Offshore domain registration

MiLiTARYiV

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1st Question:

If I buy a Domain form offshore hosting company, what would happen if the offshore company goes bye bye? Would I still own the domain or will I be able to transfer it? Who actually holds the domain?
 
If it is a .com domain then there is supposed to be a procedure for handling the domains if the company goes bankrupt. But if it not a .com extension, then anything could happen really.
 
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