Azzara & Off Shore Investments
Thomas Azzara

       Tax Havens of the World (book) and the ..
Tax Haven Reporter (Newsletter)

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The TAX HAVEN REPORTER NEWSLETTER $200 US Yr/12 issues & you receive the ...
8th Edition of the TAX HAVENS OF THE WORLD BOOK "FREE"
(Regular Price $90 US).

  • Interested in finding out more about the world's leading tax havens and financial centers?
  • Want to learn about the U.S. tax laws governing foreign investment by U.S. taxpayers?
  • Try a 12 month subscription to the Tax Haven Reporter Newsletter ($200 for 12 issues)
  • And, receive a copy of the NEW [2003] 8th Edition of the TAX HAVENS OF THE WORLD BOOK "FREE"
  • Tax Havens of the World - Book (regular price by itself) = $90 US.
  • Trade NYSE stocks/bonds/options & commodities - TAX FREE offshore just like thousands of offshore banks do!
  • Find out how accounting firms exploit IRS Revenue-Ruling 69-70 to pass foreign source income on to U.S. beneficiaries FREE from Federal Income taxes!
  • It's totally legal to do.

Tom Azzara explains how foreign banks and offshore companies avoid all U.S. capital gains on their stock market trades! Really!

Tom lives in the Bahamas & he knows!

He works independently of banks & can provide you with bank contacts - application & information, for good banks in the following jurisdictions.

  1. Isle of Man (a major institution)
  2. Anguilla (2 banks there) one is used by the Anguilla government)
  3. Bermuda (two of oldest banking institutions in offshore world)
  4. NEVIS - The Bank of Nevis (a small institution with a $5,000,000 net worth).
  5. Tom has formed 1,090 (IBC) International Business Companies since 1991, & most of the companies end up with this bank - for banking, investing & trading.

Tom Azzara when he's not working on the newsletter, or out with a client, finds time to enjoy swimming, diving & sports fishing in the sunny 'TAX FREE' waters of the Bahamas.

The investment banking firm of Warburg, Dillion Read (on Park Ave. N.Y.) have offices in 39 foreign countries:
including the Bahamas, the tiny Cayman Islands, Hong Kong and The Channel Islands.

It makes you wonder why, doesn't it?

The list of big U.S. firms operating in the tax free havens of the Caribbean is to long to mention.

It's a fact though that most businesses that operate on the internet could be organised in the TAX FREE Bahamas (or any of the other tax havens), and legally not owe U.S. income taxes on their earnings.

The IRS taxes U.S. share holders of a foreign corporation only on the sub part F income that the off shore company earns. Profits from services performed in the Tax Haven itself are not considered sub-part F income by the IRS!

The American laws curbing the use and abuse of the offshore tax havens have been around since the Kennedy Administration, and over the last 37 years, only minor changes to the U.S. Controlled Foreign Corporation provisions under 951 to 960 have been enacted.

There are still many uses for tax havens by foreign and American investors.

  • Not long ago, Michael Jordan of the Chicago Bulls purchased the Bahamian island known as Crab Cay for $3.9 million, other well known business people from around the globe use the Bahamas as a tax haven as well.

  • Former U.S. citizen Sir John Templeton lives in Nassau. Templeton managed over $20,000,000,000 for clients worldwide. He gave up his U.S. citizenship years ago, probably to escape the USA's 55% estate tax on estates over $2.6 million dollars.

  • U.S. Treasury Secretary Nicholas F. Brady has a home in Lyford Cay.

  • There are also forty or fifty Bacardi's (the rum distillers) living in Nassau as well.

There are over 20 tax havens, covered in the book TAX HAVENS OF THE WORLD (US $90)  including, the Bahamas, Caymans, Switzerland, Vanuatu, Bermuda, Barbados, Hong Kong, Singapore, Channel Islands & The Isle of Man (famous havens used by modern British businessmen), Campione, Panama, Anguilla, Antigua, Liberia, Gibraltar, Cyprus (shipping tax haven) and little Nauru (3rd smallest nation in the world), and many more.

Also in the book you will find subjects covering Exempt Companies, International Business Corporation (IBC), Foreign Trusts, Foreign Personal Holding Companies, Exempt Shipping Companies, Exempt Offshore Banks, Exporting U.S. Products Tax FREE, the important U.S. Income Tax Treaties, and Australian & Canadian Tax Havens.

