Tel.: +371 2888 3086, E-mail: info@lowtaxcompany.com, Skype:lowtaxcompany

Home >> Low Tax Company >> Laipni lūgti pasaulē bez nodokļiem
Why Go Offshore

When your business obtains an international status and expands outside the state boundaries, purchase of an offshore company is not only legal, but also a very efficient fund-saving way due to a considerable reduction of tax payments.

 

What is an offshore?

An offshore company is a company established abroad and performing all its activities outside the country of its incorporation.

 

How do you benefit from that?

  • Offshore companies incorporated under jurisdictions of a tax-free of tax-relief area, may either be completely exempt from paying taxes, or pay a symbolic amount of taxes at the country of incorporation.

  • When establishing an offshore company, a businessman can reduce considerably and completely legally the amount of tax expenditures of his local firm. As a result of the interaction between the local firm and the offshore company, the businessman can practically eliminate the profits tax expenditures and decrease considerably expenditures of the social and income taxes.

  • Simplified set up procedure and requirements – some offshore companies can be registered within the same day, other offshore companies may require only one person registered.
  • An offshore company can make investments into privatisation, practically hiding its identity name in the shadow of its shareholders and directors or trust funds.

  • Costs and the fees - for a little money (starting from a thousand dollars) you can save up to 100x more each year.
  • In legal terms, an offshore company does not differ from other international forms, thus a businessman may use his offshore not only for tax expenditure reduction, but also as a real company for making business.

  • Limited liabilities – almost all offshore companies are private limited company in nature, the investors who subscribe the shares of theoffshore company are limited to contribute up to this amount (of the shares), and no more.

Are there any restrictions?

There are no restrictions for offshore companies on types of business, except requirement of obtaining a licence for a particular type of business (insurance, banking operations), i.e., the same restrictions as are in place for ordinary – resident companies.

 

What is the process of opening an offshore bank account and what is the transaction currency?

You can open an account of an offshore company with any bank at any country in the world if you can comply with all requirements of the particular bank (e.g., some banks require a minimum deposit, presenting a recommendation from another bank or professional reference, etc.). Low Tax Company works with  many banks in different countries in the world, thus we would be glad to provide you a free advice on possibilities of opening a multi-currency account and information on the required documentation.

 

Why do offshore companies have annual maintenance fees?

There are no countries in the world, where even a small annual tax or fixed duty would not be collected, and which would not require any residence of secretariats or registered agents of all firms, including offshore companies. Thus, if someone offers you to purchase a company with no costs for the future years, it is most likely that you would also purchase some trouble together with the company.

 

Which country would be the most advantageous for opening an offshore?

There is no an unequivocal answer to this question, because it depends on the purpose for using the offshore, type of your business, geographical location of your collaboration partners, number of operations, and other. factors. Thus, please, apply for free of charge consultancy, by filling our application form or sending an e-mail to Šī e-pasta adrese ir aizsargāta pret mēstuļošanu (spam), Jūsu pārlūkam ir jābūt aktivizētam Javascript, lai to aplūkotu and our experts will offer the best solutions appropriate for you.