| This is an introduction to offshore banking | | | | offered in various countries. These can range |
| and incorporation a world that you may or may | | | | from low tax to 0 taxes, tax treaties, |
| not be familiar with. There are many | | | | special corporate structures, free zones |
| countries that are considered to be tax | | | | etc…. Studying the aforementioned will |
| havens of one sort or the other. Each | | | | allow you to put together a complete offshore |
| jurisdiction has its own reasons in extending | | | | solution. |
| a warm welcome to non residents. The aim of | | | | |
| this article is to introduce to offshore | | | | There is no one size fits all packaged |
| banking and give you an idea of the benefits | | | | solution. Every business is unique. Everyone |
| of going offshore. | | | | who wants to establish an offshore banking |
| | | | presence must take into consideration the |
| Offshore banking makes many people think of | | | | countries that he will be doing business with |
| money laundering and many other illegal | | | | to obtain the maximum benefit of going |
| activities. However, most illegal activity | | | | offshore. |
| happens onshore. Newspaper headlines are the | | | | |
| main reason for these misconceptions. Legal | | | | What are the most common benefits to going |
| activities are not headlines, so few | | | | offshore? |
| reporters write about the above-board side of | | | | |
| offshore finance. | | | | - Tough bank secrecy and privacy laws |
| | | | |
| Proof that using offshore banking and | | | | - Fewer restrictions on financial |
| companies are not illegal is the large number | | | | transactions |
| of known international trading and finance | | | | |
| companies that have an offshore presence. | | | | - Low taxation or 0 taxation |
| Some countries tax you on a global revenue | | | | |
| basis. If you are a resident or a citizen of | | | | - Asset protection |
| such a country it would be crime for you not | | | | |
| to declare your offshore holdings. | | | | Even the United States and Canada can be tax |
| Declaration does not mean taxation. Consult | | | | havens. Though this is only promoted usually |
| with your tax lawyer to find out the latest | | | | for non-citizens and non residents. |
| legislation on this. | | | | |
| | | | As you can see from the above, you have |
| Is there really a secret to successful | | | | multiple reasons for wanting to explore all |
| offshore banking? Yes, there is and it is | | | | the possibilities that an offshore |
| very simple. "Knowledge" is the secret key. | | | | incorporation linked to an offshore bank |
| | | | account will give you. No matter which |
| To set up your offshore infrastructure, it is | | | | aspects of the offshore world you choose to |
| necessary to start by exploring the low tax | | | | use you will find the find that there are |
| and asset protection opportunities that are | | | | many benefits. |