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.
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.
What is stamp duty: introducing the concept. How can high net worth individuals save on stamp duties? Property purchase through an offshore company or a trust, exemptions, investments in smaller properties, transfer of ownership, property purchase in lower-price districts, stamp duty refunds, rentals, negotiations, and deferred purchase decisions. Stamp duty – examples. Rules and regulations as to stamp duty payments in Great Britain, Germany, Greece, India, the USA, and Australia.
The latest changes in the Common Reporting Standard (CRS) in Singapore. Expert help and advice in a wide range of matters concerning taxation, financial reporting and doing business in Singapore.
Singapore remains one of the most attractive jurisdictions for international entrepreneurs. One of the key factors that make it so inviting is the beneficial tax system. The corporate tax rate is only 17% in Singapore, which is lower than it is in most other well-developed countries. In addition, various tax incentives are available to companies working in Singapore.
We all know that the UAE is a rich country, and it offers really low tax rates which attracts a lot of immigrants. The logical question people ask is how it can be that the country does not get much from taxpayers and offers excellent living conditions and infrastructure. In this article, we will answer this question by giving you a brief overview of the UAE’s taxation system and the sources of the country’s wealth. We will also talk about the path toward UAE residency status and changes in the country’s taxation expected in 2023. Read the article to find out more details about this remarkable state!
Choosing the most effective methods to pay taxes in the US – study the details. IRS tax payments via special-purpose software. Direct tax payments to the IRS. Ways to pay IRS taxes via the federal system. Standard same-day bank transfers, debit cards, credit cards, cheques, money orders, or cashier’s cheques as efficient US methods to pay IRS taxes. Tax payments in cash. Using the IRS2Go mobile app to pay taxes to the IRS. How to pay IRS taxes in the US by installments.
Finland is planning tax changes for people who want to renounce citizenship. What exit tax is and in which countries it already exists, we will tell in our article.
The Emirates recently announced the introduction of a corporate tax in 2023. In this article, we will answer the most common questions from our readers about corporate taxes in UAE and new changes in UAE corporate tax law.
What country has no capital gains tax? Here is our list of the top 5 jurisdictions recommended to people on the move, investors, and entrepreneurs. For more information and advice on zero-rate and low capital gains tax countries, please book a free online consultation.
Are you looking for opportunities to create a new business or scale up an existing one abroad? See our ranking of low corporate tax states to choose the right jurisdiction!
Our experts have prepared a detailed guide on foreign income taxation in the United States. In this article, you will learn how the IRS works and what income you need to pay tax on.
Taxes in the UAE in 2022: Customs Duties, AEO Certification, Industrial Exemption Program. Tax Residency for Individuals. Taxes and Social Security.
Taxes in the UAE in 2022: VAT Registration and Administration. Categories of goods with 0%VAT. Excise Tax. Designated Zones. Digital Tax Stamps.
Taxes in the UAE in 2022: Various Rules and Fees. Avoiding Dual Taxation. Economic Substance Rules. Expert Analysis.
Taxes in the UAE in 2022: Various Types and Rules. Tax residency, Taxes for Foreign Individuals and Companies. Expert Analysis.
Taxes in Montenegro, tax residency, and citizenship by investment in this European country. Up-to-date information, expert advice, professional assistance.
How does the legality of offshore companies depend on their use? The benefits of a thoughtful offshore business setup. The milestones of success.
Tax laws in Europe in a nutshell: an overview of country-specific tax rates and deductions in 2021. Business, accounts, residence permits, citizenship in Europe.
Singapore is a small Asian country with an exceptionally strong economy. Currently, it ranks fourth in the GDP per capita index. Among other things, the taxation policies applied in Singapore contribute greatly to the prosperity of the country. The corporate tax rates are comparatively low, which makes Singapore attractive for a great number of foreign investors who set up large and small companies there.
How can a company incorporated in the island of Nevis become a tax resident and start paying local corporate tax? We will talk about this in the article. Offshore company on the island of Nevis For many years Nevis has been a low profile but well reputed offshore jurisdictions. It has always been advantageous to […]
The G7 announced a Global Minimum Tax Rate of 15%. In this article, we argue that their goals are completely unrealistic, only invented for publicity and political considerations. The G7 and G20 have actually moved their focus away from offshore centres and are going instead after big, western multinationals because they see a bigger political and financial benefit. The offshore lifestyle remains intact!
