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What Kind of Advantages Do Offshore Companies Offer?

We list the advantages related to offshore companies registered in tax havens in two distinct groups:

Direct taxation advantages/benefits

These advantages do not require specific explanation. The amount of revenue generated is taxed in the country of the offshore company. Taking advantage of the fact that these countries provide a wide range of tax benefits for enterprises of this kind, we may secure considerable tax savings.

Additional benefits

This other group of advantages is composed of benefits independent of taxation which are not to be ignored by certain types of businesses in certain situations. Some of these benefits are listed below, though the list is by no means exhaustive:

  • Full anonymity: Full anonymity is provided by law in certain tax havens because neither the directors, nor the owners of the companies are recorded among public corporate details. As a result, the personal details of the owners and directors are hidden from the public and this can be used favourably.
  • Lack of bookkeeping obligation: In a number of tax havens offshore companies are not required to keep books. This, too, results in a considerable saving since, if we look at the data of a domestic (non-offshore) company of a similar size, the annual bookkeeping fee alone usually amounts to several hundred – or even thousand dollars.
  • Enforcement of prestige-related considerations: It may happen that in certain business situations a foreign company may offer more advantageous terms and conditions. The participation of a “foreign investor” in a domestic enterprise sometimes creates considerably more trust and confidence in a potential business partner, or it may even provide exemption from customs duties in certain cases, etc.
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