A recent survey has revealed that over 95% of tax-payers and business owners throughout the world may have no knowledge whatsoever of the tax to be saved, deferred, and legally avoided, and other benefits to be enjoyed, by "going offshore".
    
And it is not just the rich who are beginning to see the advantages.

Research conducted by Expatriate Financial, shows that both individuals and businesses could be paying in excess of 50 per cent more tax than necessary - despite the fact that an estimated 62 per cent of the world's money actually goes through offshore centres.

Interviews with qualified international financial advisers revealed that most taxpayers did not seek specialist tax advice in order to pay less tax. Often the advice given by their accountants did not even touch upon the tax savings to be enjoyed by registering an Offshore Trust or International Business Corporation (IBC) and thereby protecting their assets, income and estates from taxation, perfectly legally. This is surprising.

However there are signs of a change in attitude. The larger legal and accountancy firms and specialist companies offering advice on international offshore financial centres are bringing about a new thinking in the offshore market so often associated with criminal
activity.

The aura of mystery surrounding these centres has disappeared to the point where they are now recognised as an essential part of the world's financial system. In the past there has simply been a general lack of knowledge, with people over-taxed and under-informed.

For instance the major banks have had offshore brands for decades.     Entrepreneurs such as Richard Branson have saved millions in tax by using offshore tax strategies. In 1992 he saved $348 million from tax by putting the proceeds from the sale of Virgin Music in an offshore trust. Virgin Mobile is also held in an IBC in a trust in his name.     All the multi-national companies have their own offshore tax havens. The super-rich of most countries have also employed offshore tactics for generations to protect inheritances. These facilities which are relatively inexpensive and easy to arrange, are now available to more ordinary individuals and businesses with assets to protect or tax
to defer, or legally avoid.    

The survey also brought out the fact that today's society, with its multi-national, globally-spread family and business situations, plus the attendant complexities of residence, domicile, divorce and inheritance, creates an increasing need for specialist advice on offshore arrangements for both individuals and commercial operations.

Expatriate Financial has published a book “How to protect Your Assets” which explains in depth the facets of offshore trusts and companies and how ordinary - and extraordinary – people can get the best out of the tax-saving possibilities for business and personal purposes, regardless of the value of assets, nationality, country of residence or domicile.

A free introduction to the book can be obtained from: www.offshoretrustbook.com
                                                                               
Press enquiries to:
Expatriate Financial e-mail protected from spam bots

Note: Research carried out globally in spring/summer, 2004, both by personal contact, telephone & email poll of international financial advisers.