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Tax Engineering

Offshore financial questions

Solve all your doubts with a single click and discover all the secrets of offshore jurisdictions in our Financial questions section. Learn how individuals and legal entities save taxes. Understand how to register an offshore company, open a bank account abroad or request an anonymous card. Feel free to ask your question without any obligation and it will be answered in less than 12 hours with the greatest security and anonymity.

Offshore taxes

Should I use offshore to protect my assets?

Taking part of your protected assets to "offshore" gives you access to modern methods of protection and reduces your taxes considerably using corporations and international foundations. When a physical person decides to protect his assets through an offshore company, he grants a special power to this company that has been registered by him in order to assign a property on its name and to avoid embargoes of authorities or companies.

shield to protect offshore assets

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What taxes do offshore companies pay?

The tax of an offshore company is a type of tax imposed by the tax office of the tax haven to the resident company registered on its territory. If the company is set up in a tax haven that has favorable tax laws for non-residents, the company will not pay any kind of tax, since the beneficiary of the offshore company is not resident in the country. If the company is in the name of a resident of a tax haven and conducts operations within the jurisdiction, the company will be taxed as any other company incorporated in a country of high taxation. The main difference between the tax regime of offshore companies and that of a country with high taxes is that in t

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How income tax is calculated by an S.A. in Panama?

Calculating the income taxes (IT) that an SA in Panama has to pay is simple. The Mexican resident payer will have to take into account the world earnings, that is, he will have to take into account what he has earned in Mexico, the SA in Panama or any other income in the world. Once the person declares all the world earnings the IT will apply a percentage of taxes depending on the amount that he has earned. Depending on the volume of rents, the percentage of taxes will be higher or lower, higher the income is higher are the taxes applied. Currently, Mexico has signed the automatic information exchange treaty and as of this year, countries such as Panama will send bank information reports to Mexican ISR. Therefore, we recommend declaring the income that

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What is the FATCA law?

FATCA is an American tax law that entered into force on July 1 of 2013 and means the Foreign Account Tax Compliance Act. The IRS and the Treasury Department drafted the FATCA Act to oblige all banking entities in the world to report on the movements that Americans have in foreign banks. The FATCA law requires natural and / or legal persons of American nationality to inform the IRS and the treasury department through the Form W-9 declaring a bank account opened abroad, either in an offshore or onshore jurisdiction. In the event that the physical or legal person considered FATCA does not complete the W-9 form, the bank will be responsible for breach of the law and could be sanctioned for not cooperating with the United States. The bank is

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LLC in Delaware with account in the USA

If an offshore company in Delaware has accounts in the US, it automatically will be a subject to taxation and will pay its tax based on the benefits the company has since the US is not a tax haven and the state of Delaware is less. The main difference between Delaware and other American states is that in Delaware there are several types of local taxes that are not applied, such as sales VAT, which would be similar to VAT in the European Union. You can see more information on company formation in Delaware.

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VAT in United Kingdom

If you have UK VAT number, you are now obliged to charge your customers with the English VAT on all sales that you make in the European Union, including Spain. Logically, all the purchases you make in the EU may also deduct the VAT. In the case of not charging VAT on operations to your customers in the EU, you will be committing a VAT fraud and can be prosecuted by the English authorities. Do you have the intra-community VAT number? In reference to the English tax advisors, they are so nice. I await your comments.

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Help with tax optimization

Legal fiscal optimization can be defined as the search made by natural or legal person for legal formulas to save the maximum possible on taxes without violating the tax laws of a country. On our page you can find all the financial services offered. If you need information on tax optimization, we recommend that you read the articles from our Blog since there are very good options to perform a good optimization for Mexican tax residents.

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Offshore banks

How to withdraw money from offshore bank account?

Customers can withdraw their money from offshore bank account in their country of residence with debit or credit card. When the client opens offshore bank account, he requests a VISA or MasterCard debit or credit card to make purchases or withdrawals of cash. Can I withdraw money at any ATM in my country of residence? Yes, 99.99% of ATMs accept VISA or MasterCard and you can withdraw cash without any problems. What fees will be charged to my card for each withdrawal? Depending on the jurisdiction where the bank account is opened, you may have higher or lower commissions. Normally the commissions that are charged for the withdrawal of money are from 2.5 to 3.50 euros per each 600 euros.

