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| Home > Trade Offers > General & Leisure Goods > Gifts > cut your cost down with Hong Kong/BVI.. offshore companies |
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| Some main examples of how offshore companies are usually used: * Asset protection. An offshore company, like any other company, is a legal entity and it has separate assets from the assets of the individual. In case you get sued or face bankruptcy it may help to protect your valuable assets. * Export/import operations, where the offshore company will always act as an intermediary between your and supplier or you and the final customer. The offshore company in this case will accumulate a significant amount of profit margin tax-free. * As a separate business if you are an independent consultant, engineer, architect or are offered some contract overseas. Also if you are involved or planning to be involved in the internet business. * European Savings Tax Directive. From July 2005 if you are the private customer of a European bank (including Gibraltar, Jersey, Guernsey, Switzerland, Monaco, Andorra, etc.) and reside in the European Union, your bank is required to report to tax authorities in your country all profit that you made on that account or tax at source. The key word in the previous sentence is "PRIVATE". It means that if you incorporate a 0% tax offshore company and open an account in the bank in the European Union, your bank will neither report nor collect tax from the income of such a company. You do the sums. *Property investments. Almost everywhere in the world including the UK, Spain and the Caribbean, property investments can be carried out through an offshore company. When you resell a property bought through an offshore company (and accumulated the tax-free profit on that company) you may also sell the shares of such a company to the property buyer and neither you nor the buyer have to pay transfer fees and taxes. In some countries transfer fees and alien holding licenses can cost the buyer an additional 5% - 17.5% in fees. |
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