What is an Offshore Company?

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An offshore company refers to a company that operates out of the country where it is incorporated, meaning it cannot operate business in the jurisdiction of incorporation. There are several well-known offshore jurisdictions that operate as offshore financial centers in the world, they are namely the BVI (British Virgin Islands), the Cayman Islands, Bahamas, Mauritius, Seychelles, Saint Vincent & the Grenadines. Most offshore jurisdictions offer global entrepreneurs the opportunity to setup International Business Companies so they can offer their services with less regulatory requirements to comply or probably with more flexible rules on their operated business. For some businesses, operating on an offshore jurisdiction may increase their business profits due to more flexible tax regime on goods and services offered through the jurisdiction.

“Offshore” means that the owner of the company is not a resident nor physically present in that jurisdiction. The IBC (International Business Companies) can be operated from anywhere in the world. Corporate laws are not difficult to interpret as most of them are formalized in the English language, and most of the popular offshore jurisdictions are former British colonies, where the British legal and judicial system is still largely in place.

Main difference between an offshore company and your locally domiciled private limited company could be in the treatment on taxation and public benefits. With small annual running cost, a high degree of confidentiality, flexible policies on taxation, and no foreign exchange controls are differentiating characteristics between the offshore IBC versus the resident domiciled company.

Most offshore jurisdictions do not impose limitations on the applicant’s nationality and capital paid-up on the IBC. The offshore entity can be owned for the purpose of personal investment, or for starting a global-based business like consulting, import/export or a broker. The use of the IBC is meant for today’s global business person. If what we have presented interest you, reach us. https://salesiq.zoho.com/signaturesupport.ls?widgetcode=4e57636a9498d7a5a595805fe23b264b47a6c4f01ce92b8655d6a1bf89956f80cbc7b27083b6bc9de10061a60124c36e&e=408b59d7fbbe43640dac57d5b490bb3cad691744572c14ee。