Why ofther people go offshore

The reasons for going offshore and utilising offshore companies for tax planning and offshore business include:

  • Free remittance of profits and capital
  • Reduced taxation
  • Access to tax treaties
  • Security of property rights
  • Banking privacy
  • The search for political stability
  • Availability of offshore experts
  • Access to foreign insurance and reinsurance
  • Customs and duty exemptions
  • Exchange convertibility
  • Government cooperation
  • Fair treatment
  • Territorial taxation on foreign income
  • Fewer restrictions
  • Tested legal systems
  • Higher yields and returns

The motivations for individuals and corporations to utilise offshore planning and offshore companies include the desire to:

  • Reduce tax
  • Protect assets
  • Maintain privacy
  • Avoid bureaucracy
  • Manage risk
  • Reduce costs
  • Enhance assets.