What is an Offshore Company?
An Offshore Company can be simply defined as a corporate entity that rarely conducts business in its country of origin.
Offshore Companies are normally formed in a jurisdiction where taxation is much lower, and reporting restrictions far more flexible than the country in which you reside.
Other common names for this type of company are :
- Non-resident Company
- International Business Company
- International Business Corporation
Benefits of an Offshore Company
The various advantages to forming an Offshore Company are :
- Reduced tax liability
- Fewer reporting requirements
- Asset protection
- Holding Companies
- Property-owning Companies
- Intellectual property & other rights
- Family wealth protection
- Internet trading