"The reasons and benefits for going offshore are many"
The motivations for individuals and corporations to utilize offshore planningand offshore companiesinclude the desire to:
Reduce tax
Protect assets
Manage risk
Maintain privacy
Avoid bureaucracy
Reduce costs
Enhance assets.
Going Offshore: Reasons
More broadly, the reasons for going offshoreand utilizing offshore companiesfor tax planning and offshore businessinclude:
Free remittance of profits and capital
Access to top-rated debt history jurisdictions
Access to tax treaties
Security of property rights
Accessing low cost areas
Banking privacy
Availability of offshore experts
Access to foreign insurance and reinsurance
Enhanced privacy
Customs and duty exemptions
Exchange convertibility
Government cooperation
Fair treatment
Territorial taxationon foreign income
Fewer restrictions
Sanctity of contracts
Foreign investment inducements
Tested legal systems
Higher yields and returns
The availability of sophisticated banking facilities
Reduced taxation
The search for political stability
Offshore Companies Applications
The principal uses of offshore companiesare:
Trading
Investment
Holding
Financing
Professional services or consultancy
Patent, royalty and copyright holding
Ship management and yacht owning
Personal and corporate tax planning
