Countries that provide significant tax incentives for businesses are generally referred to as tax havens.. In the sense of a traditional tax haven, this is the country in which someone can register a business- completely exempt from tax (excluding some government fees).
Some offshore countries have gone further, by abolishing taxation of activities and income for all businesses, both domestic and foreign. Therefore, you have a chance for example buy offshore in seychelles and enjoy such a tax haven.
Tax haven or offshore is created with only one purpose, to attract and register international business in a particular offshore country. For this, relevant bills and regulations are created and adopted..
These regulations may represent procedures:
- fast and efficient business registration;
- reporting;
- strict secrecy requirements in the financial and corporate sectors;
- a developed financial system without agreements on the disclosure of information to any foreign government.
