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Seychelles general information

Seychelles: general information

Presentation of general information about the Seychelles, peculiarities of the historical, political and economic development, investment environment, business industry and set of financial instruments as well as international reputation of the jurisdiction

Seychelles general information
Why to choose Seychelles?

Why to choose Seychelles?

Detailed research of features and advantages of all business companies types which could be incorporated within the jurisdiction of the Seychelles

Why to choose Seychelles
Seychelles: IBC & CSL

Seychelles: IBC & CSL

The brochure is devoted to research registration process, capabilities, tax rates and application practice in business environment of Seychelles IBC and CSL.

Why to choose Seychelles
Seychelles: Foundations, Trusts, Limited Partnerships

Seychelles:
Foundations, Trusts, Limited Partnerships

The brochure deepen in the essence of the next types of Seychelles entities such as foundations, trusts and limited partnerships which are considered suitable vehicles for international tax planning, assets protection and other financial activities.

Why to choose Seychelles
Seychelles: Cooperation between companies

Seychelles:
Cooperation between companies and banks

The brochure provides considering relationships between banks and entities that is a natural extension of opening an entity in the Seychelles.

Why to choose Seychelles
Seychelles: frequently asked questions

Seychelles:
frequently asked questions

The brochure summarizes the survey about Seychelles offshore and answers some frequently asked questions, which arise when acquainting with the Seychelles jurisdiction.

Why to choose Seychelles
UNITED KINGDOM: OVERALL REVIEW

UNITED KINGDOM: OVERALL REVIEW

In this brochure, examples of practical use of an LTD are examined eg provided detailed information on a business purposes as using an LTD as company receiving dividends, holding company and nominee or agent. Another one issue is to study complex guidance how to rule an LTD and LLP.

UNITED KINGDOM: OVERALL REVIEW
UNITED KINGDOM: LTD & LLP (part 1)

UNITED KINGDOM: LTD & LLP (part 1)

This brochure presents an information about tax rates and tax residence status in the UK. In addition, it is studying the details of the most demanded business structures, particularly Private Company Limited by shares (LTD) and Limited Liability Partnership (LLP)

UNITED KINGDOM: LTD & LLP (part 1)
UNITED KINGDOM: LTD & LLP (part 2)

UNITED KINGDOM: LTD & LLP (part 2)

In this brochure, examples of practical use of an LTD are examined eg provided detailed information on a business purposes as using an LTD as company receiving dividends, holding company and nominee or agent. Another one issue is to study complex guidance how to rule an LTD and LLP.

UNITED KINGDOM: LTD & LLP (part 2)
Public Limited Company

Public Limited Company

In this brochure, the leading experts of our company provide answers on the most popular questions related to this business structure. There is an excellent possibility to fill up your knowledge by information about doing business with the help of Public Limited Companies, receive an explanation on the rules how to sell the company's shares on the stock market and other advantages.

Public Limited Company
Scotland: WHY NOT?

Scotland: WHY NOT?

This brochure fulfilled the UK jurisdiction series with Scottish business structures. All the requirements, practice of application, advantages, main differences between the UK LLP and Scottish LP and other issues are examined in this survey.

Scotland: WHY NOT?
Hong Kong: Comprehensive Review

Hong Kong: Comprehensive Review

This brochure dedicated to inform about business atmosphere and business facilities in the studied jurisdiction, explain the reasons of popularity of Hong Kong entities for tax-optimisation purposes. Familiarity with this brochure is the first step on a way to the possibility of carrying on successful business in stable economic conditions of Asian region with maximum benefits.

Hong Kong: Comprehensive Review
Hong Kong: Choosing Business Vehicles

Hong Kong: Choosing Business Vehicles

The present research concerns the most popular forms of business organization in Hong Kong, as well as the basic rules of their use for the purposes of breaking down the tax burden. The brochure contains a number of clarifications regarding the demand for offshore structures in Hong Kong, a minimum set of requirements for the establishment and registration procedures.

Hong Kong: Comprehensive Review
Hong Kong: Frequently Asked Questions

Hong Kong: Frequently Asked Questions

This brochure summarizes the research concerning the reasons of popularity, business opportunities, tax rates, companies and partnerships in Hong Kong. This is an interview where our manager answers frequently asked questions, appeared during the time of studying the Hong Kong jurisdiction.

