Category: Tax Havens
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Introduction to Offshore Investments
Tax is the driving force behind ‘offshore’, but for the great majority of well-off individuals considering offshore investment, tax is not directly an issue. They reside in high-tax areas such as the EU, the US, Canada or Japan, they pay their taxes, and if they make ‘offshore’ investments, it is in pursuit of higher returns,…
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Isle of Man to cap income tax
THE Isle of Man is planning to increase its already large number of tax exiles by imposing a cap on income tax. [box]The Irish Sea island, famous for its annual TT motorbike race, is keen to attract high net worth individuals who want to reduce their income tax liabilities.[/box] Treasury Minister Allan Bell said he…
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Corporations in Search of Paradise – Fiscal, That Is
DAVOS, Switzerland, Jan 27 (IPS) – All of the rhetoric about corporations’ social responsibility, promoted in the international arena and adopted by the World Economic Forum (WEF), suffers from a structural flaw because it pays little attention to corporate tax evasion, say activists. Despite the recent headline-grabbing cases of tax fraud — by the likes…
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Isle of Man Business Barometer Paints Optimistic Picture
Accounting firm KPMG has released the latest set of findings from its Isle of Man Business Barometer, which indicate that business in the jurisdiction continued to see improved performance during the third quarter of 2004. “The encouraging trends from the first half of the year are continuing, with over 85% of business reporting steady or…
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Hong Kong Details New Plan To Exempt Offshore Funds From Pft Tax
HONG KONG -The Hong Kong government has issued a new proposal on exempting offshore funds from paying profits tax in a bid to maintain the territory’s status as an international financial center. The new proposal, crafted by the Financial Services and the Treasury Bureau, seeks to exempt non-Hong Kong residents from paying profits tax on…
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Show Us Your Money
The USA PATRIOT Act lets the feds spy on your finances. But does it help catch terrorists? “This is really a bill which, if enacted into law, will be [a longer] step in the direction of stopping terrorism than any other we have had before this Congress in a long time,” one of the bill’s…
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The Nevis LLC, and how they relate to International Asset Protection
While domestic LLCs offer a margin of asset protection, they are still under the jurisdiction of the U.S. court system. As such, almost any United States court – in any jurisdiction – can pierce the corporate veil to examine book, seize funds and/or assets in the event of unfavourable court rulings against the corporation. In…
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Panama, a Rising Star in Offshore Asset Protection
In recent years there has been a noticeable increase in smaller countries competing for a larger slice of the growing offshore financial market. While many smaller countries were once under large countries foreign empirical control, they are now independent and free to plot a self-directed course by which they can grow and prosper. Many of…