Who uses offshore businesses the most?
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I agree with jfab, most often IT or Internet based companies are moving offshore to increase profits and safe tax. Also to gain privacy.
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A lot of companies set up their European headquarters here in Ireland due to low taxes and many of them are indeed IT companies (Google have their European headquarters here) along with a lot of finance companies (Paypal have their European headquarters here) and pretty much anyone who wants to avoid taxes (Pramerica, Medisize, Zeus etc.)
Honestly, I had many clients that were physicians that were trying to protect their assets in case of malpractice and taxation. They seem to have the type of income that warrants offshore protection measures.
Today tourism has become a major export industry in many countries and so as part of expansion they prefer to start up in free zones where they can make good income with people coming from different regions. Also there are many hotel groups who look forward to expand their brand to different countries as part of globalization.
Yeah, indeed free zones are not very common to be discussed here why that? It's actually something I have discussed with a biz partner for years ago who started in a Free Zone in Uruguay I think it was, very cool deal he made and no tax to be paid.
The IT industry is one of first sectors to go for offshore enterprises. Most companies prefer locations with low risk levels and negligible taxes. Other businesses with the same requirements are hospitality and finance industries.
Agree, have seen so many IT corporations who moved all their activity to India, Pakistan and similar offshore jurisdictions.
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I have been doing lots and lots of research for my business and what company form I wanted, thats why I found this forum after long time. I'm happy to have found it since it seems to provide exact the informtation that I was looking for in regards to consider my business to be registered with an offshore company. The problem I had was to find good information on how to do and where to start! After long time I'm 100% sure that I need an offshore company for my Internet marketing business, the primary source of funds are from Internet and clickbank, google adsense and a few other CPC & affiliate programs.
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I saw many IT corporations outsourcing and having their offshore businesses in India, Singapore, and Philippines.
I'm from Philippines and the Tax rate here is high. I'm surprised some are willing to invest in my country because of its corrupt government officials who does nothing but eat with their people's Tax.
I think Internet Marketer use the most offshore company. Since they only need a small amount of money to build.
I'm sure Internet Marketer and Chinese Market use offshore company the most. Since they dominated the business.
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