Sep 05 2009
Offshore
Reasons for Going Offshore
The reasons for going offshore and utilising offshore companies for tax planning and offshore business include:
- Free remittance of profits and capital
- Access to top-rated debt history jurisdictions
- Access to tax treaties
- Security of property rights
- Accessing low cost areas
- Banking privacy
- Availability of offshore experts
- Access to foreign insurance and reinsurance
- Enhanced privacy
- Customs and duty exemptions
- Exchange convertibility
- Government cooperation
- Fair treatment
- Territorial taxation on foreign income
- Fewer restrictions
- Sanctity of contracts
- Foreign investment inducements
- Tested legal systems
- Higher yields and returns
- The availability of sophisticated banking facilities
- Reduced taxation
- The search for political stability