International supply chains begin offshore

Incorporating your company offshore is a viable solution for your supply chain needs. An offshore company is just a company incorporated in a jurisdiction outside its place of business.

Offshore company incorporation gives your company the freedom to:

1. Find the best and/or least expensive supply solutions for your operations chain;
2. Take advantage of the potential benefits of offshore corporate tax-savings;
3. Get the world's best business solutions without leaving home.

For instance, you could incorporate your company in Singapore, source materials and skilled professional labour from South East Asia, manufacture a product in China, and retail all over Europe and the UK – all with minimal tax burden.

1. Incorporating your company offshore is a viable solution for your supply chain needs. Operating in multiple jurisdictions offers flexibility as it enables offshore companies to make price comparisons across different markets, even if transacting in different currencies. Overseas manufacturing allows companies to cut down on costs and increase their savings, and offshoring skilled services can also cut costs allowing the business to grow.

2. Select the best service providers within your quality and budget range. Going offshore to find suppliers opens up a greater range of solutions supply. Many companies choose the comparative advantage offshore company formation provides for everything from expertise in production to sourcing jurisdictions with better infrastructure. Conversely, setting up a company offshore opens it up to global clients and creates more revenue streams than can be found onshore alone.

Many companies already employ this type of outsourcing. It can be highly cost-effective to subcontract out parts of your business to service providers in other nations, although you should take into account the type of business your company intends to pursue. For fields like IT, it has become increasingly common to outsource IT needs or aspects of businesses as they relate to technical requirements to a variety of Asian nations. By taking advantage of the skill-sets of companies in other countries, you can expand your business to provide services that your staff may not be able to complete for the price you need.

3. Location – a non-obstacle. In many cases, it is standard for a company to liaise with several sites that make up its total operation. Globalization means physical distance is no longer a great deterrent to managing most businesses. Virtual office services for offshore companies can provide a business address and secretarial services, which help consolidate operation and dramatically eliminate overheads.

To facilitate a successful business, corporate leaders have increasingly reached beyond their home country to take advantage of global opportunities. Incorporating offshore is an effective vehicle to take advantage of these opportunities.

While the idea of offshore company formation may seem challenging, and even unorthodox, electing to incorporate in countries such as Singapore or Hong Kong, with their prime business reputations, can both alleviate the connotations of risk while gaining from the efficient infrastructure and economic incentives offered by these jurisdictions.

About the Author

Healy Consultants is a leading corporate services firm that assists entrepreneurs and investors with the processes required complete offshore company formation, along with a range of other corporate services. More information on company incorporation can be found by visiting http://www.healyconsultants.com