A company is a legal personality and has many similarities with a natural person, it has a birth certificate (certificate of incorporation), an address (registered office) and as such may enter into legal contracts and obligations.
     
     In addition a company has a purpose and constitution (Memorandum & Articles of association or By-Laws in USA). The company is owned by its members (shareholders, stockholders or subscribers) who appoint officers (Directors and Company Secretary, and or President, Treasurer etc) to run the company.
     
     Usually, depending on the country of incorporation (legal jurisdiction), the names and addresses of the members and officers of the company are placed on public file.
     
     In the case of offshore companies, the positions of members and officers of the company are usually taken by nominees, and sometimes Bearer Shares are issued. See Nominee Director , Nominee Secretary , Power of Attorney & Nominee Shareholders .
     
     In general an offshore company pays either no tax or only nominal tax in its home jurisdiction.