Offshore Banking, Offshore Investment & Savings
How to Avoid Offshore Asset Protection Scams
Published on 21 February 2008Category: Asset Protection
Asset protection as a concept is very simple – you place valuable assets such as property, cash or even your business outside the reach of potential creditors or litigants. To enable you to do so you can physically place assets offshore or you can create some form of legal structure such as a trust to hold the assets for example; but actually taking the most appropriate action for the protection of your own personal assets is a very complex undertaking that requires specialist legal, financial and taxation assistance.
You might not think that this is the case however, because if you look online you’ll see a whole host of so called asset protection solutions available to you – some of which you can even buy same day, off the shelf! In actual fact such solutions are liable to strip your assets in terms of the capital you have to lay out to purchase them, and they may even be illegal or at least unsuitable for your own requirements. In this article we’ll have a look at how to avoid the most obvious offshore asset protection scams because there are a lot of them out there.
Offshore Investment and Saving for British Residents
Published on 18 February 2008Category: Offshore Investment and Saving
What with the Inland Revenue’s crackdown on British residents with offshore assets last year, the annual non-dom fee that is expected to be introduced in April and the fact that it is widely believed the government will take further action against those who reside outside the UK but frequently visit, the thought of saving or investing offshore when you’re a British resident becomes one fewer and fewer people are likely to even consider.
After all, what if you were mis-sold an offshore policy and accidentally avoided tax you were liable for? What if you were not even legitimately able to place assets overseas and you did so? The fact of the matter is, offshore investment and saving for British residents can actually be beneficial in certain circumstances – but before you go ahead and explore your options, you need to understand the laws, the rules and the regulations…
Offshore Tax Havens Update on Isle of Man
Published on 13 February 2008Category: Offshore Tax Havens
According to comprehensive data relating to the development of various sectors of the offshore fiscal industry in the Isle of Man, this particular well-regulated and respected offshore tax haven is continuing to assert its dominance in the international financial services arena.
We have collated the pertinent facts and relevant data from the recent updates about the development of offshore financial business in the Isle of Man as part of our offshore tax havens update, this will enable individuals to assess and compare jurisdictions as they do their due diligence on which global centres offer them and their assets the most secure and competitive location for investment, insurance, banking etc.
Expatriate Tax Saving in UK Under Threat
Published on 11 February 2008Category: Expatriate Tax Saving
The UK government has plans in place to begin taxing non-doms – or non-domiciled residents in the UK who earn an income abroad and therefore pay no taxation on such income in the UK. Long considered an excellent location for international trade and business as a result of its favourable taxation treatment of non-domiciled individuals, the expatriate tax saving advantages in the UK are now under threat.
The short sighted and extremely damaging Labour plan in a nutshell is that anyone non-British domiciled but resident in the nation for seven years or more will pay a flat fee of GBP 30,000 to retain their tax efficient status. Naturally enough there are many individuals up in arms about this – but international companies who send workers to the UK are also upset at the plans as is the British maritime industry...now leading voices in the worlds of business and finance are vociferously lobbying the government to amend their damaging plans.
Offshore Tax Havens to be Targeted
Published on 10 February 2008Category: Offshore Tax Havens
According to an in-depth report by Reuters, the US are planning an intensive crack down on offshore tax havens preferred by their elite and wealthy citizens.
The report focuses on Senator Carl Levin’s drive to stop taxation being avoided offshore by some of America’s most successful and affluent individuals. The Senator is proposing legislation and law changes to prevent offshore schemes being promoted in America, and he is also pushing for penalties to be placed on legal offshore centres in the same way as illegal offshore money laundering locations are penalised. So, offshore tax havens are to be targeted – but what does this mean for the average American tax payer?
Why You Need Offshore Asset Protection
Published on 22 January 2008Category: Asset Protection
If you’re in business, you’re employed as an advice giver or you could one day face the risk of a judgment being brought against you for compensation in these litigious times, this article about why you need offshore asset protection could save you a fortune in legal bills and a lifetime in terms of stress and worry.
It’s a sad fact that the world has indeed become a place where people are far happier to sue than they are to calmly resolve issues. In addition to this, phrases such as ‘where there’s blame there’s a claim’ are actually to blame for fewer people taking personal responsibility and instead, going after soft targets for financial payout. If you want to protect yourself, your assets, your family, your business and indeed your reputation – consider adopting an asset protection strategy.
Offshore Company Formation Guide
Published on 21 January 2008Category: Offshore Company Formation and Incorporation
There are about five main reasons why anyone would consider establishing a company offshore and in fact, greater numbers of individuals and corporations are taking steps to incorporate overseas away from either their nation of domicile and/or residence, or away from the nation in which their main business transactions are conducted.
If you’re considering starting a company this offshore company formation guide will be of use to you. We will discuss the reasons why people incorporate offshore and how to go about finding the jurisdiction that’s right for you…
Expatriate Offshore Banking Survey
Published on 15 January 2008Category: Offshore Banking
According to a London Stock Exchange report, Alliance and Leicester, which is a leading British onshore banking provider less well known for their offshore and international banking facilities and services, has commissioned an in depth survey of expatriate offshore banking behaviour so that they can understand their potential client-base better.
The survey reveals what we at Shelter Offshore really already suspected – although there is one rather surprising finding! So, let’s take a look at the expatriate offshore banking survey from Alliance and Leicester and see what they discovered about expat banking patterns and behaviour.
Private Offshore Trust Company Benefits and Features
Published on 12 January 2008Category: Offshore Trusts
If you’ve never heard of a private offshore trust company – or PTC for short - don’t worry! These entities were lesser known and used until recently, but they are becoming more flexible, more likely to be accepted by most jurisdictions and therefore better known and more widely used, which is why we have decided to feature private offshore trust company benefits and features so that more people can get to grips with the intricacies of these highly useful entities.
If you’re familiar with the concept of an offshore trust but always had issue with handing over control of your assets to a third party you are not alone. Many people fear that the establishment of a trust really leaves them in too tenuous a position regarding the protection and management of their own assets…which is why private offshore trust companies came into being. They give the settlor far greater asset control.
Expatriate Tax Saving Advice
Published on 10 January 2008Category: Expatriate Tax Saving
The idea of moving abroad and expanding your physical and spiritual horizons is one that appeals to many people but it takes a special kind of individual to actually make the move a reality. These special people fall into the category of ‘expatriate’ and it’s a pretty exclusive club to be a member of!
If you’ve already expatriated – congratulations - and welcome to a world of opportunity and adventure. If on the other hand you’re toying with the idea of international relocation, chances are the experience will be hugely rewarding for you on many levels. At Shelter Offshore we impart advice that we have learned ourselves – and one of the most important pieces of advice that we can give is expatriate tax saving advice. As an expat it’s the first thing you should know about but usually one of the last things you think about!