What is an Offshore Company
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 a non-resident Company or IBC... an 'International Business Company' or 'International Business Corporation'.
Important information about Offshore Companies
An Offshore IBC is an entity (or Company) that can only operate outside the country of its incorporation, but can trade with established domestic Companies that have been formed within the same jurisdiction. It is regulated by, and must operate under the tax regime, of the incorporating jurisdiction.
Why incorporate a company offshore?
There are many features and benefits associated with the establishment of a non-resident company (IBC), and every individual or organisation has their own specific reasons to set up in this way.
Just some reasons to incorporate;
- Tax savings
- Asset protection
- Cost effectiveness
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