What needs to be included in your offshore business plan

There is a strong motivation for business to keep money offshore. Proper planning and analyzing will help company to store their assets in a safe and reliable jurisdictions. Many companies from the Forbes TOP-100 list are using offshore plans to maximize their profit and legally keep their money. However, it is not right to look only to big enterprises because the law is the same for smaller companies as well. Every entrepreneur can choose a suitable offshore plan to increase profit and reduce taxes. Sometimes law can be even more loyal to smaller companies depending on the jurisdiction you choose. It may lower the risk of losing money to unreliable contractors or being sued for no good reason. How to start making your offshore business plan? First of all, you need to decide which jurisdiction to choose. Next step is to select the best business structure and legal entity type. Afterwards, entrepreneur will be required to solve other organizational moments which will help him grow the most effective company, gain maximum profit and reduce unnecessary expenses. Here are some benefits of smart offshore business planning:

• local taxes are much lower than onshore; • money is stored in a reliable bank in a best possible way for your business; • bank account opening and all related banking expenses are reasonable; • It is cheaper and easier to obtaining business; • proficient workers who know scope of work are available and their average wages are lower than onshore.

All these pros are available if you choose the right jurisdiction and business structure. Digital companies, call-centers, shops and storages, logistic services – every type of business requires a different plan and each one of them can be managed effectively.

Entrepreneurs are often need a professional consultant. This is why offshore licensing companies exist. Regular person does not have all the required information about offshore jurisdiction and a professional financial analysts or offshore specialists can conduct researches that will allow businessman select the best possible option. What are the main tasks of specialists while making an offshore business plan?

1. First of all, we need to choose the location of the business. If the company is already incorporated, there is a need to move it in the best possible way. Transferring financial assets, opening bank account and registering intellectual property – and this is only a small part of tasks that needs to be accomplished. Sometimes more than one offshore country is required to achieve effective business planning.

2. Optimizing taxation is the next important goal of an offshore consultant. Specialist need to consider the possibility of Foreign Earned Income Exclusion while paying foreign income tax; Best time to transfer the profit to your parent company; Which tax privileges for your business are available and many other solutions. Even choosing the type of a credit card is an important part which may affect your taxation plan.

3. Using special Offshore Inversion or Offshore Captive Insurance Company as beneficiary. The point of Inversion is to purchase a foreign company and to move your profit to a low-taxation jurisdiction to reduce the amount of taxes that you should pay. There is another solution to reduce the taxes for corporations that required to remain in the US, based on restrictions, low foreign sales or another reasons. Offshore Captive Insurance will allow you to divide the assets between your companies. Assets will be deducted from the US company and transferred to your Offshore Insurance Company.

4. Moving problems along with the Logistic issues are also a part of an offshore business planning. Offshore consultant will take care of getting visas, obtaining residence permits, managing possible workers and assisting with employment process. All these problems can be solved just with a help of a professional team. Entrepreneurs are often under great pressure while moving offshore or starting a new business. Considering this, our specialists are focuses on Financial Analysis, Law, Licensing, Consulting, Bank Account Opening, Company Incorporation and other services that will help customers to set up a business in the most effective way.