Many people living in developing countries want to protect and invest their hard-earned money in other countries. Allows them a wider horizon as long as earning is concerned and peace of mind knowing that their wealth is secured in a place that is not vulnerable to a severe economic crisis.
Switzerland is currently the world’s biggest center for managing offshore wealth at a whopping $2.3 trillion (Source: swissinfo.ch). Switzerland, having a stable and firm jurisdiction, comes under those countries where it is only ideal to invest. A Swiss offshore company enables the investors to invest without going through the lengthy proceedings of double taxation. Switzerland has many laws regarding the avoidance of double taxation and also promotes foreign investments.
Swiss Offshore holding accounts for multiple benefits for the investors, apart from the common taxation laws. Some of these benefits include the liberty of a foreigner to own all the shares in their company, the exclusion of a foreigner’s name in the government’s public registry, and the availability of nominee shareholders.
Seek Professional Guidance
The first thing that is required to establish an offshore company in Switzerland is the professional guidance of a legal and financial advisor. It is impossible to accumulate that knowledge through the internet alone; therefore, it is ideal to get in touch with advisors who can educate you regarding the requirements and procedures of investing in a foreign country.
Choose a Name and a Structure
The second step is to choose a company name and a business structure that complements the number of shareholders you want to have in your company. As for the company’s name, you need to take the assistance of your legal advisors so that you can get the trade name for your company. At this point, you need to make sure that you are not targeting the competitors already existing in the market; doing this may damage your profile as a foreign investor.
Selecting the right business structure for your company refers to choosing a corporate entity that suits your purpose and profile as an investor. While doing this, you must take your overall capital and the total number of shareholders into account. (Source: businessetup.com)
Get Your Papers Ready
After choosing the company name and structure, the most important thing to do is to have your official papers ready for approval. This is an extremely lengthy process, and it may take you months or years to fulfill the requirements of opening an offshore company. Some of these papers include approval from a power of attorney, detailed information about the shareholders and their background, and an official publication of your corporate entity.
Once you have all the required official forms and documents, you need to submit them for approval. It is possible that your business proposal may not have been approved the first time. However, this is nothing to worry about, as you can sort the errors with the help of your advisors and submit them for approval again.
Open an Account
The transactions of your business would require a Swiss bank account; therefore, the next step is to open an account in a foreign country that allows massive transactions with little taxation.
Keep a Record
It is important to keep a record of all your business activities and transactions in case of any legal issues in the longer run.
If you want to invest in Switzerland, you can visit RISTER Sàrl fiduciary company. They are experts in the administration of offshore companies in Switzerland and deal in fiscal representation, accounting, and human resource management.