An offshore company is one that is registered in a country with little or no tax rate and where it does not engage in any trade. Furthermore, the directors must be resident in another jurisdiction.
What are the advantages of an offshore company?
- Increased profits: offshore companies benefit from a very attractive tax regime on revenue and profits; sometimes, they are completely exempt from tax.
- Anonymity: nominees can be used as the names to appear in contracts.
- No accounting requirements: the publication of accounts is not mandatory.
- Finding the jurisdiction that best suits your needs to increase profitability.
- Opening an offshore bank account.
- Performing registration processes as well as administrative, accounting, and legal procedures.
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