offshore corporation

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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.

References in periodicals archive ?
LAHORE -- Not satisfied with Pakistan Tehreek-i-Insaf Punjab President Abdul Aleem Khan's reply, the National Accountability Bureau (NAB) has summoned him for Thursday (tomorrow) to quiz him about his offshore company revealed in the Panama Papers.
Imran Khan's lawyer Naeem Bukhari said that his client didn't hide any asset from his 1997 nomination papers while Abbasi's lawyer Akram Sheikh refuted that the PTI chief didn't show his London flat and offshore company in the papers during 1997.
Imran's ex-wife help came after PTI's counsel had admitted before the Supreme Court that it was an omission on the part of his client that he did not disclose his offshore company in his asset details submitted before the Election Commission of Pakistan (ECP) and the Federal Board of Revenue (FBR).
org/en/panamapapers/persons/peskov/) linked , via his wife, to an offshore company.
Offshore companies -- or potentially a corporate trustee -- can, therefore, be used to own shares of a Jebel Ali offshore company owning the property, thus taking it outside the scope of the UAE inheritance legislation.
This guide has been prepared by the Trident Trust Group who are leading offshore company and trust specialists with many years' experience working with advisers worldwide in the field of offshore trusts and international tax planning.
The NAB has also written to the SBP Governor, Chairman of Securities and Exchange Commission of Pakistan and sought information regarding remittances and complete record of offshore company (Olive Grove) directorship and any other record relating to subject accused and offshore company of PML-Q MPA Moonis Elahi and his wife Tehreem Elahi.
ISLAMABAD -- Pakistan Tehreek-e-Insaf (PTI) leader Jahangir Tareen and his wife are lifetime beneficiaries of the offshore company trust, it was revealed on Monday.
He said that PTI chief Imran Khan had repeatedly saying that purpose of offshore company was to evade taxes, now he was also found involved in tax evasion after revelation of his offshore company.
Russia's Novaya Gazeta newspaper reported Sunday that Peskov himself may have broken Russian law through an offshore company owned by his wife, Tatiana Navka.
An offshore company is a business that is incorporated outside the jurisdiction of its primary operations.
The Trident Trust Group are leading offshore company trust specialists with offices in most of the major offshore centres around the world.
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