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Tax Havens 2011 - Who are they?

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Now the new year came and much has changed since the beginning of 2010 - What are the tax havens around in 2011 or is it to early to tell?


Are there any news about the well known tax havens like - Panama, Belize, St. Kits, Nevis and Bahamas?


The above should be of the general interest for anyone who are looking for asset protection or anonymous corporations with maximum privacy.
 
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Count the Seychelles they are still for this reasons - Why Seychelles? - Blogs - Offshore Company Forum - a good choice!


Happy New Year to all and may 2011 bring much success and prosperity in all your endeavors :)
 
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Counted, thanks admin!


I have learned the below about Panama:

Due to the impending US-Panama tax agreement any US citizens should be warned that any Panama corporations, Panama foundations or Panama bank account may no longer be safe.
Tax agreements typically require the disclosure of all bank account signers, foundation and corporation beneficiaries if the nominee service is also based in Panama which is required.
AND

Panama chooses Free Trade Over Banking Secrecy
Panama and the U.S. will sign an agreement to exchange tax information this month, as the Central American nation seeks to clear the way for lawmakers in Washington to approve a free-trade pact.


The tax accord has been concluded and will be signed by Treasury Secretary Timothy F. Geithner on Nov. 30, Roberto Henriquez, Panama’s minister of trade and industry, said today. With that pact secured, the U.S. Congress should approve the stalled trade deal, he said.


“The Panama deal is ready, it’s easy and it’s good for both countries,” Henriquez said in an interview at Bloomberg’s office in Washington. By passing the accord, “the U.S. will send the signal that it is serious about integration.”


Lawmakers such as Senator Carl Levin, a Michigan Democrat, have said Panama would need to sign a tax-exchange deal before they would consider the trade agreement, which was completed in 2007 and has been ratified by Panama’s legislature. President Barack Obama hasn’t submitted the trade agreement to Congress for approval.


The Organization for Economic Cooperation and Development placed Panama on a list of nations that must share tax data or face sanctions as Group of 20 nations crack down on banking secrecy. Tax-information exchange agreements, which let officials request details about citizens’ bank accounts in another nation, are needed to ensure that taxpayers have no place to hide their income and assets, according to a report by the organization on Nov. 10.


‘Serious Deficiencies’


A review published in September by the international organization found Panama had “potentially serious deficiencies” in making banks and companies reveal tax information. Panama is seeking to change its laws to meet the group’s requirements, Finance Vice Minister Frank De Lima told reporters in Panama City last month.


Panama has already reached 13 separate taxation accords with other nations, Henriquez said today. By signing those deals and the one with the U.S., “we’re going to get the certification of the world” that Panama’s banks are trustworthy, he said.


Sandra Salstrom, a spokeswoman for the U.S. Treasury Department, had no immediate comment.


U.S. manufactures such as Peoria, Illinois-based Caterpillar Inc. say the trade agreement will boost exports and provide an inroad for American companies to supply machinery for the $5.25 billion expansion of the Panama Canal.


Panamanian President Ricardo Martinelli has pledged to spend $20 billion during the next four years to build ports, expand its main airports and lure international companies to the Central American nation.


‘Easiest Deal’


Panama, whose economy is anchored by the Panama Canal, has primarily a service-based economy and is one of the few nations that run a trade deficit with the U.S. American companies shipped $4.3 billion in goods and agriculture products to Panama last year and imported $302 million. By comparison, the U.S. exports more to China in three weeks than it does to Panama in a year.


Obama has concentrated on winning congressional approval of a trade deal with South Korea. His efforts to rework that deal to resolve complaints about beef and automobiles failed at a summit in Seoul last week.


“If they are looking for the easiest” deal, “Panama is ready,” Henriquez said.
Panama is a BIIIIIIIG NO GO for tax evasion or simply protecting assets :( will dig a little further.
 
Officially the tax havens are:


Offshore jurisdictions


It is possible to incorporate offshore companies in many jurisdictions. In some onshore jurisdictions, such as the UK and New Zealand, there are particular types of companies which offer many of the advantages of typical offshore structures. The following list is not exhaustive.


* Andorra


* Anguilla


* Aruba


* Bahamas


* Barbados


* Belize


* Bermuda


* British Virgin Islands


* Brunei


* Cayman Islands


* Cook Islands


* Costa Rica


* Cyprus


* Delaware (see also Delaware General Corporation Law)


* Dubai


* Gibraltar


* Grenada


* Guernsey


* Hong Kong


* Isle of Man


* Jersey


* Jordan


* Labuan


* Lebanon


* Liberia


* Marshall Islands


* Mauritius


* Monaco


* Netherlands Antilles


* Nevada


* New Zealand


* Panama


* Ras Al Khaimah


* Seychelles


* Singapore


* Trinidad and Tobago


* Turks and Caicos Islands


* United Kingdom


* Vanuatu
 
I don't understand why the UK is listed as an official tax haven it's beyond my fantasy :tongue:
 
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Mauritius GBC II is perfectly fine as well, do you know what the costs are for the entire setup of such a entity?
 
Actually every offshore jurisdiction / tax haven or what ever you would like to call it, this includes but not limits the low tax jurisdictions as well, can still be used for huge tax savings and asset protection nothing has changed at this point, what has changed it the way it can be done. The time for 5 dollar solution are over, now you need a professional to help you.
 
power said:
Actually every offshore jurisdiction / tax haven or what ever you would like to call it, this includes but not limits the low tax jurisdictions as well, can still be used for huge tax savings and asset protection nothing has changed at this point, what has changed it the way it can be done. The time for 5 dollar solution are over, now you need a professional to help you.
I totally agree with you, it is all a matter of structuring the offshore company or group of offshore companies right to gain your aim.
 
Most of the books I found on Amazone who are covering Tax Havens and offshore jurisdictions are from 2009 seems there are no new books around, does that mean we are at the end of tax havens?
 
I have been looking around for some suggestions for you, however, seems you'r right, it's almost not possible to find any book from 2011 regarding offshore tax, companies etc. :( If I find one I will go and post here.
 
There is no book with the specific title "Offshore Companies 2011" or Offshore Companies 2012 nor are there books that keep track on the actual best place to incorporate a offshore company for the purpose of tax envasion :) That said, then you can find plenty of books for instant from Oxford University that explains how offshore tax and Offshore IBC's as an vehicle can be a tool to accomplish the reduction of corporate tax. Further, you can find books describing the mechanisms that are important and have the most impact when it comes to privacy and asset protection...again don't look for a title say "2012" but find one of the reason releases of books covering the above mentioned topics.
 

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