Before you establish a company in a foreign destination, it is imperative that you understand the rules of forming a company in that country. Offshore companies are primarily formed, because the destinations offer lower taxes, privacy and flexible business laws. In this article, we will take a slightly different twist to what an offshore company is by exploring the outsourcing of technological and financial services to foreign destinations.
We live in an inter-connected world, where moving from one city to another and one country to another for employment is becoming the norm. The cultures are becoming closer and the distances that existed for thousands of years have shrunk. More and more countries are focusing on the economic well being of their citizens and are abandoning the idea of revolution to effect change. English has become the de-facto business language. Thus it has become paramount that we look for English speaking skilled workforce to do our daily corporate activities. Like no other time in history, these skilled professionals have become so important to the daily functioning of more established societies as well the emerging ones across the world. The rise of China and the rest of the BRICS have forced many other nations to invest in their nation’s educational systems to produce skilled professionals. The corporate world has followed these trends and is setting up companies in faraway destinations with the English speaking skilled workforce to stay ahead in this highly competitive global economic climate.
These offshore companies have been the cause of conflicts and celebrations. At BizBoon, we strongly believe that offshore companies will bring out the best in humanity. It will lead to innovation, growth and job creation. We believe that repeatable tasks should be offshored to low cost destinations, so that companies can focus on innovation. Innovation in turn will create new jobs and keep the economy moving toward the future. For example, the English speaking highly skilled workforce in India has helped countries like USA and India alike. On one side the Americans were able to offshore their work to India to cut costs and help their companies make huge profits and innovate. On the other side the Indians have benefited by gaining employment and the American know-how to keep their economy moving forward. Therefore, offshoring work to countries that have a skilled workforce will improve the lives of average people across the world. It is a win-win situation for everyone. Let’s look at Offshore Company formation in a positive light to help humanity overcome many of its challenges.
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