Offshore accounting and auditing solutions to expand your business to global markets
We handle your offshore accounting, internal audit and taxation needs so you can focus on growing your core business
How can we help?
Are you an international business owner, entrepreneur or a professional looking for the best accounting and auditing services for your business? Look no further! FormationWise can help you set up an accounting system, maintain financial documents, audit your books and create financial goals for your business.
What we offer?
We know how difficult it can be to manage your company’s finances if you aren’t familiar with debits, credits and recording transactions, but who says you have to do it alone? We offer a range of offshore accounting and taxation services that cover anything from offshore bookkeeping, tax planning, VAT registration and financial statement audit to payroll services, debt monitoring and so much more.
What we do?
At FormationWise, we proudly support business owners, providing offshore accounting solutions that facilitate company growth. You can significantly increase your profitability and secure your economic future by retaining our team of skilled offshore accountants.
Accounting rules and company compliance is different in each country.
That’s why we only work with leading accounting firms in each of the counties we operate in to offer the best services that are in accordance with the local regulations of the jurisdiction you are working in.
Why do you need us?
Our specialized offshore accounting solutions can work effectively to help you remove the need for an in-house accounting department which is sometimes too costly to set up and maintain. Through our professional accounting and auditing services, you can obtain a competitive advantage by gaining valuable services at better prices while increasing your productivity.
We are here for you!
Hiring the financial and accounting professionals at FormationWise can help you save money on training, purchasing in-house hardware and software, as well as year-round salaries.
How to choose?
Not sure which accounting and auditing services are best for you? Leave your requirements and objectives online! We will get back to you with the best offshore accounting solution for your business.
Send us an inquiry today!
Place your order
Select the offshore accounting package for your desired jurisdiction
Simply choose the offshore accounting and auditing package for your desired jurisdiction by filling out our form, by call or by placing an order on our website
After finalizing the right package, make the payment for your chosen services and send us your financial details
Send your documents
Forward us all the necessary financial documents through an email with the documents attached or by phone
Start the process
Once we receive the payment and the required documents, our team will start working on the accounting or auditing service that you have ordered in your chosen jurisdiction
Get it done
Depending on whether it’s a one-time task or an ongoing financial project, our offshore accounting partners will get the job done in your new jurisdiction
Choose your jurisdiction
Formationwise can assist you to incorporate a company in the below international jurisdictions:
Our accounting and auditing services
Not sure what you need?
Why choose Formationwise for accounting & auditing services?
Formationwise offers premium offshore accounting, auditing and taxation services through a wide network of qualified partners across the world. Here are some of the reasons why you should hire Formationwise for your offshore accounting needs in your chosen jurisdiction:
Complete range of services
From financial reporting and offshore bookkeeping to internal audit, tax planning, payroll services and more, we provide a broad array of services, so you can run your financial operations efficiently and stress-free in your new jurisdiction.
Our team has years of expertise assisting new businesses and companies of all sizes with offshore bookkeeping, offshore accounting, compliance audit and many more
Free initial consultation
We provide a free initial consultation to evaluate and analyze the best accounting and auditing services for your company or business
When you choose Formationwise to handle your offshore accounting and taxation, you can be certain that your records, data and personal information are completely secure
Effective and reliable
We will effectively manage your company’s financial data to help you grow your revenues and take your business to the next level
Our team of financial experts offers the best offshore accounting and taxation services across the world at the most competitive price in the market. The best part – we never compromise on quality
Honesty and integrity are the top priority here at Formationwise. You will never incur any hidden fees or costs when you choose our accounting and auditing services
Benefits of offshore accounting services
Many small businesses, mid-size companies and entrepreneurs struggle to find the best accountant to compile their company’s accounting reports, handle bank account transactions, evaluate financial data, and prepare outbound invoices. That is why it’s best to outsource your accounting and taxation matters to professionals like FormationWise to effectively handle all your accounting. Here is why you should hire an accounting firm to handle your company’s financial matters:
What documents are required for outsourcing accounting and auditing services to your firm?
With new regulations in place worldwide, there is extensive documentation and checklists to be filed to ensure that the accounting and audit process is performed efficiently. Here are some of the documents we require to manage your accounts, plan or file your taxes or conduct an internal audit for your business:
What is auditing?
A financial audit or auditing is an official review and identification of a company’s financial records. The primary purpose of auditing is to ensure that the company’s financial statements are accurate and that regulatory rules are followed. Auditing also gives investors, lenders and other stakeholders the confidence they need to have full trust in your firm and its integrity. The audit team presents its observations to the company’s shareholders and other members of the organization in the shape of an audit report.
Auditors operate within a narrow, justifiable margin of error known as materiality. The volume of materiality is determined by the company’s size as well as its reported income and costs. FormationWise offers sound advice on how to handle and overcome any issues that arise during an audit.
