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Home > Offshore Services > Offshore Company Formation > Company Formation Benefits > Professional Service Companies
Professional Service CompaniesMany skilled professionals and experts in various other fields market their skills internationally. Examples include:
Entering into a contract directly with the end user will rarely be the most beneficial way of making the services available. On the other hand, the individual may contract his services to an offshore company, which he owns, and which can, in turn, enter into the arrangements with the customer. A personal service company operated in this way can be used to manage liability to income taxes, social security taxes and exchange controls. The company can keep undistributed profits in an offshore banking account upon interest will be paid tax free. For the longer term it can be used to provide pension schemes, insurance and other benefits. Where an individual spends the major part of his time on the affairs of a single client, he is often treated, by the host country, as an employee for the purposes of services such as these services and advice is needed before entering into contractual arrangements. It is also sometimes worthwhile looking into the alternative of a company established in a taxing location if by doing so the benefits of a tax treaty can be obtained.
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