Invest Offshore

The Seychelles government has decided to remove all restrictions on foreign exchange dealings and has set up new regulations to allow the national currency (Rupee) to float, APA learns on Wednesday in the Seychellois capital Victoria.

According to a communiqué issued by the Finance Minister Danny Faure, the decision has been taken following the approval of the Foreign Earnings Regulations Repeal Bill and the Central Bank of Seychelles Amendment Bill by the National Assembly last week.

Continue reading Seychelles Liberalise Foreign Currency Dealings

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If you are an entrepreneur and thinking about doing business offshore, you are faced with a choice between an unincorporated branch operation, a foreign LLC or IBC or corporation that is treated as a foreign corporation for U.S. tax purposes or any of these entities that might be treated as either a disregarded entity or foreign partnership for U.S. tax purposes. In some cases, you might also want to have your foreign entity owned by a foreign trust.

On October 25th, three international tax experts from True Partners Consulting will join Vern Jacobs of Offshore Press at the Las Vegas Hilton Resort to explain these choices to those who attend. One of these experts is from England and will explain how the U.K. and E.U. tax laws affect the use of different kinds of entities.

Continue reading Offshore Investing Workshop

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New Date: Chicago Investor Briefing on Southeast Asia's New Expanded Special Economic Zone (off Coast of Singapore) to be Held - Oct. 31, 2008

The Province of Riau Islands in cooperation with Baker & McKenzie, the American Indonesian Chamber of Commerce (AICC) and the Consulate General of the Republic of Indonesia in Chicago invite internationally-focused investors, executives, financial and service professionals, journalists and other interested individuals to attend an Investor Forum highlighting emerging trade and investment opportunities within Southeast Asia's New Expanded Special Economic Zone (SEZ), located 12 miles off the coast of Singapore in Indonesia.

Continue reading "American Indonesian Chamber of Commerce" »

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Offshore investment is an expression heard often, but not necessarily understood by the masses. Here is a breakdown of the definition of the phrase and some generalizations concerning it.

First of all, the term "offshore" indicates something being foreign or outside of the domestic territory of one of the G8. The G8 (Group of Eight) refers to the annual summit of the government heads of the eight most prominent nations in the world.

Continue reading "Offshore Investing: The Perfect Solution" »

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In 2006, 282 Mainland companies invested in Hong Kong, injecting more than US$2 billion into the Hong Kong economy, China’s Ministry of Commerce (MOFCOM) reported recently.

According to InvestHK, the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating inward investment into the city, Mainland companies are attracted by Hong Kong’s international business environment, attractive tax rates and fund-raising capabilities.

Continue reading "Chinese Firms Continue Flocking To Low-Tax Hong Kong" »

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by Vern Jacobs

There seems to be a huge amount of non-sense and some outright deception about the impact of tax havens and the alleged abuse of tax havens. The following comments are offered as an attempt to provide some balance to the arguments of those who rail against U.S. persons with foreign income, particularly in a so-called tax haven. This article is not copyrighted and I encourage readers to forward it to anyone who might be interested in shedding the light of truth on this subject. However, please don't alter or edit the article because it could easily change the intended meaning.

Continue reading "Tax Haven Non-Sense and Deception" »

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The Luxembourg Parliament has adopted a law on Specialized Investment Funds (SIF), which offers a number of new features, including a broader definition of “eligible investors” to include both professional and private “well-informed” investors.

The new law replaces the law of 19 July, 1991 which concerned collective investment schemes reserved for institutional investors. According to the Association of the Luxembourg Fund Industry (ALFI), the 1991 law was a success: as at November 2006, 207 institutional funds existed, with combined assets under management of EUR76 billion (US$100 billion).

Continue reading "Luxembourg To Introduce New Investment Vehicle" »

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by Gissela Martinez

First it needs to be stated that no one has a crystal ball which predicts the future. These thoughts are just opinions and should be taken as such not as legal or tax advice. We will try to show the political positions of the countries that are not in favor of the tax haven offshore jurisdictions and the position of the tax haven countries. The countries most outspoken against offshore banking and offshore corporations are Australia, UK and USA.

