What are the pros and cons of using an offshore company?
Offshore taxation issues
- Offshore companies are often used as a means by which to shield money from income tax. While some structures allow this under very specific circumstances, agencies now tend to refuse contracts with offshore companies, as they are often no more than a thin front for tax evasion (i.e. the non-declaration of income).
- Under very specific circumstances, an offshore company can be an efficient structure for tax planning, but advice must be taken before considering such a structure.