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Offshore
Banks Of The World - Offshore Banking For Asset Protection
Offshore
Banks Of The World - Offshore Banking For Asset Protection
An
offshore bank is defined by its location, or 'jurisdiction'. An offshore
bank is usually located outside of the depositors country of residence,
typically within a jurisdiction that levies very low taxes, or no taxes
at all. Each jurisdiction varies in what its degree of taxation,
its degree of privacy, and its services. Offshore banks located in politically
and economically stable jurisdictions provide a safe-haven for assets that
may be at risk in the nations in which the investor lives and holds residency.
This provides a lifesaving advantage for those who have residence in nations
where there is a risk of economic collapse, war, political instability,
or a breakdown of the social order. Offshore banks provide a haven for
the assets of those who fear their assets may be frozen, seized or corrupted
by an instable currency.
Mark
recommends 11 Austrian banks, explains their best use, provides direct
contact information with the right person and explains how to set yourself
up in Austria as absolutely no one else can. Highly Recommended!
Andorra.
The Principality of Andorra (Principat d'Andorra), is a small country in
Europe, located in the Pyrenees mountains. It is bordered by Spain and
France. Citizens, and investors are not charged personal income tax.
Anguilla
- a British overseas territory in the Caribbean, one of the most northerly
of the Leeward Islands in the Lesser Antilles. It consists of the main
island of Anguilla itself, approximately 26 km (16 miles) long by 5 km
(3 miles) wide at its widest point, together with a number of much smaller
islands and cays. Anguilla's offshore sector provides IBC's and offshore
banking. Many insurance and financial business are headquartered in Anguilla.
Antigua
and Barbuda is an island nation located on the eastern boundary of the
Caribbean Sea. Investment Banking and Financial Services comprise an important
part of the economy. Major world banks with offices in Antigua include:
Barclays, Royal Bank of Canada (RBC), and Scotia Bank among others.
Aruba
- Offshore banks take the form of 'offshore' NVs and are permitted to deal
only with non-residents or with Aruban Exempt Corporations. The NV is a
limited liability company which is available to residents and to non-residents
alike. An NV operated by non-residents and trading outside Aruba is an
offshore NV, whereas an NV controlled by residents and trading inside Aruba
is an onshore NV.
Austria
has evolved into a sophisticated international banking center. For many
reasons, an Austrian bank account offers an ideal entry point into the
world of international investment. Austrian banks are safe and well
capitalized.
Offshore
finance is the second largest industry in the Bahamas, accounting for about
15 per cent of GDP. - Offshore finance is the second largest industry in
the Bahamas, accounting for about 15 per cent of GDP.
A
'Low-tax regime' not a 'Tax haven'. - The government of Barbados sent off
a high level note to members of the United States Congress recently in
protest of the label "Tax Haven" stating it has the potential to undermine
or override the Barbados / United States double taxation agreement.
The
legal system of Belize is founded on English Common Law supplemented by
local legislation. Belize is now in its second decade of providing international
financial services.
Bermuda
does not levy income tax on foreign earnings, and allows foreign companies
to incorporate there under an "exempt" status. Exempt companies may not
hold real estate in Bermuda or trade there, nor may they be involved in
banking, insurance, assurance, reinsurance, fund management or similar
business, such as investment advice, without a license.
How
do individuals interested in privacy and security choose the best haven
for wealth? To begin with, you should understand that each "offshore" haven
is unique. A country that provides the best banking regulations won’t necessarily
be the best place for incorporating a business, just as the best jurisdiction
for privacy won’t necessarily be the best for an offshore trust. Yet, there
are general guidelines for choosing an asset haven that apply across the
board.
By John Pugsley
.
. . in order to take advantage of the best exchange rates, it is imperative
to understand the reasons for the exchange rate movements. The information
that is available tends to be mostly news style factual reporting and the
more your search the more repetitive the information becomes.
Crisis
Investing & Crisis Survival - We have a new section on EscapeArtist
that we feel is very important to those wishing to protect their assets
- it's based on personal & financial survival in what threatens to
be the worst financial crisis in modern times - We feel it is so important
that we have placed it online before it is fully finished - Find out how
to protect your assets in an economic crisis.
Offshore
Funds Offer Profit, Protection & Privacy: How Do We Buy Them Safely?