Of great importance to the American planner is a complete disclosure on How to Avoid the U.S.A.'s "Controlled Foreign Corporation" (CFC) legislation.

In Chapter 11: (FOREIGN TRUSTS) you'll find out how accounting firms exploit IRS Revenue Ruling 69-70 to pass foreign source income onward to U.S. beneficiaries FREE from Federal Income Taxes" It's legal to do if you know how.

Learn all about tens of thousands of foreign companies and trusts domiciled in no tax havens like the Bahamas and the Caymans, where American megabucks are hidden & secure.

  • Try a 12 Month Subscription to The TAX HAVEN REPORTER - Newsletter ($200 for 12 issues) and receive a FREE copy of the 8th Edition of the TAX HAVENS OF THE WORLD BOOK "FREE" [Regular Price $90 US] Click here to order.

ASSET PROTECTION TAX HAVEN

  • A secondary reason most people bank in the Bahamas and the other tax havens, is for asset protection. The IRS cannot seize, lien on or investigate your bank records here.
  • The government of the Bahamas has a bank secrecy code.
  • All the largest banks in the world have offices here (Bahamas) and in Cayman.
  • U.S. judgments have to go through the local courts.
  • Tom has never witnessed an IRS court proceeding of any type in this country.
  • U.S. lawyers have a problem too, only citizens of the Bahamas can practice law here.
  • U.S. lawyers need to hire a Bahamian law firm to pursue judgments, etc.
  • Generally speaking, foreign generated judgments are frowned upon by the authorities.

Acknowledgments and Reviews

1. International tax lawyer and graduate of the NYU School of Law, whose law firm has offices in Geneva, London (Imperial House) and the United States writes...

"I would like to repeat that I find your analysis of the Tax Code to be excellent. I enjoy each and every issue of the "Tax Haven Reporter". I commend you on your jurisprudential reasoning and treatment of international tax matters discussed in your newsletter.

Please let me know if you would be interested in receiving articles for publication dealing with other specific areas of international tax law and/or estate planning as e.g. Swiss Bank Secrecy, use of trusts, doing business in Russia..."

2. John .. from Southwick Mass. wrote...

"Your book is better than (Professor) Marshall Langer's "Practical International Tax Planning". (over $200 a copy)

3. C. Brooks a CPA from Pennsylvania writes..

"Best book on tax havens I've ever read." "I'd like to meet with you since you've taken the time and effort to pass this useful information along to me. How about being my guest on a cruise sometime in the future?"
(Captain Mike Burke, Windjammer Barefoot Cruises, Ltd. (Miami, Florida).

"I don't know where to begin describing my happiness with the purchase of "TAX HAVENS OF THE WORLD". I have devoured every word of the book already, twice. What shocks me is the detail and accuracy in your book. I have asked tax lawyers everywhere the same topics and the only answer is that..... "offshore is not possible, and I don't do any."

Great Answer. (comments from the head of a Certified Public Accounting firm, with offices in Newton, Mass., and Providence, R.I.).

A lot of Americans don't understand why offshore IBCs are so popular.

So, here are a few good examples ...

American owned service oriented businesses, where the services are performed in the tax haven itself, can legally avoid U.S. income taxes ...

Foreign individuals (called non resident alien individuals by the IRS) are subject to U.S. estate taxes on their U.S. assets (stocks, bonds, real estate) when they die, just like the American taxpayer, at the same high tax rates.

Note: Under U.S. tax law, foreign, non resident alien individuals that hold their U.S. assets in an offshore holding company (instead of in their own name) can legally avoid all U.S. estate taxes when they die.

  1. TAX HAVEN OF THE WORLD (BOOK) US$90.

  2. OR, try a 12 Mth Subscription to THE TAX HAVEN REPORTER - Newsletter ($200 US for 12 issues) & receive a copy of the 8th Edition of the 'TAX HAVENS OF THE WORLD' BOOK "FREE" (Regular Price $90 US).

Click here to order.

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Please e-mail if you have any Questions

Tom Azzara (Lawyers & Consultants)
New Providence Estate Planners, Ltd.
Nassau, Bahamas

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Tax Havens of the World