© AP Photo/Paul AmesLuxembourg
The grand duchy of Luxembourg doesn't tax nonresidents on capital gains, bank interest or dividends. Further more taxes are not withheld on behalf of other governments, leaving it up to individuals to report any investment income from their accounts there to their own country's tax authority.
© Yuval Sive/Istockphoto
Cayman Islands
Hedge funds have found warm tropical breezes. Home to more than 600 offshore banks, the Caymans have 8,000 Hedge funds registered . Strict reporting and privacy laws make the Caymans Islands a very popular destination.
© Rachael Bowes/Alamy
Cook Islands
The Cook Islands seems to be the preferred offshore financial center for the Asia-Pacific region. Investors pay no income tax, capital gains tax or death tax there. People with money to invest can apply for residence permits through the Cook Islands Development Investment Board.
© AP Photo/Lynne Sladky
British Virgin Islands
The British Virgin Islands are a top destination for forming corporate or international business companies. The low fees for filing the papers and the annual reports make the islands very attractive.
© Jon Arnold Images Ltd/Alamy
The Channel Islands
Between the shores of France and England, in the English Channel,The Crown dependencies offer foreign citizens living in the U.K. a chance to avoid certain taxes. However, new legislation coming into effect in April will end these advantages.
© Haider Yousuf/IstockphotoDubai
Dubai is tax free for corporations operating within its borders. Dubai contains a number of economic free zones which have various economic incentives to encourage investments and commercial development.
© Atlee Mercer/Istockphoto
Bermuda
No income tax, profit or capital gains taxes and no withholding tax. Whole companies, like Tyco International, have moved there.
© Istockphoto
Lichtenstein
Foreigners can open trusts anonymously by registering them through a local attorney or trustee.
© AP Photo/Anchorage Daily News, Marc Lester
United States
Seven states in the U.S (Alaska, Delaware, Nevada, Oklahoma, South Dakota, Rhode Island and Utah) offer a version of an "asset protection" trust, but they aren't always bullet proof. Assets can't be transferred to avoid creditors, and creditors having claims on the assets before they're put in the trust have two years or more to get a judgment against them.
Wealthy individuals on the search for places where they can set up trusts that shield their assets from major litigations--and, possibly taxes have now quite a few choices...
Read the full story Liz Moyer and Tatyana Shumsky
List of Tax Havens of the World
No comments:
Post a Comment