Offshore Countries

ABOUT OFFSHORE

Many people got a bad impression when heard about “offshore company”. Offshore company always has a linkage with illegal, criminal activities and money laundering. Why would a large corporation, small business or individual form offshore company? What is offshore company? Offshore companies are businesses that has been filed or incorporated outside of one’s country of residence. Typically, an offshore company does not conduct most of its business in a country where it is officially based. Offshore company incorporation is a simple process for all of the popular jurisdictions. Offshore companies are most commonly used for offshore banking to conduct international trade, investment activities, by professionals and for asset protection. Offshore companies can be involved in buying and selling goods and services hold bank accounts and operate businesses. Offshore companies are also commonly used for the ownership of real property and land; for ownership of intellectual property, licensing and franchising; personal service by individuals working overseas and offshore e-business.

Objective

Economic crisis happening in the global world have made offshore companies often seen in the news. During economic times is hard, company always looking for the ways to reduce the expenses and increase company profit? The main focus on this type of company is the tax avoidance or duties and tariffs for their products. Most often the main reason for an offshore company is to hide income or lower fees associated with doing business in their home country. Listed below are the reasons offshore company is formed:

  • Privacy
  • Property Purchase
  • Tax Savings (depending on your jurisdiction)
  • Administration
  • Offshore Banking

 

Related Content

1. Benefit of Offshore Company

1.1 Offshore Banking

1.2 Offshore Investment

2. Labuan

2.1 Introduction of Labuan

2.2 Labuan tax

2.3 Labuan business Activities

3. BVI

4. Anguilla

5. Seychelles

6. Panama

7. Bahamas

8. Samoa

9. British Cayman