Offshore Net

If you own a business in your home country or are thinking about starting a business you may want to consider the many benefits of offshore company formation.  In this day and age you can’t help but count and keep a watchful eye on every cent that you spend.  This is very true when it comes to actually starting a business.  You want to create a company that will make money without spending beyond your means.   With offshore company formation you will pay much less than you would to establish the same company in the United States.  Additionally, you will receive more of return on your investment due to the low costs of running and operating an offshore company.  In fact, due to[..]

Luxembourg being an EU company has had to make some concessions over recent years regarding bank secrecy. They of course have had to implement the know your customer rules as every bank has had to do. Luxembourg has a 30% corporate tax rate. Most of you should move on right at this point. Luxembourg has entered into double taxation treaties with 22 nations. This is a negative. We like to see a complete absence of tax treaties which is the case with Panama. Tax treaties are a warning sign for fishing expeditions, wholesale or limited. Luxembourg has bearer share companies but they are restricted in some ways as to make them less desirable. Bearer share companies must have their share[..]

The Channel Islands are a group of British Isles consisting of the islands of Guernsey, Jersey, Alderney, Sark, Herm, Jethou, Brechou, and Lihou located in the English Channel west of Normandy. Because of their location near both France and England, the official language is both English and French. Some of the more than 200,000 residents of the Islands also speak a patiois that is a blend of both. One of the things that is not a blend of English and French culture is the official currency, with the British pound, which is divided into 100 pence, winning out. It has a conversion rate against the U.S. dollar of £ 1.00(GBP) = US$ 1.59 These islands are famous for their tax haven[..]

Offshore companies, aka non-resident companies, are companies that are incorporated in foreign countries in order to avail of flexible tax structures and fertile business prospects present in the foreign country. Generally, an offshore company has three defining characteristics: The company is incorporated under offshore company regulations The company is formed by person/s located outside the jurisdiction of the country in which it is formed. The company does not carry out sizeable business within the offshoot jurisdiction of the place of incorporation. Offshore company formation has started gaining popularity after the arrival of new Internet and travel technologies which make the[..]

Setting up a foreign concern is tougher then you think. Often setting up your own business is tough even in your home country. To get your business process moving in an alien country can be even tougher. It is advisable that you take the help of the experts that can make this process simpler and free from red-tape. The experts are normally called Company formation Consultants. They are professionals that look at giving you a head start compare to your competitor to capture the target market by launching your company quicker. The first step toward this goal is having an International Business Corporation license. Without his certification the legal and the corporate process will not start[..]

One of the dreams that are harboured by everyone is to start a business by himself. However, a close thought needs to be associated with every dream, with a fair bit of planning, to actually realise it. Or else the dream would remain just that - a dream. And when the dream is of spreading the company to a foreign locale then one can be rest assured that the planning and the ground work has to be immaculate for the plan to be successful. Indeed, offshore company formation is a tough assignment for one to have. However difficult it might be, what should not be forgotten is the fact that it is one big opportunity to spread one's reputation to foreign locales. However, for offshore company[..]

There are a number of benefits to be availed through offshore company formation. All these benefits work as a driving force behind the increasing number of people showing their interest in launching a company in a foreign country. The process of forming a company has become quite simple and easy; so, no businessman wants to keep himself bereave of the benefits lying in offshore company formation. Among the various benefits to be availed by incorporating a company in a foreign country, reduced tax benefits certainly tops the list. Operating a business through a company levies some tax on the businessman. There is no way to do away with the tax unless one employs unscrupulous means.[..]

There is more than one reason why one should open an offshore company. From saving money on taxation to operational ease, owning an offshore company opens the gateway to many such benefits. Being easy and quick, offshore company formation has become quite common nowadays. With the availability of service providing agencies, one does not require facing the usual hassles of incorporating a company overseas. It cannot be denied that the chance of enjoying tax reduction or tax negation remains the strongest force behind offshore company formation. As a rule, any businessman who invests offshore by opening a bank account or by incorporating a company gets some tax reduction benefits. If the[..]

An offshore company is one that is incorporated in a foreign country with a view to reaping the benefits of flexible tax structure and fertile business prospective. Besides this, offshore company formation can provide one with some or the other benefit that an onshore company cannot provide. With the world becoming a small village and opportunities for easy and quick exchange of information, starting a company offshore has become quite easy. So, it has become a complementary process. The concerned country makes all the necessary arrangement for businessmen to launch a company easily so that they can be benefited from the presence of these companies. On the other hand, companies find it[..]

