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Onshore reporting for offshore accounts, practicalities?
I'm still navigating the offshore world and trying to get my head around the practical aspects of reporting. For those of you with legitimate offshore corporate accounts, how do you manage the annual reporting to your onshore tax authorities, specifically regarding beneficial ownership and income, without it becoming an accounting nightmare? Is there a general approach or type of service you've found most efficient for ensuring full compliance without undue complexity, especially when dealing with multiple jurisdictions?
1 comments · 38 points
It's all about competent local counsel, mate. Don't try to DIY this. The right lawyers and accountants where your offshore entity is registered will sort out all the reporting to your onshore authorities. It's expensive, but cheaper than an audit.