Offshore Structures

To legally benefit from doing business offshore to need to find out your current tax position and decide which is the most advantageous way to set up an offshore structure, based on your individual circumstances. Tax structures are simply combining different elements to bring about a favorable vehicle to trade in.

As an example you may have a Panamanian IBC as your company, which your have set up with nominee directors so that your name does not appear on any documents that can be viewed by the authorities. You could have a Bank account in Belize and live in Switzerland. Your work is selling products via the internet, depending on which country you live in your country may tax your worldwide income irrespective of these facts because of your “domicile status” which is usually the place you live but not necessarily. Many governments now have Anti- avoidance measures in place. They do not want the majority reducing their tax payments; rather they clearly want to increase the money in the treasury. It is foolhardy to set up a structure unless you know it is going to work for you (and that it is legal), or that you can trust the advice given. If you are not careful you could be one of the poor souls that end up with a tax investigation, get prosecuted for evading taxes and end up with a prison sentence.

What you do want is a solution that works for you, at the very least you want to know what your legal options are, so that you can do things right from day one and not live a life of fear in getting caught. As tax law is complicated and constantly changing (despite what many will tell you), the only sensible way to find out how you can individually set up an offshore structure for your business, so as to pay little or no tax is to get Independant Tax Advice.

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