Saturday, April 6, 2013

Offshore zones and the history of creation


Offshore zones and the history of creation
Territory with a specific tax system, guaranteeing certain benefits to foreign entrepreneurs, there were a few thousand years ago. Thus, the island of Delos - the capital Delian League - was the first area of ​​trade for Phoenician merchants who want to avoid the financial oppression of the many taxes and duties.
A similar system of taxation also existed in the medieval Italian city of Livorno and Trieste and Yugoslavia - in the city of Sibenik. These areas are the first offshore zones, which are actively conducted international trade. Currently, these areas already exist in many European and American countries.

The first offshore in the modern sense appeared in Switzerland. It was here that the first law was passed, which require financial institutions to guarantee the privacy of customers' bank accounts. Another major offshore zone formed in the thirties of the 20th century in the Netherlands. For British taxpayers appearance territories with special tax became relevant in 60 years - a period of sharp increases in tax rates. As the offshore areas were then British colonies, and some dependent state.

Russian business offshore companies have long been a conduit for money laundering and capital flight. Especially popular among Russian businessmen enjoyed Cyprus, which joined the EU before was the largest state-transporter semi-criminal money.

Modern offshore - an area where the law allows companies with foreign capital not only to do business in complete privacy, but also to optimize the taxation of business. To combat the so-called "black" offshore, the international community has set up special groups and organizations involved in the regulatory control of this business. Because of this, offshore now becoming civilized and legitimate business-oriented areas, which are waging a successful business activities not only major trading and manufacturing company, but also the private sector.

3 comments:

  1. Nice post. There are many offshore jurisdiction today. Every jurisdiction has own suit of regulations and benefit set. But all follow the common motive of providing tax relief to the financial investors and managing there funds by opening Offshore Bank Account for them.

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  2. yup i also agree that financial investors have their own tax relief...
    UAE offshore company
    dubai offshore companies

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