Are offshore companies required to keep financial records and books?
If Your government would not require to keep and file all those numerous financial reports and forms, what kind of financial recording would You do at Your own will? The difference would be quite substantial, right? Many offshore jurisdictions do not require any financial records to be officially filed. Quite simply, offshore companies are free to keep their books as they wish. However, since recently, some of the more advanced offshore financial centres have gradually realized that a mandatory requirement to maintain some formal financial records in an offshore company would actually be in the best interests of the beneficial owners of the companies, as this would provide the company owners with extra peace of mind. This aspect becomes specifically important when an offshore corporation is owned by several individuals, thus requiring a more elaborate system of management and controls.
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Republic of Seychelles
