Is it worth having an offshore company? Pros and cons

Is it worth having an offshore company? Pros and cons

Offshore companies have long been used by businesses and individuals as a means of reducing tax liabilities, protecting assets, and increasing privacy.

Pros of having an offshore company:

• Tax advantages can result in substantial savings for businesses
• Increased privacy for business owners
• Access to international markets
• Asset protection
• Cons of having an offshore company:
• Local regulations and compliance requirements
• Reputational issues
• Issues with opening bank account

The decision to use an offshore company should be based on a thorough assessment of the benefits and drawbacks, as well as an understanding of the legal and regulatory landscape in the chosen jurisdiction.

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