Caribbean tax havens
The Caribbean tax havens are well known for bank secrecy and low taxes.
The Offshore banking world is becoming very competitive, there are many choices from various corners of the world now. We’ve immediately identified three areas in the Caribbean for bank referral based upon our research of political stability, sound currency and banks, functionable and logical legal system, and we has also looked at the state of infrastructure & telecommunications available in these tax havens. The three major areas that meet our standards as a first class banking destination include the Cayman Islands, British Virgin Islands and the Turks & Caicos, all of which are British dependent territories and have their banking audited by the Bank of England.
It should be mentioned that the Bahamas is a popular offshore destination but will be assessed in further detail at a later date for bank introductions. However, a recent concern for the Bahamas banking region includes the issue of compromises with respect to bank privacy and tax related matters that have taken place since year 2000. An area of further interest is Barbados, a prosperous and growing money haven in the southeast Caribbean. Please send us an email directly if you have a request for any Caribbean region not covered in detail in this section, we are happy to oblige.
The economy of the Caribbean is for the most part dependent on two industries, tourism and offshore finance. The various governments across the Caribbean have implemented wealth enhancing policies to stimulate investment by creating very attractive tax environments for non-residents. The Caribbean has become a magnet for attracting international monies, a banking region simply known better as an ‘INTERNATIONAL TAX AND ASSET PROTECTION HAVEN’.
Obviously, one of the main attractions of the Caribbean tax havens is the low tax rates, if any at all. The economic and political situation is stable. The currencies in use for the most part are linked to the US-dollar or the US-dollar itself is in use. Similar to other banking regions around the globe, the Caribbean is not immune to some precarious financial institutions and dubious management ethics. In the past, the country of Grenada has run into difficulties with fraudulent banking activities. Exactly what assets and who are behind some of these banks is an open question. The professionalism of the staff maybe questionable as some employees could be bribed for information from different authorities. For this and other reasons, we takes great concern and research in recommending first class financial institutions and or other professionals who have the specific expertise to answer your request.
Setting up an offshore company as a way to shelter assets is a very popular vehicle for many high net wealth individuals. Within a tax haven, all business including investments and banking is conducted under corporate ownership, thus the names of the shareholders, officers, and directors are kept completely confidential and private. We specifically does not get involved with company incorporations, but we do have several network contacts who would welcome the opportunity in assisting you to set up accordingly.