An “Offshore Company” is the term used for companies established under jurisdictions that allow them to operate anywhere other than in the specific jurisdiction they are regulated in. Therefore, “Offshore” Companies, also known as International Business Companies (IBC), are considered as “overseas” entities both in the area they are formed and elsewhere – eternally offshore or overseas. This arrangement implies an entity operating in a zero-tax environment.
“Offshore” companies are usually deployed in relation to international trade, holding companies, tax efficient structures and wealth management. Trust structures and other fiduciary arrangements are also users of offshore jurisdictions.
Historically, offshore jurisdictions were dominated by Caribbean Islands such as Cayman Islands, British Virgin Islands, etc. and certain small states around the European Mediterranean. Today, the UAE is leading the innovation in offshore jurisdictions offering a number of options across different Emirates and Authorities.
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