{"id":536,"date":"2022-10-04T09:55:02","date_gmt":"2022-10-04T09:55:02","guid":{"rendered":"https:\/\/webfastsg.com\/offshore\/?post_type=encyclopedia&#038;p=536"},"modified":"2022-10-04T09:55:02","modified_gmt":"2022-10-04T09:55:02","slug":"offshore-formation","status":"publish","type":"encyclopedia","link":"https:\/\/webfastsg.com\/offshore\/encyclopedia\/offshore-formation\/","title":{"rendered":"Offshore Formation"},"content":{"rendered":"<p><span data-sheets-value='{\"1\":2,\"2\":\"An offshore company is a company that is registered in a jurisdiction other than the country in which it operates. The main advantages of setting up an offshore company are: 1) Tax benefits &ndash; Offshore companies are often taxed at lower rates than domestic companies. 2) Asset protection &ndash; Offshore companies can be used to protect assets from creditors and lawsuits. 3) Confidentiality &ndash; Offshore jurisdictions have strict confidentiality laws that make it difficult for outsiders to obtain information about the company.\"}' data-sheets-userformat='{\"2\":769,\"3\":{\"1\":0},\"11\":4,\"12\":0}'>An <a href=\"https:\/\/webfastsg.com\/offshore\/encyclopedia\/offshore-company-2\/\" target=\"_self\" title=\"An offshore company is a legal entity that is registered in a jurisdiction other than the owner's home country. The term &quot;offshore&quot; typically refers to countries with lower taxes and fewer regulations, which can be attractive to businesses and individuals looking to minimize their costs. Offshore companies are often used for international trade, asset protection,&hellip;\" class=\"encyclopedia\">offshore company<\/a> is a company that is registered in a jurisdiction other than the country in which it operates. The main advantages of setting up an <a href=\"https:\/\/webfastsg.com\/offshore\/encyclopedia\/offshore-company-2\/\" target=\"_self\" title=\"An offshore company is a legal entity that is registered in a jurisdiction other than the owner's home country. The term &quot;offshore&quot; typically refers to countries with lower taxes and fewer regulations, which can be attractive to businesses and individuals looking to minimize their costs. Offshore companies are often used for international trade, asset protection,&hellip;\" class=\"encyclopedia\">offshore company<\/a> are: 1) Tax benefits &ndash; Offshore companies are often taxed at lower rates than domestic companies. 2) Asset protection &ndash; Offshore companies can be used to protect <a href=\"https:\/\/webfastsg.com\/offshore\/encyclopedia\/assets\/\" target=\"_self\" title=\"An asset is anything that can be used to produce economic value and generate benefits. It may be tangible, like a factory or piece of land, or intangible, like a patent or copyright. In accounting, assets are divided into two broad categories: current assets and non-current assets. Current assets are those that are expected to&hellip;\" class=\"encyclopedia\">assets<\/a> from creditors and lawsuits. 3) Confidentiality &ndash; Offshore <a href=\"https:\/\/webfastsg.com\/offshore\/encyclopedia\/jurisdictions\/\" target=\"_self\" title=\"A jurisdiction is an area within which a legal system operates. The concept of jurisdiction is important in public and private international law, as well as in domestic legal systems. Jurisdiction allows a state to exercise its authority over persons and property within its territory. It also allows a court to hear and decide cases&hellip;\" class=\"encyclopedia\">jurisdictions<\/a> have strict confidentiality laws that make it difficult for outsiders to obtain information about the company.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>An offshore company is a company that is registered in a jurisdiction other than the country in which it operates. The main advantages of setting up an offshore company are: 1) Tax benefits \u2013 Offshore companies are often taxed at lower rates than domestic companies. 2) Asset protection \u2013 Offshore companies can be used to &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/webfastsg.com\/offshore\/encyclopedia\/offshore-formation\/\"> <span class=\"screen-reader-text\">Offshore Formation<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":3,"template":"","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":""},"encyclopedia-tag":[],"class_list":["post-536","encyclopedia","type-encyclopedia","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/webfastsg.com\/offshore\/wp-json\/wp\/v2\/encyclopedia\/536"}],"collection":[{"href":"https:\/\/webfastsg.com\/offshore\/wp-json\/wp\/v2\/encyclopedia"}],"about":[{"href":"https:\/\/webfastsg.com\/offshore\/wp-json\/wp\/v2\/types\/encyclopedia"}],"author":[{"embeddable":true,"href":"https:\/\/webfastsg.com\/offshore\/wp-json\/wp\/v2\/users\/3"}],"wp:attachment":[{"href":"https:\/\/webfastsg.com\/offshore\/wp-json\/wp\/v2\/media?parent=536"}],"wp:term":[{"taxonomy":"encyclopedia-tag","embeddable":true,"href":"https:\/\/webfastsg.com\/offshore\/wp-json\/wp\/v2\/encyclopedia-tag?post=536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}