Onshore is a term used in finance to denote the jurisdiction in which a company is domiciled and in which it pays a significant rate of tax. It is the opposite of offshore, which denotes a tax haven. Generating profits offshore may have certain tax advantages for companies.
Sometimes in one jurisdiction you can open offshore and onshore company. Not all European countries are high-tax jurisdictions. Indeed, tax advantages and discretion normally associated with offshore companies can be achieved by using EU jurisdictions like Malta. Such EU companies enjoy these advantages together with access to more sophisticated banking and financing facilities available to European operators, with the likelihood of further advantages such as an English speaking workforce, lower average wages and more closer geographical location to other European countries.
Onshore jurisdictions:
- UK
- New Zeland
- Hong Kong
- Cyprus
- Danemark
- USA
- Singapore
- Switzerland
- Gibraltar
- Austria
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