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| TAX HAVENS OF THE WORLD - 2003/8th edition |
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| (18 years of practice - 13 years offshore in the no-tax haven of the Bahamas) visit www.bahamasbahamas.com |
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Tax Havens of the World (8th edition/2003) covers all the major havens, including the Caymans, Bahamas, Bermuda, Liechtenstein, Switzerland, Singapore, etc. The author has over 18 years reading and writing about tax havens and the US Tax Code that covers their use and abuse. Learn how non-resident aliens trade NYSE stocks, bonds, options and commodities - TAX FREE -legally - offshore like thousands of offshore banks and companies (IBCs) do!
Avoid federal income and estate taxes with the latest "trend" - the foreign offshore estate. US (domestic) estates - even with the repeal of the federal estate tax after 2010 - will still be subjected to Federal income and gift taxes, as well as State income, inheritance and estate taxes too! See page 254 of this edition.
The Bahamas, the Cayman Islands, Anguilla and Bermuda have no personal income taxes, no corporate income taxes, no capital gains taxes, no withholding taxes, no estate, gift or inheritance taxes, no sales taxes, no employment taxes, no death duties, and no probate fees. Guarantees against future taxes are provided by these governments for periods up to 50 years. Exempt trusts can receive a guarantee up to 100 years.
From the Author
The New 2003 (8th edition) of Tax Havens of the World is my best work. - the author.
email: taxman@batelnet.bs
http://www.bahamasbahamas.com
OTHER WEBLINKS ABOUT OFFSHORE TAX HAVENS..
http://www.bahamasbahamas.com/orderibc.php
http://www.bahamasbahamas.com/bankingoffshore.php
http://www.bahamasbahamas.com/offshorethr.php
You can order directly from Amazon.com
http://www.amazon.com/exec/obidos/ASIN/1893522024/104-2193575-6201540
http://www.amazon.com/exec/obidos/tg/detail/-/1893522024/ref=pm_dp_ln_b_6/104-6348788-8314349?v=glance&s=books&vi=reviews
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| EXTRA - TAX TIPS: tax benefits for American Citizens living abroad: |
Under US tax law (i.e., Section 911 of the Internal Revenue Code) , an American taxpayer and his wife can exclude up to $76,000 each from their salary ($152,000 = total), provided they live offshore at least 330 days of every year. This is called the "Foreign Earned Income Exclusion", and is part of the Statutory Internal Revenue Code. This exclusion is an annual tax allowance under US tax law, but you have to live outside the US at least 330 days to qualify for it.
The amount one can exclude increases to $80,000 for fiscal year 2,002. For 2001 the amount excludable goes up to $78,000 - each.
For Example: Anguilla Real Estate broker company X received $1,000,000 in annual commissions in 2,002. John and Joan Dakota (now living in Nassau, Bahamas) are the owners of Anguilla Real Estate broker company X - a company that has no offices inside the US.
John and Joan of Nassau could receive up to $160,000 in salary from the offshore IBC, as employees, and they would only have to file a IRS Form 2555 with their 1040 tax return.
This "exclusion" is called the Foreign Earned Income Exclusion - and can be taken annually; but if you don't file Form 2555 with your 1040, you don't get the EXCLUSION!
Anguilla Real Estate broker company X would owe no taxes on its $1,000,000 revenues, so long as it does not "do business inside the US". Anguilla has no income tax system. Furthermore, countries like Anguilla, Cayman and the Bahamas do not tax capital gains, dividends, royalties or interest. There is no estate tax duty in these places either, and no gift taxes.
Incidentally, US taxpayers John and Joan Dakota (above) would owe taxes on their capital gains and interest income, as this is not considered "Foreign earned income" under the US Tax Code.
Moreover, the corporate income accruing to the Anguilla company from "services performed outside the US" would not ordinarily be "Foreign Personal Holding Company Income" in the hands of the shareholders. Using a foreign trust to hold the shares of the foreign company from the very beginning can often help avoid some of the other pitfalls in the US Tax Code - that might apply to John and Joan Dakota (as shareholders of Anguilla company X).
