Thank you for the question. There is a lot of literature on this
topic- so I tried to keep it simple and straight forward.
After surveying the literature- these are the countries that best meet
your criteria. Some will be better than others depending on which of
your standards you value most. I wasn't sure exactly what your
situation was- so I offered a number of options.
If you need clarification of my response, I will be happy to provide
it. If you need futher information on a particular country I will
attempt to find it for you.
Good luck!
------------------------------------------------------------------------------
Barbados
http://www.sovereignsociety.com/offshore1642.html
"Barbados (known as the "little England of the Caribbean") lies in the
North Atlantic Ocean north east of Venezuela and has a land area of
431 sq km. The capital is Bridgetown which is the only sea port. The
island benefits from a long tradition of political and social
stability and is fast becoming a preferred low tax destination for
international businesses, particularly in the areas of information
technology, manufacturing and financial services. The economy,
however, is still dominated by the sugar and tourism in dustries."
Business Environment
"The Barbados government focuses heavily on improving the investment
climate of Barbados and on enhancing the infrastructure to support
increasing business activity. Overall, Barbados has a stable and
well-organised business environment which includes a reasonably
diverse set of professional services. There is a wide variety of
corporate forms available for most purposes and the legislative
structure is flexible and liberal."
Taxes
"Offshore banks are subject to tax rates on banking profits on a
sliding scale, from a maximum of 2.5% to a minimum of 1%. There are no
other direct tax or capital gains tax on the profits or gains of the
bank, no taxation on distribution to a non-resident person or
anotherlicensee. No taxation is levied on a licensee, its shareholders
or transferees on the transfer of its assets or securities. There are
no estate, inheritance or similar taxes on any shares, securities or
assets of a licensee owned by a non-resident person."
Investing
"The Securities Exchange of Barbados or, Barbados Stock Exchange (BSE)
as it is now known, was established in June 1987 under the Securities
Exchange Act 1982. It was subsequently re-incorporated on August 2,
2001 simultaneously with the enactment of the Securities Act
2001-13,which repealed and replaced the 1982 Act. However the BSE
remains a privately owned non- profit organization. A Securities and
Exchange Commission has regulatory responsibility for the BSE."
Key Contacts
International Business and Financial Services Division
Ministry of Industry and International Business
Director of International Business
Upton, St. Michael
Barbados
Tel: (246) 430-2200
Fax: (246) 228-6167
E-mail: info@barbadosbusiness.gov.bb
Internet: Ministry of Economic Development
Barbados Investment and Development Corporation (BIDC)
PO Box 1250 ?Pelican House?
Princess Alice Highway
Bridgetown, Barbados,
West Indies
Tel. (246) 427 5350
Fax: (246) 426 7802
E-mail: bidc@bidc.org
Internet: www.bidc.com
Central Bank Of Barbados
PO Box 1016
Bridgetown
Barbados
Tel: (246) 436-6870
Fax: (246) 427-9559
E-mail: cbb.libr@caribsurf.com
Internet: www.centralbank.org.bb
Office of the Supervisor of Insurance
Ministry of Finance and Economic Affairs
Nicholas House, Broad Street, Bridgetown Barbados
Tel: (246) 426-3815
Fax: (246) 436-2699
E-mail: sofi@caribsurf.com
Barbados Stock Exchange Inc
1st Floor Carlisle House, Hincks St
Bridgetown, St Michael, BarbadosTel: (246)436-9871/2
Fax: (246) 429-8942
E-mail: General Manager, marlon.yarde@bse.com.bb
Internet: http://www.bse.com.bb/
List of Banks
http://www.worldoffshorebanks.com/Barbados.html
Service Providers
http://www.worldoffshorebanks.com/barbadospro.html
------------------------------------------------------------------------------------
Bahamas
http://www.sovereignsociety.com/offshore1663.html
"The Bahamas' economy relies heavily on tourism but financial services
are growing in importance. Although the Bahamas' history in providing
banking and trust services to the international financial community
can be traced back to the 1930s, its growth as a significant OFC has
been relatively recent, with most of the key legislative provisions
only being enacted over the last decade. There is a substantial
banking sector, second only to the Cayman Islands among offshore
jurisdictions with licensed banks from more than 30 countries and a
total asset base nearing $1 trillion."
