Get Outta Here

Making A Final Decision

The offshore world is surrounded by its own mystique and language, and for some, this aura can be disconcerting. It's worth remembering, however, that the real differences between an offshore jurisdiction and one considered to be "onshore" are few. Any entrepreneur who has at least a reasonable grasp of his or her domestic business practices is ready to begin navigating the world of international financial centers-provided they're based within the jurisdiciction of British Commonwealth.

Forming a corporation offshore and properly structuring all of its activities will assure an individual increas-ed privacy and greatly improved asset protection. And, assuming you're able to implement one simple tax benefit, it might easily pay for the entire process and will likely put you on the trail of huge savings in the future. Once you have your offshore business in place, there are countless other options to not only increase your asset base, but earn even greater returns, enjoy tax-deductible offshore travel, and more. The decision to utilize a licensed trust company to form and operate an offshore corporation is easy to implement, and the costs are generally very reasonable. However, keep in mind that if tax avoidance is the only-or primary-motivation for going offshore, expect to run into some obstacles. But if your goals are to access new markets, take advantage of business and investment opportunities that are unavailable at home, regain your privacy and protect your assets from frivolous and predatory litigation, use of an offshore corporation can reap extraordinary benefits. If you're truly entrepreneurial at heart, this option may be the right one for you.

Next Step

  • For a referral to an informed tax attorney or CPA trained in offshore matters, call (503) 647-7730.
  • For more details about the offshore haven of Nevis, contact Agatha Jeffers-Gooden, director of Nevis Financial Services for the Nevis Island Administration. Jeffers-Gooden is a citizen of the United States, St. Kitts and Nevis and a CPA who now lives in Nevis, and frequently acts as a goodwill ambassador to many of the world's financial centers can be reached at (869) 469-1469.
  • To get a referral to a consultant, call Nevis American Trust at (869) 469-1606 or Caribbean Corporate Services at (869) 466-3794.

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This article was originally published in the July 2000 print edition of Entrepreneur with the headline: Get Outta Here.

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