Offshore company is a company which is registered outside the country you live in.
What is a local company ?
Local company is a company which is registered within the country you live in.
Why register local company ?
Some business must be registered as local company as it is indeed engaged for local business like restaurant food business. Or some businesses which are only allowed to do locally have to be registered as local company.
Why register offshore company ?
Registering as an offshore company to run business does have some advantages:
a) Enjoyment of low tax or free tax business
b) Protection of privacy;
c) Allowance to engage special kind of business;
d) Expansion of business further outside the local area.
Can I use offshore company to run local business instead of local company ?
Basically, except by special restrictions, it is allowed to use offshore company to run local business instead of local company. For example, if you do trading business, and you need to buy products from China, the suppliers may only sign contracts with Chinese companies, so client is better to register an offshore Chinese company to sign supplier contracts in China and sell back locally which may create a monopoly in local area.
Can I use offshore company to run offshore business ?
Yes, it is a definite advantage to use offshore company to run offshore business.
What are offshore jurisdictions ?
Offshore jurisdictions are the countries which provide registration of offshore
How many offshore jurisdictions are available in the global world ?
May jurisdictions clam to be offshore, some of which you must hear before like Anguilla, Belize, BVI, Cayman Island, Marshall Island, Nevis, Samoa, and Seychelles, etc.