Taxes
"The Bahamas levies no taxes on capital gains, corporate earnings,
personal income, sales, inheritance, or dividends. Annual government
fees are imposed on businesses and there are national insurance, stamp
duties and property taxes. Offshore operations take place through
International Business Companies or other tax-exempt forms."
Investing
"The Bahamas International Securities Exchange Limited (BISX) was
launched in May 2000. The BISX is incorporated as a private company
and is owned by 45 shareholders, including stockbrokers, banks,
investment companies, pension funds, mutual fund administrators,
corporations, and individuals. In November 2003, the BISX gained
affliate membership of the International Organsiation of Securities
Commissions(IOSCO). By the end of 2004 there were 19 domestic public
companies listed on the BISX with a market capitalisation of just over
$1.9 billion. In January 2005, the BISX reported that the BISX All
Share Price Index appreciated by 19.7% points to 1,039.4 points, a
marked rebound from the narrowed decline of 2.0% in 2003. The volume
of shares traded on the BISX in 2004 were also significantly higher,
doubling to 8 million shares in 2004 with the value higher at
$24.3million from $7.5million in 2003."
Key Contacts
The Bahamas Investment Authority
P.O. Box N-7770
West Bay Street
Nassau, The Bahamas
Tel: (242) 327-5970/4
Fax: (242) 327-5907
Internet: www.opm.gob.bs/bia.php
Bahamas Financial Services Board
Mail: P.O. Box N-1764, Nassau, Bahamas
Location: British American Insurance House, 4th Floor
Marlborough Street and Navy Lion Road
Nassau, Bahamas
Tel: (242) 326-7001 or 4
Fax: (242) 326-7007
E-mail: info@bfsb-bahamas.com
Bahamas International Securities Exchange
#8 Village Gardens
Village Road & Village Gardens
P.o. Box EE-15672
Nassau, Bahamas
Email: info@bisxbahamas.com
Tel: (242) 394-2503
Fax: (242) 323-2320
Internet: www.bisxbahamas.com
Registry of Companies
Rodney E. Bain Building
Shirley & Parliament Streets
P.O. Box N532
Nassau, N.P., The Bahamas
Tel: (242) 322-7147, (242) 322-7160
Fax: (242) 322-5553
Securities Commission of the Bahamas
3rd floor, Charlotte House
Shirley & Charlotte Streets
P.O.Box N-8347, Nassau, The Bahamas
Tel: (242) 356-6291/2
Fax: (242) 356-7530
email: secbd@batelnet.bs
Internet: www.seb.gov.bs
The Bahamas Maritime Authority
Post Office Building
P.O.Box N4679
Nassau, The Bahamas
Tel: (242) 394 3024
Fax: (242) 394 3014
email: nassau@bahamasmaritime.com
Internet: www.bahamasmaritime.com
List of Banks
http://www.worldoffshorebanks.com/Bahamas.html
Service Providers
http://www.worldoffshorebanks.com/bahamaspro.html
-------------------------------------------------------------------------------------
Guernsey
http://www.sovereignsociety.com/offshore1654.html
"As an offshore jurisdiction, Guernsey is widely recognized as a
well-regulated financial centre with very well-developed advisory and
financial infrastructure. Guernsey is the home to the offshore
operations of many of the world?s largest banks, investment, and
insurance companies (although Jersey remains by far the largest of the
British Isles offshore jurisdictions in terms of its offshore deposits
and mutual funds)."
Taxes
"The provisions of Guernsey's income tax law apply to the islands of
Guernsey, Alderney and Herm. Guernsey has no exchange controls. No
legal restrictions apply to the transfer of profits, the repatriation
of capital invested in Guernsey or the transfer of royalties and fees.
There are no capital gains or inheritance taxes."
Investing
"The Channel Islands? Stock Exchange ("CISX") was launched in Guernsey
in 1998 as a joint project with Jersey. Mutual funds make up about 85%
of listings. As of May 2005, the number of securities listed on the
Exchange had reached 1000 with a market capitalisation of around US
$30 billion through 37 members, and sponsors.
