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Most of our clients utilise the following types of offshore
companies to structure international business and for
tax planning:
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- offshore
companies incorporated in jurisdictions often described
as tax haven islands, such as the differing types of offshore
company that can be formed in offshore company formation
centres such as the Seychelles or British Virgin Islands.
- types
of vehicle. These classes of company are used for offshore
business, international business and tax planning because
they have the advantage of limited liability but the
flow-through characteristics of a partnership for tax
purposes. This means that profits are divided among
the members, in proportion to their respective holdings,
and are taxed in their hands. In some circumstances,
if all the members or partners are non tax resident
in the domicile of the LLC or LLP company and no business
is undertaken in that country, neither the LLC or LLP
company nor the members or partners will be subject
to tax in the company's country of establishment. Such
companies are said to be "fiscally transparent" and
examples include US LLCs and the UK LLP.
- which
offer both offshore companies and onshore companies and
which may benefit from or
special offshore company regimes. For example Cyprus,
although not typically regarded as a tax haven, it has a
favourable tax regime, which effectively means that correctly
structured, managed and administered Cyprus Companies can
be utilised for undertaking offshore business and international
business without paying tax in Cyprus provided that any
profits arising are not made in Cyprus. This type of tax
regulation is known as "territorial taxation".
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