Financial Resource

Tax Haven

A tax haven is a place where private individuals place their assets in a foreign jurisdiction in order to protect themselves from high income taxes and currency conversion rates.  Tax havens have a negative connotation as having associations with illegal activities.  In reality, people looking for legitimate international tax planning opportunities employ tax havens as one solution for achieving their long-term goals. 

Advantages

Offshore banking jurisdictions, known for providing tax havens, tailor their products and services to help clients safeguard their assets and limit tax burdens imposed on them. Listed below are some of the advantages of using a tax haven to safeguard personal and business assets.  A tax haven allows consumers to do the following:

Reduce exposure to and payment of income tax on earnings, interest, dividends, and investments

Reduce high capital gains taxes and reporting requirements
Reduce charges related to inheritance taxes, estate taxes, executor’s fees, and probate fees
Protect assets from judgments that result from civil litigation
Prevent the loss of assets as a result of divorce or separation
Protect private documents, corporate ownership, and knowledge of financial transactions from third parties or government agencies
Integrate assets held and managed in several jurisdictions around the world
Earn tax free income from the operating of a business and the licensing of trademarks, patents, royalties, software licenses, and other intellectual proprietary rights

These are some of the advantages to using a tax haven to protect assets.  There are many countries that provide tax havens, but only one is the most popular choice for both company formations and double taxation policy- Nevis.

Nevis

Nevis offers many benefits and maximum protection for businessmen who want to form an offshore corporation or a limited liability company (LLC).  Nevis’ Confidentiality Relationship Act of 1985 prohibits the unauthorized disclosure of information about a client’s assets or business dealings to a third-party. Disclosures are punishable by a prison sentence.  Nevis offers its customers the following benefits:

Nevis provides one of the best tax-free asset protection jurisdictions in the world.
Nevis has asset protection friendly laws allowing the creation of protected trusts, International Business Corporations, and limited liability companies.
Nevis is easily reachable from the U.S. and Europe. It also has a communications infrastructure that supports convenient online banking and debit card transactions tied directly to your bank account from anywhere in the world.
Nevis has no capital gains, estate tax, or exchange control.  The country does, however, levy an income tax on its residents and offshore companies.
Nevis has no double-taxation agreement with the U.S. or Canada.  Double-taxation agreements currently exist within Denmark, New Zealand, Norway, Sweden, Switzerland, and the United Kingdom.

If you have debt-free assets, and are exploring ways to protect and preserve them, you should consider Nevis as a potential location for forming an offshore corporation, limited liability company, or trust to hold those assets.

Harbor Financial Services (HFS)

Harbor Financial Services is a professional company that provides offshore financial advice and investment services to its clients.  HFS recommends offshore products and services to suit any personal and/or business need.  The company has helped clients find solutions to meet their long-term financial needs.  HFS has the experience and the expertise to create the best offshore package for you.  Visit www.hfsoffshore.com for more information about the company’s products and services. 

Disclaimer: Many countries have laws regarding offshore entities and accounts.  For example, citizens that form offshore entities, (for example an offshore corporation, offshore trust, offshore partnership, offshore limited liability company, etc.) own stock in offshore entities or hold positions within offshore entities may need to file a tax return. Citizens that form an offshore trust, move assets into an offshore trust or are the beneficiary of an offshore trust may need to file a tax return. Citizens that sign on offshore bank accounts or offshore investment accounts may need to disclose this fact to their government and pay taxes on any interest or capital gains.  We strongly recommend consulting with a local, licensed professional to obtain tax and legal advice in order to understand the law and to fully comply with all applicable laws and reporting requirements regarding offshore companies, offshore trusts, offshore bank accounts and offshore investments.

Tax Haven Nevis | Offshore Banking

http://www.hfsoffshore.com

Tags: asset, bank, business assets, capital, capital gains taxes, civil litigation, client, Confidentiality, connotation, corporation, currency conversion rates, divorce, do you have to file a fbar if your bank files a 1099-int, double taxation, Earn, form, government, Haven, income, information, inheritance taxes, Integrate, interest, interest dividends, international tax planning, jurisdiction, liability, limit, limited liability company, litigation, maximum protection, Most, negative connotation, Nevis, nevis tax haven, NevisNevis, Offshore, offshore corporation, offshore shell nevis company, place, Popular, private documents, probate fees, protection, relationship act, shell business integrity, shell offshore jobs, shell pension investment jobs, shell recruitment accounting or commercial or finance or hr or management or pension or investment or procurement or supply or support, Software, tax burdens, tax haven, tax havens, tax on earnings, taxation policy