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tax avoidance

21February

Offshore Tax Havens and International Financial Centres

The Rise of International Finance Centres

dual citizenship second passportThe stereotype associated with the words ‘offshore tax haven’ is depicted with many negative connotations, many of which are often exaggerated depictions and plagued with erroneous associations. Accompanying imagery brings up tropical Caribbean destinations in which greased whiten linen suit wearing mafioso types hand over briefcases full of unmarked currency to a local attorney who launders the money through an intricate series of offshore transfers.

The exaggerations, largely conjured up through Hollywood blockbusters, fills the head with such conceptualizations by exploiting the publics craving for tabloid-like headlines. As if often the case, the reality is a far cry from the romanticized picture captured by the camera.

Posted in offshore company formations, tax avoidance, international finance company, tax haven articles

31January

A Brief on the History of the Offshore System

A Short Introduction

bank The Offshore financial sector can be seen to have first begun in 1815, Vienna, when Switzerland stated that it was to become a neutral state. The industry developed slowly over the next hundred years and was primarily used by the European elite, remaining a relatively small scale industry.

It wasn’t until after World War II as the British middle class sought a way to protect their assets from a successive series of oppressive British governments who imposed a punishing top income tax rate of 90% that the development of a more expansive unregulated financial industry was established.

British legislation was passed during the 1960’s that gave permission for the use of trusts; together with the creation of the Euromarket this effectively gave banks permission to carry out unregulated deals with foreign entities if they used foreign currency, which both helped to create a more liberalized financial system.

Posted in tax avoidance, tax haven articles

11April

The Unequal Balance of Power in the Offshore Market

The Real Reason Western Countries are against the Offshore Market

global offshore market repoThe rise of global communication technology has virtually eliminated boundaries creating a hyper-globalized economy allowing financial flows access to markets in all corners of the world. This has enabled the spread of global transactions stimulating innovation and growth along many areas of the global economy. However, the current trend of globalization is now fast becoming authoritarian, moving away from a hands-off liberalized version, as it has become entirely self-serving, governed and manipulated by the economic elites, Multi National Corporations (MNC), and powerful state governments and institutions that have to a large degree forced their agendas and policies on the rest of the world.

Posted in offshore foundations, tax avoidance, offshore asset protection strategies articles

03January

Why Going Offshore Matters More in the Wake of the Paradise Papers

Why Offshore Companies are for Everyone

paradiseIn the wake of the Paradise Paper leaks, there has been a public outcry in response to the revelation of documents connecting high profile figures and companies with offshore accounts in low-tax jurisdictions.

Though the Paradise Papers revealed no illegality, governments and the media have criticized those named in the documents accused of safeguarding wealth overseas to avoid paying higher tax rates.

Those named included the Queen of England, members of the US and Canadian Governments and Apple amongst others. Exploiting the public’s desire for sensationalism the media has continued to portray offshore banking and finance as a shadow world of illicit underground dealings failing to recognize that it provides a necessary service that enables and supports the globalized economic structure providing many services for industries across the spectrum.

Posted in offshore company formations, tax avoidance, tax haven articles

03February

Tax Avoidance vs. Tax Evasion

Using Legal Means to Reduce Taxes

tax-avoidance If you own a business, you generally have the right to organize it in a way that ensures you pay no more taxes than necessary. This strategy, known as tax avoidance, involves using legal means to reduce taxes.

It is not the same thing as tax evasion, which is the practice of violating your country's laws and paying less than the minimum amount of taxes. Rather, tax avoidance is the practice of setting up your business in a way that ensures it will be taxed fairly by your country's government.

Posted in offshore foundations, tax avoidance, offshore asset protection strategies articles