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What is an Offshore Company?

The term “offshore” was termed in the 1980’s and is used to describe a jurisdiction or country that provides corporate and commercial services to non- resident companies.

They are usually small, with financial centres hugely disproportionate to the population, and the attraction for companies and investors is the climate of low tax coupled, in many cases with privacy.

Today the most popular offshore jurisdictions include:

• British Virgin Islands – the largest number of registrations
• Bermuda - probably best known for aircraft registration.
• Cayman Islands - which has the most assets under management in offshore funds,
• Jersey - popular with the banking, fund management and professional services sectors.
• Luxembourg
• The Bahamas has a considerable number of registered vessels.
• Panama is a famous international maritime centre.

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