Continue reading "The Future of Offshore Banking and Offshore Corporations" »

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The financial services regulator in the Netherlands has agreed to allow brokers there to connect directly to the Dubai International Financial Exchange (DIFX) and trade securities, in a decision that strengthens the international links of the exchange.

The decision by the Netherlands Authority for the Financial Markets (AFM), in conjunction with the Netherlands Finance Ministry, creates a new route for brokers to join the DIFX as a Member. Previously Members needed to be located either inside the Dubai International Financial Centre (DIFC), or in certain other European locations.

Continue reading "DIFX Reaches Trading Agreement with Netherlands" »

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Ireland has become the jurisdiction of choice for high value investments in hi-tech manufacturing plants, research and development projects and financial services according to the Irish government's Industrial Development Agency (IDA Ireland) as it marked an "outstanding" year for growth and new investments in 2006.

Continue reading "Global Investors Pour Money Into Ireland" »

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What You Need to Know But Won’t Read in Promotional Material presented by David Marchant, Publisher of OffshoreAlert, the world's only news service exposing offshore financial crime.

Continue reading "A Crash Course in Offshore Financial Centers" »

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What offshore and international financial centers would you like to know more about? There are dozens of them, offshore centers that were but are not; offshore centers that never were; offshore centers that don’t admit it; offshore centers for some; offshore centers that might be; the good, the bad, and the ugly.

Continue reading "IFCs—Financial Ports of Call" »

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A United Nations report has revealed that Hong Kong attracted US$35.9 billion in foreign direct investment last year, up 5.6% on 2004, making it the second-largest FDI destination in Asia after the Chinese Mainland, which amassed US$72.4 billion.

Continue reading "Invest Offshore in Hong Kong" »

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Decades after becoming Europe's number one tax haven, Monaco is to start collating and publishing figures showing it's GDP for the first time. YourMonaco.com, who produce an independent travel guide for Monaco and Monte Carlo, say that those who are considering moving to Monaco because of her zero income tax policy have nothing to worry about.

Continue reading Monaco Opens Up Finances

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Government officials hope the recently launched Bahamas Government Online Initiative will clear the way for the country’s laws to be online within days. It’s considered important to help citizens and foreigners speed up their decision making for such things like investments.

Continue reading "Bahamas Laws to Go Online"

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The European Commission has ordered Luxembourg to repeal its preferential tax regime for financial holdings by the end of the year. The commission said the scheme gives unjustified tax advantages to providers of certain financial services with holding companies in Luxembourg.

Continue reading "EU Orders Luxembourg to Repeal Tax Breaks"

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Editorial Review

Why invest abroad? Today, growing numbers of investors are convinced that the U.S. is no longer the land of safety or opportunity when it comes to investments. They recommend that you research the country to which you entrust your holdings as carefully as you do your broker, banker, bond ratings or any investment.

Continue reading "Using Offshore Havens for Privacy & Profit" »

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Tens of thousands of investors with money tied up in offshore financial centres have been successfully exploiting loopholes in the new EU savings directive. Only €100m (£69m) was raised by Switzerland in the first six months of the new law’s operation. Over the same period, Jersey raised just £9m and Guernsey just over £3m.

Continue reading "Offshore Investors Beat EU Directive to Avoid Tax"

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Jersey's fund sector grew by a stunning 50% in the last year and now services more than 1,000 funds with net asset value of GBP156 billion, reports Jersey Finance.

The key highlights across all sectors are as follows:

Continue reading "Jersey's Finance Sector Roars Ahead" »

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Europe's 14-year struggle to tax its citizens' offshore savings has flopped, after investors in countries such as Switzerland and Luxembourg exploited loopholes in a controversial savings law. In the first six months of the law's operation, Switzerland ­ the world's leading offshore financial centre ­ raised only €100m in withholding taxes on the vast savings held there by European Union citizens.

Continue reading "EU Tax on Offshore Savings Falls Flat"

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Leaders affirm the central government has been attaching great importance to and supporting the financial development of Hong Kong. They pledged that the central government will actively take measures that would be favorable for the development of Hong Kong's financial industry, the consolidation of Hong Kong's status as an international financial center and the cooperation between the financial circles of the Chinese mainland and Hong Kong.

