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a guarantee up to rois essential for the Bbility for the countryTrust Act, which provBahamian law regardcile of Trust permitsrecognize the concepand the Fraudulent Dfraudulent dispositioother jurisdiction.6 for tax-haven attlow-profile haven wiand no recognition ofaround twice the siz140,000 highly skilledizens speak English,use, as is the Barbadohas been an independforeign ownership ofstructure, banking (4and accounting proExpress, DHL, and upan attractive jurisdictU.S. and other countra low-tax jurisdiction224 THE OFFSHORENRA tax haven.NR Prior reputationworld.
TRH H A U E H S O F THE UlORLD 2253.5 This Central American country (the former British Honduras)IS not yet in the same league as the Bahamas, Bermuda, Costa Rica,and the British Virgin Islands. It is a developing country and has along way to go to reach the higher level of performance and professionalismprovided elsewhere. However, it has enacted APT legislation.It is at a lower tier in the os world's listings of tax havens, .not yet an international financial center. You should want and needInore than a tax haven. Belize's banking system survived an attackby the U.S. SEC attempting to recover funds.As a retirement location in Central America, some dislike it andothers think it's great. Belize brings in the retirees' money and createseconomic gains for the locals. There really are only two CentralAmerican retirement locations on my os list-Costa Rica andBelize. Between the two, I still prefer Costa Rica. It has beenreported that close to 30,000 Americans have retired in Costa Rica,which is a brief flight from Los Angeles, Houston, or Miami.Belize is a relative newcomer to the world international financialscene and has much to learn, including how to create rhe correctpolitical and regulatory climate to attract flight capital and offshoreconsultants' business. Belize's regulators appear to be ineffective. TheInternet is awash with offers for $200 Belize trusts, and they arebeing sold in a multilevel marketing scheme. Noncompliant claims ofU.S. tax-free income abound. You can't get an efficacious and worthwhiletrust deed for $zoo! You don't want a trustee who drives ataxicab by day and writes trusts at night. I'm concerned for thosewho may be deceived with a false sense of accomplishment and protectionbut in reality are left holding a weak, nonpersonalized trustaboilerplate document. And what about those $850 second-yeartrustee fees that they don't mention? There is no recognition of foreignjudgments (+), and no statutory recognition of creditor "classes"(+). Belize has enacted APT legislation (+) and encourages redomicilingof foreign IBCS in its jurisdiction, waiving first-year fees. Morethan 11,000 IBCS are registered allowing bearer shares and no disclosureof shareholders.
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1 Holu to Noue Rssets OffshoreYand
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To JUDIE, MY WIFE.MY THANKS FOR YOU
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Basic Offshore EntitiesWhat Can an
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U.S. Taxes on the IBC Investing in
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A H O T E FRO1 THE AUTHOR xxiiiFiqu
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I am an active certifthe United Sta
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R N O T E F R O M T H i R U T H O R
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A HOTE FROH THE AUTHOR nixbook, the
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etting Started: Recognizing andOuer
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58 THE O F F S ~ O R E HOHEY B O O
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60 THE OFFSHORE HONEY BOOKTax Regim
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62 THE 0fFSH.ORE HOHEY B O O KPriua
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OFFSHORE B A H K S AH0 RELATED BANK
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Your bank's letterheadJanuary 12, 2
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Page 220 and 221: Applying Ulhat You Have learnedSucc
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Page 248 and 249: judge held, the Cook Islandssaid to
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PublicationsDISCLAIMER: 1 HAVE no f
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Bulletproof Offshore Asset Protecti
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Legal InfOffsHague Academy of Inter
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ISPI Clips is a free E-mail service
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Asset Protection and Offshore SeruP
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E-mail: richard@assetlaw.comWebsite
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APPEHMoney-Laundering Compliance Ul
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Internet ResourcesDisclaimer. The f
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Barbados lnvestrnent and DeE-mail:
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CubaInternational Trade & Investmen
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of the Eura coins and banknotes. In
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E-mail: fiducia@ekvWebsite: www.lol
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E-mail: siba@seycheWebsite: www.sib
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Abusive trust, 247Accbmmodation add
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Swiss, 105-7breaches of secrecy, 10
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Commercial trustee, 72Committee of
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Exit strategy, implementing,135-36E
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Hybrid annuity, 261Hybrid company,
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Limited liability limitedpartnershi
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Offshore financial industry,extraor
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Restricted business activities, 62R
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British Virgin Islands as, 173,185,
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United States grantor, tax on,172-7
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