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Types of Offshore Companies

An IBC (International Business Company)

IBCs have very little or no taxation on income, corporate profits and capital gains. Such companies are present in jurisdictions such as the British Virgin Islands and the Seychelles.

An LLP (Limited Liability Partnership) or LLC (Limited Liability Company)

LLPs and LLCs have the benefit of limited liability but with the profit division characteristic of partnerships, whereby profits are divided between partners based on their holding in the business. If the members or partners of an LLC/LLP are not domiciled and are non-tax residents within the jurisdiction of incorporation, and business activities are based outside of the country of incorporation, then neither the company nor the members/partners are subject to taxation in the jurisdiction of incorporation. Examples include UK LLPs and Isle of Man LLCs.

Certain Onshore Companies

Some company types, which have tax resident status, are used for international tax planning purposes due to factors apart from nil taxation on profits, income or capital gains tax. For example, the Luxembourg 1990 Soparfi is a normally taxed European company, subject to full taxation with access to Luxembourg’s double tax treaties. However, Luxembourg has structured the dividends and capital gains on a Soparfi such that it is very efficient as a holding company.

Offshore Jurisdictions