Bowman Offshore Bank Transfers Offshore Company:Why and How To Move Your Business

Bowman Offshore Bank Transfers on Offshore Company: Why
and How To Move Your Business Overseas
To set up an offshore company or relocate your
existing business overseas is a crucial step
toward internationalizing yourself and your
assets. Search for “offshore company” and
you’ll find thousands of websites promising a
quick company formation in Panama or the
British Virgin Islands, with a range of other
“benefits” for the jurisdiction in question.
There is a current misconception that offshore
business is about evading taxes and hiding
money from the government, which is
certainly not the case.
There are 100% legitimate ways to structure your business interests overseas and realize
significant benefits from an asset protection standpoint — as well as tax-standpoint.
Want an example? In the last few years companies such as Google, Apple and a multitude of
other companies have cut their taxes by billions of dollars in completely legitimate ways.
You too can do this.
Some say this is unethical and cheating, but not surprisingly, those who say these are most often
not the same people as those who create value in society. If you’ve found your way to this page,
chances are strong that you’re a value creator and want to keep more of the money you get back
as a result of creating value.
Tax Advantages with Offshore Business
First of all, you don’t have to start a company offshore to save on taxes. If you’re an American,
just moving out of the US is a terrific first step.
As a US expat, about $100,000 in overseas income is tax exempt, meaning that if you live
outside the US you don’t have to pay any taxes at all on the first $100,000 or so of foreign
sourced income (you still have to file your tax report though).
However, the real tax advantage from running an offshore company as a US citizen doesn’t come
from direct tax savings.
It comes from tax deferment, meaning you postpone the payment of taxes into the future. If you
run a business overseas and reinvest profits within the company you can defer taxes indefinitely.
Let’s say you have a profitable company overseas. Now imagine that instead of paying taxes on
your profits every year you can reinvest that capital in your offshore company every year for 30
years, and only pay taxes if you decide to sell the company after 30 years.
Being able to reinvest your capital tax-free combined with the power of compound interest
makes this a truly exceptional opportunity.