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Offshore Companies
Offshore companies may be used in a variety of ways to accumulate foreign source income or to preserve wealth. Such uses may include the following:
International Trade : The movement of goods across international borders offers many opportunities for the use of offshore companies. This may take the form of transfer pricing structures, commission agencies, provision of confirming finance, or the hire or leasing of capital assets.
Consultancy Service : The provision of financial, engineering, management or computer consultancy services to overseas contractors or foreign clients can be routed through offshore companies. An offshore company may also be used to provide the services of entertainers or sportsmen to international promoters.
Investment Holdings : Offshore companies are frequently used to hold investments in foreign based subsidiary or associated companies, foreign real estate, equities or bonds quoted on overseas or domestic stock exchanges, and foreign joint venture projects.
Licensing : Intellectual property such as patents, copyrights, designs, computer software, and technical know-how may be owned by an offshore company and licensed to third party licencees or sub-licencees. International franchises can be similarly structured through an offshore company.
Shipping : Offshore companies are the entities most commonly used for the ownership or chartering of vessels registered on offshore shipping registries. Ship management and other maritime services are often provided through offshore companies. Private yachts may also be owned by an offshore company.
Finance and Banking : Inter-group loans may be routed through an offshore finance company or a "captive" offshore bank to rationalise finance costs and to centralise funding controls. Financing of overseas subsidiaries or joint ventures may be more efficient if directed through an offshore company. An offshore bank may also be used to centralise treasury or money management activities, to raise syndicated loan funds, or to provide finance to group entities or clients.
Captive Insurance : One of the more sophisticated uses of an offshore company is to effect insurance arrangements through an offshore captive insurance company. The captive insurance company will insure the related company's risks either on a self assured basis or under cost effective reinsurance arrangement.
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