Companies conducting business in more than one country to take technical, geological and other advantages are called an offshore company. Off shore trust company do business by minimizing the cost in several ways. However, the offshore business can be used in another different term also. Companies which want to do business in such place where tax is exempted and the information will not be revealed is also known as offshore business companies. A British Virgin Islands international business companies provide services to the clients who want to keep their identity confidential.
Features of BVI offshore companies are:
Privacy is the key features of offshore companies. Privacy about the shareholders and directors of the company are strictly maintained in this company. Any information about the directors and shareholders will not be published anywhere in the public records or documents.
• Tax exemption:
The main facility of an offshore company is tax exemption. The British Virgin Island companies are exempted from all kind of local and international taxes.
The requirements of offshore companies are minimum and flexible. The company can run with a director and shareholders. For the local directors and shareholders, there are no requirements also. Unlike other companies, there are no minimum capital requirements. It doesn’t have to keep and maintain separate accounts.
The shareholders and directors can enjoy extensive facilities. They don’t have to attend any meeting and seminar on behalf of the company. And the tax exemption facilities have made it super attractive business platform in the international business.
The offshore company enjoys many more facilities that an ordinary company doesn’t. The country which offers offshore company incorporation and company incorporation offers a wide range of economic benefits. There are many reasons why a corporation should take advantage of the offshore business. Those are:
1. Offshore business can protect different business activities. This is one of the greatest advantages of the offshore business.
2. It can achieve tax benefits. This is the reason why people mostly attracted to the offshore business.
3. Offshore business reduces your personal liability if any legal problem arises. On the time of bankruptcy, you can save yourself from the liability.
4. You can expand your business internationally and who doesn’t want to expand their business internationally with having so many benefits including tax exemption.
5. You can build up new credit easily with the offshore business.
6. You can give your company an international and professional outlook even if it is a sole proprietorship business.
So, these are the advantages and key features of the offshore business.