Frequently Asked Questions
Business Purposes: Regular Practice

Business Purposes: Regular Practice

The brochure says on corporate and classical targets of Hong Kong enterprises, provides examples of practical use of the enterprises established in Hong Kong. Here we specify the long-term and short-term goals of business structuring, as well as the use of Hong Kong enterprises to operate as a trading company, the company, opening a representative office in China and a holding company, which owns the rights to ownership of the company in China.

Business Purposes: Regular Practice
UnitedKingdomOverallReviewBrochurePopup
HongKongOverallReviewBrochurePopup

Secrecy in the Present World

May 17, 2016

Banking Secrecy

Banking secrecy is a guarantee to you that people cannot find out the state of your financial affairs out of a simple interest.
Certain jurisdictions keep the information confidential even to the government. Switzerland, Lebanon, and the Philippines belong to such hubs having been operating undisturbed for a number of years. However, with the financial crimes spread nowadays, banking secrecy has eroded and almost vanished in lots of jurisdictions.
At present, the chances are high that most of the world’s money laundering operations take place in the United States, Germany and the UK. Still, those jurisdictions are harassing other countries, who maintain a high level of privacy and cause problems for the worldwide money laundering fighting.
To get the proper level of confidentiality with the bank account abroad, look for the jurisdiction, which is not in the scope of AEOI, TIEA, or some other information-sharing regulations.

Trusts

The Standard For Automatic Exchange of Financial Information states that the information about the trusts’ accounts belonging to the trustees should be reported to the country of residence of the latter. However, it’s usually a tax haven having no connection to the settlor or beneficiaries.
Still, under certain circumstances, the information has to be reported to the dominion of residence of the settlor, beneficiary and so on. It is, as a rule, linked to some income-generating activities which bring benefit to the shareholders.
However, trusts are in fact almost impenetrable, those ones, which do not have bank accounts, are still extremely confidential. You can avoid AEOI if your trust is incorporated in the jurisdiction following the regulations, by having bank accounts in a non-AEOI hub or creating such a structure, in which the beneficiaries will not be subject to reportable events.

Corporate Secrecy

In case your legal entity does not hold any bank account, all the details as to the beneficiaries, directors, corporate finances, and some others are not disclosed.
The data about private companies can be obtained through such information exchange mechanisms, as Tax Information Exchange Agreement. The most reputable hubs, like BVI, for instance, are now considering creating registries of companies beneficiaries, confidential to the public yet known for the government. It means the lesser level of corporate confidentiality.

Culture of Secrecy and Privacy

Certain cultures have privacy as a deeply rooted social norm, think of Switzerland, Germany, Austria, Netherlands, Sweden, Norway, Finland, and Iceland. Europeans are mostly brought up to mind their own business and keep things to themselves, the same can be seen in America as well. However, the data protection in the United States is much calmer than in Europe.
In the countries of the former USSR, the secrecy from the governments is still impossible, but the nations actually do little to meet the standards of international cooperation.

However, secrecy is not anymore guaranteed everywhere, especially the secrecy of bank account abroad. For instance, the Swiss offshore banking system has privacy deeply rooted in their social principles for hundreds of years and absolute banking confidentiality for almost 100 years as well. Most tax havens fail to boast the same deeply rooted value of secrecy, so it’s the factor to be carefully considered.

Service Providers Secrecy

It often happens to be the overlooked link in the chain. Unfortunately, service providers do not use e-mail encryption technologies, any out-of-bounds solutions or at least message encryption like PGP/GPG. For the clients’ convenience, email messages, as well as documents, are stored in normal text and on unencrypted servers. Thus, IT security is not of high importance to this industry.

Conclusion

In case you fail to critically consider all the aspects of secrecy nowadays, you may get easily confused.
Banking secrecy vanishes in recent days and may soon stop to be an effective measure to hide means from governments.
Certain hubs try to avoid AEOI regulations, but it’s unlikely that things like it will ever be canceled.
At present you can still achieve banking secrecy, using jurisdictions which are not engaged in AEOI or some other mechanisms of information sharing. You can also structure your funds in a proper manner.
Trusts, companies, and foundations remain as secretive as they were earlier. Financial institutions are now the link in which is most likely to fail in your secrecy chain.

Meet your enemy in the face and do the planning accordingly.

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