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Reasons for going offshore
Offshore companies may bring a number of benefits to individuals or companies.
Taxation
Business may be structured so that profits are managed in ways that minimize their overall tax liability.
Simplicity
Except for regulated businesses, such as banks or other financial institutions, some jurisdictions make it relatively simple to set up and maintain companies.
Reporting
The level of information required by the registrar of companies varies from jurisdiction to jurisdiction.
Asset protection
It is possible to organise assets and transactions in such a way that assets are shielded from future liabilities.
Anonymity
By carrying out transactions in the name of a private company, the name of the underlying principal may be kept out of documentation. However current anti-money laundering and anti-terrorism regulations very often require banks and other professionals to properly look through structures and beneficial owners.
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