How to Offshore: Useful Tips and Tricks from Leaked Apple Inc. Papers

Learning from the best is always a skillful strategy. Apple has always been the company to look up to and now we have a chance to sneak into their offshore tax strategy. The Paradise Papers, revealed on November 5, can become a guide for the newbies on a business field. Offshore matters are very sensitive and need to be individually selected. What can we learn from the Apple experience here?

Corporations whose incomes are measured in billions dollars are obliged to keep their fingers on the pulse in the offshore field. Before the law amendments, Apple used Ireland as a tax shelter. The changes were due to the European Union’s requirements to Ireland to update tax legislation. The EU considered that drawing corporations to your country is an improper action for the Union member.

Apple, as the company with the far-reaching plans, chose to move subsidiary companies away to Jersey, exactly right after Ireland became not a reliable place to keep funds. The leaked documents revealed the process of moving offshore companies that belong to Apple.

The first step was to recruit a Bermudian company that consulted Apple on this matter. This company is a specialist on consulting about the best tax rates and creating the most efficient subsidiary companies, like Offshorelicense Ltd.

The decision was taken in the early 2015 and Apple Operations International (AOI) and Apple Sales International (ASI), Irish subsidiaries of Apple Inc. were moved to Jersey.

At the same time, we have to remind you that creating offshore opportunities for business is not a violation or misuse of any kind. The above-mentioned company is a really good example of correct and efficient use of overseas business opportunities. Apple’s representative expressed the official position of the company. They indicate that moving subsidiaries did not affect their tax burden in any way and Apple remains one of the world’s largest taxpayers. Corporate income tax, property tax, payroll tax, sales tax and other types of fees – all these payments are still processed by the company and they support every country where affiliated companies are established. They declare that moving to Jersey did not cause any benefits for Apple and their liability stays the same.

Reliable and serious companies use offshore opportunities wisely and Offshorelicense Ltd is always here to assist you with choosing the best jurisdiction to base your business entity. Political matters can be adverse sometimes but your professional consultant is the one who will help you to constantly monitor the current situation.