Nevis, Dominica and Marshall I.

[Xerkki]

Hello.

How it is about these jurisdictions?
Some people say they are still tax free but some sources tell the different stories.

Some sources say that Nevis and Dominica have decisions that even IBC:s are not tax free and accounting and maybe auditing is mandatory.

Marshall Islands have Economic Substance Reporting (only 1 website tells this).

From here you can read about them.

Starting from 2020 Dominica IBCs are subject to taxation - 1st Step Solution

In March 2019, Parliament of Dominica has adopted a series of new laws, which were also imposed many other independent OECD states

www.1step.eu

NEVIS UPDATE: FINANCIAL SERVICES INDUSTRY WELCOMES GOVERNMENT COMMITMENT ON TAXATION LAWS FOR IBCS AND LLCS - Southpac Group

It has been a busy time for the Nevis legislators in recent years, with more changes being made to company laws in Nevis in the last three years

southpacgroup.com

An offshore company in Marshall Islands

 

[pesto]

What a bunch of s**t sites you have found there. None of them are trustworthy, all of them are from unreliable operations which more looks like SCAMS and FOOLS rather then serious companies.

Not sure if this is to spam such s**t on offshorecorptalk or if your question is serious.

If it is the latter, so you want to check sites from PWC, Deliotte and similar but not such s**t as above.

https://www2.deloitte.com/content/dam/Deloitte/global/Documents/Tax/dttl-tax-stkitts&nevishighlights-2020.pdf

https://www2.deloitte.com/content/dam/Deloitte/global/Documents/Tax/dttl-tax-dominicahighlights-2020.pdf

is there more you want to know?

 

[Xerkki]

My point was to find out is those things real what they write on those sites. Nothing else.

 

[tacokai]

Many of these places introduce some form of tax and bookkeeping to please the OECD and other authorities. In practice, this probably just means that you have to take care of things yourself and if you do not pay your corporation tax or do your bookkeeping, then probably not much more happens with it.

 

[dirtyharry]

My problem with Nevis is the banking, I can't find any valid bank accepting a company there any longer. For many years Cyprus worked well.

 

[offshoreavatar]

Hey mate the answer lyes in common sense.
Do you think small islands that rely on offshore companies setting up there for the tax benefits to be taxed?
Another way to answer is not unless you operate / sell there / your income isn’t from there etc. As most people don’t live in Nevis that’s not really an issue.
Hope that helps

 

[offshoreavatar]

My problem with Nevis is the banking, I can't find any valid bank accepting a company there any longer. For many years Cyprus worked well.

Which EMI providers have you tried?

 

[user9823671]

Hello.

How it is about these jurisdictions?
Some people say they are still tax free but some sources tell the different stories.

Some sources say that Nevis and Dominica have decisions that even IBC:s are not tax free and accounting and maybe auditing is mandatory.

Marshall Islands have Economic Substance Reporting (only 1 website tells this).

From here you can read about them.

Starting from 2020 Dominica IBCs are subject to taxation - 1st Step Solution

In March 2019, Parliament of Dominica has adopted a series of new laws, which were also imposed many other independent OECD states

www.1step.eu

NEVIS UPDATE: FINANCIAL SERVICES INDUSTRY WELCOMES GOVERNMENT COMMITMENT ON TAXATION LAWS FOR IBCS AND LLCS - Southpac Group

It has been a busy time for the Nevis legislators in recent years, with more changes being made to company laws in Nevis in the last three years

southpacgroup.com

An offshore company in Marshall Islands

What are you trying to achieve?
For what business?

 

[Xerkki]

Thank you for your answers.

Once i tried to see these jurisdictions to act like a holding shares, assets, properties etc.

I just try to find out what is the truth about the taxes etc new regulations they have.
I know they are tax free jurisdictions for non residents and they protect the owners quite well, but i just wanted to hear your opinions and maybe exoeriences with this tax etc matter.

After its clear maybe can think this investing/holding company again.

I bet some other (at least new members) will ask about this also. Like they have asked about the bearer shares over and over again.