Another way to have the money from your offshore bank account

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What is a self-loan?

The main job of banks, whether in a tax haven or in a high-tax country, is to lend money in exchange for some interest. Offshore banks are not an exception and also lend money to individuals and companies with "very good" conditions. Nowadays, with the economic crisis, banks do not lend money if they do not have a proof of an absolute solvency of the client and as a result it became difficult to obtain a loan. If the client is suitable and passes all the credit controls of the bank, he will request a pledged deposit in a bank account or a fully blocked investment fund. Suppose a client wants to apply for a loan of 100,000 euros. In order for the bank to provide you with the loan, you will be requested to block a deposit in the account for total amount of 50% to 80% of t

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Offshore private banking

Offshore private banking is one of the minor aspects of the well-known private or street banking. Private banking is one of the essential offshore services provided to reduce taxes and perform proper tax and hereditary planning. It is a type of banking exclusively for people with a high purchasing power who need special attention and personalized service for tax issues and management of their assets. The minimum amounts required to become a private banking client vary depending on the country, in Switzerland the client must have a minimum deposit of 1 to 2 million Swiss francs and in Spain the minimum deposit should be minimum 100,000 to 300,000 euros.

Private banking is a sector with a lot of competition and what customers value the most is c

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How can I deposit money to my bank account?

Is it legal to deposit cash to a bank account? What are the advantages and disadvantages of depositing money to your bank account? Depositing cash to a bank account is very common in Latin America since it is very usual for people to collect their payroll or make payments in cash for the mistrust generated by banking systems and governments. Therefore, it is very common in Latin America to open a first current account with 40 or 50 years of age.

How can you deposit cash? The process of depositing cash is very simple and fast, you just have to go to a bank and deposit the money in the bank. Depending on the amount you want to credit, the bank can request contracts t

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What is a bank reference?

A bank reference or a bank certificate is a document issued by the director of the branch on behalf of the bank where the ownership of the customer's bank account is certified. Here you can see an example of bank reference or bank certificate in Spanish and English for the opening of an offshore bank account.

In English

Bank reference in english


In Spanish

Bank reference in spanish


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Open bank account in US dollars

Opening an account in US dollars is easy. As you know in Venezuela, Argentina etc. there is an exchange rate imposed by your governments. Therefore a perfect way to obtain currencies such as Euro, US $, GBP, Yen etc. is by opening an offshore bank account in Saint Vincent and the Grenadines. In reference to your questions I make my following comments:

  1. The minimum deposit for opening the account is $ 200 and the cost for opening the offshore account without physical presence in Saint Vincent and the Grenadines is 495 euros.
  2. The bank will give you a MasterCard or Visa debit card. A credit card can be provided if you have a good credit history. The delivery of the cards to
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What is a shell bank?

Browsing on the internet one comes across the information about financial institutions that claim to be banks, correspondent banks or payment entities but once the bank account is opened and the client deposits money in cash or by wire transfer, the money and the entity disappear. If this is your case you have just been a victim of a shell bank fraud. What is a shell bank? Shell bank is a bank that is incorporated in a country, in which it has no physical presence, it is not regulated by its central bank and may not belong to any regulated financial group.

To prevent a fraud of a shell bank in an offshore or onshore jurisdiction, customers must follow these steps:

  1. Request the bank information from the financial commission tha
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Offshore bank cards

Requirements to apply for an offshore card

Necessary requirements that a physical person needs to present in order to apply for an offshore card are the following:

Requirements Copy of Passport
Apostiled and certified by a notary
Copy of Personal Identity Card
Apostiled and certified by a notary
Copy of one utility bill not older than 3 months
Electricity, water, gas, telephone or bank statement.
Bank Reference or bank certificate not older than 3 months
In English


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Recharge the offshore card through wire transfer

The offshore card can be recharged by several payment methods, including bank wire transfer. Once you receive the offshore card you will receive the bank details so that you can recharge it and using a unique customer code your clients or you will have to enter it in the option of the concept of the transfer.

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Monthly limits to recharge offshore cards

The limits of offshore cards withdrawals at ATMs are 4,000 euros per day in the customer's local currency or where the customer is located at that time. As a general rule, the maximum recharge that an offshore card accepts monthly will be 40,000 euros.

