Tips To Find An Offshore Bank Account For Asset Protection Purposes
Marshall Islands comprises 29 atolls and 5 islands situated in the Pacific Ocean. It is an attractive business and financial center for international companies and especially popular among maritime companies.
Marshall Islands IBC is a tax-free corporation designed for engagement into all forms of international business, with no reporting and record-keeping requirements and with comprehensive confidentiality features.
opening of corporate bank account with internationally recognized banks such as HSBC, Standard Chartered, Citibank, Citic International, DBS bank and Loyal bank.
You can also establish a brokerage account with Saxo Capital Markets in Singapore. With Saxo, you can trade over 160 currency in the OTC FOREX market, and over 13,000 stocks from 24 major exchanges around the world including US, Canada (and TSX-V), London and Singapore.
Marshall Islands Company does not have the tainted “tax haven” reputation that is associated with many others offshore jurisdictions.
Marshall Islands is refusing to co-operative with the OECD regarding customer information exchange, thus making this corporate jurisdiction a secure, long term solution. A low cost corporate vehicle, that provides confidentiality and limited liability protection.
A Marshall Islands Company formation may be used to legitimately minimize tax by properly structuring financial and business affairs.
A person working overseas may be able to limit his tax burden by receiving, into the country in which he is working, a fixed level of remuneration and accumulate the balance in an offshore company. Similarly, designers, authors, consultants and entertainers may assign or contract with an offshore company the right to receive fees due under a contract for services.
People who travel the world and expatriates often find that their connections with foreign countries create uncertainties and undesirable consequences for their wealth on their death.
The transfer of wealth to an offshore company (again, there are no MI trusts) can avoid these difficulties, the wealth is protected in a stable environment well away from the unwanted attentions of the tax and inheritance laws of foreign jurisdictions.
Where a person is domiciled outside a territory and owns assets located in that territory (e.g., property), then such assets may be protected against inheritance tax and higher rates of taxation by holding the assets through an offshore investment company.
Offshore Companies can offer you complete privacy. If the company shares are held by a Trust, the ownership is legally vested in the trustee, thus gaining the potential for even greater tax planning advantages.
You can set up a Family and Protective Trusts (possibly as an alternative to a Will) with an offshore company for accumulation of investment income and long-term benefits for beneficiaries without high income, inheritance or capital gains taxes.
Certain countries such as Marshall Island allow the formation of international companies with no tax or reporting responsibilities. This meansyou save money not only from zero corporate tax, but also from reduced compliance and other regulatory costs.
High net worth individuals gain privacy and save on professional fees by using offshore companies as Personal Holding Companies. These entities may be suitable for inheritance planning and reducing the costs and time delays in probate.
You can protect your assets by setting up an offshore company in combination with a Trust. Choosing the right country to incorporate an offshore company can help you avoid unnecessary and high taxes that would otherwise be payable if the assets were held directly. It can also help protect assets from creditors, adverse claimants and other parties; or help you secure against future claims such as bankruptcy, judgment creditors and other litigants.
The offshore company is investing in property, stocks and shares, commodities and other assets, while providing anonymity and tax savings. Funds accumulated can be invested or deposited throughout the world, although the funds may be subject to the tax regimes of the countries in which the investments are located. There are countries with tax free bonds or bank deposits where interest is paid gross.
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Mike Smith writes a blog profiling offshore banks and offshore brokerages. Find out tips to opening offshore accounts at http://offshorebankservice.com
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