- offshore corporation
A corporation chartered under the laws of a country other than the U.S. that does not conduct substantial business in its country of incorporation. Some countries (particularly in the Caribbean) are popular nations of incorporation since they have little corporate regulation or taxes and only moderate management fees. Reasons to use an offshore corporation may include avoidance of taxes, ease of international operations, freedom from state regulation, and placement of funds in accounts out of the country.Category: Business, LLCs & Corporations → LLCs, Corporations, Partnerships, etc.
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
- offshore corporation
n.a corporation chartered under the laws of a country other than the United States. Some countries (particularly in the Caribbean) are popular nations of incorporation since they have little corporate regulation or taxes and only moderate management fees. Professional trustees and nominal officials in the country of incorporation perform routine contacts with the local government but take no active part in management. The reasons for the use of offshore corporations are best known to the incorporators, but may include avoidance of taxes, ease of international operations, freedom from state regulation and placement of funds in accounts out of the country.
Law dictionary. EdwART. 2013.
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