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Offshore Advisor: Make An Informed Choice Of Tax Haven Jurisdiction

offshore advisor

Use an offshore advisor to find the best tax haven jurisdiction for you. Why would you need an offshore company? And how would you choose a tax haven?

Generally, choices are made on the basis of confidentiality, cost, ease of communication, complexity of the incorporation e.g. trusts, protected cell companies, resident companies or simple IBCs, and speed of response.




 
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There are different types of jurisdictions:

  • Well established, full service, expensive, can handle complex incorporations, require extensive Know Your Client due diligence, and are manned by very experienced professionals. e.g. Switzerland, Guernsey.

  • Established only in the last 15 years with extensive tax treaties with selected countries, less extensive KYC due diligence, can handle complex incorporations but have less experience than their European counterparts, are less formal and less expensive. e.g. Mauritius.

A lot though depends on what you are going to use the company for! Below is a table that will help you reach your decision with the help of your offshore advisor. 

Type Full Service Complex transactions KYC complexity Ease of Communication Cost
Switzerland Yes Yes High High High
Guernsey Yes - focused on financial services Yes High High High
BVI Yes but IBC focus Yes High Medium Medium
Mauritius Yes. Focused on resident companies with tax treaties Yes Medium Medium Medium
Seychelles, Ras Al Khaimah Focused on IBC Medium Low Medium Low

But which kind of company do you need? Do you want to invest in India or China or a specific country? Or is it for trading overseas? Or for some other purpose?

Why Incorporation What Do I Need?
Type of Activity Full Service? Complex transactions? KYC complexity? Ease of Communication? Cost
Professional Services IBC only No No Low Low
Trading IBC only No No Low Low
Investment IBC or Tax treaty company depending on investment size Maybe Yes if tax treaty company High High
Holding IBC or tax treaty company depending on country of investment Yes, if large and investments into multiple countries Yes High High
Dot Com IBC only No No Low Low
Property Owning IBC only No No Low Low
Shipping IBC only - but choose a shipping jurisdiction e.g. Panama, Seychelles No Medium Medium Medium
Employment IBC only No No Low Low
Intellectual Property & Royalty IBC only No No Low Low
Asset Protection IBC or Trusts No if IBC. High if Trust High High High
Will & Inheritance Trusts Yes High High High
Multiple Investors in Projects Protected Cell Companies Yes High Medium High

Making a choice with the help of your offshore advisor is dependent on various factors including anonymity. Mauritius and Seychelles have followed in Switzerland's footsteps and made it a criminal offense to disclose client information to anyone.

However, since 9/11, both the US and EU have put severe pressure on most of the popular jurisdictions to disclose information. British Virgin Islands [BVI] has signed a comprehensive treaty and Mauritius a watered down version. In any case Ras Al Khaimah, Seychelles and Mauritius are far enough away and not very important to either the EU or the US at this time.

As an offshore advisor I recommend Seychelles or Ras Al Khaimah for most of the simple cases and Mauritius for the more complicated requirements. However if you are more comfortable with the 'Old World' tax havens, then as an offshore advisor I recommend Switzerland for the complicated cases and BVI for the simple ones.

Are you looking for more information on  living abroad in an offshore haven, or  retiring early because of savings offshore? Or are you an  expat looking for ways to build your wealth?

 

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