cryptohunter
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Here are some facts about opening an offshore company or bank account as a non-resident:
- Jurisdiction: Offshore companies and bank accounts are typically set up in jurisdictions that have favorable tax and privacy laws, such as the British Virgin Islands, the Cayman Islands, or Panama.
- Legal requirements: The specific legal requirements for setting up an offshore company or bank account will vary depending on the jurisdiction, but in general, you will need to provide proof of identity, proof of residency, and a business plan.
- Taxation: Depending on the jurisdiction, you may be subject to tax on the income generated by your offshore company or bank account. Some jurisdictions have no corporate tax, while others have low tax rates.
- Privacy: Offshore companies and bank accounts can provide greater financial privacy, as the information about the owners and their activities is typically not disclosed to the public.
- Regulations: Offshore companies and bank accounts are subject to local regulations, which can vary widely.
