Offshore company formation doesn’t have to be an arduous undertaking if you follow these simple steps:
Step 1: Decide what type of company you plan to start.
You probably already have a domestic company providing similar services or, at least, an idea about the type of company you plan to form. An important detail to consider is whether or not your company can be managed long-distance via the Internet, for example. If so, then offshore company formation is definitely an option for you.
Step 2: Research.Research is the single most important step when contemplating offshore company formation. Here, you want to consider what offshore services you plan to offer, how offshore banking will work, and whether or not it is a worthwhile offshore investment. In researching potential countries, you want to consider factors such as international incorporation fees, business laws, and financial/fiscal benefits of building your business.
There are approximately fifty countries that offer incentives to offshore companies including, but certainly not limited to, Belize, Dominica, Iceland, Portugal, and the US Virgin Islands. When beginning the offshore company formation process you might notice that Dominica, for example, offers tax incentives to offshore companies. Researching the history of Dominica would reveal some economic instability in the past, but overall economic growth in the country since 2008. You can expect to pay around $600 USD in initial fees to register your company and file the necessary paperwork. Thereafter, annual fees around $350 USD could be expected to keep your company in good standing with the Dominican government.
Step 3: Select a country.
Do more intensive research on your country of choice and ask yourself whether or not it is a suitable match for your offshore company formation needs. Examine the benefits and weigh them against the costs of forming your company in the country you’ve chosen. This will aid in an easy and successful offshore company formation process.
Step 4: Incorporate.
You should already have the details regarding incorporation in your selected country. All that remains at this point is completing the applicable paperwork and paying the appropriate fees. There are a number of established online services that will file the paperwork and pay the fees on your behalf for a nominal fee.