New OECD attack on corporations means this regulatory non disclosure reporting compliance is more important than ever!
With new moves from the OECD to curb corporate tax loopholes imminent, now is a good time to look at diversifying your business and personal financial solutions.
OECD unveils plan to close tax loopholes
We can help you with both.
Frequently, asset protection may not be motivated by tax at all, although both are related: protecting your assets against depletion by taxation or inflation is every bit as important as protecting against attacks in civil or tax court.
[box]The bottom line is: The Offshore ”Safe Tax Haven” does not Function these Days:[/box]
A lot of offshore investments used to come from countries where political turmoil and civil strife threatened the wealth of productive people. For example, Miami became a major regional financial centre because it offered the security, safety and stability of the United States of America to businessmen and wealthy families from Latin America at a time when the region was characterized by devaluations, government thefts and ruthless dictatorships who imprisoned people for victimless crimes.
Since 2007, according to bankimplode.com, nearly 600 onshore banking institutions have collapsed… most of them in the USA.
Offshore Banking Secrecy & Privacy is Gone
Today the offshore financial institution tables have been turned over because of governments foreign financial account exchange of information regulatory enforcement. This Financial Account is the Only Foreign Tax Deferred Income & Accumulations Entity where Privacy & Secrecy is Brought to You by International Pension Law
Under the new foreign financial account regulatory regime there is only one type of existing foreign financial account entity that can be used to defer income as tax deferred on gains and accumulations that is legally recognized as being exempt from financial institution regulatory reporting.
This secret, private and exempt from financial institution reporting credential is also documented in Intergovernmental Agreement (IGA) which define it exactly and other investment entities are not even mentioned anywhere.
When you want to touch money now, you pay tax now. When you are willing to touch money later, you are subject to pay tax later.
The funding is set aside not on the ”employer” books but on the books of a Hong Kong retirement plan administrator. In other words it is not that the ”employer” is withholding it for future pay, the employer is actually setting it aside and paying it over to the deferred compensation administrator. Meaning that it is not yours (employee) until it is yours. When it is yours you are subject to tax on it but not before.
Investments are purchased as a deemed tax and reporting compliant institutional, professional investor and foreign country resident.
What that means is privacy and secrecy brought to you by regulated, registered and recognized international pension law. This secret, private and exempt from financial institution reporting credential is also documented in the Foreign Account Tax Compliance Act (FATCA), the Common Reporting Standard (CRS) of the O.E.C.D. countries, Intergovernmental Agreement (IGA) and Tax Information Exchange Agreements (TIEA) which define it exactly and other investment entities are not even mentioned anywhere.
When you want to touch money now, you pay tax now. When you are willing to touch money later you are subject to tax later:
Comparing Tax Effected Yield on Growth Rate* 10%, Tax Rate* 40%:
[threecol_one]* Example
Year O
Year 15
Year 20
Year 25
Year 30
[/threecol_one] [threecol_one]** After Tax
Accumulation Rate 6.00%**
$600,000.00**
$1,437,935.00**
$1,924,281.00**
$2,575,122.00**
$3,446,095.00**
[/threecol_one] [threecol_one_last]*** Before Tax
Accumulation Rate 8.70%
$1,000,000.00***
$3,494,968.00***
$5,303,846.00***
$8,048,938.00***
$12,214,799.00***
[/threecol_one_last]There is a tailor made Hong Kong regulated, registered and international pension law structure that bolts together two quite distinct regulatory areas:
- the individual is exempt from worldwide asset reporting and
- the foreign financial institution level is exempt from reporting.
The Deemed Compliant Credential:
What that means is you are free from capital restraints, restrictions or blockage globally. This secret, private and exempt from regulatory reporting credential is the only foreign deemed compliant financial account that can be structured to be recognized in domestic tax law as a deferral of income and accumulations.
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