Private Companies have historically been used as a means for one or more persons to jointly pursue a business interest, whilst limiting their exposure to personal liability.
Private Offshore Companies offer further incentives to investors as most enjoy the status of being exempted from corporation tax, capital gains tax, VAT, inheritance and wealth tax. Many Offshore Financial Centres (OFC's) have no tax treaties or exchange of information agreements with other countries and thereby the name of the beneficial owner of an offshore company does not have to be revealed to the authorities by law and confidentiality is assured. These companies are generally used for -
- Website holding
- Investment holding
- International import/export trading
- Personal Service companies
- Portfolio management ,
- Property holding