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Criteria for Selecting an Offshore Jurisdiction

The most important aspect of considering an Offshore Jurisdiction is to have the advice of an experienced planner. Here are some of the things to consider in your consultation.

Consider your personal and corporate needs in synchrony.  Both of these areas should be discussed in the needs to preserve wealth and protect assets.

• Politics of the Jurisdiction
• History of the Jurisdiction
• Government of the Jurisdiction
• Requirements of Corporations or LLCs
• Legislation Requirements and Stability
• Company Law
• Taxation
• Double Taxation
• Applicable Treaties
• Common Law, English Law
• Communications within the Country
• Legal and Accounting Infrastructure
• Banking
• Languages
• Travel (if necessary)
• Expatriation (if necessary)
• Limited Liability Protection
• Minimal Statutory Filing Requirements
• Capitalization Requirements
• Disclosure and Privacy
• Minimal Directors Liability
• Number of Institutions in the Country
• Legislation Requirements
• Special and Extra Protection of Assets
• Special and Extra Scrutiny for Disclosure
• Special and Extra incentives for Taxation

The jurisdictions around the world can be divided into two groups: Treaty jurisdictions, and Non-Treaty jurisdictions. 

Treaty Jurisdiction

Clients wishing to benefit from relief from a double tax treaty must establish a company situated in a Treaty jurisdiction. This is essential for minimum withholding tax on dividend payments and royalties from contracting states. Treaty jurisdictions also convey a non-offshore image and thus provide cosmetic appeal.

Non-Treaty Jurisdictions

This type of jurisdiction is mainly used because of the absence of corporate taxes on the company's profits and usually only requires companies to pay a fixed annual license fee.

It is important to assess the taxation implications for the business and to decide whether a treaty jurisdiction is required. Usually, a treaty jurisdiction is not required for international trade, the movement of goods or most services. However, inward investment into certain countries requires a treaty jurisdiction to minimize the impact of taxation.

If you would like more information or help in choosing a global solution, please call Global Strategic Advisors for a free 20-minute consultaion.

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