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Originally Posted by onceapilgrim
He's not an idiot to ask that question.
There are loads of pitfalls to setting up offshore companies, depending on where you are loacted and where you want the offshore setup located.
In general, it immediately alerts the inland rev and puts up a big red flag above your name.
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lol you're an idiot, yea OKAY you must be a terrorist for setting up a offshore company.....there are plenty of legitamite uses for a offshore company, example such as: you need a presence in a european bank to pay out european affiliates and make it easier on taxes, etc....they wont protect you as a US corp but you will get protected in case if anything happens to the bank if you're under a IBC in their juridisction, i can name a bunch of reasons, there is no US Law that prevents it's citizens from forming IBC's...do your research before you post..