The term offshore company is ambiguous. It may refer to either:
- A company which is incorporated outside the jurisdiction of its primary operations regardless of whether that jurisdiction is an offshore financial center (sometimes known as a non-resident company) i.e. a Canadian company may be 'offshore' for the purposes of a USA citizen ; or,
- Any company (resident or otherwise) incorporated in an offshore financial center, i.e. offshore jurisdictions
Typically the requirements for company registration under the relevant provision for non-resident status (as in the former of the two options above) will be pursuant to some or all of the following criteria in a strict legal sense according to Offshore Company Law:Theory, Regulations& Operation(By Zhang Shiwei, China Law Press, 2004):
- Must be incorporated under Offshore Company Laws and regulations of offshore jurisdictions
- Must be incorporated by non-residents of offshore jurisdictions
- Must not trade within the offshore jurisdictions; and/or,
- Must meet nominal tax expenses levied by the offshore jurisdictions.
Read more about Offshore Company: Practical Uses of Offshore Companies, Disadvantages, Legitimate Uses of Offshore Companies, Illegitimate Uses, Importance of Choosing A Legitimate Jurisdiction, Features of Offshore Companies, Types of Companies, Merger, Relocation of Companies, Offshore Jurisdictions, Buenos Aires Ban of Offshore Companies
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