Records leaked in the now-infamous Panama Papers scandal have revealed how corrupt entrepreneurs and government officials across Africa have actively used shell companies and bribes to hide profits made from natural resource extraction
Taiwan’s Mega International Commercial Bank has been slapped with a $180 million fine by the New York State financial regulator for a range of anti-money laundering failures.
According to the Tax Foundation, the average highest corporate income tax rate is 22.9 percent, or 29.8 percent when weighted by GDP. However, some countries have significantly higher corporate tax…
When looking at where to incorporate their businesses, owners often try to find jurisdictions that are business-friendly.
The release of the Panama Papers last April certainly ignited a firestorm of controversy and made for some sensational headlines. However, chances are that not everything you’ve heard about this now-infamous leak is true.
It’s true that offshore accounts and businesses can present a number of advantages, helping you minimize your tax liability, better protect your assets, and enhance financial privacy.
An offshore trust works just like any onshore trust. It involves legally transferring assets out of your name. A person known as a trustor or settler sets up the trust to benefit a beneficiary, giving charge of the trust to a trustee.
Trust can provide a number of different financial advantages, from helping your beneficiaries to avoid probate to ensuring a specific family member receives financial support after you have passed away.
Many countries, including the U.S., tax citizens’ worldwide income — even if they aren’t living or working in their country of origin. In addition, most countries in the world will tax income generated by a person working and living within the country.
The term “offshore investing” refers to investment strategies that can help an investor capitalize on the benefits of investing in a jurisdiction outside of his or her country of domicile.