Why I need a Offshore Company for what purpose?

[EliasIT]

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😛 Are there no other reason to go offshore with a business?

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My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.

 

[JohnLocke]

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.⁢

 

[orangeye]

Tax reduction, asset protection and privacy may be my guess 🙂

 

[orangeye]

I need one for trading purpose, selling jewellery.

 

[Spinat]

For investment and anonymous activities to hide my name! 🙂

 

[ManishHill]

I need one for Pharmacy business to not be visible as owner:conf:

 

[redeye]

The reasons are many, It is extremely difficult to quantify with any precision the extent‌ of offshore companies their misuse or regular use!

 

[JohnLocke]

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.

 

[nastathin]

For sure tax evasion 😀

 

[redeye]

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 holder︁ and does not have to disclose the fact that he is holding the shares as︂ a trustee.

 

[wosniak]

Does it need bearer shares company to stay anonymous?

 

[EliasIT]

I read that it depends on the offshore jurisdiction rather than the shares. For instant‌ I read, Seychelles has no company register so to incorporate a offshore company there will‍ grant anonymity without any further issues.

 

[EliasIT]

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 🙁

 

[offshorebanker]

If you don't know why you need a⁤ offshore company then you don't need it 😀

Most do it to avoid tax and gain⁣ privacy, so I did 😉