In the past several years, the topic of offshore business has become more of a reality rather than a trade secret activity. More large businesses are putting their financial activities in offshore financial centers to ensure further growth and promote global reach. Because there are more offshore financial territories now, there is a wider and better selection for businesses thinking about offshoring their ventures.
Offshoring Your UK Business? Why Not
It is not surprising that large and now even medium businesses in the United Kingdom are strongly considering offshoring their financial movements because of the proven and apparent benefits involved in it. Probably the most obvious one is reduced tax obligations. If your business is located in the United States, for example, you are bound by the UK tax laws, which can mean one thing: high tax rates. Businesses that want to veer away from high tax obligations are sticking to the idea of offshoring their activities. Basically, in an offshore financial center, businesses have more leverage when it comes to tax obligations. This means they have to pay much lower taxes, giving them more opportunities to invest that money on expanding their business activities. Another classic benefit of offshoring your business is financial confidentiality. It is not uncommon in offshore financial centers to ensure businesses of financial confidentiality, meaning they need not to open their financial books for scrutiny. This benefit best applies to companies that want to protect the confidential activities of their business and their trade secrets. However, this benefit has been under criticisms because it can be used for money laundering activities. Nevertheless, honest companies need to worry about being branded as such as they know how to use this benefit without breaking any laws.
Ras al-Khaimah: Hot Spot for Business Offshoring
When the discussion becomes about offshore financial centers, one of the top topics to be inserted in the picture is Switzerland. However, there is a newcomer that is making waves in the financial sector – no less than the small emirate of Ras al Khaimah of the United Arab Emirates (UAE). This offshore financial center bolstered its way to the top as it offers unique benefits to companies. Aside from offering lower tax obligations and financial confidentiality, Ras al Khaimah also incorporates outsourcing, asset protection, as well as property ownership in UAE free zones. It could be said that this offshore financial center has become the new face of this type of financial activity. If you want to put your company on pedestal for global business growth, then you would also want to consider offshoring it at Ras al Khaimah. The first step you would want to do is to know more about offshore company formation RAK. If you are concerned or even clueless how you can offshore your business in RAK, you would find it extremely helpful to seek the advice of a business consultancy firm that specializes in UK business offshore in RAK. A business consultancy company can help you and your business when it comes to putting up or forming your own offshore business in Ras al-Khaimah. Knowing how much you need to invest to setup your offshore company is just a tiny pixel in a much larger picture. This is why it is extremely important to be guided by your trusted financial advisors and agents. Regardless, setting up an offshore business in Ras al-Khaimah will surely provide your business its growth that it needs.
UK businesses that want to have a global presence should not be limited to the four walls of traditional corporate setting. In this day and age, in order for a certain enterprise to succeed, the people behind it should think outside of the box. Progressive and dynamic business growth is what every large business should aspire for.