Offshore companies are entities such as corporations or limited liability companies (LLCs) that have been filed outside of one's country of residence. Offshore company incorporation is utilized, among other things, by those interested in asset protection, business expansion and financial privacy. Listed below is information summarizing the reasons for which these entities are formed:
There are many zero tax jurisdictions; Cayman Islands are one of them. The ecommerce merchant will benefit from no taxes on corporate income and tax, dividends, and capital gains.
For more information on Cayman company structure go to the Cayman General registry at http://www.ciregistry.gov.ky. Latitude19 Technology has an extensive background with local businesses in the LAC and will make suggestions for business contacts related to the legal and business setup, banking, and physical presence if necessary.
The below processes illustrate the different areas the ecommerce merchant might consider when establishing an offshore entity for its card processing business.