Not Recommended - Offshore Investing
Number of Customer Reviews for Offshore Investing: 1
Click Here to view Customer Reviews.
Would you like to provide a review for Offshore Investing
? If so click here
Offshore investing means investing money in businesses in other countries without interference from the government. Such investments are tax-free. Moreover, it also helps in evading the creditors, as the business assets are in faraway places.
There are numerous offshore havens in Europe, Central America and the Caribbean. People can invest money in these places without any fees other than the tiny local government charges. Some of the prominent offshore havens include - Austria, Switzerland, Hungary, Luxembourg, Liechtenstein, the Channel Islands, the Isle of Man, Nevis, the and the Cayman Islands.
There are variations in laws governing offshore investing in these countries. Some countries have easier rules than the rest. People with large fortunes, which include many drug dealers, hide their money in these places.
Promoters present offshore investing as the cure for all financial troubles. They claim that this method has the benefit of insulation of foreign courts and they provide legal protection from the preying creditors.
You can take money offshore legally, but you will have to pay taxes on the profits you make. Many people would say that offshore investing does not require paying tax. It is better to avoid such people. While investing offshore, you need to remember that you cannot get your money in 15 minutes or withdraw it using a check.
Investing offshore illegally and trying to evade taxes may land one in serious troubles. You will have to pay heavy taxes if you keep control of the entities. The income is taxable even if you have only 10% stake in the entity. Though it is not possible to track all offshore investments, authorities can easily get financial records of those having credit card accounts outside the country. It provides a watch on those having offshore investment.
Law has strict provisions for fraudulent and illegal offshore investing. Such activities attract civil and criminal contempt. Therefore, it is better to use the laws to advantage, rather than trying to save money on tax through unlawful means.
Customer Reviews for Offshore Investing:
(Click Review Title to go to review)
Would you like to provide a review for Offshore Investing? If so click here
Disclaimer: These reviews are for educational purposes only. The reviews given here are personal opinions, and other people might have different views on the products reviewed on this website. You should make any buying decisions based on your own judgment. No guarantees of income potential are given or implied; such income potential is dependent on your own skills and resources. We may receive commission or revenue from any service or product that is purchased through this site.