Offshore and legal services
Making business offshore: legal solutions to reset the tax wedge
Have you ever thought about how to do business offshore can transform your company? With the right legal offshore solutions , it is possible to break down the tax wedge to zero , maximize profits and protect your assets. Offshore jurisdictions offer unique advantages: low or null taxes, financial privacy and access to global markets. In today's globalized world, more and more entrepreneurs and investors seek offshore solutions to optimize taxation and increase the profitability of their business. The creation of an offshore company not only allows you to reduce the tax wedge, but also offers advantages in terms of property protection and confidentiality. However, it is essential to follow legal strategies to avoid problems with the tax authorities.
What does it mean to do business offshore?
An offshore structure refers to a company recorded in a foreign jurisdiction that offers tax and regulatory advantages. Some of the main benefits include:
- Zero or low on corporate incomes
- Protection of assets against legal actions and creditors
- Confidentiality and company privacy
- Ease of management and less bureaucracy
Why choose the offshore business?
- Tax reduction : countries such as Panama, Seychelles or Belize offer advantageous tax regimes, with income taxes of zero for offshore companies.
- Asset protection : offshore structures protect your heritage from disputes or legal claims.
- Privacy : Offshore jurisdictions guarantee confidentiality, without the obligation to publish the names of the owners.
- Access to global markets : operating offshore allows you to expand your business internationally.
Tax havens and offshore companies
Tax paradises are the offices where anonymous companies open, and they are the offices of the public registers of the companies. In tax havens, you will hardly find a really public public register. In reality they allow you to know the name of the public domain company, but everything else is jealously guarded as an information classified and not available to the public or to judicial authorities. In fact, tax havens are the destinations par excellence for the search for true tax and personal privacy.
In addition to an offshore company, you will need to open an offshore account. The offshore bank account is an account opened in a bank far from Europe, which if opened legally and with the right requirements (have an appropriate tax residency and a suitable offshore company), does not transmit information to the taxman and preserves the privacy of the transactions and of the customer. Opening an account in offshore banks therefore becomes essential if you want to be able to operate an anonymous offshore company. The tax residency and tax domicile of both the offshore company and its beneficiary need not necessarily be in the same offshore country. Operating an offshore business basically means two things:
Obtaining a residence and personal tax domicile in a country with territorial taxation (such as Panama or Paraguay )
Open an offshore bank account at one of the many offshore banks we work with
Finally, it should be strongly emphasized that the European, English, and in particular the Dutch, Swiss, Bulgarian, Slovenian, or Cyprus and Malta companies are not offshore. All these countries are not tax havens for an Italian or a European. Legally they are considered onshore not offshore companies.
Through our website you can take advantage of all these and many other offshore services. Contact us.
Poem or Place of Effective Management
Studio Panama Italia has been operating offshore services such as the opening of offshore companies with an offshore account for years and has dedicated its greatest efforts to offering a high degree of product and service for every economic and working availability. Operating Offshore means laying the foundations in one or more jurisdictions with preferential taxation and territorial taxation, which provide for the incorporation of offshore companies remotely, without the physical presence on site, which can often be single-directed, therefore with only one director, and may also have only one shareholder, often the same director. Territorial taxation is a type of privileged taxation available only in a few specific countries, such as Panama and Paraguay for natural and legal persons and in other offshore countries only through corporate incorporation. Through appropriate techniques it is possible to evade or evade the POEM, or Place of Effective management. The POEM or Place of Effective Management is the place of effective management or the place where a company is effectively managed and controlled or the place where decision-making takes place at the highest level on important policies essential to the management of a company. The POEM or Place of Effective management does not necessarily have to coincide with the place of incorporation. The offshore company is the basis, together with the tax residence, to operate easily and legally tax free, also evading the POEM thanks to the use of new technologies. In fact, a prerogative for the POEM to be valid is to determine which is the real place where decisions on the management of a company, whether offshore or onshore, are needed.
Article 4, paragraph 3 of the OECD Model Convention says
“if, under the provisions of paragraph 1, a person other than an individual is a resident of both Contracting States, then he shall be deemed to be a resident only of the State in which his place of effective management is situated”.
Poem, "anxiety from hyper evaluation of risk"
The situation changes and paradoxically becomes in favor of those who operate these companies remotely thanks to the feasibility sanctioned in the deed of incorporation of the same company, of being able to make decisions at the highest levels (senior members, CEO, managers, directors) from abroad, via telephone, skype or any virtual means. It therefore goes without saying that the POEM is not in reality a serious problem to which importance should be given, being able to take advantage of a vast range of means to remedy local managerial skills. For example , being shareholders of a company but not appearing in the management of the same means that management can be bypassed and given to external nominees , deliberately outside the nation that does not want to be defined as POEM . This bypassing the Place of Effective Management or POEM is among many, one of the many ways to take advantage of an offshore company in defiance of the ridiculous OECD rules.
