Legal English

Today we turn to specific areas on the map of our country - those where the law requires a special taxation regime. Opening companies in similar areas allows entities to avoid additional fees and maximally take advantage of tax exemptions.

Offshore zone and stimulate

Offshore companies (offshore companies) called the company, created in the offshore area (reduced taxation) - mostly small countries and territories of the Commonwealth (though the list includes some U.S. states, such as Delaware). Below are some areas of tax benefits:

- Utah (Utah), USA
- Delaware (Delaware), USA
- Panama City (Panama), Central America
- Ireland (Ireland), Europe
- Isle of Man (The Man Island), Europe
- Jersey Island (The Jersey Island), Europe
- Liberia (Libery), Africa
- Gibraltar (Gibraltar), Europe
- Singapore (Singapore), South East Asia
- Samoa (Western Samoa), Pacific
- Cyprus (Cyprus), Europe.

Depending on the location of the administrative and financial management of the company with respect to the territory of registration of offshore companies can be resident (resident) and non-resident (non-resident). Resident in the tax law is a legal or natural person (whether legal or natural person), a resident of that country; under British law (the UK belongs to a series of offshore zones) - a person living in the country permanently, or a significant period of time, or has it permanent home. It should be noted that a person is considered a resident if resident in the country for more than 6 months in the tax year, or there is a "center of their life or business interests", or otherwise meet the criteria set by domestic law (legislation) in the country.

For legal persons are taken into account during its formation, registration, location "control center", and other similar criteria. With regard to the registration, the registered company / office (registered office) called the office of the company is registered at the address where all correspondence should be sent to the company. Approximate time for the registered office of the defined start date of registration of the company or the last. Notice of the address of the registered office of the company or its subsequent changes, the laws of the United Kingdom, shall be forwarded to the Registrar of Companies (Registrar of Companies) no later than two weeks after incorporation or change of address. Under the "control center" means the principal office of the company (head office), that is the place where the company's core business and is conducting negotiations. It should be noted that the main office is not always the same as the address of the registered office of the company. Persons who are recognized by residents of the country, subject to the principle "unlimited tax liability," which states that residents are subject to tax in this country are all accepted norms and pay taxes on income from all sources, including overseas. For non-residents there is only a "limited tax liability": they are required to pay taxes only on income originating from sources in that country.