Bowman Offshore Bank Transfers: Start an Offshore Company
Is the price tag on this year’s tax return still stinging? Are you tired of a high tax rate eating away at your hard-earned business and investment income?
Is the price tag on this year’s tax return still stinging? Are you tired of a high tax rate eating away at your hard-earned business and investment income?
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Failure to comply with these rules in the US (or <strong>an</strong>y other western country that requires them)<br />
c<strong>an</strong> lead to steep penalties. You c<strong>an</strong> reduce taxes with <strong>an</strong> offshore corporation, but you won’t<br />
benefit from a low tax if you get whacked with penalties <strong>an</strong>d fees.<br />
Tax deferment is one way for offshore comp<strong>an</strong>ies to reduce taxes. The system in place lets you<br />
defer the taxes that will be imposed upon your comp<strong>an</strong>y indefinitely.<br />
You c<strong>an</strong> take the money you’re no longer putting towards taxes <strong>an</strong>d reinvest it in your comp<strong>an</strong>y.<br />
You won’t have to pay these taxes off until you sell the comp<strong>an</strong>y.<br />
If you’ve been deferring taxes for a number of years, <strong>an</strong>d using those funds to either continue to<br />
build your business or invest otherwise, you will be coming out far ahead of those who never<br />
start <strong>an</strong> offshore comp<strong>an</strong>y. Try as those homebodies might to reduce taxes, tax-free compound<br />
interest from your offshore comp<strong>an</strong>y will blow their onshore earnings out of the water.<br />
How to get started setting up <strong>an</strong> offshore comp<strong>an</strong>y<br />
Remember those bad blogs <strong>an</strong>d articles from earlier? Well, offshore corporation misinformation<br />
isn’t the only thing you need to be wary of…<br />
There are plenty of cheap “start <strong>an</strong> offshore comp<strong>an</strong>y” service providers advertising on the<br />
internet. They offer the lowest price <strong>an</strong>d the best results. Oxymorons.<br />
Unless you’re <strong>an</strong> Afric<strong>an</strong> warlord, you’ll w<strong>an</strong>t to steer clear of these service providers. Flouting<br />
the law, avoiding <strong>an</strong>d ignoring sound legal <strong>an</strong>d tax advice–If that’s your M.O, the lowest-priced<br />
provider will get you set up in no time (I me<strong>an</strong>, maybe…there are plenty of scams out there).<br />
And while the process of forming <strong>an</strong> offshore corporation is straightforward (<strong>an</strong>d c<strong>an</strong> be done in<br />
a matter of minutes, in some countries), laying the proper groundwork before <strong>an</strong>d after the<br />
official process is import<strong>an</strong>t.<br />
You need to consult with a provider who underst<strong>an</strong>ds the rules <strong>an</strong>d regulations in your home<br />
country, which most so-called “lawyers” on some deserted isl<strong>an</strong>d have no idea how to h<strong>an</strong>dle<br />
(since most of them are just deflated volleyballs with painted-on faces).<br />
The best thing you c<strong>an</strong> do is choose the right representative. Overpaying a little up front is a nobrainer<br />
when it comes to your peace of mind down the line. The next step after “reduce taxes”<br />
shouldn’t be “reduce jail time.” You’re asking for trouble if you don’t vet these cheap offshore<br />
corporation services before buying in.<br />
What to do after forming your offshore corporation<br />
Once your offshore comp<strong>an</strong>y is approved <strong>an</strong>d set up, the next step is to open a b<strong>an</strong>k account<br />
(<strong>an</strong>d possibly <strong>an</strong> offshore merch<strong>an</strong>t account).<br />
Whether or not you’ll have to physically travel to the b<strong>an</strong>k depends on a few things, including<br />
where your comp<strong>an</strong>y is incorporated, your nationality, <strong>an</strong>d where you intend to b<strong>an</strong>k.<br />
But don’t let that turn you off. The most import<strong>an</strong>t first step towards <strong>an</strong> offshore corporation is<br />
to simply take action. The sooner you get your business set up, the sooner you c<strong>an</strong> enjoy the