From how I understand it, it's better to pay little tax in the offshore jurisdiction and make things legal rather than pay no tax at all and make it illegal only to get troubles with the tax office! Cyprus will help you to make things legal it seems if you get an accountant there to help you.
From what I have been discussing with an agent it's the exact same procedure to register a company in almost any offshore jurisdiction the questions is, which offshore jurisdiction is providing you with what you look for.!!
Some of the comments here look just stupid, sorry to say it :) I was wondering if it's possible to get the money out without a loan agreement and more like salary payment and just pay tax in my country?
Thanks for sharing this information. Top Tax havens seem to be different than what I thought it was. I always thought it was countries like Panama and Cayman Islands.
An Hong Kong incorporation is what I would consider if I'm looking at doing business in China, It would for sure make it more legit also if you want to get Hong Kong domain name and hosting a company incorporated in China / Hong Kong will be required.
Nothing else than a branch in another country of where the bank is headquartered.
Some example of what an offshore banking unit is Offshore Banking Unit (OBU)
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