Browse:  #  A  B  C  D  E  F  G  H  I  J  K  L  M  N  O  P  Q  R  S  T  U  V  W  X  Y  Z 

Offshore company

Offshore company Definition

An offshore company is one which does not conduct substantial business in its country of incorporation. They are sometimes known as non-resident companies.

Offshore companies may bring a number of benefits to individuals or companies.

  • Taxation - business may be structured so that profits are realized in ways that minimize their overall tax liability.
  • Simplicity - except for regulated businesses, such as banks or other financial institutions, some jurisdictions make it relatively simple to set up and maintain companies.
  • Reporting - the level of information required by the registrar of companies varies from jurisdiction to jurisdiction.
  • Asset protection - it is possible to organize assets and transactions in such a way that assets are shielded from future liabilities.
  • Anonymity - by carrying out transactions in the name of a private company, the name of the underlying principal may be kept out of documentation. Having said that, current anti-money laundering regulations often require banks and other professionals to look through structures.





Submit a Definition



Ask a Question

Learn the famous formula for money-making, based upon the THIRTEEN PROVEN STEPS TO RICHES! Get your FREE Copy & Instant Access to Think and Grow Rich by Napoleon Hill just by signing up.
 
   
Newsletter cover
Browse:  #  A  B  C  D  E  F  G  H  I  J  K  L  M  N  O  P  Q  R  S  T  U  V  W  X  Y  Z