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Transfer money from card to card

Currently for debit and credit cards it is not possible to transfer money from card to card or from card to a bank account and less to an account that you are not the owner of. If you want to receive your money in a bank account and have a card associated with that account, I recommend opening a personal bank account.

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Plastic cards

The future of cash is increasingly uncertain and according to some experts it will gradually disappear. Many countries are thinking of abolishing cash and replacing it with plastic cards for fiscal reasons. Physical money gives many problems to tax agencies, as it is quite easy to convert legal money into black money and vice versa. With plastic cards this problem would disappear because the money deposited in the account can be traced easily. On the one hand there is a physical person who makes the payment for goods or services and on the other there would be the POS virtual, the receiver of the money. Other problem that has cash is that it has a physical location and can be stolen by anyone cre

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Financial economics terms

What is offshore?

Offshore can be defined as a list of tax free countries or countries where taxes are replaced by a fixed quota imposed by the government of extraterritorial jurisdiction, are also known contemptuously as tax havens.

The financial term offshore means "outside the fiscal residence of the natural person". Any person can legally set up a company or open a bank account in an offshore financial center. Are there disadvantages in offshore? The answer is yes. If a perfect tax planning is not carried out, the final beneficiary may have problems with the tax authorities since it would not be an evasion of taxes, but a tax evasion. You have to study the fisca

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What is onshore?

Onshore means all investments made by a company or individual in its high tax country of residence. The main difference between onshore and offshore is essentially a tax regime. Offshore are jurisdictions where non-resident companies or individuals pay 0% or less than 10% tax. The examples of this kind of jurisdictions are Cayman Islands, Belize or Saint Vincent and the Grenadines. Onshore are jurisdictions where all taxes are paid regardless of whether the company or an individual is a resident or not, carries out its business activities within these jurisdictions or outside its borders. Clear example of this kind of jurisdictions is Germany, Switzerland an

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What are the Articles of incorporation?

The articles of incorporation (sometimes called "Certificate of incorporation") is the essential part of the package of documents of a company and represents an identification of the country where it has been registered. The information included in the articles of incorporation can vary greatly depending on the country in which the company has been set up. However, there is a common information that most countries require:

  1. The name of the company: The name by which your company will be known must include one of the abbreviations: "Corp.", "Inc.", "S.L.", S.A. "etc. You may need to search and verify the availability of the name before submitting the articles of incorporation. In the event that you incorporate your partnership with a specialized company,
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What are the bylaws of a company?

The bylaws of a company are the regulations that the company creates for its shareholders, officers, directors and administrators. The Board of Directors as one of the first steps to incorporate the company adopts the bylaws. Unlike articles of incorporation, the bylaws of a company are mainly for internal use. Depending on the jurisdiction of the registry, the company may be obliged to make bylaws public in the mercantile registry or not. In addition, the articles of incorporation represent an official and training document with the general information of the company. The bylaws represent rules and orders that define the operation of the company and the conduct of its shareholders or directors.

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What are bearer shares?

Bearer shares are the anonymous shares held by a natural or legal person related to the company. The main characteristic of bearer shares is that the holder of such participations justifies before a notary the ownership of the shares and therefore declares to be a shareholder of the company. Bearer shares don’t hold the name of its owner and therefore facilitate the transfer of assets anonymously. As a general rule, we do not advise the use of bearer shares due to the negative awareness of some countries to recognize this type of stock because of its association with money laundering offenses of illicit origin.

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What are the registered shares?

The registered shares are the certificates of shares that point the property of it to natural person or a company and prove to be the owner of it. The name of the shareholder is recorded in the company's internal records and depending on the country of registration may be public or not in the commercial register. The main disadvantage of the registered shares is that they are not opaque, but when opening a bank account, banks and tax authorities of the majority of the countries value this form of shares holding more than one of bearer shares.

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What is a dormant company or shelf company?

Dormant companies or shelf companies are companies that are legally constituted but have not exercised any type of activity. These companies are constituted with a time of advance by the lawyers and ready to be sold, bought and used to protect the patrimony without having been used before by any other individual or company. Depending on the antiquity of shelf company it can be more or less expensive. These types of companies are widely used to give credibility to the businesses that need to attract new investors.