CISX is a member of the International Federation of Stock Exchanges as
a corresponding market, a member of the International Securities
Market Association and the European Securities Forum. It was approved
by the US Securities and Exchange Commission (SEC) in 2002, the UK
Inland Revenue later in the same year and the UK Financial Services
Authority (FSA) in 2004. The exchange does compete directly with the
London Stock Exchange and others around the world, but has developed
specialist niches in floating property funds, open and closed-ended
investment funds, debt, securities and special purpose vehicles."
Key Contacts
Guernsey Financial Services Commission
PO Box 128
La Plaiderie Chambers, La Plaiderie,
St Peter Port, Guernsey,
Channel Islands, GY1 3HQ
Telephone: (44) 1481 712706 / 712010
Facsimile: (44) 1481 712010
Email: info@gfsc.gg
Website: www.gfsc.gg
Guernsey Chamber of Commerce,
Suite 3, 16 Glategny Esplanade,
St Peter Port GY1 1WN
Tel: (01481) 727 483;
Fax: (01481) 710 755;
E-mail: director@chamber.guernsey.net
Internet: www.chamber.guernsey.net
List of Banks
http://www.qualisteam.com/Offshore/Guernsey/index.html
------------------------------------------------------------------------------------
The Isle of Man
http://www.sovereignsociety.com/offshore1658.html
"The Isle of Man (IOM) is an internally self-governing dependent
territory of the Crown that is not part of the United Kingdom.
IOM has a large and sophisticated financial centre with a reputation
for regulatory regimes which meet all current international standards,
but which offer a flexible and non-bureaucratic approach. As of 30
September 2004, the IOM?s financial industry consisted of
approximately 19 life insurance companies, 25 insurance managers, more
than 177 captive insurance companies, 53 licensed banks and two
licensed building societies, 82 investment business license holders
and 164 collective investment schemes."
Taxes
"The Isle of Man does not have any capital gains tax, wealth tax or
inheritance tax. The jurisdiction levies income tax, a national
insurance tax, a form of property tax and value-added tax (VAT)."
Investing
"Individuals carrying on investment business either in the Isle of Man
or through a Manx incorporated company are required to hold a licence
under the Investment Business Acts 1991 to 1993. Collective investment
schemes fall under the Financial Supervision Act 1988, which provides
for the regulation of three main classes: (1) Authorised collective
investment schemes can be sold to residents, the UK, Guernsey, Jersey,
Ireland and Japan and benefit from the fast track approval procedures
in Hong Kong; (2) Professional investor fund; (3?) Experienced
investor fund"
Key Contacts
Financial Supervision Commission
PO Box 58
Finch Hill House
Douglas, Isle of Man
IM99 1DT
Tel: supervision division 44 (0)1624 689317; enforcement division 44
(0)1624 689314; companies division 44 (0)1624 689336; companies
registry 44 (0)1624 689300; policy division 44 (0)1624 689336;
operations division 44 (0)1624 689300. Fax: 44 (0)1624 689399 for
chief executive, operations and enforcement divisions; 44 (0)1624
689398 for supervision, companies and policy divisions; 44
(0)1624-689397 for companies registry.
Email: info@fsc.gov.im
Internet: www.fsc.gov.im
Department of Trade and Industry
Illiam Dhone House
2 Circular Road
Douglas, Isle of Man
IM1 1PQ, British Isles
Tel: +44 (0)1624 685675
Fax: +44 (0)1624 685683
Email: dti@gov.im
Internet: www.gov.im/dti
Film Commission
Email: filmcomm@dti.gov.im
List of Banks
http://www.worldoffshorebanks.com/IsleofMan.html
Service Providers
http://www.worldoffshorebanks.com/isleofmanpro.html
-------------------------------------------------------------------------------
Hong Kong
http://www.sovereignsociety.com/offshore1655.html
"Hong Kong is a major international financial centre, comprising an
integrated network of institutions and markets which provide a wide
range of products and services to local and international customers
and investors."
Banking
"Hong Kong maintains a three-tier system of deposit-taking
institutions: licensed banks, restricted licence banks, deposit-taking
companies. Overseas banks may also establish local representative
offices. Hong Kong has one of the highest concentrations of banking
institutions in the world. 70 of the world's 100 largest banks have an
operation in Hong Kong. At 31 August 2005, there were 131 licensed
banks, 36 restricted licence banks, and 35 deposit-taking companies in
business. These institutions come from 37 countries. In addition,
there are 83 local representative offices of overseas banks in Hong
Kong. The external assets held by banks and deposit-taking
institutions reached US$508.1 billion (end of 2004)."
