With the increasing publicity of ‘Offshore Matters’ in the worlds press and television it is clear that clients are confused as to what they can and cannot legally do offshore.
A great deal of the bad publicity around today is aimed mainly at private offshore Bank accounts. Many western governments use this publicity to great effect, but this is mostly used as a smoke screen to please public opinion and a great way to cover up their own in inabilities to control their countries budget deficits. In a recent Panorama television program shown in the UK, The Northern Rock Bank was shown as the largest provider of offshore accounts in the Chanel Islands. The largest shareholder in Northern Rock Bank is now the British Government!!
It has been our Companies policy for the last five years not to recommend Private offshore Bank accounts to avoid or minimise tax liabilities as this is clearly illegal.
We do however recommend and use Offshore Companies and Banks, better described as IBC (International Business Companies) for many reasons. IBC Companies are perfectly legal and offer many advantages outside of tax mitigation to Companies trading internationally. I will list some of the more obvious advantages:
• Confidentiality
• Holding Companies
• Cross Boarder Tax Advantages
• Double Taxation Agreements
• No Vat
• Tax Free
• No Filing of Accounts
• Asset Protection
• Holding of Assets
IBC Companies are also ideal vehicles for Internet based businesses who wish to trade internationally.
Offshore Banks. It is essential when purchasing an offshore Company to ensure that the offshore service provider arranges a Bank account with your Company.
Amanda J Molyneux & Company provides a three currency Bank account with a Major World Bank with every Company we sell. Due to high level of reputation our Company holds we are able to supply a Bank account for your business free of any credit score so if you have bad credit or even bankrupt we can still help you.
For further details see our website at: http://www.molybank.com/
