Opening an offshore bank account is often referred to as tax evasion. While an offshore bank account offers a significant reduction of taxation, this argument is far from be the only attraction.
An offshore bank account may indeed be justified by very different reasons. In Switzerland, new accounts are primarily intended to protect a heritage. Banking secrecy paradise promised by the financial guarantees the utmost discretion as to the identity of the account holder, its assets and transactions. Of course, banking secrecy does not cover illegal activities, since it can be canceled by a conviction in court. But an offshore bank account protects the heritage of those who are exposed to trial litigation, and may see their entire capital sunk following a lawsuit for medical malpractice or professional misconduct.
An offshore bank account is also given a second chance to those who are afflicted with a curse bank in their country.For the moment, no harmonization on this point was not intended or international or even European level. An offshore bank account is therefore a solution for simply having access to financial services the most common.
The reputation of offshore bank accounts is not overused in tax matters. For large fortunes for example, solidarity tax on wealth represents a considerable burden, and it can be bypassed through an offshore bank account opened in French Polynesia or Belgium. For companies, offshore bank accounts are an effective solution to reduce the tax rate on profits.
An offshore bank account may indeed be justified by very different reasons. In Switzerland, new accounts are primarily intended to protect a heritage. Banking secrecy paradise promised by the financial guarantees the utmost discretion as to the identity of the account holder, its assets and transactions. Of course, banking secrecy does not cover illegal activities, since it can be canceled by a conviction in court. But an offshore bank account protects the heritage of those who are exposed to trial litigation, and may see their entire capital sunk following a lawsuit for medical malpractice or professional misconduct.
An offshore bank account is also given a second chance to those who are afflicted with a curse bank in their country.For the moment, no harmonization on this point was not intended or international or even European level. An offshore bank account is therefore a solution for simply having access to financial services the most common.
The reputation of offshore bank accounts is not overused in tax matters. For large fortunes for example, solidarity tax on wealth represents a considerable burden, and it can be bypassed through an offshore bank account opened in French Polynesia or Belgium. For companies, offshore bank accounts are an effective solution to reduce the tax rate on profits.
Posts
0 comments:
Post a Comment