Bowman Offshore Bank Transfers Offshore Company:Why and How To Move Your Business | Page 2

Offshore Internet Business: Incorporating a Truly Global Business
It’s a great idea to structure your business overseas, especially one that’s online-based. If you
incorporate your foreign business properly, it provides a legal way to defer tax payments
(similarly to an IRA), as well as enabling much reduced liability.
An online business has no limits as to how and where it can do business, so why should you let
your business be limited by a jurisdiction that is based on the old, geographically limited model?
Starting an offshore online business is a great way to build streams of income outside of your
home country.
Why would you want to have income streams outside of your country? Well, when inflation runs
rampant in a country, having an income stream overseas in a stronger currency can potentially
be a lifesaver.
If hyperinflation would find its way to your country, which is a real risk with central banks all
around the world printing new money 24/7, earning only a small part of your income in a
different country is invaluable.
An internet business based overseas, coupled with an offshore bank account, is the perfect
medium through which you can do this.
Offshore Company Formation: Ins and Outs
There are dozens of jurisdictions, such as Hong Kong, Singapore and the British Virgin Islands
that offer a great business environment with fully legal tax benefits.
The most important thing that you MUST do is ask for advice from a qualified tax attorney
(someone who understands international tax law) in your home country. Additionally, learn
enough to understand the benefits of particular offshore jurisdictions.
After you’ve done your due diligence, it’s possible to go through the whole incorporation process
online in most jurisdictions, and you can often set up your offshore company in as little as a few
days. You often start the process with registering a company name and sending in the right
documentation. The next step, after incorporation, is often to open a bank account or merchant
account for your business.
Offshore Business Readings
Here are a few selected articles from Sovereign Man about starting and running an offshore
company. You will find tons of information by searching the internet, but it’s hard to know if a
company is giving correct information or if the purpose of their information is to get their hands
into your pockets.