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April 21, 2021 at 8:03 am #1760chandahig406Guest
We return to the question of why you need an IBC.
In the first place, the monitoring and recording of all communications by certain developed nations means that there is no longer anything like secrecy today. However, there is still the advantage of privacy. An IBC is an excellent vehicle for keeping your business out of the eyes of nosy neighbours.
In litigious societies where people would sue you at the drop of a pin if they suspect that you have deep pockets, it offers excellent protection. If you are you looking for more info in regards to personal injury lawyers of Edmonton visit our own web-site. If your funds and investments are owned by an IBC, someone wishing to sue you may need to travel to the offshore jurisdiction, pay for the round trip ticket, hotel accommodation and food for an uncertain period of time and deal with a legal system that may be quite different from the one at home.
These are often enough to dissuade casual litigants who do not have deep pockets themselves.
A famous judge (Judge Learned Hand) has gone on record as saying that everyone has the duty of paying no more taxes than is legally necessary. What this means is that while tax evasion is illegal, tax avoidance is not.
In recent times, however, there are those in a few countries who would have you think that tax avoidance is unpatriotic. But such sentiments do not seem to dissuade some big corporations in countries like Canada where they are finding ways to reduce their taxes to rates that are lower than what middle class people pay.
While we are on the subject of taxes, it is our opinion that citizens and residents should pay the legitimate taxes assessed against them. There are usually severe penalties for failing to do so and it makes no sense to go to jail while others enjoy your wealth.
An IBC is a great vehicle for your international investments. The return on investments from developing countries is, in many cases, much higher than ordinary investments in North America and Europe. Case in point is China which is now creating millionaires and billionaires at a faster rate than any developed country.
You can invest for capital appreciation or for income (including retirement income). Some countries tax their citizens and residents on income earned anywhere in the world. Others tax only on income earned in the country of residence, unless income earned overseas is repatriated home, at which time it becomes taxable.
Here is where your IBC will come in handy to secure your privacy and enhance your wealth. We are in the business of arranging for the formation of IBCs worldwide. We are not in the business of providing advice on investments and nothing that has been said in this article should be construed as investment advice.