Offshore Myths and Facts

As introduction, we are going to describe how it works the offshore industry, step by step, why is very important in the world and how you can take a look around it from this site. We want you to know first, in Offshore industry there are too many factors involved in the choice of the offshore solution most trustworthy for the customer . Before that , one of the best parts of this industry is the myths generated, let's go ahead and look some of them.

Panama Offshore fact: Is it true that offshore industry controls more than the half of the bank industry in the world?

Yes, it is. According some experts, between Switzerland, Cayman Island, BVI, and other Offshore Financial Centers including Panama combine together control more than the half of the money of the world and it is for Offshore purposes. See more inside our Directory.

Panama Offshore Tax fact: Is it true that many 500 fortune use offshore tax haven to cover expenses to avoid taxes?

No, not at all. The offshore outsourcing is one of the best way to save money, for instance big companies such as DELL Inc, SPRINT, NEXTEL, AT&T, DIRECT TV, etc, are using offshore outsourcing services and this is not a way to avoid pay taxes, it is a way to minimize expenses. A recent study by the McKinsey Global Institute proved that every dollar spent on a business process outsourced, the U.S. economy get at least $1.12. The biggest part goes to the employer (58 cents).


Panama Offshore regulation fact: Is it true that offshore regulations protect the terrorism?

No, it is not. In every reliable offshore jurisdiction is a major crime protect terrorism, however you can tell me, yes I know, but How do we know this truly happen?, Every customer need to complete due diligence in order to access offshore services, there is some cases that somebody else complete the due diligence, but that is out of the question. It is not a secret that September, 11th's implicated received the money in United States. The regulations exist.

Panama Offshore relationship with the US fact: Is it true if the US Government find out that a US citizen owns an offshore structure he most likely will go to jail?

No, it is not true. If US government find out that your are deliberately avoiding taxes that means you are not declaring anything to the Internal Revenue Services or if your are in money laundering you will be in jail. But if you are diversificating your invest that is not a crime. What will happen if you buy a private interest foundation in Panama with a nominee services with your kids as beneficiaries and your as administrator, it is crime, no it's not. The US history is clear generally when IRS put somebody in jail is a recognize drug dealer or a notorious crime organized member.

Offshore fact: Is it true that you can't send money to an offshore jurisdiction because your government will investigate you?

Somewhat, it depends. If you send more than 9,999.00 you need to fill out an IRS form and probably you will be investigated a little bit, you need to prove the origin of the money, as well you need to declare the purpose of this transaction. The best way to transfer that amount of money is making business or investment, Real Estate investment by loans, or simply send it because you will receive more interest in an offshore bank then your domestic banks.

Panama Offshore fact: Is it true that I need to give somebody else my money to protect it in an offshore jurisdiction?

No, it's not. if you give away your money to a trustee without any legal document you will be an idiot, nobody do that. I see some offshore critics sites, they said if you transfer some money to an offshore account, its a matter of time the offshore provider will take your money, because you have to denied this money is yours because it will be a tax crime. This is absolutely false, I am going to give you an example, if you purchase an offshore corporation with an offshore bank account, you will get the control of the company and the control of the bank account, you can sign the book check as an administrator a reliable offshore jurisdiction never will tell the US or any Government, you must to pay anyway the income taxes as a person and you are going to be able to be a part of the payroll. If for any reason you don't want to sign the check book you will get a letter that the money is yours.
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