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Why I need a Offshore Company for what purpose?

EliasIT

Corporate Services
Mentor Group Lifetime
Dec 10, 2010
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Why do people incorporate a Offshore company?


Please let us discuss the different reasons for why people establish Offshore companies!


The major reasons we all know is TAX and to avoid to pay too much tax:p Are there no other reason to go offshore with a business?
 
Another reason why we see people incorporate a Offshore company or low tax company is for asset protection.


Finally some have difficulties to obatin credit card processing arrangements for their website because of the jurisdiction where the company is incorporated ie India, Pakistan, Nevis, Belize etc. which are not covered by Visa EU or Visa USA - therefore the only way to solve this problem is to incorporate a company for instant in the EU or the USA - there are alternatives which just not may be suitable for everyone.
 
To avoid the owner to be visible you will either need a Nominee director and shareholder or you need to register your offshore company at a jurisdiction where there is no registry of companies.
 
Here is another reason for why you want a Offshore company :)


Corporate vehicles can also be used to hide and shield assets from creditors and other claimants, such as spouses, heirs, and tax authorities. The obscurity provided by certain types of corporate veicles can be exploited to conceal the existence or ownership of assets in order to keep them out of the reach of creditors and other claimants. In some bankruptcy cases involving individuals, of example, funds have been siphoned out of one jurisdiction through shell companies and trusts incorporated in other jurisdictions where it was extremelt difficult to trace beneficial ownership. In certain jurisdictions, where a trust holds shares in a company, the trustee appears as the record holder and does not have to disclose the fact that he is holding the shares as a trustee.
 
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Forget about bearer shares, any todays bank will ask for legit proof of ownership or they will require to hold the bearer shares which then makes no sence. I learned my lesson already :(
 
EliasIT said:
Why do people incorporate a Offshore company?
Please let us discuss the different reasons for why people establish Offshore companies!


The major reasons we all know is TAX and to avoid to pay too much tax:p Are there no other reason to go offshore with a business?
If you don't know why you need a offshore company then you don't need it :D


Most do it to avoid tax and gain privacy, so I did ;)