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Having met dozens of people claiming to be offshore banking experts from many countries, I can say that there's one piece of advice that's consistent, each will tell you; "there's no one-size fit's all solution".
International Regulatory & Judicial News Alert provided by Capital Conservator Treasury Services
TROUBLE COMING FOR CAYMAN TAX PARADISE?
In recent months, these "offshore" operations of U.S. companies have been under renewed scrutiny in Congress, where some lawmakers say the U.S. Treasury is losing millions of potential tax dollars. Many U.S. firms have subsidiaries registered in the Cayman Islands. Big energy players such as El Paso Corp., Transocean Inc. and GlobalSantaFe Corp. have local subsidiaries. So do hotelier Marriott International Inc., aerospace giant Boeing Co. and food producers Sara Lee Corp. and Coca-Cola Co.
http://www.latimes.com/business/la-fi-offshore15may15,1,5929350.story?coll=la-headlines-business
It is important to keep in mind that offshore financial centers were originally established by onshore banks and corporations. Why? Because they felt hemmed-in by archaic laws, regulations and statutes. For example, Citicorp (the largest American-owned bank in the United States) was one of the first to set-up offshore operations. It wasn't too long before 64 percent of its net income was being generated by offshore sources.
The natural bonding of the Internet and Offshore stems from the fact that both, of their nature, manage to avoid tax. Businesses which can operate on the Internet without, so to speak, touching ground in a high-tax jurisdiction will naturally migrate to offshore or low-tax jurisdictions; while businesses that already have offshore existence will find it highly convenient to be able to use the Internet to trade with their high-tax customers without having to make a landing in their countries.
by Peter Waterhaze
One of the most common reasons for having an offshore banking account is to protect the person¡¦s identity and privacy. Many people start an offshore bank account because they do not want either their government or private individuals to probe into their accounts. In order to gain protection from this they have bank accounts offshore.
US PRESIDENTIAL HOPEFUL OBAMA TARGETS HEDGE FUNDS WITH TAX HAVEN BILL
Senator Barack Obama, who has launched a campaign to become the first black US president, has thrown his backing behind a bill that would require hedge funds to establish anti-money laundering programmes under the supervision of the US Treasury Department.Citing an alleged USD100bn lost to the US Treasury through offshore tax evasion and abusive tax avoidance schemes, Obama has joined senators Carl Levin and Norm Coleman in introducing legislation aimed at stopping offshore tax haven and tax shelter abuses.
http://www.hedgeweek.com/articles/detail.jsp?content_id=49947
A merchant account allows businesses to accept credit card payments from customers. Any business without a merchant account is an incomplete identity. Almost all businesses have a normal merchant account. However, there are few businesses that have an offshore merchant account have an edge above the others. The location of the bank is the only thing that distinguishes between an offshore merchant account and a normal merchant account.
by Rhiannon Williamson
Many people assume that the offshore world is accessible only to the super rich looking to increase their wealth, or to large multi national corporations looking to escape taxation.
But the truth of the matter is that the offshore world is accessible to everyone!
IFC NewsLinks is brought to you by: Capital Conservator Treasury Services SA - The Private Financial Account Solution for Select Clients www.CapitalConservator.Com
HEDGE FUNDS FLEE TAX HAVEN IN VIRGIN ISLANDS, HOUNDED BY IRS
Mosler complains that hedge funds were chased away by federal tax law changes and an Internal Revenue Service that says it suspects rampant fraud by those that signed up for the tax incentive. Mosler, 57, and two other hedge fund managers -- Kevin Brandt, president of James River Capital Corp., and Paul Saunders, the firm's chief executive officer -- bought and renovated the Tamarind Reef Hotel four years ago in anticipation of an influx of Wall Street money managers to the island, which is 1,100 miles (1,770 kilometers) southeast of Miami.
http://www.bloomberg.com/apps/news?pid=20601100&sid=avwOz7YrGJLU&refer=germany
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STEP provides education, training, representation and networking for its members, who are professionals specializing in trusts and estates, executorship, administration and related taxes. Members advise clients on the broad business of the management of personal finance.
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The general misconception is that anyone who moves money offshore is a criminal, as the headlines about money laundering with offshore havens would lead one to conclude. Since the majority of people receive their news in thirty second blips or from short 300 word news articles like the one on MSNBC´s website (www.msnbc.msn.com/id/7046153), most will probably never take the time to research the true benefits of offshore assets protection, worldwide business formation and international investing.
International Regulatory & Judicial News Alert provided by Capital Conservator Treasury Services
FACT-BYTE: Five nations have taken the political decision not to negotiate with the OECD: Monaco, Andorra, Liechtenstein, the Marshall Islands, and Liberia.
In light of the Unlawful Internet Gambling Enforcement Act (UIGEA), as one would expect, the online gambling industry has indeed shifted its focus to non-US countries. In addition, the UK has taken steps to make it more complex to use its services illegitimately. Meanwhile, although it may not be quite as harsh as the UIGEA, Turkey has begun to issue new restrictions on its own online gambling sites.
