General Knowledge About Offshore Companies
Aren`t all offshore companies used by criminals and money-launderers?
Well, aren`t domestic companies used by these guys, too? Offshore tax havens have for decades been targeted by blackmail campaigns by the powerful high-tax jurisdictions. Many high-taxing, high-spending governments would like everyone to believe that offshore companies are only used by fraudsters, terrorists and crooks. That`s completely unjustified. While there is always a rotten apple in any box (especially, if the box is large enough), 99% of all business transacted through offshore companies is completely legitimate. In fact, due to the inherent need to maintain their reputations clean and well in order to withstand international pressure, most leading tax haven countries nowadays have proper systems to detect and prevent financial crime and money-laundering. Many of the big, powerful nations, who are so eager to criticize the offshore financial centres, should better look into their own backyard for fraudsters and embezzlers.