cryptohunter
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A company may use an offshore shell company when they want to take advantage of lower tax rates, confidentiality, and more flexible business laws and regulations offered by a foreign jurisdiction. Here are some common reasons for using an offshore shell company:
- Tax optimization - Offshore shell companies can be set up in jurisdictions with lower tax rates, allowing companies to minimize their tax liabilities.
- Confidentiality - Offshore shell companies offer a higher degree of privacy compared to onshore companies, as their ownership and financial information are typically not publicly available.
- Business expansion - Offshore shell companies can be used to enter new markets and expand a company's global reach, without being subject to the same regulations and taxes as an onshore company.
- Asset protection - Offshore shell companies can be used to protect a company's assets from legal claims, bankruptcy, or other liabilities.