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Offshore schemes in 2018: what you need to know and take into account to take advantage of offshore schemes?

2018-10-17

Offshore schemes are often used in global business to solve problems. In this regard, the question of how these schemes will look like in 2018 is relevant. If the laws are not followed and the offshore is not properly used, the entrepreneur may be brought to justice, there is a risk of imposing sanctions.

The principle of operation of the offshore scheme

This scheme represents a structure that consists of a number of offshore elements, designed to solve a specific problem.

According to the theory, a foreign account or company can be called a structure, but it is often implied that there is another system consisting of parts:

• Foreign holding;

• Companies that own valuable assets;

• Trust with related organizations.

Scheme elements can be located in different states. They are created by experts in this field. The main task is to track the performance of the circuit. It solves various problems - it is created in order to minimize taxes, increase business efficiency, conceal information about beneficiaries, protect business from fraudsters.

When developing a scheme, the laws of jurisdictions are taken into account. If there is a priority in the protection of property rights, Nevis is chosen, if necessary, significant investment is taken into account Switzerland. If a person tries to hide information about himself, he opens accounts in Georgia.

The most common schemes for trading, loan repayment, asset ownership, or for withdrawing company profits. At the same time, the fact that familiar schemes can bring problems to an entrepreneur is important.

Why it became difficult to open an account

In 2018, classic offshore firms find it difficult to open a non-resident bank account. Jurisdictions that previously worked with offshore companies may refuse to open an account for new offshore companies, and also close old ones. Buy offshore becomes difficult.

This is due to the introduction of new rules, on the basis of which, banking organizations must monitor the activities of the client, to track the operations performed by him. In this regard, it is easier for a bank to stop serving a client than to study the specifics of its activities.

The difficulty can be caused by the fact that in classic offshore companies there is no need to file taxes. This privilege was enjoyed by some businessmen. However, it is impossible to open an account for a company without accounting.

If an account is needed for a full-fledged business, you need to correctly keep records of the company's activities, which should be transparent. It is recommended to open an account where it is possible. If the business is large, it is easier to open an account, but only subject to the conditions of transparency.