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"Utilising Personal Service Companies to protect income and reduce liability"

Personal Service Companies Related Services How to Proceed

PERSONAL SERVICE COMPANIES

A Personal Service Company (PSC), when structured properly with legitimate intent, can not only reduce the overall cost of administration and management of a company, but also provides a tax structure which will minimise the taxpayer’s bill.

Many individuals engaged in the provision of professional services in the construction, engineering, aviation, finance, computer, film and entertainment industries can achieve considerable tax saving benefits through the establishment of a PSC. The PSC can contract to supply the services of the individual outside the country in which he is normally resident and the fees earned can accumulate offshore, free from taxation in the offshore centre.

The PSC would be used mainly by expatriates, persons providing international services and consultancy, and professionals looking for asset protection against potential liabilities.

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OCRA Worldwide can advise on the suggested vehicle for the Personal Service Company and assist with the due diligence procedures, establishment, administration and management of the vehicle.

For more information on Personal Service Companies, please visit our Knowledge Base:

Personal Service Companies

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professional advice. OCRA Worldwide does not accept any responsibility, legal or otherwise, for any errors or omission.