Together with my partners I maintain a large structure of companies and banking so I may know something.Thanks for your input blueweb. Seems you have a lot of knowledge and experience in this field which we all can benefit from. I though some offshore companies have to pay tax locally if they conduct business there.
You know a lot, reading most of your replies I getting an idea about everything. You have been of great help blueweb.Together with my partners I maintain a large structure of companies and banking so I may know something.
Is it allowed at all to do business locally when you incorporate offshore?No if they are indeed offshore companies then they don't pay any tax. If you incorporate a company for instant in the Seychelles or Belize and doing business there then they are not considered offshore but onshore and they have to pay local corporate tax which most often is much less than what you would pay anywhere in Europe or the rest of the world!
I got informed, allowed yes, but not commen to do. Most often you incorporate offshore because you do International business.Is it allowed at all to do business locally when you incorporate offshore?
Agree. There are no taxes to be paid if you do business with your offshore company!offshore usually takes you out of the Tax loop as you no longer come under inshore Tax regulations.
Yes I got the same answer from our agent.. it's not allowed to do business locally without to pay tax!I got informed, allowed yes, but not commen to do. Most often you incorporate offshore because you do International business.
Agree, makes no sense to go onshore with an offshore company !!That's why you may want to setup a entity offshore and stay offshore when doing business.
Are you sure that's the only reason for doing so? I find it even to be a good idea if you want to open a PayPal account or other money account and you don't want to appear there anywhere.Only reason would be anonymity and privacy for shareholders and director of a company!