Nearly every country in the world has some form of taxes. Most countries charge a proportion of the worldwide income of every individual or corporation resident in their jurisdiction. The USA goes even further - charging their citizens and green card holders taxes even if they are not resident in the country.
Offshore, however, taxes can be lower or non-existent. Many countries have introduced special tax regimes to encourage foreign investment, while the lucky few such as Monaco, Sark and Andorra are simply accidents of history where taxes were never introduced.
Whilst European countries typically charge tax on worldwide income, there are many countries in Asia, the Caribbean and Latin America that only charge taxes on local income. This system, called territorial taxation, means you are free to live within their borders completely tax free if your money is earned offshore.
Specific taxes offshore (whether on profit, labor or capital) vary significantly depending on the jurisdiction of registration and where business is physically carried out. To choose the best tax optimization strategy, it is necessary to assess the risks and possibilities of using foreign companies, and at the same time to understand the nuances of legislation and tax policies of different states.
Our experts will be happy to assist in registering a foreign company to solve your problem. We recommend that you start by filling out a questionnaire for selecting a jurisdiction for registering or transferring your business.
Below you will find interesting and useful materials on taxes abroad, offshore tax strategies and more. Please also feel free to browse the rest of the International Wealth portal where you can learn much more about offshore tax planning and offshore tax strategies.
Tax rates in the USA in 2023. Select states for doing business in the USA in 2023. Top 10 states in the USA for businesses in 2023. Corporate income tax by state in the USA: state-specific rates. What US states impose no income tax? Which states in the USA waive sales tax? Europe, USA, or offshore jurisdictions – where should you start a company for maximum tax efficiency?
Company registration in Cyprus in 2023: tax payment methods and deadlines. How high is the corporate income tax rate in Cyprus? Value added tax (VAT) in Cyprus. Property taxes in Cyprus. Tax payment deadlines in Cyprus in 2023. Dynamic changes in Cypriot taxation. Cyprus taxes for individuals in 2023. Tax penalties for failure to pay tax in Cyprus. Strategic tax planning in Cyprus for individuals and legal entities
There are some specific taxes applicable to yacht owners. Our experts can help you figure out a way to optimize taxation and save money when purchasing a yacht
Are you planning to acquire a residence permit in Portugal – or maybe you have one? Congratulations: this is a wise decision. However, you have to know the peculiarities of taxation for expats to comply with the local laws and avoid any penalties being imposed. If you permanently reside in Portugal (at least 183 days a year) or if you have a local address. You may be entitled to apply for an NHR (Non-Habitual Resident) status. It will help you to reduce the tax burden for at least 10 years. However, make sure not to use it for aggressive tax optimization or your application will be turned down.
Taxation system is the key to the country’s attractiveness for businesses and investors. It’s the ninth time in succession that Estonia comes first in the Tax Foundation’s International Tax Competitiveness Index as an OECD country with the best taxation system. Want to discover the secrets of its success? There are five factors that contribute to Estonia’s high score, and you can discover all of them in the article. Absence of corporate income tax, E-residency program, minimized red tape, simple taxation system and beneficial VAT arrangements keep the country’s ranking high.
Company or corporate tax in Serbia. Other corporate taxes in Serbia. What is the VAT in Serbia? Double taxation treaties and withholding tax. Personal income taxes in Serbia. What is the indirect tax in Serbia? More info on the subject. Official employment for foreign nationals in Serbia. Summary and recommendations.
Serbia is becoming an increasingly popular destination for foreigners to move. Low taxes and a relatively inexpensive but quality standard of living are the main reasons for this. Our experts will explain what taxes a private person should pay in Serbia and what tax incentives are available.
A foreign person or a foreign legal entity is entitled to establish a business company in the region and become a tax resident there. The tax regimes are highly beneficial in many Caribbean countries. Caribbean banks offer a wide range of services to individual and corporate customers. Besides, it is possible to acquire Caribbean citizenship by investment.
Are you looking for an attractive destination for starting a business abroad? We offer to consider Serbia, a country with one of the lowest business taxes in Europe and various tax incentives. Read details about the system of corporate and personal taxation in Serbia in your article.
Both citizenship of the U.S.A. and legal foreign residents of the country are taxed on their domestic as well as their foreign income. There are some exceptions from the general rule. In particular, the following instruments of tax deduction are available to an American making an income in a foreign country: Foreign earned income exclusion; Foreign housing deduction or exclusion; and Foreign tax credit. The essential requirement is that the taxes should have been paid (or charged) in the foreign countries.
How to choose the best country for registering a foreign company? The low corporate tax rate, as well as other business taxes, is one of the critical factors. Our experts have prepared for you the ranking of countries with no corporate tax in 2023.
