I see the same thing now with the overvaluation of offshore companies.
The offshore companies are registered in the country they reside.
The island is home to many offshore companies that do business worldwide.
But if the nonprofit invests in an offshore company, there is no tax.
What sort of assets in offshore companies does he have?
But legislators should also take action to end basic tax avoidance by means of offshore companies.
For a legal entity to be able establish itself as an offshore company, it must meet certain criteria.
All plans are offered with guaranteed clean title in offshore companies.
"Many offshore companies have been created by ex-regime people," he said.
In addition, he said, offshore companies may operate with less regulatory oversight.