After deciding on starting an offshore company, the next thing you should do is find the best jurisdiction to establish the company. Besides, you will have to sort out several issues after incorporating the company. The main problems are related to opening a bank account for the company, setting up the trading office, and seeking legal and taxation advice.
Other than that, offshore companies offer many benefits, such as asset protection and access to a large market. Some of the leading companies in the world such as Samsung and Volkswagen have excelled for exploiting many offshore markets. So, if you are planning to expand your enterprise to another country too, here are some of the leading jurisdictions to consider.
- Hong Kong
Hong Kong has been ranked among the top offshore jurisdictions, which attracts many foreign investors. While Hong Kong is part of China, it enjoys autonomy. That has helped it advance its business economy, something that continues to attract many foreign investors. It has been ranked among the most liberal economies in the globe for over 20 years.
Further, Hong Kong has a straightforward and low tax regime. Businesses that conduct most of their operations outside the island are more likely to qualify for zero tax. The strategic location of Hong Kong allows investors to access mainland China easily and the other countries in the Far East. Hong Kong also has a supportive administration, excellent infrastructure, and an educated workforce.
When China is mentioned, the first thing that will get into the mind of most investors is that it is among the leading investment destinations. China has adopted many reforms within the last 50 decades that have helped it stand as a leading investment destination.
Today, the company is among the top global manufacturing hubs. The large market has also been attracting many foreigners. Its population exceeds 1.3 billion individuals, meaning that your products will have a ready market.
The social-political and economic stability has also been attracting foreign investors. Unlike many other countries in Asia, China has been stable for many years. Businesses in the country make their long-term plans without any worries. They have also managed to establish a huge operating basis in the country.
And like Hong Kong, the country has excellent infrastructure. It has a good road network, inland container depots (ICDs), airports, and internet coverage. The developed infrastructure will help reduce your business operating costs and optimize your profits.
This Asian country also offers many opportunities for foreign investors. Within the last 10 years, the World Bank has listed it as one of the leading jurisdictions for establishing businesses. Singapore has a well-developed economy and the service sector has contributed a lot.
Even more, the company offers many opportunities in the import & export financial, hospitality, and agriculture industries. So, regardless of your investment goals, Singapore is a good pick for an offshore company formation.
An Agency of Experts Will Help You Register Your Offshore Company Easily
After selecting the best jurisdiction for your company establishment, your next step should be offshore company registration. The process involves many steps and it might not be easy for many beginner-level offshore investors. Therefore, hiring an agency of experts to help you complete the registration is important.
Company registration experts run the agencies. That means you can count on them for the preparation of your company registration documents and the company registration. After the company registration is complete, they will help you develop strategies for growth.
After deciding to form a company offshore, choose the best jurisdictions only. The list above represents a few of the best jurisdictions. So, if none of the countries appeals to you, you can try others. Study the foreign market carefully and engage an expert to avoid making losses.