Offshore Company - Tax savings or what?

[DomainEngineer]

Hi,

Just wondering why people register companies offshore such as barbados, cayman-islans, etc

Is it for:

- tax savings
- cheap company setup
- no or low business liability issues
- no or low business insurance needed
- oe what else?

PS: How do you then brings the business income back to your country for example US or Canada etc w/o being charged taxes?

Knowledgeable persons, please help us understand.

Thanks a lot.

Rick

 

[OgieOgalthorpe]

When it comes to taxes, its best to consult a pro.

 

[katherine]

It's mostly for tax benefits and privacy too.
Liability is a point in mind.
That said each country is a tax haven in some way. It depends upon your personal circumstances.
It is not always necessary to repatriate the profits. You could just have a charge card linked to your offshore account :approve:

 

[octobus]

If you use a charge or credit card in a way as sdsinc described, I think you are then quilty of tax evasion at least.

 

[Chaiki]

I think in the case of most of the domain companies, I have heard the people running them actually live there. Isn't that everybody's dream, to live on a beach somewhere working on a laptop under a palm tree?

 

[Adam DickerAdam Dicker is verified member.]

I know this won't help some of you but full details will be posted in the exclusive section on this by Monday November 14th.

It will include opinions based on experience where the best places are for:

Where is the best place for an Offshore Bank Accounts
Where is the bets place for a Legal Offshore Incorporations.
Legal Tax Purposes
To answer one question, you can get a visa debit card where you can withdraw up to $5000 a day if needed.

Plus a lot more.

-=DCG=-

 

[Adam DickerAdam Dicker is verified member.]

Just posted in Exclusive section:

DCG Exclusive Newletter #7 Offshore?

--------------------------------------------------------------------------------

This newsletter will be out by Monday November 14, 2005 in the exclusive section and will detail the best reasons to get an offshore account and an offshore company.

It will also detail where is the best place for security reasons to open and offshore company and an offshore account and all the costs involved.

It will discuss the best format of the offshore company to protect you and your money.

All accounts we mention will give you full access to your money through online banking as well as provide you with a debit / visa card to have easy access to you money anywhere in the world that there is a bank machine.

This newsletter will in no way suggest you hide your money from someone or something. We cannot recommend that we can just provide you with the facts as we know them.

-=DCG=-

 

[actnow]

... I have heard the people running them actually live there.
Isn't that everybody's dream, to live on a beach somewhere working on a
laptop under a palm tree?

It definitely would be an interesting lifestyle.

Unfortunately, this year would be a little tougher than most to sit under the
palm tree with all of the hurricanes sweeping thru paradise.

Also, you have to remember that their expenses are higher. Since, they have
to keep replacing laptops.

Sand and laptops don't mix.

 

[aldwin]

It definitely would be an interesting lifestyle.

Unfortunately, this year would be a little tougher than most to sit under the
palm tree with all of the hurricanes sweeping thru paradise.

Also, you have to remember that their expenses are higher. Since, they have
to keep replacing laptops.

Sand and laptops don't mix.

when you earn over $40k each month you won't care about a new laptop each month.

 

[actnow]

when you earn over $40k each month you won't care about a new laptop each month.

I believe your number is on the low side.

 

[aldwin]

yes, probably.
But you should take into account also a new boat each month that the previous one get sunked by an hurricane.