Non-resident companies in some countries are not required to publish financial information or the details of directors and shareholders, giving confidentiality and anonymity to these individuals. Most offshore financial jurisdictions will only reveal this information to a third party if criminal or terrorist activities are suspected.

There may be tax advantages to an offshore company. Offshore companies are only subject to UK tax on their profits arising in the UK. Even UK source dividends paid to an overseas company should be free of tax.

However, for UK permanent tax residents setting up an overseas company, these tax advantages are likely to be minimal due to increased anti-avoidance legislation, essentially making the company transparent for tax purposes so that the individual is taxed on the company’s profits. In addition, where overseas companies are controlled and managed from the UK then they are generally treated as UK resident, therefore fully subject to UK tax.