In order to open a Swiss offshore bank account, it used to take a lot of money, a lot of time, and a lot of patience. In the past, one needed to be a multi-millionaire in order to get the attention of big-time banking officials who dealt primarily in international banking and all that it entails. You also needed to have quite a sizeable wad of cash to use for an initial account-opening minimum deposit. Then there were all of the applications and forms to be filled out, and then sent on their way to undergo all of the international procedures which took months to go through. But is it all still the same in this day and age? These days, things have changed. With the aid of the internet,[..]

Once you have filled in the order form, paid the agent that will be your go-between, produced copies of your passport and residential address and if possible a name for your company in either English or Chinese (those are the two languages used in any of these processes), then all you have to do is wait for the documents and permits or licenses sent to you so that the company can officially begin. It normally takes hours and at most, a couple of days. The consulting agent or firm that are taking care of your company registration will then register your name, get your proof of registry, get your trade license sorted, register you with the tax division, register your business premises and[..]

Having an offshore banking account, corporation or trust are common themes in legal thrillers, spy novels and eastern European politics. There is a reason to be concerned about the legality of such accounts, for although many people would like to include them in their estate planning, a legal misstep regarding the use of any of these asset management tools could result in thousands of dollars lost in back tax payments and legal problems with none other than the IRS in addition to the possibility of spending time in prison. With that in mind, it is not surprising that many Americans shy away from offshore banking altogether. As any good tax attorney will be able to explain to you there is[..]

Many people open an offshore banking account because of the increase privacy offered by offshore banks. A normal bank in your own city has to inform the authorities about customers and their accounts, so a normal bank offers almost no privacy for its customers. An offshore bank is often situated in a country with little or no rules about banking privacy and it is therefore possible for offshore banks to keep most details about their customers secret. The privacy offered by offshore banks can also be called 'anonymous banking'. People have different reasons for wanting the privacy offered by an offshore bank. Some of the most common reasons are: - To hide money from family members and[..]

These protection strategies will lead to conflicts between countries, and it will be more and more difficult for them to collaborate against low tax regimes and enforce their high tax socialist strategies on other countries. We think, and many experts agree, that the current situation is just a step closer for the Asian countries overtaking the role as the economic superpowers from USA and the European Union. From our point of view Hong Kong, Singapore, Panama and the Seychelles will be the key players in the future offshore/tax planning industry. Hong Kong and Singapore are obviously significant parts of the Asian economy, and they will never give up their bank & corporate secrecy,[..]

In today's highly competitive and fast moving economy, individuals and companies need to have easy access to their monetary assets at a quick notice. Sometimes, laws and regulations in home countries are strict regarding withdrawal of huge sum of money. They then look for countries having less strict guidelines to create bank accounts, known as offshore bank accounts. Offshore banking helps to protect the finances of an individual. In the present world of huge taxation, it is necessary to have a helpful plan in order to deal with numerous financial problems. Offshore banking helps in lessening the additional taxes paid by an individual. The concept basically means having bank accounts in[..]

In the book The Fountainhead, Ayn Rand said, "Civilization is the progress toward a society of privacy. The savage's whole existence is public, ruled by the laws of his tribe. Civilization is the process of setting man free from men." The tradition of secret banking dates back to the Roman era when places of worship were covertly used as banks. In today's state of affairs, with rapidly growing instant worldwide communication, electronic commerce and interconnected databases, no area of financial activity offers more privacy and security than offshore banking. It has now become important for everyone to relocate their wealth so that a reasonable portion of it is located in an offshore[..]

If you haven't second guessed your own money strategy over the last 12 to 24 months than you are living under a rock. With all the calamities of the world banks, the bankruptcies and government takeovers its time to take a better look at your investment and money holding options. There was a culture that arose about leverage, meaning you leverage as much as you can to limit your own cash flow restrictions while benefiting from low interest rates. Well that wasn't smart advice then and its only now slapping some people in the face. The other half of the original advice that people forgot to mention was that as soon as you made enough from one low rate loan you need to pay off the others[..]

