The term offshore company is ambiguous. It may refer to either:
- A company which is incorporated outside the jurisdiction of its primary operations regardless of whether that jurisdiction is an offshore financial center (sometimes known as a non-resident company) i.e. a Canadian company may be 'offshore' for the purposes of a USA citizen ; or,
- Any company (resident or otherwise) incorporated in an offshore financial center, i.e. offshore jurisdictions
Typically the requirements for company registration under the relevant provision for non-resident status (as in the former of the two options above) will be pursuant to some or all of the following criteria in a strict legal sense according to Offshore Company Law:Theory, Regulations& Operation(By Zhang Shiwei, China Law Press, 2004):
- Must be incorporated under Offshore Company Laws and regulations of offshore jurisdictions
- Must be incorporated by non-residents of offshore jurisdictions
- Must not trade within the offshore jurisdictions; and/or,
- Must meet nominal tax expenses levied by the offshore jurisdictions.
Read more about Offshore Company: Practical Uses of Offshore Companies, Disadvantages, Legitimate Uses of Offshore Companies, Illegitimate Uses, Importance of Choosing A Legitimate Jurisdiction, Features of Offshore Companies, Types of Companies, Merger, Relocation of Companies, Offshore Jurisdictions, Buenos Aires Ban of Offshore Companies
Famous quotes containing the word company:
“The old idea that the joke was not good enough for the company has been superseded by the new aristocratic idea that the company was not worthy of the joke. They have introduced an almost insane individualism into that one form of intercourse which is specially and uproariously communal. They have made even levities into secrets. They have made laughter lonelier than tears.”
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