Offshore - is one of the most well known methods of tax planning. The basis of this method are laws of different countries wich are free of taxation or partially free of taxation.
The term "offshore" firstly appeared in the USA in 1950.
Offshore company - is a company wich does not manage their business in the country of registration and the owners of this company are non residents of native country. These are requirements of countries where you can register offshore company.
Usually there are no taxation or just limit taxation of business in those countries.
Offshore company - is equal to limited (liability) company or joint-stock company wich is almost free of taxation and the owners are not residents of this country.
Making offshore company a businessman can decrease the sum of taxes absolutely justy for his local firm.
At the present time there are more than 60 countries to register offshore. The most well known are: Panama, Gibraltar, Bahama Islands, Ireland, Delaware (USA).
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