The Swiss banking secrecy is subject to much discussion at the moment and Switzerland is under...
OECD (The Organization for Economic Co-operation and Development) with its offices in Paris has...
When considering incorporating an offshore company there are several alternatives with regard to in...
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As of June 2008, 823,502 companies had been registered in the British Virgin Islands as of of which 445,865 were ‘active’. In 2000 KPMG reported in its survey of offshore jurisdictions for the United Kingdom government that over 41% of the world’s offshore companies were formed in the British Virgin Islands.
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In a survey KPMG interviewed more than 400 tax professionals across Europe. According to the poll Cyprus was regarded as the most attractive tax regime in Europe followed by Ireland, Switzerland and Malta. The least attractive tax regime was that of neighboring Greece.
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Monaco has no personal income tax except for French nationals who has to pay income tax according to French law and directly to the French government. Under some circumstances even French nationals may be exempt from income tax. These situations are as follow:
1. they have had been habitually resident in Monaco for 5 years on October 13, 1962 and they hold dual French and Monegasque nationality;
2. they are attached to the Prince’s household; or
3. they are the French spouses of foreigners residing in Monaco and the marriage took place before the January 1st, 1986.
Most jurisdictions allow for a free amount to be earned without having to pay personal income tax. This non-taxable amount differs from jurisdiction to jurisdiction but it is clear that Cyprus is one of the jurisdictions having the most generous rules in this area. According to Cyprus tax law you are allowed to earn up to 19.500 euros per year tax-free.
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According to American Internal Revenue Service (IRS) more than 14,700 Americans have disclosed their secret foreign bank account under the amnesty program agreeing to repatriate the assets and pay back taxes and interest as well as reduced penalties. One major reason for this has without doubt been the between the IRS and the Swiss bank UBS where UBS has agreed to turn over the names of about 4,450 American clients suspected by the IRS of using the bank’s offshore services to evade taxes.
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Thailand is not a tax haven or an offshore center. However, Thailand is a very popular country in which to buy real estate and this can be done with an offshore structure although it is not possible to buy real estate directly from the offshore company. Instead an offshore structure with a local Thai company and physical owners has to be created.
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Deloitte is one of the largest providers of audit, tax,consulting and financial advisory services in Cyprus and constitutes a part of Deloitte Touche Tohmatsu (DTT) that is one of the world’s leading professional services firms with almost 170.000 people in more than 140 countries.
Deloitte’s professional services in Cyprus includes:
