For the right person, there are number of benefits to establishing a corporation in a non-domicile jurisdiction. In the press, the term “offshore corporation” is used, sometimes as a pejorative term, but in fact, an “offshore corporation” is simply a corporate entity set up in a jurisdiction other than the jurisdiction where the beneficial owner is located. These corporations do not have to be mysterious, and in fact can be used for a number of legitimate purposes:
- To hold assets and/or do business in a foreign jurisdiction;
- To protect the beneficial owner from personal liability;
- To provide the beneficial owner with a greater degree of financial privacy.
Our firm can assist and advise clients on where, how and why to set up corporate entities outside of the United States.