In today

Nowadays people are required to be much more flexible as regards to their work life, they are often expected to work abroad for a number of years as part of the natural progression cycle through a company. Increasingly so are also the numbers of people who are choosing to work abroad, maybe they are lucky enough to be able to work online or maybe they find work overseas either way the issue of financial management and banking becomes important, nobody wants to be stuck overseas and to not be able to get their hands on the cash. These days however there are finance services designed for specifically these groups of people providing both reassurance, peace of mind and flexibility for the[..]

As of yet, no western countries are prohibiting their citizens from opening bank accounts in other countries, although some of them, most notably the USA, definitely has the power to do so, and quite likely also the intention. So far, for most people, it is legal to move your money anywhere in the world you want and how you want. But you just have to report to your government what you do. In fact, it will be reported by your bank, whether or not you do it yourself...You are being watched! Banks in other countries might be (and very often are!) very competitive, compared to what your local bank will offer. Your local bank is mostly interested in fleecing you of as much money as it can,[..]

My bank is telling me that it is still very active in lending in the commercial market but they are not supporting me and my commercial finance broker is struggling to assist me with my business finance. Are banks really being more relaxed with their lending or is this all hype? Unfortunately banks haven't really loosened their approach to lending that much; but expect to see things change soon. With financial Armageddon avoided and bank reserves heading north, things can only get easier for the business borrower. Consider however, the other potential solutions that are available to the business borrower. Let me give you a few scenarios that we have come across in the last few weeks with[..]

A Swiss bank account is not just for wealthy clients but they are also Swiss business bank accounts. Both type of clients are of the type that want more than just a Swiss bank account to place their money into for safe keeping. Swiss bankers like their clients to have investment strategies and a long term view of the wealth. Swiss bank accounts offer the strictest privacy, total safety and they are Multi currency. With your Swiss bank account you can earn interest in any major currency, receive an international credit card and even bank entirely online.see Very wealthy clients prefer to use a Swiss private bank. Swiss private banks are renowned for their expertise and prolific banking[..]

Introduction This databook examines the deposits, mutual funds and insurance sectors held in Luxembourg from 2000 to mid-2008, segmenting these assets by onshore/offshore and retail/institutional customers. Scope *Segments assets by client base: retail vs. institutional, and onshore clients vs. offshore clients *Includes 8 years of historic data *Includes deposits and mutual funds Highlights Deposits in Luxembourg increased at a compound annual growth rate (CAGR) of 7.9% over the 2002-2007 period. Deposits from onshore customers accounted for 73.3% of the total deposits in 2007. In 2007, mutual fund investments from retail customers accounted for 94.3% of the total mutual funds.[..]

Every year around the world, greedy financial advisors and international insurance companies persuade expatriates to invest an estimated $5,000,000.00 or more in offshore savings/retirement schemes that are little better than a swindle Imagine an advertisement couched in the following terms: ========================================================== Advertisement COLOSSAL INTERNATIONAL INSURANCE LTD Expatriates - How to Save For Retirement For regular savings toward retirement our Offshore Pension Plan is the perfect vehicle. Here are the great features: 1. You contribute, say, $1,000 per month over the next 25 years. 2. If we achieve, say[..]

Global Business Company Category 1 (GBC 1) Incorporated under the Mauritius Companies Act 2001 GBC 1 companies, those holding a category 1 Global Business License, are treated as residents of Mauritius for the purpose of taxation. Therefore unlike GBC 2 companies GBC 1 entities are liable to pay taxes on their earnings. As a resident of Mauritius they are entitled to the benefits of the extensive tax treaties. A GBC1 may be locally incorporated or may be registered as a branch of a foreign company. The business of a GBC1 Company must be conducted in foreign currency and GBC1 companies cannot engage in business in Mauritius. Features of GBC 1 - The minimum paidup capital is US$1 and the[..]

Another tool and asset in your fiscal war against your own personal poverty and fiscal demise besides a normal savings account is an offshore savings account. In this uncertain economic age gathering the tools to stay in the black is of the utmost importance, and one of these tools is most certainly going to be an offshore savings account. While these types account offer many positives it also enables you to earn a very high interest rate while at the same time keeping some of your fiscal happiness undisclosed at least for now from prying eyes in your home country. Some offshore banks will happily jump through many hoops which the state side banks would never dream of and basically just[..]

shing an offshore company can seem like an insurmountable task when you think of how many things have to be done and finalized in the financial world alone. It is a tremendous job but there is a way to insure that everything is done in an expert and timely manner and that is by using the services of Carlo Scevola and Partners. They are a highly esteemed business establishment with branch offices in six continents, and they are headquartered in Geneva, Switzerland. Their group of financial experts will handle the creation and planning of your offshore company in a manner only attributable to the worlds most professional wealth management consultants. All aspects of starting and[..]

