Best Places for Offshore Foundation Formation

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Best Places for Offshore Foundation Formation

Ownership IconBest Places for Offshore Foundation Formation

The offshore industry is changing drastically over the past few years. Countries that were once considered as tax havens are no longer safe for business establishments. However, there are plenty of offshore financial centers to support you with a profitable business experience. If you are hunting for best places for offshore foundation formation, the next few lines in this article will lend you a hand of help. According to experts, the country you pick for an offshore foundation should suffice the following requirements:

1)      The offshore destination should safeguard your assets.

2)      The jurisdiction must not tax on your income or profits.

3)      The financial privacy of your business venture should be respected.

According to a recent survey, Panama and Seychelles are considered as the best places for offshore foundation formation.

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Why Panama For Offshore Foundation Formation?

Panama is an independent nation that is located at the junction of Southern and Central America. It is recognized as one of the finest and longest established destinations for offshore ventures. Known for the Panama Canal and thousands of offshore companies, Panama offers consistent economic performance and scintillating privacy features. Here are few key benefits in starting an offshore foundation in Panama:

1)      Political independence distinguishes Panama from other offshore countries. Unlike its Caribbean neighbours, Panama sees very little pressure on its privacy features.

2)      Zero Tax is a wonderful feature in Panama. Offshore ventures are not expected to pay tax on business income or profits. Additionally, tax is not levied on fund transfers or sales in a Panama Offshore Foundation.

3)      Offshore foundations enjoy 100% privacy! There are no public records of beneficial owners or shareholders.

4)      Offshore foundations can nominate other professional shareholders and directors. In fact, nominees can be from other companies too!

Few other features of Panama offshore foundation formation would be minimal paperwork and plenty of bank choices.

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Why Seychelles For Offshore Foundation Formation?

Seychelles has being identified as an ideal offshore foundation jurisdiction for nearly a decade. In order to start a foundation in Seychelles, you require one of more partners.

Conversely, all foundations in Seychelles are exempt from taxes, property transfer taxes, share transfer taxes and trade taxes. These exemptions are guaranteed for 20 years.

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The Ultimate Bottom Line

There are plenty of offshore jurisdictions out there; however, Panama and Seychelles are considered as the finest options for offshore foundation formation.

BRIS GROUP will be happy to provide you with information, quotation and services.