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:
“A man should not go where he cannot carry his whole sphere or society with him,Mnot bodily, the whole circle of his friends, but atmospherically. He should preserve in a new company the same attitude of mind and reality of relation, which his daily associates draw him to, else he is shorn of his best beams, and will be an orphan in the merriest club.”
—Ralph Waldo Emerson (1803–1882)