Offshore Limited liability company, Incorporate off-shore LLC
Offshore LLCs like regular onshore Limited Liability Companies combine some characteristics from partnerships and corporations. Offshore LLC is a legal form of business, which gives limited liability to its owners (members). It is not a corporation, but, like a regular corporations, offshore LLCs share limited liability. Offshore LLC shares the availability of pass-through income taxation with a partnership.
Owners of an LLC are called members. There is no strict ownership requirement, so an LLC members include individuals, corporations, other LLC or/and foreign entities. A single member for LLC is allowed too. Position like director in company is called manager in LLC.
Offshore LLCs are usually more appropriate for people in high-risk medical specialties and people whose insurance coverage is inadequate or unavailable.
Offshore Limited liability companies advantages:
- Creditor cant reach assets: assets cant be reached by creditors because of the "charging order" limitations and the legal and practical inability to collect against the Offshore LLC in a foreign jurisdiction.
- NO Tax Burdens: Offshore LLC is disregarded for tax purposes. No returns or informational filings are required. All income is reported on the owner's personal return.
- Estate Tax Savings: Estate tax advantages are the same as the Family Limited Partnership. Membership interests in an Offshore LLC can be transferred to family members at a discount for significant estate tax savings.
Fundamental concept of offshore limited liability companies
- The LLC is formed by filing Articles of Organization with the secretary of State
- An LLC does not have shares. The owners are therefore not shareholders but members
- The LLC can be formed with one member
- Members are not liable for the debts of the entity
- There is not tax liability on the LLC unless the members clearly choose to be taxed like a corporation (company limited by shares)
Supported locations for offshore LLCs:
- Anguilla offshore L.L.C.
- Cook Islands off shore limited liability company
- Cook Islands LLC Legislation
- Belize off-shore limited duration companies
- Costa Rica offshore LLC (sociedad limitada - SRL)
- Marshall Islands tax free offshore limited liability company
- Mauritius off-shore LLC
- Nevis tax exempt LLC
- Panama Limited liability company, Taxation of LLC
- Samoa Off-shore Limited Liabilty Companies
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