Introduction to Tax Havens
There are many tax havens, but not all are created equally. Each has its own speciality and in some cases its own specialities.
This often encourages, as part of global tax optimization, to combine several, in order to optimize both personal and professional taxations. Many companies only became interested in tax havens after realizing that they were paying too much tax and that they needed to optimize their taxation to be more profitable or simply viable.
There is a notable development in the use of tax havens: anticipation. Indeed, more and more companies are turning to tax havens, by creating an offshore company, at the very moment of their creation, taking care to choose the most interesting jurisdiction. This is common sense, as Lord Upsohn (House of Lords, 1976) observed: “No business person with intellectual capacity will enter into business relationships on any basis other than paying the fee. smallest possible tax. “
Despite the legitimacy of tax havens, it is advisable to remain cautious about their use. You will see on the internet ads about “ready to use” offshore companies for a few pounds…Be careful about that.
In the worst case, the documents of incorporation of the offshore company will be false. The “company” will only exist in the imagination of the one who will have bought it. In the least disastrous case, the offshore company will be real but poorly declared, without the services of lawyers to register companies in different jurisdictions.
The offshore company will also not be protected by professional secrecy and will fall at the slightest control if it has committed errors. At the same time, justice will take a close interest in the beneficiaries of this offshore company…
How many taxpayers have had to deal with serious tax problems arising from the irrational use of tax havens? To avoid this, it is crucial to trust the experts when setting up your offshore company in a tax haven.