Is it possible not to pay tax on worldwide income? Yes, there are countries that do not charge such a tax, as well as other types of taxes, for example, on capital gains, or dividends. Our experts have prepared a complete list of tax-free countries with recommendations and comments.
Which countries have the lowest standard VAT rates in 2023? Explore the value-added tax rates across the world and look behind the figures. Low-rate VAT countries. Zero-rate VAT. Higher VAT rates by country in 2023. Benefits of low VAT rates vs benefits of high VAT rates.
Do you pay taxes in Paraguay? Undoubtedly yes, but this country offers very favorable rates for both businesses and individuals, which in some cases can even be reduced to zero. Our experts will talk about the tax advantages of this country, as well as the possibility of quickly and inexpensively obtaining permanent residency in Paraguay.
Taxation of residents and non-residents in Estonia: dividends, source of income location, royalties, and technical service fees. Residents of Estonia. How to save on taxes in Estonia as a non-resident? Tax deductions for non-residents in Estonia. Non-residents of EEA member states and third countries. Standard personal allowance and rental income deductions in Estonia. Double tax treaties for non-residents in Estonia: real-life examples. What advantages does tax residency in Estonia offer?
Are you planning to start a business in Europe? A Serbian LLC is a convenient legal form to do so. In this post, we are going to look at the taxes paid by Serbian LLCs and the benefits available in the jurisdiction. The taxes can be divided into four groups: corporate income tax, value added tax, salary tax, and other taxes. We are going to look at each of them (and the applicable rates) in detail. And if you need to quickly establish a company in Serbia and open a bank account, you can contact the experts on our portal. We have an office in Belgrade to help you ease your way into Serbian business.
People who have not been tax residents of Portugal for five years and who have lived in the country for at least 183 days can apply for Non-Habitual Residence in Portugal. The status of a non-habitual resident allows its holder to avoid paying taxes on their global income while living in Portugal. The status can be held for ten years and no extension is possible.
Are you on the point of choosing a European country to relocate your family or your business? Or maybe you are looking for a jurisdiction to start a company? European countries traditionally have high taxes. However, there is one nuance: the taxes required by laws may be higher than the amount actually paid if you comply with certain requirements. In addition, European countries have different taxation systems, they are not uniform at all: the tax rate may vary from 9% to 35%! As you see, you need to have enough information to make the right choice, and we can help you get it. Read on to discover more.
Here’s how billionaires strategically exploit tax loopholes to grow their fortunes and avoid taxes. Unlocking the advantages of funds. Gifts: learn how you can minimize inheritance taxes through them. Family offices for wealth management and tax optimization. Investments: lower tax rates on passive income. Change of residence to enjoy lower taxes or avoid them. Pension and insurance accounts: tax benefits for contributions and withdrawals. Expense write-off as an instrument to avoid taxes.
Have you heard of the tax haven of Labuan? This is a Malaysian offshore zone where you can register a company to benefit from low tax rates. Unlike other offshores, Labuan cannot boast zero taxation – you will still have to pay a profit tax of about 3%. The tax rate depends on the time of the company and it will differ for holding and trade companies, for example. But if you look at average Malaysian tax rates that amount to 20 to 30 percent, you will see a huge difference! Read the article to find out more about company registration and taxation in Labuan and economic substance requirements on the island.
The article discusses Mauritius as a midshore jurisdiction, which has favorable tax rates and is respected internationally. It compares Mauritius' tax structure with classic offshore jurisdictions, outlining the tax rates for individuals and corporations.
Offshore tax – main principles. What taxes do offshore companies pay? Tax payment principles European companies follow in case of offshore transactions. Learn how to legally avoid paying taxes. Offshore taxation: busting the myths. Expert recommendations from the International Wealth team on how to reduce corporate taxes.
Things you should know about taxation in Switzerland. Swiss taxation system: types of taxes. Income tax for natural persons, corporate tax, value-added tax, and withholding taxes. Stamp duties and border taxes. Direct taxes and charges: income tax, corporate profit tax, personal property tax, inheritance tax, and withholding tax at source. Federal taxes in Switzerland. Swiss tax residence for individuals. Swiss tax residence for legal entities.
Singapore as the world’s top financial and economic hub. How to determine Singapore tax residency: rules and requirements. Strengths and perks of Singapore tax residency. Can you do business in Singapore without paying taxes? Tax residency and the jurisdiction the company operates from as critical factors behind the answer. Corporate taxes and tax rates for Singapore residents and offshore businesses. Company incorporation services in Singapore from International Wealth.
