Protect Your Assets and Privacy with an Offshore Corporation

Are You Concerned About Your Privacy?

Thanks to computers and the internet, private information about you – including your home address and phone number – is often readily available to one and all at the click of a button. When you form a corporation, the contact information for your business’ owners and officers may automatically become part of the public record. If you are concerned about protecting your privacy and assets from lawsuits, identity thieves and other prying eyes, an offshore corporation may be the answer.
 
Offshore Corporations Offer Many Advantages

There are many potential advantages to forming a corporation outside of your country of residence (i.e. an “offshore corporation” or “international business company”), where laws can be quite different than those in the U.S., Canada and U.K.  In fact, jurisdictions with favorable corporate laws compete with each other to attract an international clientele by catering to their asset protection and privacy needs. 

An offshore corporation can:

• Safeguard the privacy of your corporation’s owners, officers and directors
• Shield your assets from lawsuits
• Provide non-recognition of foreign judgments
• Reduce your taxes (subject to the laws in your jurisdiction)
• Protect your confidentiality
• Offer the ideal structure in which to place an offshore bank account
• Expand your corporation’s investment options

In addition, if you own multiple offshore corporations you may be able to transfer funds between these companies without any government reporting requirements.

Where Should I Form an Offshore Corporation?

Not all offshore jurisdictions are the same, and one is well advised to choose the country of incorporation wisely.

For the past 20 years the Caribbean Island of Nevis has been one of the most attractive jurisdictions in which to form a corporation, primarily because of their laws discouraging frivolous lawsuits. A would-be litigant must post a $25,000 bond with the courts before filing a lawsuit against your corporation. After posting this bond he or she must file a brief justifying why the courts should allow the lawsuit to be filed. If the representative of the courts feels that the suit is not warranted, the litigant forfeits the $25,000 bond and the case is dropped.

In order of preference, the offshore corporation jurisdictions that offer the most asset protection and financial privacy are (click on each jurisdiction to learn more):

1. Nevis
2. Belize
3. British Virgin Islands (BVI)
4. Panama
5. Bahamas

What about offshore bank accounts?

If you would like to learn more about offshore bank accounts and the benfits it can offer you and your business click here

What about Taxes?

There is good news for Americans and Canadians. Although taxes must be paid on worldwide income generated in a controlled foreign corporation, it is possible to control one’s privacy while remaining tax compliant. The secret is to hold the stock of the offshore corporation in either a private Nevada “C” Corporation or an Alberta Corporation. This allows the income produced by the foreign corporation to be reported on the tax returns of the corporation and not the individual – and to be taxed at the corporate rate, which may be much lower than the individual rate. As always be sure to obtain tax and legal advice from a licensed professional.

How Do I Get Started? 

Call B2B Credit toll-free at 877-464-3700.  We can help you determine if an offshore corporation is right for your needs and handle all of the paperwork for you.