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Off-shore Companies

Tax legislation of any country automatically prompts businessmen to search for a legal way of tax planning. And this causes the appearance of a corresponding service market. Legal tax planning is not just good book-keeping and correct composition of the financial performance report but a legal opportunity not to pay taxes at all or reduce them to a minimum amount in comparison to the amount of active rates.

Offshore business acquired preponderance in the world capital turnover. Features and new opportunities that are offered by this business, deserve constant attention. It is a known fact that quite a lot of foreign businessmen do their business through offshore companies. Taxes in Europe are high and many people try to minimize them. In Denmark, for example, people joke that tax evasion is a national sport (up to 62%).       

Tax planning and carrying out entrepreneurial activity with the help of non-residents, icluding those that are located in offshore zones, requires the availability of a large amount of information on legislation, economics, etc. Offshore – is a tool that provides legally correct results only when the laws of the country the company is registered in and also those countries where the company’s operation takes place, are strictly upheld.

Moreover, the main rule that has to be followed while establishing and using offshore companies – the standards of the domestic legislation and the laws of the company’s regisration country have to be taken into consideration. Non-compliance of basic legislation demands while registering and using offshore may have an unfortunate result. It is better to take care of all necesarry formalities in order to ensure the protection of personal savings against possible infringements from tax authorities.