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Switzerland likes to call itself 'the most European country', yet it has stayed outside the European Union since Charlemagne. However two sets of 'bilateral agreements' are gradually bringing Switzerland within the EU in all but name. Switzerland is said to be the world's biggest centre of private banking, with more than a third of all private wealth based there. Swiss banking assets exceed three trillion Swiss francs. Although Switzerland, an OECD member, agreed in 2000 with an OECD declaration aimed at securing information exchange, it has fought a rearguard action ever since to preserve banking secrecy. Most recently, it has...

2015

Subtropical beaches and offshore financial services comprise Bermuda's value proposition to the world, and the tiny set of islands, just 54 square kilometers overall, has done well with it. According to America's CIA Factbook, in 2004 Bermuda - officially a self-governing overseas territory of the United Kingdom - had the third highest per capita income and fourth highest per capita GDP at PPP in the world (Both close to $70,000 USD). The islands' ability to offer offshore financial services grew from its status,size and location. As a British territory its defense is the responsibility of the United Kingdom; military expenditures...

FUNDS & FUNDS SERVICES OVERVIEW - EXECUTIVE SUMMARY 2014

The Swiss bank account has long been symbolic of the banking habits of the international mobile wealthy. With top notch confidentiality regulations, and an economic climate that is among the best in the world, Switzerland aura of Fort Knox-like impregnability has more to it than just its high mountains. However since the financial crisis that image has been shaken. The US government started the trouble, suing Swiss banking giant UBS to gain access to the information of potential tax dodgers, and prompting a massive withdrawal of American clients. The EU followed on America heels pressuring the country to implement new...

ARTICLE OVERVIEW - EXECUTIVE SUMMARY 2014

Country:                                Jersey Region:                                   Channel Islands (Crown Dependency) Currency:                              Sterling (GBP) Languages:                English/French Time Zone:                 UTC Phone Code:              +44 Communications:      Excellent Jersey is an island situated off the coast of Normandy France. It has a population of circa 96,000. Jersey Although a Crown Dependency Jersey is self-governing and has a separate legal, financial and judicial system to the United Kingdom. Jersey is one of the World’s leading financial centers and has been a finance industry leader for over 50 years. Jersey offers significant simplification of tax allowing investors from multiple jurisdictions to...

CORPORATE & FIDUCIARY JURISDICTION 2015

Country:  Nevis Region:   Caribbean Currency:  East Caribbean dollar (XCD) (EC$) Languages: English Time Zone:  UTC -4 Phone Code:  +1869 Communications:  Very Good Nevis is a part of the politically independent St Kitts and Nevis Federation. Nevis has been a well-regarded International Finance Centre since 1984. Nevis enjoys a certain level of autonomy from the Federation and has introduced legislation which supports its offering of a broad range of wealth management and succession planning tools. There are many advantages of doing business in Nevis. Advantages of Nevis Independent jurisdiction Exemption from income, withholding, gift, estate and succession taxes Stable political environment...

CORPORATE & FIDUCIARY JURISDICTION 2019

Country:                                Samoa Region:                                   South Pacific Currency:                              Samoan Dollar (Tala)/US Dollar (USD/US$) Languages:                English Time Zone:                 UTC-11 Phone Code:              +685 Communications:      Good Incorporation Cost:  300 USD$ Formation Time:       24 hours Maintenance cost:     NIL Samoa, which comprises two large islands and seven smaller isles, is situated in the centre of the Southern Pacific Ocean, approximately equidistant between Honolulu and Sydney and immediately east of the International Date Line. The Islands have a total land area of approximately 2,830 sq. km. Five of the islands are uninhabited. The administrative and commercial centre is situated...

2020

What are the key advantages of your jurisdiction in terms of privacy & asset protection for a Chinese HNWI or Family (etc.) looking to succeed their assets to the next generation? Depends on states but South Dakota offers zero state income tax, confidentiality and no FATCA reporting. In terms of cost, how is the cost of a setting up a trust/foundation in your jurisdiction compare to other jurisdictions? If it’s more expensive, what is the additional value that a client receives for this? South Dakota is very reasonable. Trust establishment and renewal fees are flat $3,500 USD per year and...

CORPORATE & FIDUCIARY JURISDICTION 2015

Country:                                Samoa Region:                                   South Pacific Currency:                              Samoan Dollar (Tala)/US Dollar (USD/US$) Languages:                English Time Zone:                 UTC-11 Phone Code:              +685 Communications:      Good Incorporation Cost:  300 USD$ Formation Time:       24 hours Maintenance cost:     NIL Samoa, which comprises two large islands and seven smaller isles, is situated in the centre of the Southern Pacific Ocean, approximately equidistant between Honolulu and Sydney and immediately east of the International Date Line. The Islands have a total land area of approximately 2,830 sq. km. Five of the islands are uninhabited. The administrative and commercial centre is situated...

CORPORATE & FIDUCIARY JURISDICTION 2019