Many companies which trade overseas have offshore bases with purpose of expanding their business globally or internationally. Many of the companies prefer to set up an offshore company with a purpose to get benefit of the substantial tax saving. An offshore company is a legal entity registered under the law of particular jurisdiction. An offshore company which is formed outside of one's country often termed as the Non-resident company.

How ever an offshore company is a legal entity hardly often conducts business in its own country or Origin. Usually an offshore company gets incorporated in a country where taxation is lower and restrictions for reporting are much flexible and easier than the country in which you exist.

Procedure to set up an offshore company:

It is advisable to take the help of a professional company formation specialist consultant who can Guide you in every step of forming your offshore company. You need to follow the following steps:

?Choose the suitable name

This is the first step to decide the suitable name for your company. It can be done very easily as many companies providing this facility online free of charge. Check the availability of your company name.

?Decide the package

After deciding the suitable name for your company, now this is the time to choose the desire package offered by offshore company formation consultant. Generally you will find 3-4 packages. Choose the best package suitable for you according to your budget and preference.

?Complete the registration form

Now after selecting the right package, you have to fill up the registration form. This registration form will bear all your contact details

?As per the validation of your registration, the offshore company formation agent starts organizing corporate documentation along with other requisite registration formalities essential for your company incorporation

?After all the above formalities now this is the time to get all the documents from your offshore service provider. Your offshore agent will provides Certificate of Incorporation, statutory forms to make changes in the company in the future, Company Register with share certificates and other important and valuable document according to the company you have selected

Reason to go for an offshore company:

There are various reasons for which the business men and professionals prefer to form offshore companies as follows:

1)Opportunities for global trade

2)Tax savings

3)Flexible business laws

4)Access to foreign investments

5)Flexible business laws

6)privacy