Continue reading "Beijing for Hong Kong IFC".

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The Qatar Financial Centre Regulatory Authority announced today that the Regulatory Authority has entered into a Memorandum of Understanding (�MoU�) with the Jersey Financial Services Commission (�JFSC�). The MoU formalises arrangements for cooperation and information sharing between the two regulators.

Continue reading "Qarar Regulatory Authority Signs MOU with Jersey FSC"

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Competition Between Nations Lead to Better Policy, Better Economic Performance

(Washington, DC, Monday, June 12, 2006) � The Center for Freedom and Prosperity Foundation today released a research paper, entitled "Tax Havens, Tax Competition and Economic Performance," which finds, through a review of the recent scholarly literature, that low-tax jurisdictions promote global economic growth. Written by Dr. Yesim Yilmaz, a research fellow with CF&P Foundation, the study presents evidence that so-called tax havens provide a tax-efficient platform for cross-border investment, help boost capital formation, and also encourage pro-growth tax policies in non-tax haven countries � all of which boost economic performance.

Continue reading "Academic Research Shows Tax Havens Benefit the Global Economy" »

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US Trade Representative Rob Portman and Swiss Federal Councillor Joseph Deiss last Thursday signed the US-Switzerland Trade and Investment Cooperation Forum Agreement.

This agreement establishes a new forum for the United States and Switzerland to discuss bilateral trade and related issues and examine ways to strengthen their economic relationship.

Continue reading "US And Switzerland Work Towards Closer Trade Relationship" »

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Editorial Review

The Complete Tax Haven Guide: Financial Freedom Through Global Investing
by Adam Starchild

Tax havens are one of the most important subjects for an international entrepreneur or investor, yet few understand and use them properly. One group discount them as hiding holes for dirty money, which is not a legitimate use for tax havens. Others think they are only for banking money after you have made it. Not true either.

Continue reading "Tax Haven Guide" »

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SHANGHAI, China -- China is relaxing controls on companies seeking overseas financing in a move meant to boost development of private and high-tech companies, the country's foreign exchange regulator said.

The change in policy will enable mainland Chinese companies to set up offshore companies to raise funds and conduct mergers and acquisitions inside China.

Continue reading "China eases rules on investing" »

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''This is not a small correction to the existing regulations,'' says one international tax lawyer.

by Craig Schneider of CFO.com -

Federal regulators are proposing new rules aimed at curbing efforts by multinational businesses to shift income to low-tax jurisdictions overseas, according to reports.

The proposal focuses on how high-tech, pharmaceutical, and other companies value intangible assets such as research and development, marketing, and patents, according to the Financial Times, citing a Treasury Department official. Regulators in Washington have alleged that some companies have improperly used transfer pricing to increase their profits in countries where corporate taxes are low and reduce them in the United States.

Continue reading "Tax-Haven Changes Proposed" »

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By Jennifer Hill -

UK AUTHORITIES have stepped up their campaign targeting tax avoidance via offshore arrangements, as firms that have used aggressive tax-avoidance schemes to pay benefits and shares to employees are also now facing a crackdown.

Experts have claimed a "heavy handed" approach adopted by Her Majesty's Customs and Revenue (HMCR) on offshore accounts could alarm many people.

And a recent House of Lords ruling has been branded the "latest blow" in a long line of government attacks on employee benefit trusts (EBTs) used for tax avoidance.

Continue reading "Offshore income in focus as tax haven drive hots up" »

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By Dorothy Thomas -

WORLDWIDE THERE are over 70 tiny tax haven destinations that offer no-tax or low-tax status. Among these destinations different jurisdictions tend to be havens for different types of taxes, and for different categories of people or companies. India and Mauritius executed the Double Taxation Avoidance Agreement (DTAA) in 1982 with the sole purpose of mutually strengthening their economies.

