Offshore company for international trade in 2021
Opening an offshore company for international trade in 2021 is relevant. Starting a business makes it possible to travel to different countries, as well as get both a regular and permanent residence permit. It is possible to optimize tax payments and start making a profit.
Advantages of opening international companies
There are several advantages to starting a company for international trade. They specialize in importing, exporting, and reselling goods. The location of such a company in an offshore gives the opportunity to optimize taxation.
The main advantages are the following:
- Confidentiality - maintaining anonymity about the beneficiaries;
- Profitability - it is profitable enough to keep the company;
- Protection of assets;
- Possibility to enter the international market;
- Use of tax benefits.
When choosing the country to register an offshore company in 2021, it is important to consider the reputation of the country, the need for licenses and permits to operate. It is also crucial to pay attention to the location of the territory, the possibility of opening a bank account, and the cost of opening.
Top 5 countries
To choose the most suitable jurisdiction for setting up an international company, contact IT-OFFSHORE. Our specialists will help you choose a low-tax reputable country, where it is easiest and most profitable to operate internationally.
This country is considered one of the most famous tax havens. Companies are opened mainly for the purpose of optimizing taxation and protecting assets. There are no stamp duties or taxes on worldwide income. It is allowed to apply nominal service, and it is possible to obtain citizenship for investment.
The advantage of opening an IBC is that there are no annual accounts and audits, and you can form the share capital in any currency. There is also an opportunity to use the agreements to avoid double taxation.
Saint Vincent and the Grenadines
An IBC in St. Vincent is used as an international trading firm, investment entity, and holding company to own property. It is used to protect assets, buy or sell goods and services, and manage businesses.
A huge plus is that the legislation is robust in closing information and protecting assets. Large businesses need to file annual returns and pay 30% taxes on profits. Local individuals can form a BC-type company. There are no requirements for the share capital. The director can be a resident of any state.
The territory is becoming a low-tax offshore for international businesses. Due to flexible legislation it is quite comfortable to conduct international business in the country. The firm must be registered in the territory and have an office.
At least one shareholder and director are required for opening. The amount of registered capital is 1000 USD. A secretary is obligatory, and a firm must both keep accounting records, and file financial reports. All legal entities are subject to income tax depending on the amount. Rate can be 1-5,5%.
A company in the management structure must have at least a director and a secretary. Functions can be performed by individuals or legal entities. It is possible to use nominal service. Name may be drawn up in any language.
British Virgin Islands
The advantage of opening a company in the BVI is that there is no tax on capital gains and inheritance. Jurisdiction has several treaties to avoid double taxation, and the territory is an important international financial center.
At least one shareholder and director are required. Shareholders and directors may be individuals or entities. There is no requirement to file financial statements and appoint auditors. Non-resident companies can receive an exemption from most taxes, but they must pay an annual renewal fee.