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29/07 New Lowtax Editor Column, by Kitty Miv
28/07 New PBTG Editor Column, Caroline, PBTG editor
27/07 UK Launches Raft Of Tax Consultations, Tax-News.com
26/07 Fat Tax On The Menu , Jeremy Hetherington-Gore blog entry
23/07 Sarkozy Seeks 'Fiscal Convergence' With Germany, Tax-News.com
20/07 Singapore Base For Tuvalu OIFC, Tax-News.com
19/07 Expats Turn Backs On US Taxes, Tax-News.com
16/07 Congress Approves US Financial Reform Bill, Tax-News.com
15/07 New Lowtax Editor Column, by Kitty Miv
15/07 St Vincent & The Grenadines, Investors Offshore special feature
13/07 Tax-News.com Jersey Review 2010-2011
12/07 Goodbye To All That, Jeremy Hetherington-Gore blog entry
09/07 Antigua Pursuing Trade Sanctions Against US, Tax-News.com
08/07 New Lowtax Editor Column, by Kitty Miv
06/07 Hong Kong Full PBTG Guide, added to Personal Business Tax Guide
05/07 Australian Mining Tax Agreement Reached, Tax-News.com
02/07 Online Trading For Expats, Investors Offshore special feature
29/06 EC To Extend Common System Of VAT, Tax-News.com
28/06 Lowtax Dubai, annual update
25/06 Jersey Considers Tax Future, Tax-News.com
22/06 VAT Hiked In UK Emergency Budget, Tax-News.com
21/06 Steady Progress In TPP Negotiations, Tax-News.com
18/06 Singapore - Another Hong Kong?, Investors Offshore special feature
15/06 Swiss Parliament Approves UBS Agreement, Tax-News.com
14/06 Ethical Moonshine, Penelope Wise blog entry
11/06 Germany Purchases Stolen Tax Data Disc, Tax-News.com
08/06 Dubai Full PBTG Guide, added to Personal Business Tax Guide
07/06 G-20 Shelves Global Bank Tax, Tax-News.com
04/06 Lowtax Panama, annual update
01/06 Lowtax Luxembourg, annual update
31/05 OECD And EU Strengthen Tax Cooperation, Tax-News.com
28/05 Lowtax Guernsey, annual update
25/05 Lowtax Jersey, annual update
24/05 Lithuania Summary PBTG Guide, added to Personal Business Tax Guide
21/05 Lowtax Liechtenstein, annual update
18/05 Latvia Summary PBTG Guide, added to Personal Business Tax Guide
17/05 Offshore And The Euro, Jeremy Hetherington-Gore blog entry
14/05 IO Focus: Barbados, Investors Offshore special feature
03/03 Personal Business Tax Guide, PBTG, has launched!
Providing essential tax news and information for globally mobile artists, contractors, entrepreneurs, professionals, small businesses, sportspersons and entertainers.
 

 
Lowtax Network Sites
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Law & Tax News: Daily news and background data on tax and legal developments for international business.
Offshore-e-com: A topical guide to offshore e-commerce focused on tax and regulation.
Lowtax Library: One of the web's largest and most authoritative business and investment information sources.
US Tax Network: The resource for free online US taxation information, covering: corporate tax, individual tax, international tax, expatriates, sales and e-commerce tax, investment tax.
NEW! Personal Business Tax Guide: Providing essential tax news and information on business for contractors, entrepreneurs, professionals, small businesses, artists, sportspersons and entertainers.
 
HOME | CONTACT | RECRUITMENT | ABOUT | LEGAL | LINKS

 

LINKS IN THIS SECTION

- Offshore Company Formation
- Accountancy Services
- Legal Services

RELATED SECTIONS

- Taxation of Offshore E-commerce
- Regulation of Offshore E-commerce
- Offshore E-commerce Facilities
- Offshore E-commerce Applications

At one time, the financial infrastructure of tax havens, as they were then called, lagged far behind the level of sophistication of the tax-minimising schemes for which they were used. This problem was compounded by poor telecommunications and inadequate legal infrastructure.

Facilities can still be well below par in some of the more backward jurisdictions, but there is strong competition among the better and more popular jurisdictions which has led to a much improved level of services. This is definitely a point to check when selecting an offshore jurisdiction, and it is not necessarily easy to get objective advice. See the Lowtax.net Jurisdictions section for information on the facilities available in different centres; and you might consider talking to an adviser in a high-tax country who makes regular use of your chosen jurisdiction for advice on this point.

The key financial institution for an offshore e-commerce operation is of course a bank, although if you are considering a listing then you will be interested in the relatively few offshore jurisdictions that have stock exchanges, and the associated brokerages, registrars and custodians. There are stock exchanges in the Bahamas, Bermuda, the Cayman Islands, the Channel Islands, Cyprus, Ireland, Luxembourg, Mauritius, Hong Kong and Switzerland.

There is wide variety in the level and scale of banking operations in offshore jurisdictions. At one extreme lies the Cayman Islands, with 340 banks (2006) including branches of virtually every major bank in the world, while at the other extreme some jurisdictions defend their domestic banking sectors and restrict foreign banking quite severely.

The need is for a bank that will be easily able to receive transfers from all over the world and account for them accurately, and will be able to provide normal commercial services to your local operation possibly including payroll support. The local offices of major Western commercial banks may qualify, or they may not, depending on their reasons for being there. Some will be no more than representative offices, some will be specialised trade-support offices, while some (perhaps few) will offer a full range of services.

Local banks will no doubt offer full service, but will not themselves be offshore (check withholding tax issues), may work in a foreign language, and may not have the same level of IT and communications support offered by a Western bank. So careful shopping around is in order.

However, some of the more advanced international banks now offer such good Internet-based services that there may be no need to look for local banking facilities.

OFFSHORE PROFESSIONAL AND FINANCIAL SERVICES

- Offshore Company Formation - Forming an offshore company for E-commerce purposes.
- Accountancy Services - Professional services for offshore tax optimisation.
- Legal Services - Specialist legal services for offshore E-commerce.


 

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