While there are still mainly offshore centres with zero corporation tax, their usefulness have some extent being reduced due to increased requirement for transparency and global exchange of information. Already zero tax option has been associated with lack of transparency and compliance. It won’t be long before total elimination of tax will become impossible and tax minimisation in a legitimate way is the only way forward.
Whilst the advantages of using offshore companies for tax minimisation are numerous, one should not be tempted to create a structure without obtaining tax advice from qualified professional. Blatant tax evasion is the thing of the past. With exchange of information agreements, information sharing and close co-operation by taxing authorities, a tax payer must create a structure that can stand up to scrutiny. In the very near future, we expect that a structure that is lack of substance, lack of transparency and lack motive other than tax motive will not be able to stand to scrutiny by tax authority. With this in mind, we can work together with tax professionals familiar with your personal tax circumstances to create a structure that is suitable for your need. We are not offering tax advice but having been in this business for many years we know, at least generally, some of the pitfalls to avoid. We are able to refer your circumstances to qualified professionals so you are guided throughout.
Further some of our Management Options are useful to create substance and minimum transparency in order to avoid the lack of substance issue.
Please write to us to discuss your circumstances.