Limited liability company functions? There are no special circumstances in which you would be required to set up a limited liability company. An LLC is a type of legal person that successfully combines most of the most desirable attributes of other types of businesses, which explains why most entrepreneurs choose an LLC when starting a business. Additionally, there are simplified accounting and record keeping requirements for LLCs in many offshore jurisdictions. We usually recommend that our clients consider an LLC as a viable option if they want to start a trading company or a small business within certain limits. LLCs are perfect for those looking for a way to run a business (local or international) and distribute profits with minimal cost. However, you should always keep in mind that an LLC typically does not provide an effective mechanism to induce a partner with limited voting power or large numbers of investors into your business. In these cases, we encourage you to consider a limited partnership or a public company, as these may be more effective ways of achieving your goals. Starting an offshore company in a tax haven can be a great way to cut maintenance costs.
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