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The Tax Havens A to B

Apr 24, 2008
Tax havens are attractive destinations because you can live and make money while paying little or no taxes. However some tax havens are more attractive because they also offer an appealing lifestyle at low cost.

Here are some of the world's tax havens and a little information about their regulations and lifestyle.

Andorra

This gorgeous country nestled in the Pyrenees Mountains between France and Spain is one of Europe's premier tax havens. The country imposes no taxes, it has a safe and unregulated banking system, free health care for everyone, a stable government and a huge expatriate population. This dazzling paradise is a thriving tax haven which also offers superb recreational activities.

Enjoy skiing at the world famous Pyrenees Alps which are just a hop, step and a jump from Andorra, or take a short drive to swim in the crystal clear waters of the French Riviera or the beaches of Barcelona.

Do you like to smoke and drink? Find these products in Andorra cheaper than anywhere else in Europe and enjoy no sales taxes.

Anguilla

Anguilla is a tiny country which is part of the Caribbean Islands. While this country is appealing to some as English is spoken, it differs from other tax havens as its regulatory bodies can share information with their overseas counterparts.

This therefore makes the country less appealing than other Caribbean tax havens as confidentiality isn't high priority. Lifestyle in Anguilla is also not as exciting as in other destinations, however if Lobster fishing tickles your fancy, this is one of the only things to do in this country.

Antigua and Barbuda

Antigua and Barbuda are a business person's paradise. They have an excellent reputation for tax haven banking and are located in a convenient time zone which make it an extremely attractive international business haven.

Antigua and Barbuda boast first rate services including legal and financial services and excellent banking facilities. Tax haven companies benefit from minimal bank fees, as little as 3% on gross income and they can also be exempt from taxes in regard to international trade, investment or commercial activity.

Residents enjoy paying no personal income tax or tax on capital gains. Confidentiality is of key importance in Antigua and Barbuda and severe penalties are imposed for institutions leaking information, however criminals are by no means protected. The laws in Antigua and Barbuda make it secure tax havens of international repute.

If this doesn't sound as appealing as you would like, Antigua and Barbuda recreational facilities make them a one spot haven. Located just 17km from the equator means this is one of the sunniest spots in the Caribbean. This is a paradise for those who love water activities. Or if you are looking for something other than water activities the internet gaming business is thriving.

Antilles

The Netherlands Antilles is located in the Caribbean Islands. While it is under Netherlands' rule, it has an autonomous and highly stable government with strong international business. Of its 70 banks, 50 of them are internationally owned.

This tax haven imposes different tax rates and regulations depending on your business. In 1999 policy changed in Antilles resulting in there being no difference between onshore and tax haven companies.

The best way to relax in Antilles is to take a boat and explore the beautiful coral reefs which are home to Antilles. To do your bit for the environment and take part in the campaign for the protection of these natural wonders.

Aruba

Aruba is considered a dormant tax haven haven compared to other tax havens. Once a thriving haven, today not as much activity takes place on this island in the Caribbean, with only 4000 tax haven companies located in Aruba.

However the tax haven companies located in Aruba are exempt from tax as long as both their business and their shareholders are tax haven. It might not attract as much international business as other islands, however the tax laws are attractive and international banking is welcomed.Aruba offers a peaceful lifestyle with high quality of living.

Belize

Investing in Belize can be seen as a much easier process than other tax havens. In 1990 The International Business Companies (IBC) Act was created and allowed foreigners to invest in Belize with attractive benefits.

Some of these benefits include being exempt from all income taxes and stamp duties. As part of the IBC some of the regulations meant that foreign investors are not allowed to start a banking institution, nor are they allowed own real estate in Belize.

Despite the restrictions, the rules are still considered some of the easiest to follow with good tax benefits.

Belize is not only an attractive tax haven for general investors; it is also an appealing retirement haven. What adds to its appeal as a haven is English is the official language. This is appealing to older people who are looking to retire somewhere and they are at a stage in their life when learning a second language isn't high on their list of priorities.

Belize also offers the best scuba diving in the world as it is home to the Barrier Reef off the east coast of Belize in the Caribbean Sea. The Belize Barrier Reef is the longest of its kind in the northern hemisphere and second in the world and therefore the diving is superb.

Bermuda

Bermuda is one of the more expensive tax havens in the Caribbean. The annual government fee of $1680 can act as a deterrent, even though there are no double tax treaties. While it is a more expensive island if you are looking at relocating or retiring, the tax benefits are still attractive.

Some of the benefits include paying no capital duty, and no restriction imposed on where business meetings can take place.

Bermuda has a vast array of activities to partake in. If you want an excuse to visit your invested money in Bermuda, you can also relax on the beach, have a hit of golf, enjoy bird watching, horse riding and of course sail on the Caribbean.

British Virgin Islands

The British Virgin Islands have a lower annual tax of $300, however the cost of living is still high compared to other tax havens. Registration for an account in the British Virgin Islands is relatively straight forward and can be issued quickly, thanks to the International Business Act of 1984. This act made it more enticing for foreign investors to include themselves in the British Virgin Islands.

Diving, yachting and cruising in the crystal clear waters of the Caribbean are extremely popular in the British Virgin Islands. The turquoise water with sandy beaches and the tropical climate make the Virgin Islands an attractive spot for investing.
About the Author
Ramapati Singhania specializes in creating and managing web businesses. His latest website http://www.incorporation-offshore-saves-wealth.com focuses on helping you to incorporate offshore companies in Seychelles, a tax haven near Madagascar, Mauritius, and BVI.
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