What is Offshore Company formation?

An offshore business is one you are establishing or registering in another country outside of where its key investors reside. When you report it outside where it's the main operation and offices are, it's also an offshore company. In other words, if the owners and headquarter are in country A but in country B you have registered it. The phrase offshore corporation means the same as an offshore company. In business, the word offshore means in another country. An offshore fund, for example, is a fund that operates overseas. Offshore development involves relocating a factory outside the country and importing the finished products in other word goods are manufactured abroad and sold in the home market.

Benefits of an offshore company

• In their home country, they don't pay income tax
• People set them up with flexibility on business in mind
• International laws and regulations are usually less strict than those of the country in which they reside
• Information about them is hard to get. Details about the organisation, operations and action of the company are not accessible to the general public