Why would you setup a offshore company after reporting is a fact?

[blizz]

I was wondering why people still want to setup an offshore company now they get reported regardless what they are doing?

 

[blizz]

Personally I have several offshore corps in Belize and Seychelles which I have setup with darks. But to setup new corps is a pain in the a*s with darks!

 

[negon]

Privacy is most important for me

 

[Raymond]

100% Anonymity/Privacy.

 

[proples]

I can avoid the ridiculous bureaucracy in my country. Also, in another countries I can keep balances in USD/EUR and everything works much faster.

By the way. Even though it's harder to evade taxes now, as far as I understand I am not taxed in my home country if my company offshore doesn't have any commercial ties to it, and if I don't try to repatriate my money earned legally in this company. Am I missing something?

 

[JohnLocke]

Privacy is the most important factor for me.

 

[proples]

Isn't still a good idea to set up an offshore for tax reduction? Doing everything legally etc..

 

[OTR365]

If that offshore company makes money, but does not pay a dividend, I do not have taxable income that year. And when it finally pays dividend, I plan to be a resident in a country that does not tax foreign dividends.

Also, for general privacy reasons, the better the less my name pops up anywhere.

 

[blizz]

What about IP rights? anyone know if they are protected in Belize?

 

[blockchain4ever]

Isn't still a good idea to set up an offshore for tax reduction? Doing everything legally etc..

This is the obvious answer, but it depends on what you mean by offshore.

Within EU at least, you can pay anywhere from 2% to 40% in corporate taxes, and you can legally "move" your corporation (4 freedoms ensure that).

 

[7889]

1. There are still countries with strong enough banking systems which have not joined CRS and don't plan to
2. Given enough effort and resources, you can establish residence in countries such as Malta or Cyprus which have territorial taxation and don't care about your foreign income even when it's reported

 

[blizz]

1. There are still countries with strong enough banking systems which have not joined CRS and don't plan to

Where do you see this countries?

2. Given enough effort and resources, you can establish residence in countries such as Malta or Cyprus which have territorial taxation and don't care about your foreign income even when it's reported

you mean Cyprus and Malta give a s**t about tax evasion and reporting?

 

[stealth accounts]

2. Given enough effort and resources, you can establish residence in countries such as Malta or Cyprus which have territorial taxation and don't care about your foreign income even when it's reported

details are important here. Malta doesn't bother outside sourced income from non-citizens as long as it doesn't go through a Maltese bank. I wonder how far you can go with this though.

OT: I voted on privacy and because of the offshore jurisdiction which allows me to conduct business in a different way than is allowed in the country of residence.