Why Tax Havens

offshore tax solutions in havens

Tax havens may have once been evocative of a James Bond lifestyle and shady goings on. Today they are a legitimate and commonly used vehicle to best achieve a number of financial goals for ordinary individuals, especially British expatriates interested in achieving foreign tax bonuses.

Businesses involved with international import/export, marketing and media, shipping and manufacturing have found substantial cost savings from using offshore tax accounts and have often, most visibly from online gaming and spread betting companies, passed these savings onto the customer.

So, both businesses and consumers, via lower costs, can benefit from companies being based in tax havens. How about your personal wealth?

Tax havens are so-called as they have traditionally been a haven for wealth. Thus, banks and offshore financial services based there have built their reputations by means of a long history of providing products and services with their customers in mind. Let’s not forget that there are many banks and financial institutions, in many tax havens, all competing for your money. Service tends to be excellent, and products really are tailored for an individual’s needs.

There are many other reasons why tax havens exist. Confidentiality laws are stringent, access to international markets is easy and you may find it beneficial to bank in more than one currency. Security of your money is generally excellent since these banks have more of a niche market, and aren’t so heavily leveraged as many lending banks on the high street.