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Offshore company registration

How can I buy an offshore limited company?

When you buy a private limited or a ready-made company you must take into account many factors and first of all you have to take your time to investigate what exactly you are buying. Limited private company is a figure of Mercantile Registry in which the partners (individuals or legal entities) buy shares of capital stock of a company through shares. These shares may have different and favored values as set out in the articles of incorporation of the company. The key feature of private limited company is the responsibility for the debts of the shareholders to the company: the shareholders are in no way responsible with their private assets for the debts that the private limited company may have and will only respond with the capital provided at the moment of its formation.

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Cost of registering an offshore company in Panama?

The cost of registering a Panamanian company is quite low and varies according to the characteristics of the future company, for example, if you need "Nominee" services, the price will increase considerably. If a client requires an offshore company in Panama without Nominee services the price would be 2395 euros, if he wants a Panamanian company with services nominee the cost will increase to 3395 euros. Note that the Nominee services that we offer are specialized in Trust and wealth protection.

Referring to the taxes that the ISR will make you pay, they depend on the benefits that Panamanian company has throughout the fiscal year. I understand that Mexico will force you to pay taxes on all worldwide income and logical

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Certificate of incorporation of Costa Rica

Please find bellow an example of certificate of incorporation of a company registered in Costa Rica.

Certificate of incorporation of Costa Rica

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Certificate of incorporation in Cyprus

Please find bellow an example of certificate of incorporation of a company registered in Cyprus.

Certificate of incorporation in Cyprus


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Certificate of incorporation in Delaware

Please find bellow an example of certificate of incorporation of a company registered in Delaware.

Certificate of incorporation in Delaware


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Certificate of incorporation in Panama

Please find bellow an example of certificate of incorporation of a company registered in Panama.

Certificate of incorporation in Panama

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Certificate of incorporation in Seychelles

Please find bellow an example of certificate of incorporation of a company registered in Seychelles.

Certificate of incorporation in Seychelles


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Offshore e-Commerce

What is a virtual POS terminal?

An offshore virtual POS is used to charge debit and credit cards websites or by phone outside the country of residence of the beneficial owner or the country of registration of the company with the corresponding tax savings. Depending on the type of business, the offshore payment gateway can be considered low risk, such as a book sale, or high risk business, such as a travel agency, pharmacy, and casino business.

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Charge customers from Peru by PayPal

Yes, you can open an offshore bank account in any country to accept PayPal payments. Keep in mind that PayPal has many restrictions and you will have to find a country where PayPal also operates. Greetings

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What is an offshore hosting?

The offshore hosting servers are located outside the country of residence of the owner of an online business to avoid any problems of licensing, legality or formalities that governments submit to online businesses. Offshore hosting can be located in tax havens or in high tax countries. As in finance, servers located in tax havens will have greater opacity than those of a high taxation country, since as a general rule the owner of offshore hosting will not be resident in the country and will have more favorable laws than in his country of residence. When an individual hires an offshore hosting he has to take into account the country's internet communications and technology to avoid any type of errors generated in the transmission of data.

Offshore hosti

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What is a Chargeback or Reversed transaction?

A chargeback can be defined as a monetary claim to a virtual POS or merchant made by the financial institution that issued a debit or credit card. Chargebacks can be fraudulent or legitimate. That is to say, an individual who has made a purchase with his credit or debit card can request a chargeback claiming that the transaction was fraudulent. The aim of this request in not to pay for the purchase made with his card. The client can claim before the issuer of his credit card, that he did not make the purchase or he can argue any minimum defect of the product or service purchased with the objective of receiving the money back. The situation when the customer claims that he has not made the purchase can be avoided by using 3D Secure anti-fraud security pr

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Offshore software development

An offshore software developer is a programmer specialized in php, C, or C+ programming languages and who works outside the country where the company or individual who has contracted their services is registered.

The offshore software developers are usually autonomous. They are also known in the world of programming as "Freelance". However, we can also find serious companies with very large programmer templates. The best countries to hire offshore software developers are: Armenia, Russia, Ukraine, Romania, Bulgaria, Hungary, Latvia, Czech Republic and Slovakia. The worst countries to hire software developers would be India, China, the Philippines, Pakistan and Indonesia.

Offshore

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Ask your financial question

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