Welcome to the offshore world of CONOS
Offshore consultancy + nominee services, company formation services in selected jurisdictions.
Why incorporating offshore?
Offshore company formation offers anonymity, asset protection, lawsuit protection, taxation, simplicity, financial privacy. Another advantage you can take benefit of is simplicity. Most offshore jurisdiction make it easy on anyone who is interested in incorporating.
Five Reasons to Incorporate a Company Offshore
Incorporating a company offshore isn’t just for the wealthy anymore. Small business owners and individuals can protect their assets and enjoy substantial tax benefits by incorporating offshore. The incorporating jurisdictions have strong privacy laws in place to protect your identity and your financial transactions. The company reporting requirements are more streamlined and less expensive compared to domestic corporations.
Titling your assets in an offshore company’s name helps to make you judgment-proof. Since you no longer own the assets, there’s nothing for a creditor to seize. A civil court judgment against you cannot touch company-owned assets. The corporation can invest the assets in stocks and bonds, own real estate and hold precious metals to preserve and increase their value and earn income. For added asset protection, you can place the corporation in an offshore trust.
In the event of a lawsuit, the laws of the country where you incorporated provide protection. The incorporating jurisdiction will not honor a U.S. civil judgment. If the suing party wants to proceed, he or she must must hire and pay a local attorney in the incorporating country. After considering the upfront attorney costs and fees along with the travel costs to attend mandatory court hearings, the suing party may decide that pursuing the action isn’t worth the cost.
Under the incorporating jurisdiction’s laws, ownership and stockholder information is kept private. A nominee director’s name is listed in the registry records. Bank accounts, credit cards and investment accounts are listed in the company name. Offshore payments are received by the corporation and bills are paid in the company name. Your privacy is secured through the corporation and stringent privacy laws.
As a U.S. citizen, you must declare and pay tax on all of your income. Since the offshore corporation owns the assets and any income, there is nothing in your name to report. This can result in considerable tax savings for you. Many incorporating jurisdictions offer “gross roll-up” wherein asset growth is not taxed or taxed at a very low rate, giving you a far better return than you could get at home.
Convenient Reporting Requirements
Unless you decide to conduct business locally, your corporate reporting requirements are significantly reduced. Most jurisdictions require corporations to pay a low annual license fee instead of the required annual reports and registration fees. The company does not have to produce audited financial statements or file financial documents with a regulatory agency.