3 ms·
The way I understood it, correctly setting up an offshore company for tax avoidance is expensive -- there's no benefit unless you are already a multi-million $
by schnebbau 5y ago
The way I understood it, correctly setting up an offshore company for tax avoidance is expensive -- there's no benefit unless you are already a multi-million $ company. This is because you actually need a presence (including employees) in the haven country. So if that presence costs more than the tax you're hoping to avoid, then it's a net loss.
- sokoloff 5y agoThis presence is often an entry on a building directory and a registered agent willing to accept official papers (where that directory and that person serves as the registered agent for hundreds of companies). It’s still costly, but you only need a fractional “employee” not employees plural in many cases.