Offshore Banking Frequently Asked Questions
Offshore FAQ
Some people have the impression that sheltering assets offshore is difficult or
cumbersome to achieve. Our expertise in Belize which is one of the best tax
havens in the world, with modern legislation specifically enacted to protect the
investor, is your assurance of a process that easy, convenient, confidential and
secure.
To help you, here are some commonly-asked questions and answers about offshore
planning.
Offshore FAQ
Some people have the impression that sheltering assets offshore is difficult or
cumbersome to achieve. Our expertise in Belize which is one of the best tax
havens in the world, with modern legislation specifically enacted to protect the
investor, is your assurance of a process that easy, convenient, confidential and
secure.
To help you, here are some commonly-asked questions and answers about offshore
planning.
What does offshore investing really mean? *
How confidential and secure are Belize offshore Trusts and IBCs? *
What are the main reasons for moving assets offshore? *
Is it legal for me to have offshore investments, companies, and bank accounts? *
Why should I deal with a Belize-based offshore specialist?
What is offshore investing?
Typically, offshore refers to a tax jurisdiction other than where you reside.
Belize is our country of choice since this Caribbean nation is stable,
democratic, has its laws based on English common law, and has specifically
developed modern laws aimed at offering the highest level of security and
confidentiality for offshore business. Top
How confidential and secure are Belize offshore trusts and IBCs?
Secure proof enough to withstand even the best efforts of the US SEC. Belize was
the first country to turn away the SEC in a landmark Supreme Court ruling. In a
landmark decision asserting Belize's sovereignty as an offshore financial
jurisdiction, the Supreme Court of Belize upheld the country's confidentiality
laws by revoking a previous court order set in motion by the Securities and
Exchange Commission of the United States requesting that confidential documents,
belonging to Swiss Trade and Commerce Trust, Ltd., be handed over to them.
In the case, Securities and Exchange Commission (SEC) vs. Swiss Trade and
Commerce Trust, Ltd., Banner Fund International, Lloyd Winburn et al, Supreme
Court Justice Troadio Gonzalez ruled that documents held by the Belize court
belonging to Swiss Trade and sought by the SEC, be immediately returned to Swiss
Trade and Commerce Trust, Ltd.
Lawyers for Swiss Trade said that what this means for Belize is that this aspect
of confidentiality, which is an important feature of the offshore industry, has
been upheld. The decision was a major shot in the arm for Belize's offshore
financial services sector. A country's ability to assert its sovereignty without
the interference of outside forces is a major deciding factor in choosing a
place to invest and protect personal property.
When asked for his comment related to the decision, Lloyd Winburn, Director of
Swiss Trade & Commerce Trust, Ltd., in Belize, stated, "The Court's decision
confirms our reasons for establishing our company in Belize originally. The law
related to confidentiality has been tested and found to be not lacking clarity
and strength.
The case arose after the SEC investigators attempted to get information on
individuals holding assets with Swiss Trade. The Supreme Court decision was
upheld by the Court of Appeals in 1996. Top
What are the main advantages of moving assets offshore?
There are many advantages to moving assets offshore, Some of these are:
Asset Protection - To secure against future claims such as judgment,
divorce proceedings, bankruptcy, creditors and litigation. *
Estate Planning - Family and Protective Trusts for accumulation of investment
income and long-term benefits for beneficiaries on a favourable tax basis
(without inheritance, income, or capital gains taxes) *
Confidentiality - From claimants, ex-spouse, competitors, and other parties from
whom you wish to keep your business interests private; and *
Reduction of Tax liability - Through International Tax Planning - a foreign
jurisdiction can offer unparalled opportunities for reducing tax liability.
Is it legal for me to have offshore investments, companies, and bank accounts?
Absolutely. Because every developed nation encourages international trade and
investment, there are no restrictions on residents doing business or having bank
accounts in other countries. Offshore investment vehicles are used every day by
sophisticated and knowledgeable high-net-worth individuals and corporations all
over the world. Top
Why should I deal with a Belize-based offshore specialist?
