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offshore corporation definition
a corporation chartered under the laws of a country other than the United States.
Some countries (particularly in the Caribbean) are popular nations of incorporation
since they have little corporate regulation or taxes and only moderate management
fees. Professional trustees and nominal officials in the country of incorporation
perform routine contacts with the local government but take no active part in management.
The reasons for the use of offshore corporations are best known to the incorporators,
but may include avoidance of taxes, ease of international operations, freedom from
state regulation and placement of funds in accounts out of the country.
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