Taxes
"Corporate tax in the 2005/2006 financial year: 17.5%. Only the
profits or income arising from Hong Kong are subject to tax. Offshore
profits, capital gains, dividends and most bank deposit interest
income are exempt from tax."
Investing
"The Hong Kong Exchanges and Clearing Limited (HKEx) is the holding
company of the Stock Exchange of Hong Kong Limited (SEHK), the Hong
Kong Futures Exchange Ltd. and Hong Kong Securities Clearing Company
Ltd. The Growth Enterprise Market (GEM) is an alternative stock market
operated by the HKEx for 'high growth, high risk' businesses that do
not fulfil the requirements for listing on the main board of the
exchange. GEM is designed for professional and informed investors.
HKEx went public in June 2000."
Key Contacts
Companies Registry
Queensway Government Offices
66 Queensway
Hong Kong
Tel: 2867 2600/2867 2604
Fax: 2869 6817
Email: crenq@cr.gcn.gov.hk
Internet: www.info.gov.hk/cr/
Hong Kong Monetary Authority
30th Floor
3 Garden Road
Central, Hong Kong
Tel: (852) 2878 8196
Fax: (852) 2878 8197
E-mail: hkma@hkma.gov.hk
Internet: www.info.gov.hk/hkma/index.htm
The Securities and Futures Commission
12th Floor, Edinburgh Tower
The Landmark
15 Queen's Road Central, Hong Kong
Tel: 852-2840-9222
Fax: 852-2521-7836
E-mail: enquiry@hksfc.org.hk
Internet: www.hksfc.org.hk
Office of the Commissioner of Insurance
21st Floor, Queensway Government Offices,
66 Queensway,
Hong Kong.
Tel: (852)2867 2565
Fax: (852)2869 0252
E-mail: iamail@oci.gov.hk
Internet: www.info.gov.hk/oci/index.htm
Hong Kong Exchanges and Clearing Limited
12/F One International Finance Centre
1 Harbour View Street
Central, Hong Kong
Tel: (852) 2522 1122
Fax: (852) 2295 3106
Email: info@hkex.com.hk
Internet: www.hkex.com.hk
-------------------------------------------------------------------------------
Malta
http://www.sovereignsociety.com/offshore1662.html
"Due to its extensive network of double tax treaties with almost all
the important OECD countries, Malta is often chosen as a base by firms
needing to set up an offshore holding or investment company, or
trading subsidiary. The Maltese financial services sector has grown
significantly over the last decade and today accounts for 12% of GDP.
It is expected to contribute 25% to Malta's GDP within the next ten
years"
Taxes
"Malta has moderately high internal taxes, but offers low-tax regimes
to companies and individuals. Taxation for offshore entities is very
light, and Malta is unusual among low-tax countries in having tax
treaties with 38 other countries, including most of the major European
trading nations, and is in the process of negotiating others."
Investing
"The Malta Stock Exchange Act 1990 led to the opening of a stock
exchange towards the end of 1992. Management of the exchange is in the
hands of a Council, headed by the Chairman. Prospectus and listing
requirements are in line with EU standards. Amendments made to the
Malta Stock Exchange Act in 2002 provide for virtually the complete
removal of the Exchange?s regulatory functions in particular those
concerning admission to listing and licensing of stockbrokers; these
functions are now the responsibility of the MFSA."
