Best offshore jurisdiction for 2020 / 2021

[erni]

We have had it in 2016 and 2018 now I want to make a thread for 2021 listing the best offshore jurisdictions in our days.

Please feel free to caste a vote and post why you think this jurisdiction of your choice is the best, what benefits does it have if we consider our all's highest whishes to stay anonymous and gain tax freedom!

 

[exprtadvisrdev]

As always: best for what?

 

[LouisB]

Kenya - it is not a member automatic exchange of information alliance, their currency KES is quite stable for the last 13 years. The country is on a growing wave with a few other African countries. The country is open to new innovations and technology. Local interest rates on saving accounts are between 10-15 p.a.

 

[erni]

As always: best for what?

Privacy, tax freedom and banking options.

 

[orangeye]

Wyoming LLC and Transferwise, great combi

 

[Clank]

Wyoming LLC and Transferwise, great combi

Better New Mexico, no annual reports needed. Meaning you can spend the money where you want without invoices needed

 

[Sols]

The annual report in Wyoming is just a statement of assets you hold in Wyoming. It takes a few seconds to complete if you don't do any business in Wyoming.

 

[Konstanz]

I would not advise to use US entities for offshore operations. If something went wrong you can end up in jail easy with USA laws

 

[ivan1911]

Better New Mexico, no annual reports needed. Meaning you can spend the money where you want without invoices needed

So New Mexico , there's no annual filings at all ? I thought you need two forms every year regardless.. ?

Thank you !

 

[exprtadvisrdev]

So New Mexico , there's no annual filings at all ? I thought you need two forms every year regardless.. ?

Thank you !

You still need to file IRS forms every year without matter where is located your LLC... What New Mexico doesn't has is state forms which is what others mentioned

 

[CyberCommander]

Guys can someone confirm if this informations are up to date?
https://www.offshorecompany.com/company/best-jurisdictions/

1. Nevis – Especially the Nevis LLC.
2. Belize – Especially the Belize LDC.
3. Cook Islands – Namely, the Cook Islands LLC.

 

[AMD]

1. Nevis – Especially the Nevis LLC.

is two years old, much has changed ever since then.

Cook Islands was a good place a few years back, but banking is almost impossible and registering the company at CI looks more shady than anywhere else.

 

[Mercer]

#1. UAE (the RAK emirate), very confidential status, one of the most reputable jurisdictions, not member of OECD/EU but worldwide acknowledged and accepted as a trustful region, the law is Sharia, no income tax, no corporate tax, no mandatory accountancy (but you have to keep the books), no audit

#2. Cayman Islands - very well known and accepted, one of the most reputable jurisdictions, yet under US intense scrutiny, so it lost the qualification for one of the most confidential regions, if you are US ppl.

#3. Marshall Islands - known and accepted with reputable jurisdiction, the law is British commonwealth, the currency is $USD, confidential status, no income tax, no corporate tax, no book-keeping, no audit. Yet, if you are US ppl, use a proxy Attorney company to set-up a company, and use that initial company (SPV) to create a secondary company to use in your commerce activities.

The other jurisdictions are either not reputable or red-flagged by the US and its allies like BVI/Belize/Nevis.

Always use a very reputable Attorney company (or similar) to create the buffer company (the initial SPV), then use the buffer company to create the secondary company SPV to use it in commerce operations. Always leave clear the buffer company from any/all commercial/economic engagements. The trades conduct them via the secondary company/SPV.

Examples of reputable entities to help you create the buffer/initial SPV (these entities have among the best/strongest Agreements that protect the confidentiality of their clients):
- DLA Piper - Business Start-up Pack - UK | Insights | DLA Piper Global Law Firm, Corporate | Services | DLA Piper Global Law Firm
- Vistra - https://www.vistra.com/governance-risk-compliance/establishment)
- TMF Group - https://www.tmf-group.com/en/services/companies/corporate-secretarial/company-formation/ (recommended solution)

 

[John Andrews]

is two years old, much has changed ever since then.

Cook Islands was a good place a few years back, but banking is almost impossible and registering the company at CI looks more shady than anywhere else.

What about Belize LLC? (International Limited Liability Companies Act, 2011)

 

[Mercer]

Note for above for #1: Not member of OECD and in no accord with EU.

 

[offshoreavatar]

Why isn’t Nevis on this?
Also just on a personal level I wouldn’t want to do business with a company based in Hong Kong right now.

 

[offshoreavatar]

is two years old, much has changed ever since then.

Cook Islands was a good place a few years back, but banking is almost impossible and registering the company at CI looks more shady than anywhere else.

Hi Amd why isn’t Nevis a good idea?

 

[Xerkki]

Starting from 2019 Nevis and Dominica companies need to pay tax from their worldwide income. I dont know if the situation is changed now.

 

[offshoreavatar]

Starting from 2019 Nevis and Dominica companies need to pay tax from their worldwide income. I dont know if the situation is changed now.

That's not true. Well not in the context of an offshore company forum.
If you live there, yes. If the company is managed from there, yes. But then we are talking about an offshore company. Usually meaning you don't live there.
I also highly doubt anyone would pursue having the company managed from there.

 

[blizz]

- TMF Group - https://www.tmf-group.com/en/services/companies/corporate-secretarial/company-formation/ (recommended solution)

do you have any personal experience with them? It looks strange to me that they have a phone number visible to journalists but for new customers you have to fill a form!