5 business formation terms starting with O: plain-language definitions for founders incorporating across jurisdictions.
OECD Pillar Two is the OECD/G20 framework imposing a 15% global minimum effective tax rate on large multinational groups via the GloBE rules.
Offshore Jurisdiction is a country or territory offering favorable tax, secrecy, and corporate flexibility regimes to non-resident companies whose business activity occurs primarily outside the jurisdiction.
Onshore Jurisdiction is a standard tax-resident jurisdiction where companies are subject to the country general corporate tax regime, public registries, and full regulatory framework, with no special non-resident carve-out.
Operating Agreement is a private written contract among the members of an LLC that governs ownership percentages, profit allocation, voting rights, management, and exit terms.
Osauhing is the Estonian private limited company, the workhorse entity for Estonian SMEs and remote founders using the e-Residency program.
