Is it your dream to one day have enough money squirreled away so that you can retire to the sun?
Oh that dream is so passé!
What if you could: -
- move to the sun today
- take your business with you
- and reduce your tax liability drastically at the same time?
Sounds like a fantasy?
Read on to find out how to begin turning that fantasy into a reality…
The Internet, eBusiness & Offshore
We all know that the internet has allowed businesses to open up their product range and service capability to the global consumer. You’ve maybe heard of this concept referred to as trading in the global market place.
Well, in many cases, especially in the case of eBusiness* and eCommerce* the internet has also meant that the actual trading a company does can take place in any geographical location - including low taxation liability offshore locations!
Maybe the thought of going ‘e’ with your business or establishing a whole new eBusiness concept is daunting enough without adding the offshore element right at the start?
Well, actually the ‘offshore’ bit should be your first serious consideration! Can you afford to ignore the taxation savings that you could be making both personally and for your business if you were to move offshore?
What does Offshore mean in this context?
The easiest way to establish your business offshore is to make sure it qualifies on each of the following points: -
- A new company is set up offshore for the eBusiness trading side of things - this is to avoid such complicated fish as capital gains liabilities incurred by moving a business of certain value out of a high-tax country’s tax jurisdiction. Sort of a penalty for escaping!
- The servers your company run from are physically located offshore - physically located is the key here; just administered from offshore but located onshore is simply not good enough!
- The owners of the company are based offshore - otherwise Controlled Foreign Corporation laws could be violated and taxation avoidance issues raised.
Of course there are specialists out there who can advise you on all aspects of establishing your eBusiness’ offshore tax saving status, and there are certain ways that at least the last point in the above list can be worked with.
Shelter Offshore aims to make you aware of the generic possibilities available to you and always recommends that you seek qualified professional advice.
