Anyone stands to benefit from incorporation offshore. If we remember that offshore formations aren’t necessarily about getting established in some fancy Cayman Islands Company (although in reality, the Caymans are a lot less fancy and exotic then the name implies).
If you are an American and you form a company in Cyprus, that is considered an offshore company.
A foreign company established in a country other than the country of your residence, for all intensive purposes is considered an offshore company.
The confusion comes for most people is because there is such a tight association with the term offshore company and illegality. Whether its money laundering, tax evasion or straight-up drug dealing, the media has done a great job in misinforming people.
Offshore Companies are literally for anyone who owns a global, internet-based, digital, or services company.
It can also act as a holding company for assets or accounts, for holding property, intellectual property, patents, investments as well as conduct other financial and investment-related activities.
The benefits gained will be determined primarily on what one is hoping to achieve.While nearly everyone is hoping to reduce their taxes. It might not necessarily work for everyone to go from paying 40% taxes to 0% overnight. Though anyone can start a company offshore, not everyone receives the same benefits.
For today’s entrepreneur, too best take advantage of your financial freedom, the most reliable strategy is to create a global mindset, by creating an offshore lifestyle maximizing your international leverage by diversifying your residency, company and accounts across multiple jurisdictions.