The use of International Financial Centers is considered by sophisticated global money managers to be a safe and reasonable way to conduct business. And, every day more Americans are discovering the benefits of taking at least a part of their assets offshore. Americans move money to offshore jurisdictions in order to better protect their assets, improve their privacy, increase rates of return, and reduce risks, taxes, and costs. People of moderate net worth are increasingly using the resources of offshore trust companies to form and operate corporations based in attractive jurisdictions and take advantage of opportunities unavailable in their home country. The offshore industry is a huge growth business with an estimated 130,000 new offshore corporations formed in the Caribbean during 1998 alone.
Privacy is often integral to risk planning.
Offshore clients typically seek confidentiality in their affairs to protect business strategies. An offshore jurisdiction such as Nevis, West Indies offers the best asset protection resources available and a Nevis IBC is not required to file any form of annual returns. Corporate records for a Nevis IBC may be kept anywhere in the world and annual general meetings or meetings of the Board of Directors are NOT required to be held in Nevis. IBC s pay no income taxes, social security taxes, capital gain taxes, withholding taxes, stamp, or duty taxes in Nevis or in many other qualified offshore jurisdictions. There are no gift, death, estate, dividend, distribution, or inheritance taxes in Nevis.