Offshore Corporation/Tax Haven - Dissertation Example

A domestic corporation can no longer serve the needs and demands of business in this day and age. Due to faster planes, the Internet, electronic documents, digital demands, and virtual everything, it definitely is a small word after all! Internationalization is something that the business environment must consider or those who do not will fall behind as they cannot keep up with the global way of conducting business. Planning and conducting business today requires the need to think quickly and think ahead.

It requires a complex structure that will keep a corporation at an advantage, able to meet the calls of a face-paced world and yet still be able to acquire the state of being unknown, or unacknowledged. A domestic, “of or relating to a country's internal affairs” (The American Heritage® Dictionary of the English Language, Fourth Edition 2000), business cannot meet the needs of business that has gone global. Offshore, or foreign, corporations offer many benefits and advantages that entrepreneurs can use in order to stay at the top.

In the financial industry, the word offshore means a tax jurisdiction other than where the investor lives. Offshore corporations can be profitable in many ways such as the protection of your assets and to provide financial privacy. There are many reasons for forming such a corporation. Hence, it is wise to take the time to fully understand the details of forming a corporation of this type.