At OffshorePremium we have years of experience advising private clients and international companies on taxations issues. Someone told that all truths are not to be told and the fact is that offshore services is definitively a sector where some truths are left unspoken and this is not for the good of users of said services. Indeed being unaware of some taxation issues and basic principles they may register their company in the wrong jurisdiction ending up paying taxes when it could have been avoided.
The point is that a person interested to incorporate a company offshore should never decide where to incorporate. This decision should be left to specialists like us.
Basic Truths about Tax Mitigation
Companies incorporated in tax havens are not always 100% tax frees: It is true that offshore companies registered into tax havens will not be paying taxes in their jurisdiction of incorporation. But this does not mean that they will be free of all taxation. Indeed depending of the business of the company payment made to the offshore company may be subjected to what is called withholding taxes
It is often better to register a company into a low tax jurisdiction than into a tax haven with no taxations: Is is true that for some business models it is better to register a company in a country with low corporate income tax but with a good tax treaties network than in a tax haven.
Tax Mitigation that is to say assisting a client to structure his investment for him or her to legally pay as less taxes as possible is better done by using low taxes countries than offshore exotic tax havens.
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Basic Truths about Tax Evasion
Never assume that it is safe to evade tax: Truth, even if you are using a complex structure there are no perfect solutions available anymore as far as offshore services are concerned.
Contrarily to what many of our competitor would like you to believe an offshore entity is never 100% safe or anonymous. Truth, those websites advertising to you that offshore companies or bank accounts are 100% anonymous or 100% safe are simply taking you out for a ride.
Tax Information Agreements or FACTA make it very difficult to move money around discreetly. Truth, said that you are a French resident and have an undeclared account in Saint Lucia that has a TIEA with France. You want to move your funds, you may try but where? Belize, BVI, Turk and Cairo’s etc….. all have TIEA with France. If they don’t have a TIEA then they have a DTA with France that also includes exchange of information (Switzerland, Hong Kong, Singapore, and Mauritius).
WATCH OUR TV INTERVIEW ON | TAX INFORMATION AGREEMENTS
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For more questions you can contact me at [email protected]