An offshore company, such as a legal offshore company in Panama, is a legal and authorized legal structure that acts and operates financially like a standard onshore company, but operates fiscally with the freedom to have no legal accounting or to maintain simple accounting and be managed by hidden beneficiaries through an authorized nominee board of directors. A legal offshore company, or offshore company, is technically a foreign company incorporated in a foreign country in accordance with its laws and operating outside the country in which it is incorporated with full legal validity. An offshore company is therefore a company incorporated in a place other than where it operates commercially or where its investors live . The primary objective of an offshore company is to allow businesses to conduct business with complete tax avoidance and without any accounting, managing bank accounts discreetly and carrying out transactions through bank accounts and investments through offshore banks with complete financial secrecy, protecting the privacy and identity of the company's true beneficiaries. It's perfectly legal for a citizen of any country in the world to open and operate an offshore company, as long as they operate legal businesses and are declared in the beneficiary's country of tax residence. Offshore companies such as the Panamanian and Belizean Societies enjoy numerous advantages, which can be summarized as follows:
- Corporate Secrecy , also known as Corporate Veil, like the famous Panama Corporate Veil, is the non-disclosure of corporate data by the tax haven state where the joint-stock company is founded. Documents are often segregated and cannot be disclosed or shared with third parties. In some countries, there isn't even a register of them.
- Zero Taxation , meaning non-compliance with even the minimum tax requirements on earnings. These offshore companies operate under a preferential tax regime and pay no taxes. They are often used to avoid paying forex taxes.
- Take advantage of Bank Secrecy , that is, the possibility of easily opening offshore bank accounts anywhere in the world, such as an offshore bank account in Belize, or an offshore account in a bank in Panama, as they are welcome and guarantee data protection with an ironclad bank secrecy capable of offering superior banking services.
- Offer total asset protection .
- Optimizing production costs. FAQ
Among the best known public registers we have:
- Panama Public Registry: https://www.rp.gob.pa
- Belize Company and Corporate Affairs Registry: https://belizecompaniesregistry.gov.bz
- UK Company House: https://www.gov.uk/government/organisations/companies-house
- Delaware Division of Corporations: https://corp.delaware.gov
- Wyoming Secretary of State: https://sos.wyo.gov/default.aspx
Among the most used databases in the world:
- OpenCorporates: https://opencorporates.com
- Sayari: https://sayari.com
- PrivCo : https://www.privco.com
A caveat all offshore companies must heed when dealing with international trading companies is that the tax-free safe harbor they provide only exists if the money generated by these activities remains in these companies and international trading territories. After distributing the assets or income generated by these activities, such proceeds are subject to taxation in the legal jurisdiction where the recipient of the proceeds is tax resident.