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What's the point of having offshore corp. and bank acc. if we...?

mijicegi

New member
What's the point of having offshore corp. and bank acc. if we cash out via debit card or to our local bank accounts in our country??

sorry for noob question.
 

Samuel Newman

Offshore Desk expert
1) personal accounts have small limits
2) you can't get advantages of international tax planning without using companies, all your income is your personal income and will be taxable in your country of residence
 

nav

New member
I am also a noob But I can think of a few

1). Legal Tax avoidance.
2). Added confidentiality.
3). Can do business which otherwise is not allowed in your country e.g Crypto etc.
4). In case your country goes Bankrupt like Greece or is in financial crisis you money will be safe in another country.
 

TurnedToRobot

Entrepreneur
Some are in need for business anonymity and not tax anonymity. For such people a offshore company and banking is the right solution.
 

joseph15

Active Member
1) personal accounts have small limits
2) you can't get advantages of international tax planning without using companies, all your income is your personal income and will be taxable in your country of residence
I mean technically speaking, even your corporate income is taxable in your country of residence (at least in Canada) if you live there so either way, aren't you 'cheating' the system?

I mean what's the difference between opening a corporation + biz account offshore versus just opening a personal account offshore but in both scenarios, you live in the USA/Canada.
 
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