By EndriH

Many people associate offshore financial centers with small sun-kissed territories like Panama and the Cayman Islands.

And while several offshore banking centers have a tropical temperature, much of the cold cash is controlled by larger conduit countries that are much more familiar.

Each of these gateway nations specializes in a certain tranche of the offshore banking trade.

So here’s an overview of offshore banking’s five heavy hitters that should help you get a firm grip on flexible financial arrangements.
United Kingdom

The sun may have set on Britain’s geographical empire — but the outlook is still bright for its offshore banking sector.

In fact, 17 of the world’s top 24 offshore banking locations are either currently under UK jurisdiction or formerly flew the Union flag.

So this empire stretches across several time-zones — from the British Virgin Islands to Jersey and Mauritius.

The Netherlands

Casual observers might be surprised that the Netherlands is the world’s biggest offshore banking conduit.

And Britain’s post-Brexit plans to attract even more offshore business are unlikely to be welcomed by a Dutch government already in control of the largest slice of the pie from within Europe.

The Dutch Caribbean ‘ABC’ municipalities are prime locations for offshore holding companies.

Aruba, Curaçao, and Bonaire are not just tourist traps — they’ve allowed the Netherlands to top the league of offshore conduits.

The Curacao Chamber of Commerce welcomes inquiries about registering a company in their domain — so if setting up shop in the tropics sounds attractive they might be worth contacting.

Switzerland

Swiss banks are synonymous with companies seeking flexible tax solutions and the Alpine nation still attracts a swathe of global corporations.

Switzerland’s stable economy and stringent privacy laws are also major attractions for private global investors keen to bank with the likes of Credit Suisse and The Julius Baer Group.

And if you’re tempted jet in to check how your investments are doing you can stock up on some of the world’s most delicious chocolate.

Singapore

Singapore is a favorite location for multinational companies to set up subsidiary firms.

100 per cent foreign shareholding is acceptable and the assets of the parent and subsidiary firm are completely separate.

As well as taking advantage of competitive tax rates, foreign companies find that the Asian nation is an excellent base for expansion into new lucrative markets.

Ireland

The ‘Celtic Tiger’ is roaring a little more quietly these days — but low corporation tax means digital giants Google and Facebook have their European headquarters in Ireland.

And some of Google’s global profits also make their way to Bermuda — so Britain manages to secure a share of the digital giant’s portfolio through this overseas territory.

Pharmaceutical firm Pfizer and medical organization Boston Scientific also have Dublin headquarters and don’t seem to have any plans to return to their home nations for the foreseeable future.

If you’re thinking of registering your firm in any of their territories, reliable offshore consultants can steer you to the shores of the most profitable jurisdictions.

These five heavy hitters control much of the world’s offshore economy — so if you want to capitalize on the benefits of flexible banking it’s best to get on board.

Bron: CuracaoChronical