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Are there any regulations forbidding foreign business or banking?
Absolutely not. The Europe, U.S and Canada encourage international trade and investment. As such,
there are no regulations forbidding citizens of these countries from doing business or having bank accounts in other countries.
Do I have to travel to "go offshore"?
No you don't have to. IIS interfaces with offshore institutions to form IBC's, open bank and
brokerage accounts, forward offshore mail, etc. so that clients don't have to leave the office to go offshore.
What tax haven is the best to form an IBC in?
There are many countries all over the world that are considered "tax havens". These
jurisdictions generally have no taxes (on foreigners) and strict privacy laws. The question is not, "which is the best", but "which is the best for your situation". For Europeans, several factors
are important. First, the tax havens under consideration must have no taxes of any kind and strictly enforced privacy laws. Next, English must be the main language, the judicial system must be based on British
Common Law, the country must have a long history of political stability and must be completely independent from one's home country. Ideally, the tax haven should be geographically close to home to allow for swift
travel should a client desire to visit. This narrows the field down to a very few including The Seychelles. All Off-shore jurisdictions forms completely private IBC's that are authorized to do business worldwide
(except in the country of incorporation). An IBC formed in one country is just as private and functional as an IBC formed in any of the other countries. Therefore, the Cost of setting up becomes the final
criterion.
Why does Seychelles receive good recommendations?
Seychelles meets all of the requirements for a preferred tax haven for American, European, Middle
Eastern and Far Eastern:
- Seychelles is an Independent Country with a very stable Governance.
- English and French are the main languages.
- Laws are based on British Common Law.
- Seychelles has no currency exchange controls..
- Seychelles has no tax treaty with other countries.
- Seychelles is a desirable place to visit or retire.
- Seychelles is very accessible from Europe, Middle East and Far East by air.
What is an acceptable name for an IBC?
Any name you desire as long as it is not already in use. There are very few restrictions. The
name of an IBC must preferably end with "Incorporated", "Limited", "Corporation", Prefix or Suffix or Country names may be questionable at the time of incorporation. Other than these
limitations an IBC may have virtually any name. An IBC name may include numbers and symbols.
Who controls the offshore accounts?
You do. The client is in complete and total control of all accounts at all times. His/her
signature is the only one that appears on any bank or brokerage accounts and no one but the signor may use or access funds in the accounts.
How do I bring money back from offshore?
There are four ways to bring money back from offshore:
1. Money may be wired directly from offshore into a domestic account.
2. Offshore banks and brokerages issue Visa/MasterCard debit cards and secured credit cards to
account holders. These cards may be used to make purchases from merchants or to withdraw cash from an ATM.
3. The foreign company (IBC) or trust may purchase real estate, cars, businesses, etc. Typically,
the founder/client acts as an agent of the IBC or trust to purchase assets on its behalf. By this means, assets are held under a corporate or trust name, thus helping to protect the client's privacy.
4. The client may borrow funds from the corporation or trust. The IBC or trust is a separate
legal entity from an individual and may make loans to individuals or other entities.
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