Copyright - "Tax Haven Reporter - All Rights Reserved |
| From the New York Times |
Manhattan Prosecutor Criticizes Caymans Tax Pact
By DAVID CAY JOHNSTON - December 8, 2001 New York Times
"Federal Reserve data show that $800 billion is being held in Cayman Islands accounts for Americans, an amount equal to roughly one-third of all domestic bank deposits, according to Robert M. Morgenthau - the Manhattan district attorney".
Manhattan District Attorney Robert Morgenthau told senators recently that about $800 billion in U.S. dollars is on deposit at some 600 banks licensed in the Cayman Islands -- more than twice the amount deposited in all New York City banks combined.
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| Want to know why and how the old monied Dupont Nemours and Roosevelt families were able to buy 4,000 acres of waterfront property on the island of Provindentcials in the tax free, crown colony (or "Overseas Territory") of the Turk and Caicos Islands |
Want to know why and how the old monied Dupont Nemours and Roosevelt families were able to buy 4,000 acres of waterfront property on the island of Provindentcials in the tax free, crown colony (or "Overseas Territory") of the Turk and Caicos Islands for 1 cent an acre?
This 4,000 acre sale (now a marina and resort town - with an airport for jumbo jets (the $50,00,000 airport was donated by the UK government) went down in the 1970's - not the 1870's!?!?
Source: A Turks & Caicos Government 3 full page advertisement in Investor's Daily (1985).
Was this the most profitable real estate investment of the 20th century? A quarter acre lot in the gated community of Sandyport here in Nassau, Bahamas sells for approximately $260,000 today. Half acre canal lots in Lyford Cay sell for about one million dollars.
Do the math. On an initial investment of just $40, the 4,000 acre property might be worth almost 4 BILLION dollars today.
YOU BE THE JUDGE.... Are the use of the world's tax havens a blessing or a detriment? Before you answer, see some of the IRS's loopholes from our "Tax Code" - discovered for your viewing below, and buried inside the tax law for the taxpayers! There's an very important loophole for the non-resident alien you should not overlook!
Want to know more about the US tax rules governing the use of tax havens by US taxpayers?
Order a subscription to the TAX HAVEN REPORTER ($200/12 issues) and receive FREE a copy of our 350 page book TAX HAVENS OF THE WORLD - 8th edition (2003)(reg. retail $80).Click on below for our order form. Just e-mail me you name and address and I'll have our fulfillment people fill the order today. You can send us a check or MO afterwards to the address on the order form. You can also order the book with your credit card from Amazon.com/
http://www.bahamasbahamas.com/offshorethr.html/offshorethr.html
http://www.bahamasbahamas.com/orderibc.php
Thousands of Offshore "Banks" trade the NYC Stock Markets tax free - legally! How?
click onto the link below for the details
http://www.geocities.com/taxhavens123/capitalgains_taxfree.html
For my Offshore Request Form click on to..... (or paste in your browser)
http://www.bahamasbahamas.com/orderibc.php
PROFESSIONAL TRACK RECORD:
About Thomas Azzara (NEW PROVIDENCE ESTATE PLANNERS, Ltd.)..... In the last 12 years, I've incorporated over 1,350 International Business Companies here in Nassau and in Anguilla in the British West Indies. Anguilla is a no tax haven like Cayman and Bermuda.
Beginning in 2,001, we began forming IBCs out of the Crown Colony and no tax haven of Anguilla - 150 miles east of Puerto Rico.
We have a total of over 400 IBC's (in-house) that are mostly Bahamian in origin, and most all are being moved to better jurisdiction - in our opinion.
We've formed more than 250 Anguillan IBCs since the beginning of this year (1-3-2001 through 12-21-2002).
It takes less than one day to get the documents and company registered in Anguilla, and on the way back to client the next day.
In January, 2001, I became an "Overseas Agent" for the Anguilla Government Registrar of Companies, and as such, have a signed official Agreement with them. I also have same agreement with a barrister/firm in Anguilla - also working directly with Anguilla Government.
We/I can and will provide you with bank contacts and application information for good banks in the following jurisdictions: Isle of Man (a major institution) + Anguilla (2 banks there - one used by the Anguilla government) + Bermuda (two of oldest banking institutions in offshore world).
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