You might have heard of people that set up their businesses in other countries and wonder why they do it. The truth is that there are many benefits to having your business registered in certain countries such as massive tax cuts and much more. If you are thinking of starting up a business of your own, you will want to look in to the option of having a company registered overseas so that you can decide if the option suits you. Of course, this will not be a great option for any kind of business but it will certainly work well for some businesses. You will need to look online and study the advantages and disadvantages to decide if this might be a good option for you because having a traditional business in your own country means that you will be liable to pay a lot of taxes. There are specific areas in which you can set up your business and they are known as “tax havens” because of the amazing tax benefits that they profit and the best part of it all is that they are completely, one hundred percent legal.
Study the pros and cons
Before you decide to best set up offshore company in Indonesia, you need to do your research online to find out what the tax benefits of having a company offshore are. If you choose to do it, you will be able to set up your new business overseas in under ten minutes online with the use of a credit card.
One of the benefits of having a company in another country in one of these tax havens is that you will have a lot of privacy. You can have your offshore company bank account there and no one will really ask questions or look in to your records unless you are specifically a suspect in criminal or terrorist activity.
With a traditional company, the directors of the company will have many legal obligations and such whereas with an off shore business, you will be liable to much less rules and regulations. As a nonresident corporation in the country that you choose, you will not be obligated to have or publish any information about the owners’ financial accounts or anything else unless it is a very serious instance such as a case of terrorism. In addition to this, the actual set up costs involved with setting up an offshore business are very much less than the traditional business which is another very big benefit.