6 ms·
Your comment doesn't contain an answer to my question. Having entities in different countries for easier interface with local customers and authorities is very
by justsaysmthng 11y ago
Your comment doesn't contain an answer to my question.
Having entities in different countries for easier interface with local customers and authorities is very different from transferring ownership or large chunks of money to a company registered in the British Virgin Islands, population 28,054.
Maybe "it's just mechanics" in some countries where corruption is low, but the world is very corrupt and offshore companies are tools which allow for this corruption to happen.
- kasey_junk 11y agoHere is a more direct answer then. Banning trading with foreign companies would destroy international trade for the company doing the banning. Most jurisdictions view the benefits of that trade to be worth the costs. As for legislating how you can do transfers/ownership/taxation etc of foreign entities and cash, every jurisdiction in the world already legislates that. This article is about a law firm that exists solely as experts in that area for instance.