INCORPORATING OFFSHORE

OFFSHORE INCORPORATION SERVICES

FREQUENTLY ASKED QUESTIONS

Do Any Regulations Forbid Foreign Business Or Banking?
Do I Have To Travel to "Go Offshore"?
What Tax Haven Is The Best to Form an IBC In?
Why Does Belize Receive High Recommendation?
What Is An Acceptable Name for An IBC?
Is Offshore Banking Safe?
Can I Bank Online Offshore?
Who Controls The Offshore Accounts?
How Do I Bring Money Back From Offshore?

Do Any Regulations Forbid Foreign Business Or Banking?
Absolutely not. The U.S. and Canada encourage international trade and investment. As such, there are virtually no regulations forbidding citizens from doing business or having bank accounts in other countries. Should the U.S. or Canada ever forbid foreign banking or investing, international trade would quickly grind to a halt. This would cripple the world economy. Therefore, neither the U.S. nor Canada will ever forbid foreign business, banking or investing. Rather, sophisticated and knowledgeable individuals and corporations all over the world have used and will continue to use offshore tools.

Do I Have To Travel To "Go Offshore"?
No. EUROFINANZZA interfaces with offshore institutions to form IBC's, open bank and brokerage accounts, forward offshore mail, etc. so that clients don't have to leave the office to go offshore.

What Tax Haven Is The Best to Form an IBC In?
There are many countries all over the world that are considered "tax havens". These jurisdictions generally have no taxes (on foreignors) and strict privacy laws. The question is not, "which is the best", but "which is the best for a particular situation". For North Americans, several factors are important. First, the tax havens under consideration must have no taxes of any kind and strictly enforced privacy laws. Next, English must be the main language, the judicial system must be based on British Common Law, the country must have a long history of political stability and must be completely independent from one's home country. Ideally, the tax haven should be geographically close to home to allow for swift travel should a client desire to visit. This narrows the field down to The Bahamas, Belize, The British Virgin Islands (BVI), Nevis and St. Kitts, and The Turks & Caicos. Each of these jurisdictions forms completely private IBC's that are authorized to do business worldwide (except in the country of incorporation). An IBC formed in one country is just as private and functional as an IBC formed in any of the others. Therefore, price becomes the final criterion. Belize, The Bahamas and The BVI (in that order) are the most reasonably priced jurisdictions. It is these three countries that EUROFINANZZA recommends to North American clients, with Belize receiving the highest recommendation. See further reasons below.

Why Does Belize Receive A High Recommendation?
Belize meets all of the requirements for a preferred tax haven for North Americans:
· Belize is an Independent Country.
· English is the main language.
· Laws are based on British Common Law.
· Belize has no currency exchange controls.
· Belize has strict privacy laws; violations are punishable by jail time and heavy fines.
· Belize has no tax treaty with Canada or the U.S.
· Belize has not signed the U.S. Mutual Legal Assistance Treaty (Belize and The BVI are the only above recommended havens that have not).
· Belize is a desirable place to visit or retire.
· Belize may be reached by air or auto (It is 2 hours south of Cancun, on the Caribbean coast).
No other jurisdiction has proven that it will back up its privacy laws as strongly as Belize. The only challenge to Belize' sovereignty came in 1995 when the Supreme Court of Belize successfully kept the country's privacy laws from being breached by the United States Securities and Exchange Commission.

What Is An Acceptable Name for An IBC?
An IBC may be named nearly any name its founder desires. There are very few restrictions. The name of an IBC must end with "Incorporated", "Limited", "Corporation" or the abbreviations "Inc.", "Corp.", or "Ltd.". Names that include "trust", "bank", "banc" or "insurance" require a government license. Other than these limitations an IBC may have virtually any name. An IBC name may include numbers and symbols.

Is Offshore Banking Safe?
Absolutely. EUROFINANZZA can recommend established, reputable, rated (by Moody's and Standard & Poors) banks that have been in existence for 100 years or more, have over $20 billion in assets and have proven themselves to be service oriented. As long as accounts are opened at a bank EUROFINANZZA endorses, an individual's or corporation's money will be safer offshore than it is onshore.

Can I Bank Online Offshore?
Yes. Some of the banks that EUROFINANZZA has relationships with have complete online banking services.

Who Controls The Offshore Accounts?
You do. The client is in complete and total control of all accounts at all times. His/her signature is the only one that appears on any bank or brokerage accounts and no one but the signor may use or access funds in the accounts.

How Do I Bring Money Back From Offshore?
There are four ways to bring money back from offshore:
1. Money may be wired directly from offshore into a domestic account.
2. Offshore banks and brokerages issue Visa/MasterCard debit cards and secured credit cards to account holders. These cards may be used to make purchases from merchants or to withdraw cash from an ATM.
3. The foreign company (IBC) or trust may purchase real estate, cars, businesses, etc. Typically, the founder/client acts as an agent of the IBC or trust to purchase assets on its behalf. By this means, assets are held under a corporate or trust name, thus helping to protect the client's privacy.
4. The client may borrow funds from the corporation or trust. The IBC or trust is a separate legal entity from an individual and may make loans to individuals or other entities.

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