offshore jurisdictions

Offshore jurisdictions are countries or territories that offer favorable legal and financial conditions for setting up companies, often with low taxes, strict privacy laws, and less regulation. Businesses and individuals use these jurisdictions to protect assets, reduce tax liabilities, or facilitate international trade. Examples include Bermuda, the Cayman Islands, and Luxembourg. While legitimate for legal and financial planning, offshore jurisdictions can also be used for secrecy and tax avoidance, so they are sometimes scrutinized for transparency and compliance.