Tax havens

The main feature of an offshore jurisdiction is a tax policy favorable to foreign investment. But it is far from the only one. There are several additional features that make a country to pass from being considered a simple low-tax country to a real tax haven.

1. Personal data of owners and shareholders of companies are not listed in public records, or the use of formal representatives (called nominees) is allowed.
2. There are strict rules on bank secrecy. Data about account holders are only available to the authorities if there is evidence of serious crimes such as terrorism or drug trafficking.
3. Signing treaties with other countries involving exchanges of banking or tax information is avoided. Although this situation is changing in recent years.
4. Stability and monetary policy are promoted. Who would invest in a place with continuous coups d'état, wars or rampant inflation?
5. They have an excellent range of legal, accounting and tax advice services.
6. They often have good tourist and transportation infrastructure.

Countries such as Switzerland, Cyprus and Latvia, for example, have been highlighted for their strict bank secrecy laws. Another example is Ireland, which offers significant tax benefits for artists (writers, singers…).http://www.taxhavensguide.com/offshore.php