What is Offshore?

    British Virgin Islands Offshore Bank Accounts


    An individual or company is considered to be the subjects of taxation of the country under the sign of the seat (residence) in the country.

    Question of the principles of the location of the companies was taken up at court in England in the XIX century. English court decided that the location (residence), the company is the country of origin made tsentralizovanoe management of the company directors, living in the same country. The essence of this principle is that the company can be registered in any country and at the same time, there is not the case, if it owned and managed by non-residents of the country of registration, the scope of the company seeks outside this country and no income within the country did not receive. This company does not pay any income or other corporate taxes in the country. In other words, the company moves physical activity beyond the possible reach of tax authorities.

    It happens and the term "offshore", which means "for banks." In Britain, where he first applied, it is both mean and "abroad". Thus, the term "offshore" is not legal, and likely economic and geographical.



    Business Articles Index / Offshore