News

4/8/2019 - Offshore (Tax Heaven) 

The word “offshore” is derived from the English word, which means "without a shore". The offshore implies the world's financial centers, which offers foreign companies not only for taxation but also some other special benefits. It is noteworthy that the activity of legal entity registered in the offshore zone is permitted in Georgia and does not conflict with the legislation.

Effective and profitable businesses become difficult in such environment in which we live. The desire of a human to have high quality services and availability of different goods at as low as possible prices imposed more and more burden on this or that company. Of course, this directly pushes the business owner to find a way, which will allow reducing costs. However, in countries with high taxes, such a goal is not easily achieved. The only way is to find another countries with favorable tax climate, where are low and sometimes no taxes at all.

The customer’s question of what is the most profitable and desirable country having offshore jurisdiction, there is no standard answer because it depends on the specifics of the business, the customer's requirement and a number of circumstances that are directly related to the satisfaction of different desires.

The issues relative to the offshore is differently regulated under the laws of different countries. Consequently, the choice of jurisdiction with favorable tax benefits is one of the most important issues for business operation. Moreover, the offshore law and regulations are characterized by not-so-rare changes. In today’s rapidly changing environment, it is especially important for competitive business to adapt to the latest changes as soon as possible and with less cost.

For the selection of the correct strategy and environment it is important the correct assessment of the customer's activity, which in turn includes analysis of business plan, directed goal, business action areal and duration. As a result, it becomes much simpler the selection of jurisdiction having suitable low-taxes, attractive incorporative legislation, a stable monetary unit and banking transactions without restrictions, strict confidential law, politically and economically stable and growing environment, strong banking sector, the appropriate state language and at the same desired time zone.

It is noteworthy that the existence of a bank account for the offshore company in different countries makes business activities more flexible and various assets liquid. Existence of money funds in several currencies and several bank accounts in the bank of different countries, except flexibility, protects business from various risks.

(more: http://lcs.ge/en/news?n=34&i=&w=