HXL OFFSHORE COMPANY SOLUTIONS
Setting up an offshore company is a legal, effective way to protect your assets and income from increasing taxes from your home government, economic instability, political unrest, frivolous lawsuits, ex-business partners, even crazy family members. Whatever the reason is, having an offshore company is the second-pillar of the HXL Asset Protection Program designed to protect your wealth.
Why have an Offshore Company?
Another important tool in protecting your wealth is to have a ‘shell company’ – a company that exists only on paper and registered in a country with a range of other benefits. There is nothing illegal in setting up an offshore company; it is 100% legal. Apple, Google, Microsoft are a part of a multitude of international companies using offshore companies to structure their business interests overseas in order to grow their businesses on their own terms and at the same time saving money by paying lower taxes and reinvesting back into the company. These same principles can be adapted by you. These are legitimate strategies to reduce your tax bill and grow your assets.
Shifting Tax Burden
Let’s get on thing clear: legally reducing the amount of tax through an offshore company is NOT the same thing as tax evasion. Every country has different policies and budget requirements. These same countries are also drowning in government debt, slugging individuals and businesses with higher taxes that robs you of your hard-earned business and investment income. Therefore, why pay 35%, 40% or even 50% in income tax where instead you can reduce your taxes to single-digits! This is a big saving.
Protecting Assets from Litigation
Money-leeches are everywhere and you will never know when they are coming until it’s too late. With one document, a lawyer can file to have your bank accounts frozen along with your home, your business and any other assets you may have. By placing your hard-earned assets in an offshore company, you are creating a large barrier from vicious lawyers, creditors, divorce proceedings and judgments.
Setting-up your business globally
Structuring your business overseas, especially online-based companies, is a great way to defer tax and reduce liabilities. Why restrict your business onshore when you can expand your customer base globally and create new revenue streams. You could set-up your company in one country, host the website in another, process payments in a third, keep records in a fourth and pay taxes in the fifth.
Protecting Joint-Venture partnerships
Investors and companies are taking advantage of emerging markets with a new breed of cashed-up consumers. However, entering these markets poses challenges, especially when a local partner is required for a joint venture. Having an offshore company is ideal in situations when investing in countries with a poor judicial system.
Shielding against Inflation
Having multiple income streams outside your home county will safeguard the value of your assets. If your country is suffering from high inflation or hyperinflation, this could drastically reduce the value of your wealth as central banks print more money, in-turn making your home currency less valuable. Therefore, having income streams in a stronger currency overseas insulates the value of your assets.
In summary, offshore companies are NOT illegal. It is our second-pillar in our Asset Protection Program. These structures can be used for a variety of purposes; safeguarding assets, saving money, reducing taxes, starting a business – not hiding or evading taxes.