With the mass adoption of the internet and migration of individuals, businesses are now global entities, and as such the role of the company has evolved in order to accommodate the increasingly sophisticated global transactions that now take place.
Companies are frequently used in financial planning as they offer a highly versatile and flexible vehicle. They are available in a range of legal forms across a wide variety of international jurisdictions. A company can be used in isolation or in conjunction with other structures.
At Knox House Trust, we offer a wide range of company services in jurisdictions that are: politically and economically stable, have sophisticated corporate laws, established communication infrastructures and impeccable reputations.
Clients have many reasons for incorporating a company, and can include:
Asset Protection
We have many clients who have international business interests. In some of these instances an offshore company can be beneficial, in that it can hold and own assets, such as Intellectual Property, Real Estate or Superyachts and Private Jets.
Confidentiality
Many of our clients wish to preserve their privacy and keep their affairs confidential. In some jurisdictions in which we incorporate, the company is not required to publish financial information or the details of directors and shareholders. Many financial jurisdictions will only share information with third party authorities when terrorist activities or money laundering is suspected.
Lower Costs
Registering an offshore company will require minimal capital, usually less than what is required for a domestic company. Often the legal obligation of any directors or company officers of an offshore company are less than a comparative domestic company and, therefore, its maintenance can be translated into lower costs. The process of establishing an offshore company can be relatively fast, simple and less expensive.
Mitigating Taxes
Depending upon the jurisdiction, incorporating a company can in some instances legally mitigate tax obligations, or offer lower levels of taxation. However, the tax landscape is complex and constantly changing, so it is important that clients receive good advice and guidance to ensure that there is no conflict with the tax obligations in the country where the business operates or client is resident.