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).
Tom Azzara explains how foreign banks
and offshore companies avoid all U.S. capital gains on their stock
market trades! Really!
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.
- Isle of Man (a major institution)
- Anguilla (2 banks there) one is used by the
- Bermuda (two of oldest banking institutions in
- NEVIS - The Bank of Nevis (a small institution
with a $5,000,000 net worth).
Tom has formed 1,090 (IBC)
International Business Companies since 1991, & most of the
companies end up with this bank - for banking, investing &
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
including the Bahamas, the tiny Cayman Islands, Hong Kong and The
It makes you wonder why,
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
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 &
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
- All the largest banks in the world have offices
here (Bahamas) and in Cayman.
- U.S. judgments have to go through the local
- 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.
International tax lawyer and graduate of the NYU School of Law, whose
law firm has offices in Geneva, London (Imperial House) and the United
"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..."
John .. from Southwick Mass. wrote...
"Your book is better than (Professor)
Marshall Langer's "Practical International Tax Planning".
(over $200 a copy)
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
A lot of Americans don't
understand why offshore IBCs are so popular.
So, here are a few good
American owned service oriented
businesses, where the services are performed in the tax haven itself,
can legally avoid U.S. income
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.
TAX HAVEN OF THE WORLD (BOOK)
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