Offshore Corporations, LLCs, Trusts
The most stringent privacy laws and offshore banking jurisdictions provide for financial privacy as well as asset protection from divorce, creditors, judgments and lawsuits, and the privacy of ownership.
Establishing an offshore company and/or relocating the corporate structure of your business to an overseas jurisdiction can be a vital step in protecting your assets from lawsuits. Moreover, there is potential for you to take advantage of international tax protection policies and grow your investments overseas. At CORE, we have many years of experience in guiding businesses in forming and operating as an “offshore company”, every step of the way. Instead of managing your business via a local Hong Kong bank account, you will find a wealth of advantages in setting up an offshore company and running your business using an offshore bank account. Seychelles, British Virgin Islands (BVI), Belize, Cayman Islands are all very popular jurisdictions for businesses keen on operating as an offshore company. We can guide you in setting up a corporation or LLC, whichever is best suited for your requirements. Then, we can assist you in establishing a bank account for your business, before proceeding to set up a virtual office in the offshore country of your choice.
Offshore Tax Benefits
To clarify a common misconception, conducting business offshore is not about evading taxes or keeping money outside of the country you are residing in. It is about structuring your assets in order to enjoy the advantages of international laws. Such laws
conform to international standards and it can protect the privacy of the owners and prevent money laundering activities. To enjoy the maximum benefits of operating an offshore company, at CORE, we can tailor-make a corporate structure
in legitimate ways, while providing you with asset protection, cost-savings, privacy protection, among other benefits.
It is well established that many countries in the world (including the USA, Canada, United Kingdom, Australia and Europe) apply taxes on income earned worldwide. Thus, it is not fair to those people who are unable to enjoy the benefits of running an offshore company. Topics of offshore tax policies are constantly changing, and tax is often a complex subject for most people to grasp. We must continue to be well informed, to understand the future of new regulations and the latest global trends in the field of offshore companies.
Opening a bank account for an offshore company is one of the major barriers that many businessmen face. Since the earlier part of 2012, many banks worldwide have placed restrictions on the opening of bank accounts for offshore companies. More recently in 2018, some banks are beginning to open the door for offshore companies to open accounts for such businesses. These are international banks that are renowned and reputable, like HSBC Bank, Standard Chartered Bank and OCBC Bank in secure and stable countries like Hong Kong and Singapore. The requirements have now changed, and are more focused on ways to avoid money laundering activities, and establishing global standards on information exchange. Like the business laws in offshore jurisdictions, bank account opening requirements have changed significantly over time, and we must be aware of such requirements in order to create such accounts for our clients more easily and efficiently. For more information on establishing a bank account for offshore businesses, please visit our website.