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Why Offshore Banking?

Caribbean Offshore Companies

There are several locations within the Caribbean which companies can use for their offshore asset protection. You may never have to physically visit the location of your offshore banking institution in the Caribbean as many offshore banks within the region offer access to funds via Internet, e-Mail, traditional post or via telephone through your registered agent or banking representative.

Offshore companies within the Caribbean can have many benefits including tax relief whereby the interest on your offshore investments and offshore bank accounts are paid without a tax deduction and reduction of tax liability within the country you reside. By transferring investments and savings from your country of residence to an offshore bank within the Caribbean, you will benefit from high levels of confidentiality, convenience and offshore security as well as the ability to access your offshore account and investments from anywhere in the world.

Setting up an offshore company is both a simple and legal process. Offshore banking used in the interest of asset protection in the Caribbean can be used by both individuals and companies worldwide with only limited restrictions on offshore account usage. Due to the amount of international business being conducted, it is not necessary to be a resident of the country where the offshore bank account is located.

Within the Caribbean, you can choose to start offshore banking for your offshore company in a number of locations including Nevis, The Bahamas and the British Virgin Islands. When looking at a location to open an offshore bank account, it is important to take into account the political stability and government policies of the country that the offshore bank is accountable to.

Asset protection within Nevis is a viable option for any individual or company looking to use a convenient, stable and discreet offshore bank in which to use for offshore banking. The asset protection provisions of the offshore banks within Nevis are superior when compared to other financial centres situated in offshore locations and hold many benefits with regards to dividends or distributions that have not been earned within the island. Income generated from off-island enterprises or ventures is not subject to taxation from Nevis itself and the necessity of filing annual reports or financial returns does not exist. However, income generated from any global business venture still requires the correct declarations of tax if the country you reside in, requires information on worldwide income.

The Bahamas is one of the most popular, largest and most successful offshore banking centres in the world. Offering a tax haven for many global businesses, The Bahamas is a no tax jurisdiction, has superior banking privacy laws and a wealth of knowledge offering an ever evolving banking centre. Strict international laws are followed by the government in relation to the compliance and governance of offshore tax havens, yet this has not hindered the way the banks in The Bahamas operate. With attractive incentives aimed at individuals and companies looking to invest in an offshore banking location, The Bahamas is a one of the leading offshore financial centres in the world.