Cayman Islands, Bermuda, & BVI out of the picture?

Martin Everson

Offshore Consultant
Business Angel
Yes I read this too and it will happen. This is what I warned about in another thread. It is a global crackdown. Closed registries will be a thing of the past and those countries who do not comply will be blacklisted. Governments will be able to build huge databases with all the companies you own globally, all the accounts, properties from land registries etc from around the world. Now with the EU LEI (Legal Entity Identifier) also all the securities you own also which will be expanded globally :-(

https://www.esma.europa.eu/sites/default/files/library/esma70-145-238_lei_briefing_note.pdf

This is not really about tax it is ultimately about complete control and surveillance. It is the ability of government once they have all this information to have a kill switch to freeze your assets or lock you out of the global system at a keystroke. If anyone believes this is to help fight tax evasion or terrorism think again. Some of the EU states laws are frankly scary.

UK surveillance law marks a 'worse than scary' shift

Welcome to the prison planet.
 

buenosdias

Active Member
Exactly. I mean, it's alright to imply rules and stuff to fight bad guys. But using them to control masses and surveil on them is totally unacceptable.
 

void

Trusted Member
Business Angel
Although I totally agree I also think that crying about it is just a waste of time :-|
Counter attack is the only way, find new ways how to achieve you privacy, support cryptocurrencies, support Liberland and other similar initiatives or just go to politics :)
 

challenge

MoneyMaker
Entrepreneur
Relocating to safer/freer places is the only answer. Even if they're not tax free. I honestly wouldn't mind an omni-comprehensive 15% tax if I'm happy living there.

Think about it:
would you prefer relocating, maybe losing your friends/parents affects, but living happy for the rest of your life or staying in your "oppressing country" where you have the friends but you can't have money, can't follow your dreams, being oppressed, spied and being told what to do/don't for the rest of your life?

EU situation is crazy. It's not only about personal freedom, but also economic freedom. Apart from two/three EU countries, it's becoming everyday harder to start your own business.
Some countries are so fuck*d up that they want a lot of taxes in advance, even if you have no profit.
They are taxing everything. Yet their public debt is raising and you don't see where your taxes are going. If they can't control the public spending, it's their fault not your.
Why you have to pay more and more taxes and always raising? only because they can't do the job they're paid for?
Truth is they don't want to cut public expenditure, there will always be the young entrepreneur to hammer with taxes, until he goes bankrupt or he's forced to relocate cause he can't take it anymore, then there will be another one starting etc. it's a cycle.
Then they blame "the crisis®"... they are generating it with their stupid rules.

On a first look usually we can spot that the "corporation tax" maybe is going down, but that's only the facade. Many countries are adding more red tape and raising other "hidden" taxes, like the VAT mess, property, tax on fuel etc.

These days also the old "American dream" is falling apart. For the US people listening, is not that hard to renounce to your US citizenship if you want, once you get another one. Time ago it was #1 passport to have. Today if you have a global business it's only a burden, because of the worldwide taxation. I know it's not for everyone, but I know a few people who renounced recently.

I think it's the right time, more than ever, to live globally and go where you're treated best. Find a country that needs money and helps entrepreneurship. Leave the one where you grew up, if they don't let you follow your (legal) dreams.
You have to find the courage to relocate and tell them to f*ck off. That's the only way. After that everything will be easier.
I find this is a common talk between global entrepreneurs, but the average voter Joe doesn't get this, so I don't think things will change fast enough.
 

countryfree

Building Trust
Entrepreneur
Let's not panic, this is not a done deal yet.

The UK has ordered its territories in the Carribbean to act, but those territories may not reply swiftly. The Caymans and the BVI will assuredly make London wait before complying, they may even ask for independence.

Note also that the Isle of Man, Jersey and Guernsey aren't concerned. So it will be possible to move there...
 

buenosdias

Active Member
Let's not panic, this is not a done deal yet.

The UK has ordered its territories in the Carribbean to act, but those territories may not reply swiftly. The Caymans and the BVI will assuredly make London wait before complying, they may even ask for independence.

Note also that the Isle of Man, Jersey and Guernsey aren't concerned. So it will be possible to move there...
Now this would be a possibility. I didn't see this before. But given how much money offshore corps bring into these countries, I don't think they'll let others mess with their income. It'll be like trying to ban tobacco.
Relocating to safer/freer places is the only answer. Even if they're not tax free. I honestly wouldn't mind an omni-comprehensive 15% tax if I'm happy living there.

Think about it:
would you prefer relocating, maybe losing your friends/parents affects, but living happy for the rest of your life or staying in your "oppressing country" where you have the friends but you can't have money, can't follow your dreams, being oppressed, spied and being told what to do/don't for the rest of your life?

EU situation is crazy. It's not only about personal freedom, but also economic freedom. Apart from two/three EU countries, it's becoming everyday harder to start your own business.
Some countries are so fuck*d up that they want a lot of taxes in advance, even if you have no profit.
They are taxing everything. Yet their public debt is raising and you don't see where your taxes are going. If they can't control the public spending, it's their fault not your.
Why you have to pay more and more taxes and always raising? only because they can't do the job they're paid for?
Truth is they don't want to cut public expenditure, there will always be the young entrepreneur to hammer with taxes, until he goes bankrupt or he's forced to relocate cause he can't take it anymore, then there will be another one starting etc. it's a cycle.
Then they blame "the crisis®"... they are generating it with their stupid rules.

On a first look usually we can spot that the "corporation tax" maybe is going down, but that's only the facade. Many countries are adding more red tape and raising other "hidden" taxes, like the VAT mess, property, tax on fuel etc.

These days also the old "American dream" is falling apart. For the US people listening, is not that hard to renounce to your US citizenship if you want, once you get another one. Time ago it was #1 passport to have. Today if you have a global business it's only a burden, because of the worldwide taxation. I know it's not for everyone, but I know a few people who renounced recently.

I think it's the right time, more than ever, to live globally and go where you're treated best. Find a country that needs money and helps entrepreneurship. Leave the one where you grew up, if they don't let you follow your (legal) dreams.
You have to find the courage to relocate and tell them to f*ck off. That's the only way. After that everything will be easier.
I find this is a common talk between global entrepreneurs, but the average voter Joe doesn't get this, so I don't think things will change fast enough.
Yep. Exactly. Relocation is the best option for us people.
 

proples

Building Trust
Entrepreneur
What if I am not worried about the privacy, just want to minimize my taxes. Are they still good options?
 

Admin

Forum Moderator
Staff member
It depends on where you live. You want to opn a new thread to get better answers and not go off topic here!
What if I am not worried about the privacy, just want to minimize my taxes. Are they still good options?
 
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