Dealing with advisers and tax planners based in your own home country, can be
dangerous. Individuals and firms in North America for example are subject to
jurisdiction in those countries and are vulnerable to pressure from regulatory
agencies to divulge sensitive information. Even professionals can be
"encouraged" to give up your identity and financial information by threats of
investigations or tax audits against the local firm. In the event that an
offshore consultant in your home country is involved in litigation, he or she
could conceivably enter into a deal with tax authorities to give up your
financial information in exchange for leniency.
How confidential and secure are Belize offshore Trusts and IBCs? *
What are the main reasons for moving assets offshore? *
Is it legal for me to have offshore investments, companies, and bank accounts? *
Why should I deal with a Belize-based offshore specialist?
What is offshore investing?
Typically, offshore refers to a tax jurisdiction other than where you reside.
Belize is our country of choice since this Caribbean nation is stable,
democratic, has its laws based on English common law, and has specifically
developed modern laws aimed at offering the highest level of security and
confidentiality for offshore business. Top
How confidential and secure are Belize offshore trusts and IBCs?
Secure proof enough to withstand even the best efforts of the US SEC. Belize was
the first country to turn away the SEC in a landmark Supreme Court ruling. In a
landmark decision asserting Belize's sovereignty as an offshore financial
jurisdiction, the Supreme Court of Belize upheld the country's confidentiality
laws by revoking a previous court order set in motion by the Securities and
Exchange Commission of the United States requesting that confidential documents,
belonging to Swiss Trade and Commerce Trust, Ltd., be handed over to them.
In the case, Securities and Exchange Commission (SEC) vs. Swiss Trade and
Commerce Trust, Ltd., Banner Fund International, Lloyd Winburn et al, Supreme
Court Justice Troadio Gonzalez ruled that documents held by the Belize court
belonging to Swiss Trade and sought by the SEC, be immediately returned to Swiss
Trade and Commerce Trust, Ltd.
Lawyers for Swiss Trade said that what this means for Belize is that this aspect
of confidentiality, which is an important feature of the offshore industry, has
been upheld. The decision was a major shot in the arm for Belize's offshore
financial services sector. A country's ability to assert its sovereignty without
the interference of outside forces is a major deciding factor in choosing a
place to invest and protect personal property.
When asked for his comment related to the decision, Lloyd Winburn, Director of
Swiss Trade & Commerce Trust, Ltd., in Belize, stated, "The Court's decision
confirms our reasons for establishing our company in Belize originally. The law
related to confidentiality has been tested and found to be not lacking clarity
and strength.
The case arose after the SEC investigators attempted to get information on
individuals holding assets with Swiss Trade. The Supreme Court decision was
upheld by the Court of Appeals in 1996. Top
What are the main advantages of moving assets offshore?
There are many advantages to moving assets offshore, Some of these are:
Asset Protection - To secure against future claims such as judgment,
divorce proceedings, bankruptcy, creditors and litigation. *
Estate Planning - Family and Protective Trusts for accumulation of investment
income and long-term benefits for beneficiaries on a favourable tax basis
(without inheritance, income, or capital gains taxes) *
Confidentiality - From claimants, ex-spouse, competitors, and other parties from
whom you wish to keep your business interests private; and *
Reduction of Tax liability - Through International Tax Planning - a foreign
jurisdiction can offer unparalled opportunities for reducing tax liability.
Is it legal for me to have offshore investments, companies, and bank accounts?
Absolutely. Because every developed nation encourages international trade and
investment, there are no restrictions on residents doing business or having bank
accounts in other countries. Offshore investment vehicles are used every day by
sophisticated and knowledgeable high-net-worth individuals and corporations all
over the world. Top
Why should I deal with a Belize-based offshore specialist?
Dealing with advisers and tax planners based in your own home country, can be
dangerous. Individuals and firms in North America for example are subject to
jurisdiction in those countries and are vulnerable to pressure from regulatory
agencies to divulge sensitive information. Even professionals can be
"encouraged" to give up your identity and financial information by threats of
investigations or tax audits against the local firm. In the event that an
offshore consultant in your home country is involved in litigation, he or she
could conceivably enter into a deal with tax authorities to give up your
financial information in exchange for leniency.
Leave a comment