Where Should I incorporate?
There is the general impression that incorporating a limited company overseas is simply a means to avoid scrutiny, avoid tax and avoid accountability; this appears to be particularly true with people’s impression of offshore jurisdictions. Incorporating a limited company should be driven by what you want to accomplish rather than what you want to avoid.
In many jurisdictions, such as Bermuda, the British Virgin Islands, and the Seychelles, offshore companies are not liable for any capital gains tax, estate duty or death duty, and even though incorporating your company requires a degree of investment and administration, setting up your business in one of these jurisdictions can be a great vehicle for international trade. In order to trade within any jurisdiction it is necessary to have the necessary permissions; conducting business without official government authorisation runs the risk of having punitive penalties imposed and, without limiting your company’s liability through a recognised incorporation, you are personally liable for any costs incurred or sanctions imposed.
Essentially there are often several options available to you when it comes to incorporating, but the first critical step is establishing where you want to do business. With over 20 years experience forming and incorporating companies across the world, Formacompany is ideally suited to offer advice, guide you through every step of the company formation process and help you set up the business that you require; if you are in urgent need we also have shelf companies available. If you are currently considering incorporating a company, then contact us today.