The British Virgin Islands, like other British so called 'dependent territories', was forced to apply the EU's Savings Tax Directive starting on 1st July, 2005, and chose to apply a withholding tax (initially of 15%) to the returns on savings paid to residents of EU Member States. The Directive does not apply to corporate entities. So now we have the BVI banks doing income tax reporting and withholding taxes. Does that make you feel good about this jurisdiction? British Virgin Islands Incorporation used to allow bearer share companies until 2005. The existing bearer share companies can continue as such until 2010 when they must comply with the new rules and thus will no longer be[..]

In these changing political times, for those seeking secure locations for offshore protection of assets, Panama remains a top choice. In a letter to the OECD after the London G-20 meeting at which Panama arbitrarily, (along with Switzerland and a number of other respected offshore financial centers), was placed on a “less than black” list (the Grey List), President Martin Torrijos’ Minister of Commerce and Industry, made clear that his government would only go so far in exchanging tax information. She condemned the G-20 and the OECD for “…discriminatorily affecting the good name and competitiveness of the international [financial] services offered by the Republic of Panama and[..]

Trust an entity created for the purpose of protecting and conserving assets for the benefit of a third party, the beneficiary- A contract affecting three parties, the settler, the trustee and the beneficiary. Trustee is a person totally independent of the settler who has a fiduciary responsibility to the beneficiaries to manage the assets of the trust at the best of his or her ability. The trustee reporting requirements shall be defined at the outset in a fiduciary or Treuhaender contract and should include how often, to whom, how to respond to instructions or inquiries, investment strategies, fees (flat and/or percentage of the valuation of the trust estate) anticipated future increases[..]

Actually Nevis is better than most jurisdictions but still falls short when compared to Panama. Nevis has double-taxation agreements with Denmark, New Zealand, Norway, Sweden, Switzerland, and the United Kingdom. This is always a warning sign of a possible fishing expedition. Panama has no tax treaties with any country. Nevis has Bearer share Companies BUT bearer shares have to be deposited with the Registered Agent and reported to the Registrar of Companies. This eliminates the anonymity. The shares can’t be transferred without any reportage or recording of new owners like in Panama. Panama has no registry or mechanism to track ownership of bearer share corporations. So why use[..]

Bermuda used to be a good privacy jurisdiction in years past. Today Bermuda has been chasing the tourism industry. Every day numerous cruise ships tie up in Bermuda. They have beach front hotels, gambling casinos, diving, fishing etc. The tourism industry employs more people and is more lucrative than the banking industry was so Bermuda gave in to international pressure and eliminated their secrecy and privacy to a very large extent. Bermuda's has new tight anti-money laundering legislation that is called the Proceeds of Crime Amendment Act 2000, from 1 June, 2001, applies to all banking and financial institutions. With this Act in place, fiscal offenses (think tax related) are now[..]

The Cayman Islands is another misleading jurisdiction. What the law says and what happens do not appear to line up in this jurisdiction. Under the Cayman Islands Banks and Trust Companies Law 1995 and in the Confidential Relationships (Preservation) Law of 1995 banking staff and government officials face civil and criminal sanctions if information is disclosed without authorization which on the surface sounds good BUT a number of laws permit the enforcement of foreign judgments or the disclosure of information in response to a court order, supposedly in the investigation of criminal activity and drug use or drug dealing. Additionally the Caymans are in a number of Mutual legal Assistance[..]

This is another heavily used jurisdiction suffering from eroded privacy. The first problem we run into with Singapore is taxation. Offshore derived profits are thought to be non-taxable in Singapore BUT: In accordance with Goods and Sales Tax (GST) Law, a Singapore Company is obliged to register for GST if annual sales exceed or are expected to exceed S$1 million (US$614,000) in any calendar year. This is not a good thing because it can lead to audits, disclosures, etc. In accordance with Section 145 (1) of the Singapore Companies Act 1963, a Singapore Company shall have at least one director who is ordinarily resident in Singapore. This is another bothersome ordinance. Annual accounts[..]