Hong Kong Company Formation And Bank Account

Bermuda features a zero percent corporate tax rate, as well as no personal income tax rate. Due to the lack of corporate taxes, multinational companies have raked in huge amounts of money in Bermuda.(2.) Netherlands:The most popular tax haven among the Fortune 500 is the Netherlands, with more than half of the Fortune 500 reporting at least one subsidiary there. Oxfam's list of the worst corporate tax havens placed this Benelux country at No.3.

National governments often use tax incentives to lure businesses to invest in their country. However, far too often tax incentives have been found to be ineffective, inefficient and costly, according to Oxfam.(3.) Luxembourg: This tiny EU member state remains a center of relaxed fiscal regulation through which multinationals are helped to avoid paying taxes. It's the leading banking center in the Euro zone, with 143 banks that manage assets of around 800 billion dollars.Pros: In Luxembourg, disclosure of professional secrecy may be punished with imprisonment. Asides from that, many Offshore Trust Business Development In Hong Kong international corporations choose Luxembourg as location for their headquarters and logistics centers, due to low taxes and excellent European location.Cons: Tax exemptions on intellectual property rights may come up to 80% in Luxembourg, which is why many companies choose to manage their IP rights from here. However, it's important to note that the tax exemption applies only to intellectual property rights instituted after December 31 2007.(4.) Cayman Islands: Assets of 1.4 trillion dollars are managed through the banks in this country right now. Being a British territory, which has 200 banks and more than 95,000 companies registered, the Cayman Islands is the world leader in hosting investment funds and the second country in the world where captive insurance companies are registered (designed to ensure the assets of a parent company having another object of activity). Over half of GDP is provided by the Cayman Islands financial services sector.Pros: The Cayman Islands is one of the few countries or territories in which the law allows companies to be formed and manage assets without paying tax. This is considered legal and it's not seen as a strategy to avoid taxes.Cons: The tax benefits for incorporating in the Cayman Islands exists mainly for companies who are doing business in several countries, in order to avoid the hassle of dealing with various taxation systems.(5.) Singapore:Strategically located, the Republic of Singapore has a reputation as a financial center that's really attractive to "offshore" funds of Asian companies and entrepreneurs.Pros: Legislation on the confidentiality of banking information entered into force in 2001 and since then, the electrifying city-state is recognized by the strictness with which it implements that law. And Singapore does not waive these rules, in spite of pressure from foreign governments.Cons: Singapore is not a country used by wealthy individuals seeking important tax benefits, as most countries from this region offer a relaxed tax regime.(6.) Channel Islands:Located between England and France, the Channel Islands host hundreds of international corporate subsidiaries.The Channel Islands consist of two British Crown dependencies:

The Bailiwick of Jersey, consisting of Jersey

The Bailiwick of Guernsey, consisting of three separate jurisdictions: Guernsey, Alderney and Sark