Territorial taxation in offshore regimes
Territorial taxation allows you to pay zero taxes in the new country where you have obtained your residence, for example in Panama; if it does not receive earnings and payments from other residents of that country. Offshore companies are the basis of all transnational operations. Opening an offshore company is legal, transparent and permitted by Italian and international law. Opening an offshore company allows you to dilute your liability, protect both tangible and intangible assets, create an estate, cover yourself with advantageous international insurance, open offshore accounts with bank secrecy and use your offshore company as an international holding company. Many jurisdictions permit the adoption of nomenees or figureheads on the board of directors of an offshore company. Opening a foreign company in these jurisdictions is highly recommended thanks to the clear and simple rules, often derived from the British Common Law, and the absolute anonymity of the Public Corporate Registers. In particular, Nevis companies and Cook Islands offshore companies are particularly popular in this arena. In case you decide for other jurisdictions, there are anonymous companies in Panama that adopt the Civil Law or Civil Law of Roman origin. But what is an offshore company? The offshore company is a company registered in a country far from Europe, which allows you to avoid taxes and therefore pay zero taxes on earnings when they operate in a different country from the one in which they were opened. American LLCs are also to be considered offshore companies.
Opening an anonymous offshore company
Anonymous companies represent about 70% of the companies used in the world to manage, open and operate transnational businesses. Conducting business operations through a shell company therefore; it is the first option for any manager or start upper to start taking advantage of competitors
Offshore company meaning
An offshore company is understood to mean a company opened in a country far from one's place of residence and outside Europe, which operates in countries other than the country of incorporation itself. Often and almost always, he manages to evade up to 100% of the tax burden relating to business conduct in one or more specific territories. Laws, treaties, TIEAs, DTAs, specific KYCs, different AMLs depending on whether under Fincen, FATCA, or European management, affect positively or negatively, dilute or not the limited liability, reduce or not the advantages described, reduce or increase the privacy obtained and perceived, expand or not the credit resources that can be requested from specific institutes or public institutions, allow or not to participate in public tenders or to receive or not funds for various purposes. The variability depends on the specific contexts, on the tax residence of the member(s) of the directive council, the shareholder committee, the managers or members, etc. An objective assessment, and an ideal structuring of your foreign company with account, must plausibly be preceded by a comprehensive study of your situation, examining the data and the core business, and finally expressing a legal opinion on how an incorporation should be legally approached company tailored to your real needs. We therefore ask you to be particularly mature in choosing one of our paid consultancies on what to do,
Offshore company benefits
The incorporation of an offshore company brings innumerable advantages in terms of privacy, secrecy, anonymity of one's identity, protection from seizures, both physical (hiding behind an anonymous company does not risk being the victim of kidnappers, mafias, the underworld and organizations dedicated to kidnapping and extortion), and judicial, (preventive active seizures or in the event of obvious liability in cases of professional malpractice, divorce, damage to third parties). The incorporation of an anonymous company also allows you to operate with DTAs globally, take advantage of TIEAs, obtain bank credits and bank guarantees on international and offshore banks. The advantages of working with a foreign company are not limited to the listed ones, as there is also a long corporate jurisprudence that adapts to multiple situations and which depend on the chosen country. A good rule is to understand that not all companies are the same.
Offshore Company in Italy
Offshore companies in Italy operate regularly and are legally accepted. It is estimated that there are around 21,000 anonymous companies operating legally in Italy. It is clearly necessary to provide the company with a tax code and to carry out due diligence on the final beneficiary, relatively invalidating the benefits that can be obtained from operating abroad on abroad with an anonymous foreign company.
Offshore Cost Company
On average it depends on the place and on the added features such as front names, translations and apostilles, endorsements, etc. It starts from 1250 euros for a basic company. Contact us about it
Legal strategies to break down the tax wedge
Open an offshore company with a holding structure
The holding offshore companies allow you to centralize profits by avoiding double taxation. This model is often used by large companies to optimize income taxes.
Tax residence in a country with a subsidized taxation
Transferring the tax residence to a country whose legislation is clear and totally known by your country of origin (Italy, Spain, USA) with a favorable taxation is a common strategy among digital entrepreneurs. Some famous and certain options include:
- Panama
- Portugal (NHR Program)
- Paraguay
Use of offshore bank accounts
An offshore bank account allows you to operate globally with greater privacy and reduced restrictions on international transactions.
Cryptocurrencies and decentralized financial solutions
Cryptocurrencies alternative to reduce tax wedge thanks to the decentralization and absence of banking intermediaries.
Offshore regulations and risks: how to stay in legality
legal tax planning strategies . Some key points include:
- Declare offshore income correctly to avoid tax evasion accusations if you live in a country where it is mandatory to do so
- Avoid illegal tax evasion schemes that can lead to sanctions.
- Consult tax and legal experts specialized in international law.
Here are three official external links that provide information on the regulations relating to offshore companies and the lists of "black list" countries (or gray/black lists) in the tax field:
OECD-Organization for Economic Co-Operation and Development
- Link : Oecd Tax Transparency
- Description : Oecd is an international organization that promotes tax transparency and fights tax evasion. Here you will find detailed information on international regulations, tax standards and lists of non -cooperative countries.
EU List of Non-Cooperative Jurisdictions for Tax Purposes
- Link : Eu Tax Transparency
- Description : The European Commission regularly publishes an updated list of the countries considered "non -cooperative" in tax matters. This is an official reference for European regulations and offshore jurisdictions.
Fatf - Financial Action Task Force
- Link : Fatf High-Risk Jurisdictions
- Description : Fatf is an intergovernmental organization that fights money laundering and terrorist financing. Publish a list of high -risk jurisdictions, useful for understanding international regulations and restrictions related to offshore companies.
These links will provide you official and updated information on international regulations and the lists of the countries considered at risk or non -cooperative in the tax field.
