Is it the right time to form an offshore company?

[RachelNg]

Both 2020 and 2021 are such challenging years for all of the enterprises in the world. Especially for the small business, there are plenty of small and medium businesses which have been bankrupt during the high tied period of the pandemic. Some are luckier, they can keep their business alive still everything is on the way back to normal life but they are having risks on the brink of ruin. So, is it the right time, will it be a big chance for those ones have the intention to form an offshore business that needs action from now? And the risks so far they have to face, is it bigger than the opportunity they have now?

Your opinion is my pleasure to look for! Thank you

 

[Ready Offshore]

Both 2020 and 2021 are such challenging years for all of the enterprises in the world. Especially for the small business, there are plenty of small and medium businesses which have been bankrupt during the high tied period of the pandemic. Some are luckier, they can keep their business alive still everything is on the way back to normal life but they are having risks on the brink of ruin. So, is it the right time, will it be a big chance for those ones have the intention to form an offshore business that needs action from now? And the risks so far they have to face, is it bigger than the opportunity they have now?

Your opinion is my pleasure to look for! Thank you

I recommend offshore company to reduce taxes, privacy and investments. There are many options based on the company's business.

 

[PaulKruger]

It all comes down to what business one may be into. If you have a good business which has substance it make good sense to setup a offshore company if that is what you want to do.

Sometimes I have a feeling that people thing it is a "prestige thing" to form a offshore company and get some sort of banking for it rather then they think wow I have this and that benefit from forming such an entity.

There is no real answer to what you are asking I think. People can comment on this with their opinions and one may not be better then the other. It comes ALL down to
whether your business has a legitimacy in this world.