Continue reading "Singapore, new tax haven for offshore investors" »

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Media reporting of an EU tax directive, effective from July 1, suggests the European tax havens of Monaco and Andorra could be under threat. Tribune Properties contend that the real incentive for people moving to Monaco and Andorra remains intact � no income and inheritance taxes.

(PRWEB) July 27, 2005 -- Media reporting of a new E.U. savings tax directive has left many people wondering whether European tax havens could soon become obsolete.

Continue reading "New Directives Threaten to Eliminate Tax Haven Status of Monaco, Andorra" »

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By Osama Habib -

BEIRUT: With a population of little more than 850,000 and oil and gas money pouring in, the tiny state of Qatar is oozing with confidence about the future. And like it's larger Gulf neighbors, Qatar is busily attempting to use its petrodollars to diversify into tourism and financial services. Leaving aside the question of whether the entire Gulf can support all these holiday resorts and banks, Qatar's efforts to reform itself are worthy of examination.

Continue reading "Sitting pretty on plentiful gas" »

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SEOUL, June 28 Asia Pulse - Foreign investors have poured a total of US$8.9 billion into South Korea through countries offering very favorable tax laws for foreign businesses and individuals, according to the country's tax authorities Tuesday.

In a report to the National Assembly, the National Tax Service (NTS) said about $6.6 billion of the investments came from Labuan, a small East Malaysian island declared a tax haven in 1990 as the first step toward developing it into Malaysia's own offshore financial center.

Continue reading "Foreigners Invest US$8.9 Bln in S. Korea Through Tax Havens" »

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June 2 (Bloomberg) -- Persian Gulf monarchies, flush with record oil revenue, are betting that a $7.5 billion theme park with an indoor ski slope, a $1.2 billion power grid and a $1.2 billion cargo shipper will shield them from the next energy bust.

Gulf investors have announced $8 billion of overseas acquisitions in the past 18 months, including the purchase of wax museum owner Tussauds Group. A Kuwaiti company agreed to pay $3.4 billion for African phone company Celtel International BV, resorts are springing up in the United Arab Emirates, and Qatar is investing $7 billion to host the 2006 Asian Games.

Continue reading "Gulf Arabs Bet Theme Park, Cargo Firm Will Temper Next Oil Bust" »

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OTTAWA - Canadian investment in offshore financial centres, including so-called "tax havens," shot up eight-fold between 1990 and 2003, Statistics Canada reported Monday.

Between 1990 and 2003, Canadian assets in those countries went from $11 billion to $88 billion. They accounted for more than one-fifth of all Canadian direct investment abroad in 2003, double the proportion 13 years earlier.

The largest growth in Canadian direct investment during the time was in Barbados, Ireland, Bermuda, the Cayman Islands and the Bahamas.

Continue reading "Canadians investing offshore grows sharply" »

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By Gavin Farrell -

Europe�s role in the global investment fund market has become increasingly prominent. The introduction of alternative investment strategies has created a more competitive arena. As a result, jurisdictions closer to the European market are becoming a more attractive platform for offshore investments.

The Guernsey regulator � the Guernsey Financial Services Commission (GFSC) � has always adopted a flexible approach to the authorisation of investment funds on the island. Recent regulatory changes are further easing the requirements for establishing hedge funds in Guernsey, by allowing certain funds that qualify to benefit from a quasi �self-certificated� process.

Continue reading "Offshore: A simple plan" »

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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, and without any intention to evade taxes in their home countries.

Some investors are outside the jurisdiction of high-tax areas, either because they live elsewhere, or because they are temporarily non-resident for work reasons. Such investors can often avoid having to pay taxes on their investments, whether on or offshore, but that is due to the investor's circumstances, not the location of the investment.

Continue reading "Introduction to Offshore Investments" »

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By Michael Clarke -

THE Isle of Man is planning to increase its already large number of tax exiles by imposing a cap on income tax.

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.

Continue reading "Isle of Man to cap income tax" »

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By Gustavo Capdevila -

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 of Enron, WorldCom and Parmalat -- boards of directors and the WEF itself do not consider tax non-compliance as part of the corporate social responsibility agenda in the business world, said Swiss expert Andreas Missbach.

