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Expand business internationally to spur growth

Updated time: 18 Dec, 2020, 10:38 (UTC+08:00)

By taking advantage from offshore companies, many businesses have successfully conquered the international market.

Offshore company is a type of company that is registered in countries outside the territory where the business is operating. This is a popular business strategy used when businesses want to expand to the global market.

Foreign businesses will enjoy a good deal of benefits from a Hong Kong offshore company

Foreign businesses will enjoy a good deal of benefits from a Hong Kong offshore company

Benefits of offshore companies

According to the research from One IBC Group, just in the first quarter of 2020, more than 1,000 offshore companies were registered around the world, showing the potential investment trend in the time when globalization is on the rise.

This strategy is widely used among international investors and businesses. Typically, they will prioritize setting up offshore companies in countries with openness in international investment policies and regulations, in order to take advantage of the many special benefits that these countries offer.

In fact, the government of these countries/jurisdictions will assist foreign businesses in tax optimization through various tax exemption and deduction policies. For example, the average corporate income tax rate in Hong Kong (China) is 16.5%, but if a Vietnamese business opens an offshore company in Hong Kong and all profits are made outside Hong Kong, this tax will be significantly reduced to 0% for that company.

Furthermore, with offshore companies, unnecessary business fees and administrative procedures will be cut down or eliminated, creating a clear pathway for foreign businesses to operate in the fastest and most convenient way. Professional service providers like One IBC can even help businesses set up companies in Singapore, Hong Kong, etc. within 24 hours.

On the other hand, offshore companies are also an effective financial structure tool. Local businesses that have offshore branches in well developed countries like Switzerland or the UK will be more proactive and flexible in making bilateral investments with European countries and the worldwide market.

Offshore companies also bring many strategic benefits to large corporations, such as increasing brand awareness internationally; deploying multinational e-commerce services; trading and controlling foreign currency; securing business information, data; and diversifying business portfolio.

Taking advantage from offshore companies

With advantages mentioned above, offshore company is considered a strategic choice to help businesses reach the international level. Not only does it bring profits for the business itself, but offshore company also help promote trade among countries and jurisdictions, contributing to the economy of the world.

According to One IBC Group, in order to form an offshore company, investors should carefully prepare the business profile, because each country will have different regulations and requirements. At the same time, they also need to pay attention to choosing a right offshore jurisdiction. There are many jurisdictions that allow opening offshore companies such as Singapore, Switzerland, British Virgin Islands (BVI), and each place will have its own preferential policies for each industry.

One IBC Group is the pioneer in consulting and supporting the formation and operation of overseas businesses

One IBC Group is the pioneer in consulting and supporting the formation and operation of overseas businesses

They can also look for experts in offshore company incorporation service such as One IBC Group to ask for assistance. The multinational group One IBC specializes in consulting and supporting overseas company formation in more than 30 countries and jurisdictions. Realizing the potential of the economy and the growth of businesses in this modern day and age, One IBC Group has brought solutions to expand and increase revenue for businesses around the world.

One IBC Group has more than 10 years of experience and has brought success to more than 10,000 global customers with 5 offices in Hong Kong, Singapore, USA, Lithuania and Vietnam.

One IBC Group has supported many international businesses, contributing to changing the thinking and business strategies of many leading corporations in the world.

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