There are many business types that are conducted globally with more people jumping on the bandwagon to earn a lucrative income, one of which is offshore companies. Offshore Belize companies have the collective benefits of anonymity, tax exemption, limited liability and privacy protection. Therefore, many business minded people are choosing to incorporate their companies offshore to save on cost plus many other advantages.
Legal Tax Exemption
When you turn to company formation Belize, you can enjoy the highest level of privacy protection without the relevant authorities come knocking on your office door for tax collection plus other details. There is legal tax exemption and you save money in this area. No longer do you have to pay a huge amount off your profits and you get to keep 100% of your returns and takings. This will spur you to work harder because whatever you earn, you get to save and keep it completely. There is no tax of any kind of income and this is a big savings on your part. It is an encouragement for the offshore Belize registered company owner to work diligently and conscientiously because he gets to keep all the profits made without having to part a big percentage to the federal government.
No Accounting and Reporting Requirements
As there is no necessity to pay income tax and no tax of any other income generated, there is no requirement for proper accounting of the financial statements. You can do all this using Microsoft Excel work sheet with formula added for automatic calculation by yourself. And you could be in a proprietorship doing all the work yourself, reporting to no one else. You are your own boss calling the shots and setting the time and place to work in comfort and good ambiance. Besides, you don’t have to report to anyone else or to company formation Belize.
No Fees for Auditing and Accountants
There is no superior looking over your shoulders and no government agencies checking on you all the time. Hence, there is no fee for auditing and you are free to bank in all your income to your fixed deposits in the bank. As there is no reporting required, this is a huge savings for you in hiring a professional accountant to do proper book keeping for your offshore company. Moreover, the work culture is flexible.
Business can be conducted internationally
Your offshore Belize registered business can be conducted internationally with just a web site hosted elsewhere. It is your online profile showcasing your products and services that are offered to clients around the world with services such as programming, freelance writing, virtual assistance, insurance, web designing, plus a wide repertoire of other services that may be offering via the internet. The cost is minimal too – with just a computer with internet connectivity in your room, you are ready to run an offshore business globally and the reach is borderless.