| Going offshore has become a factual trend in | | | | priority of most of the clients, the hunt for |
| the contemporary financial world. Initially | | | | secrecy and confidentiality cannot be far |
| believed to be an excuse for carrying out any | | | | behind. Offshore locales provide the |
| sort of illegal business activities, offshore | | | | excellent opportunity to the high profile |
| companies are now being widely searched by | | | | clients to own properties without making it |
| businessmen for reasons of legitimate | | | | known in the popular circle. The 9/11 |
| convenience. | | | | affected US has seen a tremendous dearth in |
| | | | privacy, thus acting as a catalyst in the |
| The term 'offshore' refers to the | | | | demand for offshore company settlement. |
| organizational and legal entity of a | | | | |
| business, with the business activity carried | | | | Next comes the role of frequent litigation in |
| outside the country of registration. On | | | | the US. With the greatest number of lawsuits |
| account of its multifarious benefits, the | | | | in the US, most people run an increasing risk |
| advantages of setting up an offshore company | | | | of being sued in case a person earns greater |
| are now being availed by multinational | | | | than $100,000 a year. Going offshore provides |
| companies, small businesses, and even the big | | | | the wonderful opportunity to channelize your |
| showmen of the corporate world. | | | | sources of income without running the risk of |
| | | | raising the eyes of the people around. |
| This changing trend has been observed lately | | | | |
| owing to the realization of the amazing | | | | The benefits of offshore companies are not |
| advantages that offshore company brings in | | | | confined to the above mentioned points. The |
| its fold. The most important motivation | | | | uses to which an offshore company can be put |
| associated with an offshore company | | | | into are numerous. To begin with, an offshore |
| establishment is the minimization of taxes. | | | | corporation can protect you from divorce or |
| As such more and more people look for tax | | | | even serve as an alternative to prenuptial |
| haven countries to lay the foundation of an | | | | agreement. It also helps to make provisions |
| offshore corporation. The unbearable tax | | | | for your retirement. These apart, offshore |
| burden imposed in their home countries | | | | companies can be used to hold real estate or |
| prompts them to opt for a foreign | | | | even to write mortgage against real estate. |
| jurisdiction like Panama, Belize, British | | | | |
| Virgin Islands (BVI), Turks & Caicos Islands, | | | | The uses to which an offshore company can be |
| the Bahamas, Bermuda, Cayman Islands and the | | | | put to are endless. Minimization of tax, |
| Island of Nevis in Central America; | | | | protection and enhancement of assets, cost |
| Luxembourg, Isle of Man, Channel Islands | | | | reduction, risk management, avoidance of |
| (Guernsey and Jersey), Gibraltar, Cyprus, | | | | bureaucracy, excessive regulation, and |
| Malta and Madeira in Europe; Mauritius in | | | | confidentiality- these summarize the major |
| Africa; Hong Kong in Asia, or Western Samoa | | | | goals of an offshore company. With the |
| in the Pacific. | | | | Internet reaching out to every corner of the |
| | | | world, offshore banking has never been |
| If minimization of tax burden remains the top | | | | easier! |