Buying Your Tax Haven Corporation By William Cate Published March 1998
[http://home.earthlink.net/~beowulfinvestments/]
[http://home.earthlink.net/~beowulfinvestments/globalvillageinvestmentclubwelcome/]
Your purpose in buying your tax haven corporation determines your
incorporation and maintenance costs. You can buy a new car, without an
engine. It'll cost less than a new car that works to your satisfaction.
The most common reason that Americans buy a tax haven corporation is to
impress people. They want to park their new engineless car in their
driveway and have it admired by their friends and business associates
at cocktail parties or business luncheons. At best, their purchase is a
protest against government. Since their tax haven corporation isn't
going to be used, they should buy the cheapest tax haven corporation.
The financially unsophisticated buy a cheap tax haven incorporation to
save money. They don't realize how easy it is to lose their offshore
nest egg. In some cases, local attorneys don't file the incorporation
documents with their Government. Local tax haven banks fail at an
alarming rate. Nominee directors have the power to defraud the unwary.
Western taxing authorities often collect taxes from the unwary tax
haven corporation. The road to tax haven success is dotted with
hundreds of these potholes. The unsophisticated are certain to wreck
their car driving this road.
For over 100 years, financial
advisers have helped the unsophisticated survive on the road to tax
haven success. In Europe, these advisers tend to be from old-money
families. In the States, they tend to be attorneys and accountants. Do
you want to drive a tax haven car and don't know how to do it? You
should hire a tax haven adviser, as your chauffeur. It's good
insurance. They'll add $5,000 to $10,000/year to your costs. However,
you'll avoid the loss of your offshore nest egg from hitting a pothole.
You can pay over a hundred thousand dollars a year for your tax haven
incorporation. It's done by the super rich and multi-national
corporations. They get a team of drivers who ensure that they prosper
without having tax problems from their local taxing authority. Their
chauffeur costs are justified because their tax savings more than
offset their costs.
For the past twenty years, I've helped
Stock Market professionals create International Business Corporations
(IBCs). My design is sound. We're taking some of these IBCs public.
They aren't the dream machines of the super rich. They aren't the
engineless new cars of cheap tax haven incorporation. They meet a need.
If you share that need, they are your best value. The cost is US$3,500
for the formation of your tax haven
corporation. Thereafter, the
annual maintenance fee is US$600/year for a private IBC. It's
$1,000/year for a publicly trading IBC.
Putting aside ego and
ignorance, tax haven corporations aren't for everyone. If they are for
you, you must decide upon your purpose, before you shop for the best
value. If you need stock trading and currency help, I offer the best
value. If you want to use a tax haven corporation to hold a global real
estate empire, you need help from someone who creates real estate tax
havens. Your purpose will determine your costs. It will determine the
location of your tax haven. It will determine whom you'll use as your
adviser.
To contact the author: Visit the Beowulf Investments website:
[http://home.earthlink.net/~beowulfinvestments/]
Or, visit the Global Village Investment Club Website:
[http://home.earthlink.net/~beowulfinvestments/globalvillageinvestmentclubwelcome/]
About the author:
He has been the Managing Director of Beowulf Investments [http://home.earthlink.net/~beowulfinvestments/] since 1981 and is the Executive Director of the Global Village Investment Club [http://home.earthlink.net/~beowulfinvestments/globalvillageinvestmentclubwelcome/]
