An offshore corporation or offshore company can be used two ways. It could be:
- A corporate group or company that participates in offshore business or manufacturing services.
- A kind of corporation or legal entity that is registered or incorporated in some offshore financial area or “tax haven”.
The latter use is more frequent used.
Understanding Offshore Jurisdictions
Some countries which are well known tax havens include British Virgin Islands, Cayman Islands and Bermuda. Add to this the country Liberia and now you’re talking the language of this post. The company GWS Offshore is now
Companies that are incorporated or registered in these jurisdictions are often called offshore companies and GWS will help you do all this.
Tthere are also some smaller countries like Singapore and Hong Kong, also called “mid-shore” jurisdictions. These countries have big financial centers, but do not follow zero tax policies.
Lastly, there are some industrialized economies that could be utilized in the structures of tax mitigation. These include countries like the Netherlands, Ireland and the United Kingdom.
In addition to this, in the Federal system, states that function like classic offshore centers could have companies incorporated there being called as offshore, despite them being a part of the biggest world economy.
You can find offshore jurisdictions that do not simply impose any kind of tax on the companies. Therefore, the firms become ‘de-facto’ tax exempt. Bermuda and the Cayman Islands were some of the best examples of such countries. Other countries like the British Virgin Islands have also shifted to this kind of a model.