Is an offshore company still attractive ?

[SeeMeInTheMorning]

Hello

Is an offshore company still attractive while many jurisdictions have introduced and implemented Economic Substance rules? I was wondering what exactly is the Economic Substance and how to determine if you fall into the scope of it? What exactly I have to deal with?

 

[VESTANON]

@OP In a nut shell substance essentially aligns to proven⁤ evidence that a business is fully operational, as well as having tangible resources that are⁣ functional which in turn provides value addition to the company operations,office space,network of clients,websites,current adverts⁢ /virtual or physical staffs,regional / local offices, a well defined address..etc all along those lines...︀cig-:,

 

[cangarooo]

Offshore is not always the answer.
There are other ways to run a very efficient‌ business without going necessarly offshore.
All depends on what you want to achieve, where you‍ are resident, where are your customers and what you are selling.

 

[OJ333]

Bulgaria doesnt have the substance laws and dividends are taxed at 5%. Just letting you‌ know.

 

[Diego Reppas]

substance can sometimes be as simple as having a director in the off shore jurisdiction.‌ If you can combine this with, for example, an EU country that has a tax‍ treaty with said off shore jurisdiction (especially for efficient flow of dividends), then off shore⁠ could be a solution.

 

[uplana]

Substance does not need to be bad! Actually it can help you should you be‌ arguing with your tax office.