In modern market conditions, concepts such as offshore zones and offshore companies have become quite stable. In the media you can see a lot of ads that offer services for registering an enterprise in tax-free territory or opening an account with a major bank in the world.
Definition
Offshore companies are legal entities registered in a jurisdiction in which there is no currency control and preferential taxation is applied. These organizations do not carry out activities in the territory where they are registered. The owners of such firms are non-residents of the country. Such organizations arise in those countries whose laws fully or partially exempt enterprises that do not conduct business in the territory of registration from taxation. It should be noted that the benefits apply only to the part of work outside the country where the company is registered. To conduct a full-fledged business in any other state, it is necessary to conclude an appropriate agreement. This avoids double taxation.
Offshore companies: 44 Federal Laws
On August 13, 2015, Law No. 227 came into force. It introduced a number of amendments to the regulatory act governing the procurement contract system to ensure municipal and state needs. From this moment, customers in the documentation establish a mandatory requirement for participants that they do not act as offshore companies. This provision, however, does not apply to quotation request, electronic auction and pre-selection. In the first and last cases, control over the implementation of amendments to the Law is carried out at the conclusion of the contract. At an electronic auction, the site operator will refuse to register if offshore companies submit an application. 44 Federal Law in all other cases requires the commission of the customer to establish the nature of registration of the participant. However, she does not have the right to demand from the organization submitting the application confirmation of the fact that she is not an offshore company.
Specificity
According to the provisions of international law, offshore companies are independent organizations that operate under the laws of the countries in which they are registered. Today, about 60 countries are present in the world, whose normative acts provide for preferential taxation. Enterprises registered in such countries can open accounts in any large banks in unlimited quantities. In fact, the activities of such organizations are not accountable to anyone. In almost all "tax-free" countries, annual reporting consists of a fixed fee.
Appointment
There are several reasons why businessmen open offshore companies. It:
- Safe. Suppose an entrepreneur has some funds available that he wants to put in a safe place. Moreover, he would like to have immediate access to them, freely manage his money and move it around the world. In addition, the businessman seeks to get away from political instability in his country, to ease his tax burden. To solve all these problems, you need to find a bank in a reliable state. But he will not be able to open a private account in a foreign financial organization, since this requires a license from the Russian Federation. In addition, there is a likelihood of disclosure of its data. In particular, in the payment documents in the field "Recipient" will be indicated his name or a credit card will indicate the presence of an account abroad. However, the law does not prohibit opening an enterprise in its own name and registering it in a "tax-free country." The businessman will be the director and manage the company's account. And no one will know that he is the owner.
- Member of the business. In conducting foreign economic activity, the enterprise needs to optimize taxes, accelerate cash flows, simplify document management, and protect itself from fiscal services. Offshore companies are a business model that allows you to get rid of many problems. Such organizations act as intermediaries between the local enterprise and the buyer (seller) in conducting foreign economic activity.
- Participant in the securities market. In this case, an offshore company opens a special account in a domestic bank and works with government bonds.
- OS sale. When importing, for example, a bottling line, you do not have to pay VAT and customs duty. When opening an offshore company, fixed assets are paid in as a charter capital. It is also possible to lease equipment for a domestic enterprise, transfer interest on it abroad, and include payments in expenses.
Domestic practice
Offshore companies in Russia are of particular value. It consists in the possibility of legally free movement of capital. In the face of a heavy tax burden that can destroy entire sectors of the economy, it is an offshore scheme that allows you to achieve high profits in the business. The need to create such an organization arises, as a rule, for those entrepreneurs who receive good income and want it to remain that way and not change in the event of market instability or government intervention. It should be said that the use of offshore is widespread throughout the world. However, the goals of creating such organizations are different. As for Russia, here entrepreneurs, as mentioned above, are trying to protect their capital from taxes, an ineffective fiscal policy, an unfavorable investment situation in the country and high risks. This is the main motivation for exporting money supply abroad and hiding the fact of ownership of an object on the territory of the state.
How to check if the company is offshore?
This can be done in two ways: on your own or seek help from specialists. How to confirm that the company is not offshore, yourself? To do this, you need:
- Examine all published information about the company of interest.
- Send inquiries to different government agencies.
However, this process will take a lot of time. In addition, there are absolutely no guarantees that all requests will be answered, and some facts can be clarified only with the necessary connections.
Help firms
As for specialists, many of those who offer such assistance have been searching for information for quite some time. This means that they have the necessary connections, experience and knowledge. Such companies may provide information on:
- The amount of the authorized capital of the company of interest.
- Profitability.
- Reliability.
- Liquidity
- Balance sheet.
- The presence of relations with other companies.
- Manual.
- Activity stories and so on.
Conclusion
The reliability of the information, of course, will depend directly on the performer himself. But, as practice shows, in 90% of cases the information provided by such specialized firms is worth believing. It should be said that an independent search for information, as a rule, does not lead to anything or the interested person receives only superficial, irrelevant information. In order not to waste time, it is better to pay specialists who will provide answers to all questions.