cryptohunter
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Offshore companies can be set up for a variety of reasons that are not necessarily related to tax evasion or money laundering. Some common reasons include:
- Asset protection: Offshore companies can provide a layer of legal protection for assets, especially in countries with more stable and predictable legal systems.
- Confidentiality: Offshore companies can provide greater privacy for business dealings and ownership information.
- Diversification of business operations: Companies may set up offshore operations to diversify their business and reduce the risks associated with operating in a single country.
- Access to new markets: Offshore companies can help firms access new markets, especially in countries where foreign investment is encouraged.
- Cost savings: Setting up an offshore company can be more cost-effective for some businesses, as it can help to reduce labor, real estate and other costs.
