Offshore Myths

	Is "Offshore" legal?
	Who "goes" offshore?
	What is offshore?
	Where is offshore?
	When to go offshore?
	Why to go offshore?
	How to go offshore?

Is Offshore legal ... ?

Yes, of course it is, and it's used by many Governments around the world as well as individuals and businesses.

Abroad, usually refers to a tax haven. A "tax haven" is any jurisdiction whose laws, regulations, policies and, in some cases, treaty arrangements, make it possible for a foreign national who does business there to reduce his or her personal and/or corporate tax burdens. This tax reduction or tax deferral goal is accomplished by voluntarily bringing one's self, or a corporation, within the country's jurisdiction using legal entities that suit one's needs.

Useful legal entities might include an international business corporation, a trust, the purchase of life insurance or an annuity. Such
entities also achieve a second major goal of "going offshore" -- strong asset protection. And they can be used for investments not available in one's home nation.

Tax and asset haven nations are to be rated on several factors; i) a stable government and political situation; ii) a favourable judicial and
legal system; iii) strong financial privacy protected by law; iv) a well developed professional service sector with good communications and financial integrity.

With all the bending to unfair pressures to which haven nations have been subjected, first by the major G-7 nations, then by their front
group, the OECD, finding a place that meets all the criteria is getting more and more difficult.

There are such places. We think that first is Panama, followed by others including Switzerland, Liechtenstein and Austria (for banking), Andorra and Monaco.