There are various types of companies which can be set up in countries around the world, however, the offshore company remains the preference of many foreign entrepreneurs because it offers enhanced protection of their assets. In matters of variety, the same could be said about the countries in which such companies can be set up. While there are many states known as offshore destinations, there are also onshore countries in which such entities can be created.
Below, we will make a short analysis of the best countries for setting up an offshore company.
Singapore – a unique onshore destination with offshore characteristics
A former English colony, Singapore is now one of the most advanced countries in the world when it comes to the use of technology in various fields. However, Singapore is also one of the most appealing states in which offshore companies can be created in order to complete various activities in other countries. One can also set up holding companies in Singapore in order to ensure the protection of their assets.
Singapore is by far preferred by many investors from Western countries, thanks to the favourable taxation system when it comes to offshore companies, as they will be exempt from taxation in the city-state.
Belize – a traditional offshore destination
Another state preferred by foreign enterprises for creating offshore companies is Belize. One could even say that Belize is a traditional offshore country, as most of the businesses set up here take the form of offshore companies. With no corporate and capital gains taxes, Belize represents a go-to destination for many investors who are interested in international trading activities they can complete through an offshore entity.
The Cayman Islands – ideal for offshore companies and funds
Those who want to set up not only offshore companies, but also offshore investment funds can direct their attention to the Cayman Islands. With a wide range of banking facilities and options, no corporate and withholding taxes, the Cayman Islands represents a good solution for those interested in setting up an offshore company under the form of an exempt company. This way, they will also benefit from the minimum annual return filing requirements.
Without a doubt, there are many countries which can be used for setting up offshore companies and each investor will choose the right option based on their needs. The decision should ultimately be made after a careful verification of all the conditions and requirements of these countries.