Latest Offshore Banking Articles
- Offshore Asset Protection Secrets They Don't Want You to KnowFor every moderately affluent person there comes the time to start thinking about the future: namely asset protection and preparing for the worst. Although we can all hope for the best, life shows us that those who are prepared win time and time again. Its not just the incredibly rich who have to think about these things, these days it's anyone who ac […]
- 5 Offshore Credit Card Mistakes to AvoidEveryone knows how hard it is to get a functional offshore credit card that's also half-way private. It's not your fault. […]
- Can Singapore Private Banking Replace Swiss Private Banks?Singapore private banking has grown massively over the past decade. Assets under management at Singapore private banks have grown to around 300Bn, 6 times what they were 10 years ago. It is estimated that Singapore manages around 5% of the world's private wealth, while Swiss private banking manages around a quarter. […]
- Are Private Offshore Banks More Secretive?Part of the reason why private offshore banks are called "private" is their reputation for secrecy. People expect private offshore banks in a country like Switzerland or Panama to keep confidential account records an issue between banker and client. […]
- Offshore Bank Accounts - Easy Introduction For First-TimersBond villains, corrupt dictators and even Bono can lay claim to offshore bank accounts. But what about the rest of us? Does anyone really need an offshore bank account, and how much money do you need to make it worthwhile? […]
- Montevideo Apartment Rental - Easy Introduction For First-TimersMontevideo is blessed with a plethora of apartments that will seem affordable to the US or European tourist. In other cities, you may have to settle for something out of town. In Montevideo, which is a living, working city - you can literally wake up and have sand at your feet. […]
Tax Havens
What is a Tax Haven?
These days political intrigue can make it difficult at times to distinguish a ”high-tax” country from a tax haven – but simply put, tax havens have specific laws and regulations and even treaties with other countries which encourage foreign investment for tax purposes.
It is important to note that there are different types of tax havens. While the US state of Delaware is one of the most popular jurisdictions for incorporating low-tax companies, the US is not widely recognized as a ”tax haven”.
Low Tax Havens
Countries with low overall tax rates, which do not necessarily exclude taxing worlwide income. A good example of this type of tax haven is Switzerland.
No or Zero Tax Havens
This type of tax haven imposes no inheritance, capital gains or income taxes. Although called ”no-tax”, the tax haven will still charge a flat rate for incorporating and maintaining an offshore company or trust. Additional fees may also be charged on the value of company shares.
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[...] parties. The agreement follows previous statements by French President Nicolas Sarkozy that ”tax havens” which do not follow article 26 of the OECD model tax convention should face [...]