The importance of auditing
Credibility and reliability
With an effective auditing system, your company can generate reliable and unbiased financial reports, allowing you to obtain insights into which segments or product lines are doing well and how to spend resources effectively. Furthermore, frequent audits can restore faith in your shareholders that your accounts are transparent and fair, and that it is safe to invest in your company.
Internal audits performed on a regular basis by a skilled auditor are critical in spotting fraud before it becomes significant and serious. Having a robust auditing system in place alone can help stops workers and vendors from trying to cheat your firm in the first place.
Types of auditing
How to start the accounting or auditing process?
Previously, companies registered in common offshore jurisdictions did not have to submit any financial reports. However, in an attempt to follow the recommendations issued by OECD, many offshore jurisdictions have amended their legislations regulating the accounting matters.
Today, most offshore companies have to keep the books and be prepared to submit the accounting records to the authorities at their request even though regular submission of financial reports is not usually required. In order to effectively manage your accounting, you would require the services of a professional accountancy firm like FormationWise to handle all your accounting concerns.
If you receive and send payments in other currencies than your home currency, you need a multicurrency bank account. You then need to report for these transactions just as you do for all the others. A multicurrency accounting system tracks transactions in foreign currencies and integrates them into financial statements and tax returns. A multicurrency bank account, a bookkeeping system to handle the paperwork and a professional accountant with expertise in handling numerous currencies are required to set up multicurrency accounting. At FormationWise, we offer the best multicurrency accounting services for your offshore business.
A really important factor to incorporating an offshore company is knowing that you have a local professional accountant with you on board who offers the best accountancy and taxation services tailored to meet your company’s needs. We offer a tailored approach advising new businesses with tax planning, accounting and audit strategies in particular. On the other hand, regular tax matters can be complicated enough when they cross international borders, specialist advice is crucial for compliance and to maximize tax efficiency. Our experienced accountants have vast knowledge and professional expertise in the offshore industry, so you can be certain that your financial guidance is coming from the best and most qualified accountants in the business.
An audit is necessary as it provides reliability to a set of financial statements and gives the shareholders confidence that the accounts are true and fair. It can also help in strengthening the company’s internal processes and control systems. A variety of businesses and organizations require financial audits from registered auditors to meet certain regulations. An audit can detect signs of fraud, which is especially important for small or medium enterprises when owners are not actively involved in the day-to-day running of the business. Financial audits can add real value to your business because they lead to better decision-making and ensure that your financial statements are up-to-date and accurate.
Bookkeeping is the practice of documenting your company’s financial activities into structured accounts on a regular basis. With the right bookkeeping, businesses can monitor all information on their books to make key operational, investment and financial choices. Having a bookkeeper for your offshore business is really important. The bookkeeper will handle the day-to-day tasks of your company’s finance department and ensure that new employees fill out all the required paperwork, submit invoices and follow up on them, and pay the bills. The bookkeeper will also track company expenses so that every cost is entered and recorded correctly so that your business is ready for tax time.
Financial statements are an important tool for operating your business. They provide critical information about your company’s operation by providing an overview of its finances. They also serve as the basis for designing your future path. Bankers, shareholders and others rely on financial statements to analyze the condition, and profitability of your business and make decisions that influence it. These vital documents demonstrate the viability of your company and enable you to make informed financial choices to guarantee its success. They include critical information on what your firm owns and owes, as well as how much money it has earned and spent.
Accounting standards differ from region to region and there is presently no universally acknowledged accounting and reporting system in place. These criteria are necessary for companies so that an investor can compare the financial statements of different firms. Each offshore jurisdiction has its unique offshore accounting and taxation regulations, which may be difficult for new offshore businesses to understand. A local qualified accountant can help you in meeting the accounting rules in the jurisdiction of your choice. An offshore business with properly maintained accounting records may fulfill all of the requirements of tax and corporate legislation in two countries at the same time: the country where the firm was established and the country where it has tax resident status.
Offshore companies operate according to the local regulations and laws of where they are incorporated. Offshore jurisdictions are considered tax havens but that does not necessarily mean evading taxes. You have to follow the legal and financial requirements of each jurisdiction in order to do business there. You should comply with the laws in the incorporated jurisdiction and your home country. To comply with all of the requirements of your offshore jurisdiction it’s best to hire a professional accountancy firm that can help and guide you throughout the compliance process.
VAT is not applicable in every offshore jurisdiction as some offshore destinations don’t charge VAT. However, you have to register for VAT in some offshore jurisdiction to conduct your business operations. We can help you obtain a VAT number in the offshore jurisdiction of your choice. Our professional team has the knowledge and experience to help you register for VAT in the relevant tax department of your desired jurisdiction. You can send us the required documents for VAT registration while we handle the rest.
Here are some of the services that we offer our international clients to run or incorporate their offshore business: