cryptohunter
Active member
- PPF Points
- 2,273
Offshore companies started by Australian citizens are not considered Australian companies. An offshore company is a company incorporated in a foreign jurisdiction, outside of the country of residency of its owners or shareholders.
In the case of an Australian citizen starting an offshore company, the company would be considered a foreign company, regardless of the citizenship of its owners. The company would be subject to the laws and regulations of the jurisdiction in which it is incorporated, and may have different tax implications for the Australian citizen owners than a company incorporated in Australia.
It's important to note that owning and operating an offshore company is not illegal, but the company and its owners may have reporting and compliance requirements in both the foreign jurisdiction and in Australia, depending on the laws and regulations of each. It's advisable to consult with a qualified professional, such as an attorney or accountant, to understand the implications of starting and operating an offshore company.
In the case of an Australian citizen starting an offshore company, the company would be considered a foreign company, regardless of the citizenship of its owners. The company would be subject to the laws and regulations of the jurisdiction in which it is incorporated, and may have different tax implications for the Australian citizen owners than a company incorporated in Australia.
It's important to note that owning and operating an offshore company is not illegal, but the company and its owners may have reporting and compliance requirements in both the foreign jurisdiction and in Australia, depending on the laws and regulations of each. It's advisable to consult with a qualified professional, such as an attorney or accountant, to understand the implications of starting and operating an offshore company.
