offshore corporation

offshore corporation
   A corporation that is chartered under the laws of a country other than the United States. Some countries (particularly in the Caribbean) are often used as places of incorporation because they have little corporate regulation and low tax rates. Professional trustees and nominal officials in the country of incorporation deal with the necessary contacts with the local government but are not active in the management of the business. Offshore corporations may be useful in a number of areas, such as tax avoidance, easier international operations, and reduced state and banking regulations.

Business law dictionary. 2015.

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