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.
read moreBelize is a popular jurisdiction for incorporating offshore companies and IBC’s incorporated in Belize are often used by high net worth individuals to lease and own property, estate planning, tax optimization and also in conjunction with trust and by international companies in cross border transactions.
A Belize IBC is a tax-free and exchange control-free Limited Liability Company, incorporated under the laws of Belize. However all its profit-earning activities must be conducted outside Belize. A foreign company also has the option to continue under the law of Belize as an IBC and would still have all the benefits provided by law.
A fundamental feature of the IBC in Belize is how the law was specially designed to be cost saving. Because there are no minimum capital requirements, no need for audited accounts, no annual returns, no requirement for a local director or secretary and no requirement for an annual general meeting, the costs of maintaining a Belize IBC are kept to a minimum.
Another feature that makes a Belize IBC attractive is its flexibility. Only one director and one shareholder are necessary and it may have bearer shares or registered shares, voting or non-voting shares as well as the authorized share capital may or may not have a par value. The IBC may conduct any business that is not prohibited under the laws of Belize save and except for banking, insurance, trust management and collective investments, which requires a license. The IBC may also purchase its own shares and redeem its own shares.
Although the Belize IBC must conduct all its profit earning activities outside Belize, it may lease an office in Belize, obtain the services of Belize professionals and trust companies, keep its company records and hold meetings in Belize, operate an account with a local Banking institution, hold shares in another Belize IBC and own vessels registered in Belize.
To register a company in Belize proper due diligence is carried out by the registered agents in compliance with The Money Laundering Act and Code of Conduct in Belize. A company may choose to have nominee directors or nominee shareholders; however, the only document presented for public filing at the registry is the Memorandum and Articles of Incorporation. There is no requirement for public disclosure or annual filing of accounts under the act. The Financial Intelligence Unit of Belize and the International Financial Services Commission of Belize are the only two organizations that have privy to client’s information upon request.
read moreThe Dominican Republic is not a traditional offshore and tax haven but it is a nation that has many advantages such as the possibility to apply for a second passport already after two years of residence. Another attractive feature of the Dominican Republic is the prices of real estate that are only a fraction of the cost on many of the other Caribbean Islands.
But if you are interested in an offshore investment in the form of real estate and becoming an expatriate in to the Dominican Republic you must wonder how it looks like over there. Well, a video clip can say more than a thousand words and accordingly we refer to the video clip here down below. Watch and enjoy. And then book your flight to the Dominican Republic.
read moreA nation that is not often mentioned when discussing offshore solution is the Dominican Republic in the Caribbean. The Dominican Republic is the second largest nation in the Caribbean with almost 49 000 square kilometers and about 10 million inhabitants.
It should be made clear that the Dominican Republic is not a traditional tax haven as many of the other Caribbean Jurisdictions. But even so it may have its advantages as an alternative to more traditional and ‘real’ offshore jurisdictions. You do only pay taxes on local income and what you earn abroad is not subject to any taxes in the Dominican Republic and you do not even have to declare this income to the authorities.
The great advantage with the Dominican Republic is the possibility to relatively easy and within a relatively short amount of time obtain a second passport. The main rule is that you can apply for a passport already after two years of residence. Even better is that there are no obligation to abandon your present passport and thus you can enjoy the advantage of having dual citizenship if you wish to.
You can read more about Dominican Republic at Wikipedia.
read moreThere are many features that set Belize apart from other locations for IBC creation and incorporation. Below are some of the major features: