Yes, it is mostly about avoiding high corporate taxes.
Secondarily, there is privacy of the owner's information and non-burdensome
corporate administration. Some may disagree but it is what it is. If the tax
rate for the offshore company was the same as a company you could incorporate in
your home country would you bother to use an offshore company? I don't think
The privacy and easy administration of the offshore company is secondary in the
decision making process to incorporate offshore.
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