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Broadly defined, any company that exists in one place legally but does most or all of its business elsewhere is an offshore company. But most know them as financial entities built on the balmy shores of the Caribbean, where regulations are light and taxes limited. They needn't have much capital, have many named directors or even conduct much business for long periods. No muss, no fuss, until your company needs what they can offer: flexibility.
Here are some reasons you might need to consider establishing a beachfront operation for your growing firm:
Despite popular belief, offshore assets are very common among the business world, especially for larger companies. Many have the notion that offshore investing signifies that the business is in financial trouble, avoiding taxation or is simply illegal. None of these things are true though. Obtaining offshore accounts helps businesses because there is less restrictions, taxes and other disadvantages that are commonly associated with keeping all the money in a U.S. account. However, offshore asset protection is a must for those who choose to go with this option. Fewer restrictions can be an advantage but this also means that the money may not be as well guarded.
Essentially, offshore asset protection services are provided by either an attorney or a firm that specializes with this area of the law. They help set up trusts, beneficiaries and the other legalities that most business owners are not that familiar with. If something were to happen, this can help prevent the business from taking a loss by ensuring that the funds are still safe. To learn about asset protection for offshore accounts, simply click on any of the links to the left. Here businesses can find out about what is available and possibly even find a provider.