The advantages of a well-planned offshore company are many. Offshore companies provide many benefits for an individual or an established company on a myriad of levels: tax savings, asset protection, privacy, increased confidentiality or simply expanding your business outside the UK to other parts of the world. There are a number of offshore company structures available that can give you the best of both worlds and provide all your investment options with you, but there are a few things that you will want to consider before making any decisions.
Facts About Offshore Companies
Before setting up your offshore company, it’s important to understand exactly what your options are. There are basically two main types of offshore company structures, but many different ways of structuring them. There are offshore limited partnerships, also known as LPPs, which are ideal for people looking to keep their assets and their income separate. An LPP is designed specifically for this purpose.
An LPN, however, has a number of advantages over an offshore LPP. For one thing, there is no need for a trust or a separate bank account to be set up in order to open an LPN. You don’t need to keep up a separate payroll, and you do not need to keep up a separate tax return.