Saving on taxes is something almost everyone wants to do. However the majority of countries have tax laws that mean we must pay our taxes if we want to stay on the right side of the law. Yet there is a way to legally reduce the level of taxation you or your business are subjected to by forming an offshore company.
An offshore company is known officially as an International Business Company (IBC). Even though IBC’S are created in the world every day, many are still unaware of the advantages of forming one and worried that it may not be a legitimate way to save on taxes. But be assured there are multiple reasons why incorporating an offshore company could be of benefit to you and it is definitely a legal and very smart business move.
Incase there is still some confusion between the concepts of tax evasion and tax avoidance, let me explain. Tax evasion is the refusal to pay due taxes, by means that are considered illegal within the law. In contrast, tax avoidance refers to utilizing the provisions within the taxation laws of a country to one’s advantage so that savings on taxes can be made. It is the latter regard that forming an IBC will assist.
I’m packing my bags and getting ready to head for England! I’m not leaving my lovely island home forever, instead I am going to the UK to attend the OPPLive Conference in London, Nov 25-26th and give a presentation alongside CaribPro representative, Jason Kumpft. Our seminar entitled ‘Profitable Possibilities and Partners in the Caribbean’ will be held on 26th November from 11:00-12:00 in Theatre 3. The session will highlight the new opportunities that exist for both local agents and international partners in an exciting combination of real estate and offshore asset protection possibilities, including economic citizenship.
In the midst of the current global credit crunch, property professionals are seeking to charter their way into new territory. Industry leaders are eager to create new opportunities and make even smarter investments in the climate of financial caution. As a result, registration for this fourth annual OPPLive conference at the ExCel Centre is exceeding previous years. Delegates are already signing up for our presentation, which promises to offer insights into the emerging Caribbean development industry and strategic ways to maximize financial assets in the region, and we are certain that they will be highly satisfied. Continue reading "The OPPLive Conference 2008"
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