Tell Me about Tax Havens

Tell Me about
Tax Havens
By
http://robertgirga.com/RobertGirga/

Many individuals decide to bank,
do business, set up retirement
trusts, and retire offshore
because many offshore
jurisdictions are tax havens.

The term tax haven refers to a
jurisdiction that is tax advantaged
in some way.


Not all tax haven jurisdictions
are alike.


Depending upon the needs of a
corporation or individual, different
one offshore jurisdiction will be
more appropriate than another.


What are the advantages of a
tax haven? A so called tax
haven may levy no significant
taxes. It may have very low
tax rates.


. It may only tax income
earned in the country. Some
jurisdictions may have tax
treaties with your nation of
origin barring double taxation
of income.


Besides, similar to tax incentives
offered in countries around the
world, an offshore tax
advantaged jurisdiction may offer
want to attract investment with
special tax treatment for
investment, for retirees moving to
the country, and the like.

For companies setting up
business in an offshore
jurisdiction there can be
meaningful tax incentives
such as long term forgiveness
of taxes for investing in a wide
range of businesses and/or for
employing local people.

Here are six broad classes of tax
havens as of this writing.


The Jurisdiction Does Not
Levy Any Taxes


No tax, tax havens include the
Bahamas and Bermuda, Anguilla
and the Cayman Islands, Nevis,
Turks and Caicos, as well as St.
Vincent, and Vanuatu.


Only Income Gained in the
Jurisdiction is Taxed


Countries such as Panama,
Costa Rica, and Belize in Central
America, Gibraltar, Liberia, and
Hong Kong only tax your income
if you obtain it from investments
and business in that tax
jurisdiction.


No Double Taxation Plus Low
Taxes


Nations that provide the benefit
of no double taxation plus low tax
rates include Singapore,
Luxembourg, the Netherlands,
the Netherlands Antilles as well
as the British Virgin Islands.


Unique Tax Laws


The Isle of Man and the
Channel Islands have a
number of unique laws and
provisions that are attractive
to those wishing to reduce
their tax burden.


Individuals Get a Break


Monaco, Andorra, Sark, and
Campione d’Italia all provide
individuals with unique and often
beneficial tax treatment.


Tax Advantaged Jurisdictions
for Businesses


International business companies
often find favorable tax laws in
Jamaica, Montserrat, Grenada,
Barbados, and Antigua.


It Is Not All Just
About Taxes


When you plan to set up
business offshore remember that
the laws of the country regarding
offshore businesses may be
crucial.

You would like to obtain the
lowest possible tax rates or
not pay any taxes.

However, if local rules and
regulations make it hard to do
business this may offset any
tax advantages.

Investigate, get good advice,
think about it before making a
decision.

For help in this regard contact
www.RobertGirga.com.


You will probably want to set up a
wide offshore solution for managing
business, assets, retirement, and
privacy measures.

You will probably want to set up a
wide offshore solution for
managing business, assets,
retirement, and privacy
measures.

Make sure that your choice of tax
haven does not interfere with
your use of a Panama Private
Interest Foundation, Belize
Corporation,
or New Zealand Trust.

With these facts in mind it is
important when addressing the
issues of offshore taxes,
business, retirement, and living

to obtain the help of
competent counsel.


The World Changes,
Even tax Havens


An excellent reason for
retaining competent and
reliable counsel in choosing a
tax haven is that tax laws,


like all laws, can change.


Working with competent
counsel will help you choose a
stable situation


in a stable jurisdiction not
likely to modify their laws


Working with an expert in the
field will allow you to receive the
most up to date


and accurate advice


when setting up a wider
offshore solution to reduce or
eliminate tax liability, maintain
privacy, and do business most
profitable offshore.

NOTE:
This article is a general
description of tax advantaged
jurisdictions.


We describe how to approach
the issue of reducing taxes.


Please seek the advice of
competent counsel before
choosing a jurisdiction in
which


to do business, bank your money,
retire, or set up a private interest
foundation or corporation.


Contact us today at
www.RobertGirga.com

Tell Me about Tax Havens

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