Offshore Tax Strategy: The Most Important Factors You Must Consider

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How does international tax work? What are the factors that you must consider when designing an international tax structure? We are going to give answers to these questions today!

When thinking about international tax planning there are some important factors that you must look at:

Residency: residency of the company, residency of income, and your personal residency (residency of the shareholders). These are the most important things to look at because they determine which rules will apply to you, and where you will be taxable.
From here we need to think about management and control rules, and whether they apply in your case or not.

Residency of the income relates to where the work gets done. This would be the most simplified answer.

Residency of the shareholders. This concerns you personally but also concerns your company. Depending on your country of residency you will trigger (or not) Controlled Foreign Company rules, known as CFC rules. These rules would prevent you from keeping your funds in an offshore company and not taking income personally and bringing it back to your home country. You would be taxed as if you brought income back home, and claimed it personally.

These are some of the most important factors to look at. These things are super complex and some countries are harder to deal with than others. That's why it's always important to be super careful when doing your tax planning. If you don't do it correctly it will get you into lots of trouble!

If it looks easy, you're doing something wrong! That's why you should always talk to professionals when planning to do offshore structuring.

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We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc.

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Author: Michael Rosmer

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