Post by account_disabled on Feb 27, 2024 5:50:35 GMT -5
Definition, an offshore vehicle. Normally, offshore entities have most or all of their partners or founders as individuals or legal entities who are not resident in the country in which the company is incorporated. In other words, an offshore company incorporated in the USA, for example in the State of Delaware, is normally owned by partners who do not reside in the country. This, however, is not a requirement or condition for the constitution or maintenance of the offshore entity, but is related to tax and exchange rate issues rather than mandatory requirements of corporate or civil law in that country of incorporation.
What are "tax havens"? Regarding the term "tax haven", it still creates a lot of confusion for the general public. In English, the term is "tax haven " (refuge; safe place) and not "tax heaven" (heaven; paradise), and means a jurisdiction (country or dependency) with low or no taxation on income, especially for offshore operations , that is, those made outside the territorial limits of said jurisdiction Chinese Europe Phone Number List (so-called "extraterritorial" income). This is why the partners or settlors of offshore entities are, almost always, foreign investors — who do not reside in that jurisdiction in which the offshore vehicle is incorporated : if the partner/settlor of an LLP in the United States is a resident of the USA, the income received by him would be taxed in North American territory, due to the residence of individuals.
It is interesting, therefore, for the tax efficiency of the offshore structure that 1) the LLC's income is not generated within the North American territory (income arising from a client located or activity carried out outside the USA); or 2) the partners/initiators of the offshore entity do not reside in that jurisdiction (they must reside outside the USA). Among the main offshore centers in the world are the famous Caribbean islands, such as 1) Cayman Islands; 2) British Virgin Islands and 3) Bahamas; as well as jurisdictions in Europe (Monaco; Liechtenstein; Cyprus, Gibraltar) and Central America, mainly Panama. In fact, Panama was the vector behind the scandal known as the "Panama Papers" , which exposed offshore structures set up in that jurisdiction held by various political leaders and multinational companies and which led to criminal investigations, particularly into corruption, bribery, money laundering, currency evasion tax evasionetc.
What are "tax havens"? Regarding the term "tax haven", it still creates a lot of confusion for the general public. In English, the term is "tax haven " (refuge; safe place) and not "tax heaven" (heaven; paradise), and means a jurisdiction (country or dependency) with low or no taxation on income, especially for offshore operations , that is, those made outside the territorial limits of said jurisdiction Chinese Europe Phone Number List (so-called "extraterritorial" income). This is why the partners or settlors of offshore entities are, almost always, foreign investors — who do not reside in that jurisdiction in which the offshore vehicle is incorporated : if the partner/settlor of an LLP in the United States is a resident of the USA, the income received by him would be taxed in North American territory, due to the residence of individuals.
It is interesting, therefore, for the tax efficiency of the offshore structure that 1) the LLC's income is not generated within the North American territory (income arising from a client located or activity carried out outside the USA); or 2) the partners/initiators of the offshore entity do not reside in that jurisdiction (they must reside outside the USA). Among the main offshore centers in the world are the famous Caribbean islands, such as 1) Cayman Islands; 2) British Virgin Islands and 3) Bahamas; as well as jurisdictions in Europe (Monaco; Liechtenstein; Cyprus, Gibraltar) and Central America, mainly Panama. In fact, Panama was the vector behind the scandal known as the "Panama Papers" , which exposed offshore structures set up in that jurisdiction held by various political leaders and multinational companies and which led to criminal investigations, particularly into corruption, bribery, money laundering, currency evasion tax evasionetc.
