Setting up an offshore company as freelancer or for a web-based business gives a lot of advantages and the most.. Tax free for some jurisdictions.
As a freelancer I have setup an offshore company with offshore bank account and wanted to share my experience.
I used a corporate service provider, confidentiality is absolute. Now for my website I receive payments from my merchant account directly to my offshore bank account. For high confidentiality, it's always better to operate under a company with business account, so that only the company name appear and not your real name.
I do not have to declare anything to my Gov and I can use the account easily (e-banking, card).