Incorporation Offshore & Offshore Banking

By: Ramapati Singhania

Companies with incorporation offshore own half the worlds wealth! The worlds wealth does not sit in the offshore bank accounts of businesses with incorporation offshore. It flows to where it is needed by the owner. And it flows rapidly. Many times back into there own countries. How do you own your wealth? Through a limited liability company incorporation or directly in your name?

Let me tell you how easy it is to incorporate a business in a tax haven. I did my first bvi company incorporation when I was 22 years old and an engineering student at Carnegie Mellon in Pittsburgh. Since then I have formed companies with an offshore incorporation in the jurisdictions of Mauritius, Seychelles, Lichtenstein and Luxembourg.

I am not super wealthy and my income is reasonable. I just liked my freedom from the complicated tax laws of my country, which I never understood.

I am an Indian, currently residing in Dubai, United Arab Emirates, a zero income tax country. Utilizing a tax haven company service, it is easy to earn anywhere and save! You too can incorporate a business, maybe with banking, in one of the several tax havens around the world, that too for only a few thousand dollars.

Where do you start looking if you are thinking about starting a new business, charity or venture? This process, called incorporation can be a minefield. Thankfully, help is at hand with a wealth of advice and services offered about moving a business abroad or setting up a business. Some companies offer to do everything for you, others offer just advice and options through incorporation consulting.

Incorporation is a process by which a business exists in its own right. It is separated from its owners in relation to financial responsibility. So if a person goes bankrupt, for example, the business is not automatically sold and vice versa. This process started in America with merchants setting up incorporations for their ships, so that if the ships sank at sea, the merchant could not be directly held responsible.

There is no doubt that looking to set up incorporation is a timely, bureaucratic and complicated business. In order to minimize tax incurred and costs but also ensure you meet the criteria for incorporation in whichever country you are applying, it is important to research the range of possibilities and implications.

Incorporation consulting services available will usually research the variety of options available and provide a number of suggestions for what you wish to achieve. Some will only do this; others will also continue to implement your chosen decision and completely set up the corporation for you.

Of course, this comes at a price and incorporation consulting starts at around $500 for the initial investigation service and then more depending on the level of service you require.

Many incorporation consultancy services offer additional services, such as introducing a corporate veil guarantee for free when they set up your limited company or incorporation. This basically means that legally your business finances are separate from your personal finances. So a legal judgment against one does not affect the assets of the other.

Most incorporation consultants come with an extensive background in either business or commercial law. Indeed, many of the companies offering consultancy services recruit a number of people from each of these disciplines in order to provide a range of services.

Many of the consultancies offer ongoing services including financial data collection and storage, tax returns and performance monitoring. You can visit various websites specializing in offshore incorporation to learn more about forming a company.

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