One hot topic circulating around Bulgaria today is “Should I move offshore?” Tax advantages are just one side of the story. But what else have offshore jurisdictions to offer to entrepreneurs and how Sb Accounting & Consulting can assist you in entering these markets? Find all the answers here.
It is a fact that numerous international multi-million corporations tend to go offshore (partly or wholly), attracted by the opportunities for savings and greater profitability. But the trend is not just restricted to the large multinationals; many smaller public or privately held businesses are also relocating, just without the sound media coverage.
In fact, it is typically far easier for smaller, entrepreneurial businesses to move as they are more ﬂexible and such a move can offer signiﬁcant commercial, administrative and tax advantages for the right business.
What benefits can be expected when moving offshore?
• Better proximity to markets
With presence on each continent and a wide worldwide coverage, you can choose your offshore location so that you are close to your targeted market.
• Accessing local talent pools
Many offshore locations offer large pools of expertise in numerous areas, for example, Switzerland for pharmaceutical companies, etc.
• Reducing compliance headaches
Compared to company administration in most of the popular business destinations, countries such as Malta or the Netherlands may offer greater simplicity, transparency and certainty.
• Improve cash ﬂow
There are some very favourable tax incentives on offer, with effective tax rates potentially around or below 10% into the commercial, tax and legal issues to consider in each jurisdiction.
Where to locate?
There is no right or wrong answer to this question, but before making up your mind you need to take into consideration the following points with regard to your personal situation and business objectives.
Key factors to be taken into consideration include:
• proximity to markets, suppliers and labour
• operational beneﬁts
• compliance savings
• impact on business culture
• costs of relocation
• willingness of relevant personnel to relocate
• short-term operational disruption.
How Sb Accounting & Consulting can help?
Sb Accounting & Consulting is the truly international company, which operates beyond boarders. Due to the considerable interest coming from prospects for moving businesses or setting-up new ones in the most popular offshore jurisdictions, we have integrated in our corporate structure a separate functional department dealing exclusively with this matter. For businessmen interested in going offshore, we will provide a 100% professional and competent support to their future business plans by undertaking the entire cycle of steps towards the new company incorporation and also everything that needs to be done in order for the new company to start operating successfully on a certain market. Because of the knowledge of our experienced staff and thanks to our long-term international partnerships we guarantee a top-notch professional service with absolute compliance with the foreign regulations, requirements and legislation.
The jurisdictions that we cover are eleven of the most popular and preferred business destinations in the world and these are the jurisdictions of Belize, British Virgin Islands, Cyprus, Hong Kong, Malta, Netherlands, Panama, Seychelles, Switzerland, United Kingdom and USA. Find out more about each of these destinations on the Offshore/Onshore menu of our corporate website and see for yourself the multiple benefits that the offshore business has to offer…