Offshore. Yes or Not?

I would like to know more about your experiences with offshore services.

It includes bank accounts, webhostings, international business companies etc.


Do you tried one of these services?

I'm interested. Thanks

net-commerce.org

 

Depends where you're based - Your offshore could be my island.

I host on a different continent - no problems yet.

 

I mean more about to keep anonymity in everything

 

St. Vincent is good for incorporation with nominee directors and bearer shares. There are no taxes, no tax information exchange treaties with any country and absolute privacy is embedded in the law. It is not possible to obtain a court order for the disclosure of confidential information for example.

Only worth doing if your revenue exeeds your living expenses by several hundred thousand dollars.

Which offshore bank you choose will depend on your business requirements and account activity but beware not all banks located offshore are "offshore". An offshore bank must be specifically licensed as one under the appropriate offshore banking legislation.

Consult an expert organization like http://www.milonline.com/ before you make a move, it's easy to make an expensive mistake

- Michael

 

There are several good options for places to incorporate. Caymans, Nevis, T&C, Belize, Panama. All can get you set up with a legit company in a week or less, and your tax liability becomes zero (or close to zero if you're looking for a double-taxation treaty company - but that's another post)

The hard part is what to do when you get that company. Expect a back-and-forth lasting months to get a workable bank account and a way to spend it. Expect to put at least 120% security into the credit card you use to operate the business.

I went through this last year. Took way too long, and I'm months behind schedule as a result. But it can come together, and if you can work your way through the pain, it's well worth it.

And then there's offshore credit card processing. Doable, if you have a history, and can show 20k /mo income as a minimum. Nobody will want to be the first to take on your risk.

I'm currently living outside my native country (Canada), and have no current intentions to move back there. But if I do, the assets of my company will not return with me, to be taxed at 30-40%. That's like giving 1/2 my profits away!

BP

 

Swiss bank accounts are still one of the safest options today.