- I’m going to lift the censorship on some of the best funds you’ve
never heard of—including funds that have produced outstanding returns during
both the bull and bear markets. I’ll also tell you the do’s and don’ts
of investing in offshore funds. Offshore funds present some of the
most profitable investment opportunities available internationally. However,
there are certain "tax traps" for unwary U.S. investors who purchase offshore
funds without considering the tax consequences. I’ll explain how these
caveats and how to avoid them. By Mark Nestmann
Obtaining
Residency And A Second Passport From The Dominican Republic - "While
the Dominican Republic does not offer formal economic citizenship programs,
the process and cost involved for both residency and eventual naturalization
makes it one of the best bargains around. The Dominican Republic
is also one of the best places in the Caribbean for bargain Caribbean Real
Estate, Tax-Free Banking, and the added bonus of beautiful climate should
your interests include a comfortable place to call home.
Personally,
I believe that unassailable wealth is the best protection against global
crisis. - Doug Casey
The
2000 KPMG report to the United Kingdom government indicated that the British
Virgin Islands was the domicile for approximately 41% of the world's offshore
companies, making it by some distance the largest offshore jurisdiction
in the world by volume of incorporations.
The
Cayman Islands are a major international financial centre. With the biggest
sectors being "banking, hedge fund formation and investment, structured
finance and securitization, captive insurance, and general corporate activities."
The Cayman Islands are the fifth-largest banking centre in the world.
In
the Channel Islands, no tax is paid by corporations or individuals on foreign
income and gains. Non-residents are not taxed on local income. Local taxation
is at a fixed rate of 20% in Jersey, Guernsey, & Alderney and 0% in
Sark.
Cyprus:
this jurisdiction has grown recently in popularity and anticipates further
future growth. As a jurisdiction Cyprus is in a position to exploit its
unusual position as an offshore jurisdiction which is within the EU.
Dominica
- Not to be confused with the Dominican Republic, uses British Common
Law, provides corporate structures and has started to provide offshore
banking.
Ghana
remains one of the more economically sound countries in all of Africa.
Ghana, it seems, is in cahoots with Barclays bank to set itself up as a
tax haven. Ghana is an oil rich nation.
Hong
Kong's tax rates are low (17%) enough that it can be considered a tax haven.
Hong Kong does not levy tax on capital gain as well. Plus it is the gateway
to China for those playing the China card.
-
The Isle of Man does not charge corporation tax, capital gains tax, inheritance
tax or wealth tax. Personal income tax is levied at 10% on the worldwide
income of Isle of Man residents, up to a maximum tax liability of £100,000.
Banking income tax is levied on the profits of Isle of Man based banks
at 10%.
Labuan,
a Malaysian island off Borneo. Labuan is best known as an offshore financial
centre offering international financial and business services via Labuan
IBFC since 1990.
Liechtenstein
has some of the strongest bank secrecy laws in existence. Since Liechtenstein
is one of the five richest countries in the world in per capita income
and personal wealth, it is unlikely to be swayed away from privacy by promises
or threats.
Luxembourg
is one of the fastest growing financial centers in the world and has seen
a massive influx of capital in the last decade due to its liberal banking
and tax laws. Although its secrecy laws only date back to the early 1980s,
it has maintained a long tradition of banking confidentiality. Information
will only be released to foreign governments if the depositor has been
charged with a crime that is related to the account that is also a crime
in Luxembourg.
Monaco
levies no income tax on individuals. The absence of a personal income tax
in the principality has attracted to it a considerable number of wealthy
"tax refugee" residents from European countries who derive the majority
of their income from activity outside Monaco.
There
are more than 120 banks in Panama City, making it a serious player in the
international financial stage. Panama is the banking hub for much of Latin
America.
We
have only listed the banks in Lugano, Switzerland. Switzerland has been
economically and politically stable for centuries, enjoys a low rate of
inflation and the Swiss franc is one of the strongest currencies in the
world. It remains the model from which all other financial centers are
compared. Although Switzerland has succumbed to the pressure of the U.S.
government to loosen its strict secrecy laws, for safe banking it still
rates as one of the top havens.
While
it is not generally known as such, Uruguay is a tax haven. EscapeArtist.com
has prepared a series of free special reports on Uruguay's investment potential.
If one wants to open an account in Uruguay one should go through a lawyer
from Uruguay.
