What is Offshore

Offshore, in the meaning 'foreign', is one of the two most common meanings of the term. Most of the world's major and most reliable financial institutions are locating their offices in offshore jurisdictions, with the purpose to enhance their safety through privacy protection and/or getting tax free status.

Incorporating offshore is one of the best ways to protect wealth. Offshore company may be used to legally avoid or minimize taxes, and properly structured assets may be used to protect the company from legal confiscation. Many offshore jurisdictions offer low tax rates for non-resident companies, and have developed special taxation schemes applying to offshore companies, and the legislation that favours tax-advantage business entities.

Some time ago, offshore investing was considered to be a vehicle for the wealthy to avoid taxes and increase their net worth. Now there is much more diversity. There are wealthy people and companies setting up offshore, and many  average earners that are setting up offshore as well. Simple offshore structures may include just a bank account or credit card to provide access to international markets, others have more complicated structures that include IBC's, trusts and bank accounts.