Today, businesses do not require a brick and mortar location…
Gibraltar Offshore Company
A large part of the economy in Gibraltar is based on a variety of services. Although Gibraltar is part of the European Union, it’s a territory of Great Britain. The Ministry of Defense of the UK was at one time the major income coming into the territory. However, the economy has changed in recent years.
The economy in Gibraltar today is based on four sources of income which include:
- Internet business
- Financial services
Since the focus of business and the economy has changed so drastically in the last few years, setting up a Gibraltar offshore company is an option that many company owners and entrepreneurs are interested in exploring further. New financial services institutions that open in Gibraltar must be regulated by the Gibraltar Financial Services Commission, and they must meet all the necessary criteria required by the governing body in the territory.
Setting up a corporation in Gibraltar may be difficult for a new entrepreneur, since the way in which the company structure is set up can be involved, especially if you’re new to a business. You’ll have to follow the same procedure you’d have to in the UK. You may be required to get a license for trading, and it’s recommended that you use the services of a tax advisor.
Reasons To Start a Gibraltar Offshore Company
1. The Process is Easier
If you want to avoid a complicated process which could delay starting your corporation, you may choose to set up a Gibraltar offshore company. If you’re a startup company with limited resources, you can set up a corporation that’s registered in Panama that costs less than working with service providers in Gibraltar.
2. Reduce Costs By Incorporating in Panama
Whether you’re an established company or a startup, you’ll reduce costs when you incorporate in Panama. Your business will run more efficiently when you can cut down on costs. You’ll have a director working for you that can oversee daily operations.
3. Save Time and Meet Deadlines
You’ll be able top save time by delegating duties to your offshore staff. When you work with experienced designers, programmers, and marketing experts, new websites and marketing campaigns can be easily developed, which will keep your projects on schedule.
4. Reduce Tax Liability
Working with an experienced team familiar with offshore companies can reduce your tax liability. The service provider can show you how to protect your income and assets so that you pay less in taxes.
5. Remain Anonymous
When you’re in the process of establishing your company, a Gibraltar offshore company is an effective way for you build up your business and keep your personal information private. You can develop services and products without divulging private information to any users or potential competitors.
6. Incorporate Quickly
The process for incorporating your Gibraltar company in Panama can be done quickly, usually within six days. The fees to incorporate are lower than they are in many other countries. There are no minimum requirements for capital paid into the business. Panama also has strict laws that protect assets of foreign business owners and investors. The incorporation laws are similar to those in Delaware, which are very liberal.
7. Restrictions on Foreign Companies
Panama doesn’t have any restrictions on nationality for business owners, and there aren’t any restrictions for residency, so you can conduct your business in Panam or from your native country.
Panama has a low crime rate and an ideal geographic location. Since there aren’t as many restrictions on new businesses in Panama, you can be in operation very quickly.