There are numerous Offshore Tax Havens and Offshore Financial Centres around the world. Some are politically and economically stable and some are not. In order to guarantee effective asset protection, it is essential to select a stable and secure offshore jurisdiction in which to house one's finances. The following quick guide to offshore tax havens, covers the most popular and most secure offshore financial centres.
Switzerland is considered by many to be the premier offshore financial centre. Being a landlocked country, the term 'offshore' strikes as a little bizarre but for large deposits and substantial assets, it is one of the most secure and stable offshore jurisdictions in the world.
The Isle of Man, Jersey, Guernsey, Gibraltar, Lichtenstein and Luxembourg are tax havens which are also located within Europe and provide ease of access to European residents / companies looking to avoid tax.
The British Virgin Islands introduced a great entity – the BVI IBC – which is quick easy to set up and has exemption from tax for 20 years!
Nesting in the Caribbean, the Bahamas is a group of 700 islands which is located between Florida and Cuba. The Bahamas provides very strong asset protection through detailed legislation written to protect offshore investors.
Barbados is also a tax haven which has enticing tax legislation offering various tax haven benefits such as low rates of tax and great financial privacy.
Believe it or not, the USA has its own tax havens! Where each state can set its own tax level, places like Delaware and Alaska are able to use this to their advantage and attract offshore companies and offshore investors. Delaware is perfect for certain financial situations and an offshore consultant would be able to tell you if Delaware is the offshore financial centre for you.
These include Belize and Panama. Small OFC's in comparison to some of the longer established offshore jurisdictions, these tax havens have quite a lot to offer in terms of asset protection and reduced taxation.
Remember: all tax havens were not created equal and an experienced advisor is essential in order to ensure that you are selecting the right offshore jurisdiction for your financial needs and protection. The Offshore Company UK can provide advisers to help with corporate tax havens as well as provide information relating to individual asset protection.