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What is an offshore company ?

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What is an offshore company ?

  • In all jurisdictions, it is absolutely impossible to find the definition of the word “offshore company” in their Company Acts or Company Ordinances or Rules. Each country has her definition of the type of companies according to her laws. You may come across a lot of words such as Llc or Inc in USA, Limited or Ltd in UK, Sarl in France, Srl in Italy, Gmbh in Germany, etc. They may classify companies in terms of local company or overseas company, group company or individual company, listed company or unlisted company, limited company or unlimited company, private company or public company, holdings company or subsidiary company. In fact, offshore company can be found only in common practice for those professionals who provide offshore services for international business. In my understanding, offshore company is a company registered in other jurisdictions in which the local authority of your country has no ruling powers. Ruling power means government cannot enact such laws to control or rule over other territory of another jurisdiction. In you find from encyclopedia, you can see that an offshore company is defined as a company, which is incorporated outside the jurisdiction of its primary operations.

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