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Offshore bank accounts hold assets worth of over $ 21 trillion

Offshore company formation, offshore banking, legal and tax consultancy are the industries that grows on peoples and companies need to maximize profits by legally reducing the amount of taxes paid for their investments.Estimations shows that world's richest people and companies has transferred to offshore bank accounts and offshore companies in various tax heavens between $ 21 trillion and $ 32 trillion, an amount larger that the entire economy of USA. International offshore financial centers are the main beneficiary of these funds, offering in return to investors zero or low tax regime, asset protection, confidentiality and the safety of their funds.The analysis was made by James Henry, former chief economist at consultancy company McKinsey, a well known expert on tax heavens, by studying data from Bank of ... Read More »

Cyprus

Cyprus - Offshore Company - Overview The Republic of Cyprus enjoys a strategically beneficial location at the intersection of the traditional shipping routes between Europe and the continents of Asia and Africa. It's a hub of the busy trade routes linking Western Europe with Middle East and North Africa. While Greek and Turkish are the two official languages, English is wide spread, especially in the business community. The offshore regime in Cyprus for offshore companies has changed as part of the island's accession to EU, and as result of agreements with OECD. It also enjoys a wide network of Double Tax Treaties, becoming a dominant player for tax planning structures. Furthermore, Cyprus is renowned for its efficient, stable, and reliable banking system and effective professional sector, both ... Read More »

Panama

Panama - Offshore company - Overview Panama occupies an area that connects north and South America, being bordered on all forth sides by Costa Rica, Colombia, Caribbean Sea and Pacific Ocean. Panama jurisdiction has become one of the most important tax havens of the Western Hemisphere, due to its structure, geographical position, political stability and economical characteristics. The country has taken very important steps for economy modernization and promotion of foreign investments, becoming equally well known as a favorable and stable international offshore financial center, with hundreds of offshore banks, and thriving business of offshore incorporations. Most Panamanian and foreign investors choose to form Corporations. The country does not impose any restrictions on incoming and out coming monetary transfers, no exchange controls, currency limitations and reporting requirements. ... Read More »

United Kingdom

United Kingdom - Offshore company - Overview The United Kingdom of Great Britain lies on British Isles off the Western Coast of Europe and is surrounded by the Atlantic Ocean, Irish Sea, Northern Sea and English Channel. It's one of the several economic "superpowers" of the world and known as a country leader. The country is considered an offshore financial center in terms of offshore business operations. Having the mildest tax climate in the European Union is often used as the base multinational corporations operate from in other EU countries. Principal and Corporate Legislation for LLP are Limited Liability Partnership Act 2000 and The Income and Corporate Taxes Act 1988 (as amended). This country has the biggest number of concluded Double Taxation Treaties and it provides excellent opportunities ... Read More »

Dominica

Dominica - Overview - Offshore companies Offshore company formation in Dominica is the fastest process from the world thanks to the efficient system and highly motivated individuals. Dominica is a distinctive country, being the most rugged landscapes in the Caribbean, covered by largely unexploited, multi-layered rain forest. It is also known as the best offshore tax havens in the Caribbean, which offers a safe and legitimate way to optimize the taxes.Dominica is a state, situated in the West Indies and has on North French Island of Guadeloupe and on the South the Martinique Island. Dominica entered the world book of records as a first country in the world which installed completely digital communication system. Also the communication services are of the highest quality and it is possibly to ... Read More »