Quote:
Originally Posted by Bugatti
I paying taxes and I ve got to know!!!  |
If you are from the US, you don´t have to look too far: US Virgin Islands
1. There are three types of entities that can be established in the USVI which are either
fully or partially exempt from USVI taxes and U.S. federal income taxes. One type of entity is a USVI Corporation
2. These companies are fully exempt from most local taxes and receive a 90% exemption from USVI income taxes.
3. Another tax free entity is a USVI foreign sales corporation. Thousands of USVI FSCs have been set up by U.S. exporters as a means to reduce U.S. federal income taxes on their export sales by about 15%.
4.USVI exempt companies are commonly used as holding companies for portfolio investments, for the ownership of aircraft that are registered with the FAA, or as captive insurance companies.
This program was established by Congress in 1984. More Sales corporations have been established in the U.S. Virgin Islands than in any other jurisdiction in the world. It keeps people from going offshore and keeps them in US jurisdiction for protection.
licensed USVI management companies generally have offices in the United States mainland as well. So no, they don´t have to live in the Virgin islands.
The USVI Corporation can repatriate income back to its parent corporation in US without paying corporate taxes.
The USVI redomiciliation statute can be used to move a tax-free company from another jurisdiction into the USVI.
For foreign persons, even more generous exemptions are available through the use of the third type of tax-free entity: a USVI exempt company.
The USVI is the only jurisdiction in the world where a non-U.S. person can establish a tax-free entity under the U.S. flag. Can you imagine the kind of business banks there rack up?
