Offshore Companies

Offshore companies are businesses registered in a country different from where their owners reside. Often set up in jurisdictions with favorable tax regulations, they can help businesses reduce tax liabilities, protect assets, and enhance privacy. Owners may use these companies for various reasons, including international trade, investment, and estate planning. However, they are sometimes associated with illegal activities, such as tax evasion or money laundering, leading to stricter regulations. While offshore companies can offer legitimate advantages, it’s important for individuals to understand the legal implications and responsibilities involved in their use.