Key Contacts
Borza ta' Malta (Malta Stock Exchange)
Garrison Chapel
Castille Place
Valletta CMR07
Malta
Tel: (356) 212 44051
Fax: (356) 256 96316
E-mail: borza@borzamalta.com.mt
Malta Financial Services Authority
Notabile Road
Attard BKR14
Malta
Tel: (+356) 441155
Fax: (+356) 441188
E-mail: communications@mfsa.com.mt
The Registry of Companies
(Provides services online)
Malta Financial Services Authority
Notabile Road,
Attard BKR14, Malta
Tel: (+356) 441155
Fax: (+356) 441195
E-mail: registry@mfsa.com.mt
Central Bank of Malta
Castille Place,
Valletta, CMR 01, Malta
Email: info@centralbankmalta.com
Tel: (00356) 21 247 480
Fax: (00356) 21 243 051
The Malta Development Corporation
Postal Address
P.O. Box 141 GPO 01,
Marsa, Malta
Tel: (00356) 441888
Fax: (00356) 441887
E-mail: zerafa@mdc.com.mt
Malta Maritime Authority
Maritime House
Lascaris Wharf
Valletta VLT 01
MaltaTel: (+356) 250360
Fax: (+356) 250365
E-mail: mership.malta@mma.gov.mt
List of Banks
http://www.escapeartist.com/malta/taxhavens.html
--------------------------------------------------------------------------------
Mauritius
http://www.sovereignsociety.com/offshore1666.html
"The Republic of Mauritius is an island nation in the southwest Indian
Ocean, about 900 km east of Madagascar. Mauritius has been an
independent member of the Commonwealth since 1968, and became a
republic in 1992 The business environment in Mauritius is well served
by regulated offshore banking services, a rapidly growing network of
double taxation agreements that spans the globe, a stable political
and economic environment, good infrastructure and a well educated,
multilingual workforce.
Offshore financial services were first introduced to Mauritius in
1992, when a progressive programme of comprehensive legislation was
passed to enable their development."
Taxes
"One of the major attractions of Mauritius as a base for inward
investment in several countries, especially India, China and Pakistan
is its network of double taxation treaties. Mauritius has a growing
network of double Tax Treaties with 33 countries including
Barbados,Belgium, Botswana, China, Croatia, Cyprus, France, Germany,
India, Indonesia, Italy, Kuwait, Lesotho, Luxembourg, Madagascar,
Malaysia, Mozambique, Namibia, Nepal, Oman, Pakistan, Russian
Federation, Rwanda, Senegal, Singapore, Sri Lanka, South Africa,
Swaziland, Sweden, Thailand, Uganda, United Kingdom, Zimbabwe."
Investing
"In 1989 Mauritius set up its own stock exchange under the Stock
Exchange Act 1988. The exchange is regulated by the Financial Services
Commission. The Stock Exchange of Mauritius (SEM) operates two
markets: the official market, on which securities of listed companies
are traded, and the over-the-counter (OTC) market. . In January 2005,
the SEM had 42 companies plus two mutual funds listed on the Official
Market and 78 Over-the Counter companies. Market capitalization grew
from US$55 million in 1989 to US$2.3 billion in mid-January 2005."
Key Contacts
The Financial Services Commission.
4th Floor, Harbour Front Building,
President John Kennedy Street,
Port Louis, Mauritius
Tel : (230) 2107000
Fax: (230) 2087172
Internet: www.fscmauritius.org
Companies Division
Les Bacha Building,
Listley Geoffroy Street,
Port-Louis
Mauritius
Pabx: 211-2531, 211-4460
Hotline: 208-4539
Fax: 208-7263
e-mail: rocd@intnet.mu
Mauritius International Financial Services Centre
5th Floor, Barkly Wharf, Le Caudan Waterfront
Port Louis, Republic of Mauritius
Tel: (230) 211 83 83
Fax: (230) 208 81 60
E-mail - info @ f spamauritius.com
Internet: www.fspamauritius.com
Ministry of Industry, Small & Medium Enterprises, Commerce & Cooperatives
(COMMERCE DIVISION)
8 th Floor, Medcor, Air Mauritius Centre,
John Kennedy Street,
Port Louis,
Republic of Mauritius
Tel: (230) 210-3774 / 75 / 76
Fax: (230) 201-3289
E-mail : mincom@mail.gov.mu
The Stock Exchange of Mauritius
Mr. Sunil Benimadhu
Chief Executive
4th Floor, One Cathedral Square Building
16, Jules Koenig Street
Port Louis
Republic of Mauritius
E-mail: stxbeni@intnet.mu
Tel: (230) 212 9541
Fax: (230) 208 8409
Internet: www.semdex.com
List of Banks
http://www.qualisteam.com/Offshore/Mauritius/index.html
------------------------------------------------------------------------------------
Additional Resources:
Offshore Bank Wikipedia Entry
http://en.wikipedia.org/wiki/Offshore_bank
Introduction to Offshore Banking
http://www.turtletrader.com/oig.html
Offshore Banking Advice
http://www.offshorebiz.com/
------------------------------------------------------------------------------------
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