“Offshoring” is defined as the movement of a business process done at a company in one jurisdiction to the same or another jurisdiction in another different country. Almost always work is moved due to a lower cost of operations in the new location. Offshoring is sometimes contrasted with outsourcing or offshore outsourcing.
Outsourcing is the movement of internal business processes to an external company. Companies subcontracting in the same jurisdiction would be outsourcing but not offshoring. A company moving an internal business unit from one jurisdiction to another would be offshoring but not outsourcing. A company subcontracting a business unit to a different company in another jurisdiction would be both outsourcing and offshoring.
There are a number of reasons why so many private individuals and businesses decide to incorporate offshore. Some of the major advantages are:
- Tax saving
- Simpler business administration
- Asset protection
- Privacy and anonymity
- Global investment
At Tan & Associates, our professional services are designed and tailored for the entrepreneurs and high net worth individuals to operate their business and/or personal financial matters in complete confidentiality. The entrepreneurs will be able to run the business in complete privacy while residing in the jurisdiction of their choice. Through our associated companies, we can arrange for all the necessary administrative services, banking etc., all within the confinement of the laws. Setting-up to include operating fees vary with the types and complexity of the proposed entities. From our understanding of your goals and requirements, we will make the necessary recommendations.
Our services include the following:
- Company formations in all major offshore jurisdictions;
- Registered office and registered agent services (where appropriate) in each jurisdiction;
- Full nominee services (Directors / Secretary / Shareholders) to ensure total anonymity;
- Bank introductions;
- Correspondence facilities;
- Legalisation / Apostile of company documents; and
- Formation of offshore trusts.
We are happy to discuss each and every individual client’s requirements and we are equally happy to tailor our services to suit different clients with different requirements.