Continue reading "Corporations in Search of Paradise - Fiscal, That Is" »

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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 improved sales in the third quarter,� noted the firm in its third Business Confidence Index report.

Continue reading "Isle of Man Business Barometer Paints Optimistic Picture" »

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HONG KONG (Dow Jones)--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 income derived from the trading of local securities by offshore funds.

Continue reading "HK Details New Plan To Exempt Offshore Funds From Pft Tax" »

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By John Berlau -

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 sponsors declared. The legislation authorized broad surveillance of financial transactions, bypassing the Fourth Amendment�s normal protections against "unreasonable searches and seizures" by requiring businesses to collect and share information with the government. After the measure passed and was signed into law, the debate was far from over. The American Civil Liberties Union and other critics continued to rail against the law as an unnecessary breach of privacy.

Continue reading "Show Us Your Money" »

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By Jonathan Curshen -

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 unfavorable court rulings against the corporation.

In this regard, offshore LLCs offer two measures of additional protection: 1. LLCs formed in countries sponsoring favorable LLC business legislation for outside companies or individuals offer tightly structured secrecy laws regarding a company�s funds or investment portfolio; 2. Companies formed in selected countries are not under the jurisdiction of the United States Court system.

Continue reading "The Nevis LLC, and how they relate to International Asset Protection" »

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By Jonathan Curshen -

In theory, if maximum asset protection is your stated goal, nearly all moveable and liquid assets should be transferred physically to fund the offshore APT as soon as it is created. That includes cash and evidence of intangible assets such as stocks, bonds and other securities. These should be placed in the custody of the offshore bank or brokerage, to be used by the trustee. A formal assignment of title to the trust for each item should be executed by the grantor. Easily portable assets such as precious metals, coins, jewelry, or gem stones also can be transferred, with written evidence of the title transfer to the trust also needed.

Continue reading "Operating an Offshore APT" »

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By Jonathan Curshen -

Legality The single most important consideration when evaluating the usefulness of an alternative citizenship is that it be legal in every respect. That fact may seem obvious, but the proliferation of fly-by-night passport fraud operations requires not only this reminder, but strict adherence to it when making second passport plans and decisions.

If you are going to expend a considerable sum of money to acquire a second citizenship and then use a second passport as your basis of personal international movement, you should demand that these documents and your status be in strict accord with the constitution and laws of the issuing nation.

Continue reading "Second Passports: Important Considerations" »

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By Jonathan Curshen -

Unfortunately, there are a limited number of qualified US and UK experts in the field of asset protection law, so proceed with great caution before choosing your personal advisor for such an important project. This is an area of financial activity where cutting corners can be very costly. Knowledgeable APT attorneys tend to be expensive but well worth the price, if qualified. We list some of the best attorneys at the end of this section.

The legal structure of a foreign asset protection trust is much like that of a domestic US or UK trust. The grantor creates the APT, transferring assets to it, to be administered according to the trust declaration by a managing trustee for individual named beneficiaries, or a class of beneficiaries, the trustee may determine in his discretion.

Continue reading "Creating an APT" »

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By Bill Cara -

All the economic powers of the world are high rate income tax jurisdictions. Without lots of your money they wouldn't have as much power.

The United States is the only major country in the world that taxes its citizens globally, wherever they reside, in or out of the USA.

Unlike citizens or resident aliens of most other nations, a U.S. person can't escape by moving offshore. U.S. persons must pay annual income tax (IRS Form 1040) on all income earned from any source anywhere in the world.

Continue reading "About personal tax avoidance" »

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By Jonathan Curshen -

A trust may be created for any purpose that is not illegal or void as against public policy. A trust can hold title to and invest in real estate, cash, stocks, bonds, negotiable instruments and personal property. Trusts can provide care for minor children or the elderly; or pay medical, educational or other expenses. A trust can provide financial support in an emergency, for retirement, during marriage or divorce or even carry out premarital agreements.

To the uninformed, the trust process may seem complex and difficult, but in fact a trust is one of the most flexible yet efficient legal mechanisms recognized by law. Compared to the alternatives, it can provide superior asset protection and can assure your bounty will be distr