The company with special benefits, that was registered in the country of the offshore zone. These companies and firms can only engage in activities abroad. Small countries welcome the creation of offshore companies on their territory, this is done in order to develop their offshore business and bring a permanent income to the state.
Offshore companies are non-resident in relation to the country where they are registered, which means that its “control and management” center is located abroad. Commercial operations of offshore companies are conducted outside the jurisdiction where it is registered.
Offshore companies are usually exempt from the principal amount of taxes, either this amount is relatively small, or they pay a small annual registration fee.
The procedure for registration and management of the company is simplified. Nominee owners and directors may be used. The requirements for general meetings and holding of the Boards of Directors are formal.
For offshore in the country of incorporation is facilitated, or there is no currency control at all, the requirements for financial reporting are minimized. Audits with some exceptions are not required at all.
Possession of offshore companies is carried out on an anonymous basis with high guarantees of confidentiality. The confidential nature of possession of offshore is guaranteed by generally accepted legal norms and the legislation of the jurisdiction in which an offshore company is registered. At the same time, at the moment, registering an offshore company in any jurisdiction without revealing the ultimate beneficiary is not realistic. After all, the documents of the Russian beneficiary (including the passport and the usual Russian passport) for registration of the company will still be required, even if he uses the full nominal service (that is, the directors and shareholders of his company will be local hired persons). Denominations need to know the ultimate beneficiary for their own safety, so as not to take on other people’s “sins”.
The most popular goal of opening an offshore is to optimize taxation. With the help of a well-structured offshore company, you can achieve tremendous benefits: confidentiality and anonymity, property security, cost optimization, simplified reporting requirements.
Using offshore – the most famous way to effectively evade the huge taxes of the state. Many world companies with a huge reputation also use off-shores, for example (Apple, Google, Microsoft, General Electric, Pfizer, BMW and General Motors) and this is not the whole list. Many businessmen use this type of doing business, thereby minimizing their costs for the business and getting good incomes.