Offshore companies have gotten a bad rap over the years but what people fail to understand is that these can be legal entities and there can be many real reasons why an individual or a business might want to set up an offshore company. It is fair to say that before unscrupulous people set up these same types of companies using made up names in an attempt to mask the kind of business that they were involved in but thankfully now, this is no longer the case.
There are a number of reasons why you might want to set up offshore companies in Vanuatu and if you are having some doubts then maybe these benefits of doing so can help you to make a sound financial decision.
- For privacy & safety – Everyone is entitles to privacy when they are trying to do business and unfortunately all of your business dealings are generally available to those that want to search for it through the various government entities. It is reassuring to know that by setting up an offshore company, you are taking real steps to protect your safety and privacy when it comes to business dealings.
- To purchase a property – If you want to buy a property in a specific country, there may be rules in place that require you to set up a company in order to be able to buy. It is possible however to own a proper through a foreign company and so this makes buying property much easier.
- Better banking opportunities – Due to all of the red tape and bureaucracy in your home country, your government may make it very difficult to get access to banking services. By setting up an off shore entity, you are taking steps to have more banking opportunities for your business.
- To protect your assets – There may come a time when you have to protect what is yours from certain creditors, your family members and even solicitors. Having an offshore company can protect you from being sued at any given time.
As you can see, it makes a lot of sense to set up an offshore company and these are only four of the benefits that you can enjoy if you do so. There are the lower tax rates to consider and you may also get to avoid things like capital gains tax. Look into setting up an offshore company today for the above reasons.