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Special EU & EURO Warning – December 14, 2011Offshore Jurisdiction Comparison 
Guatemala CorporationGuatemala Bank AccountAnonymous Master Card and VisaHigh Limit Anonymous Offshore Visa & MasterCardAndorra Private Banking Swiss Forex and CFD Trading AccountFOREX and FUTURES Bank Account for BrokersForex Professional Broker Trading Accounts Offshore High Risk Merchant Accounts
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Think Again! Read below for a comparison.
The Turks and Caicos is an offshore tax haven used by some not being very popular. This is not a really bad jurisdiction but has some serious deficiencies and one could do better.
Background – The Turks and Caicos is an overseas territory of the United Kingdom located in the Caribbean south of the Bahamas. It is a self-governing British Crown Colony that uses English Common Law. Their currency is the US Dollar and the official language is English.
The Bad – The Turks and Caicos is in treaties that could affect tax matters. They are in the same treaty as Anguilla. They will turn over information relating to the fraudulent promotion of tax shelters and for tax matters relating to the proceeds of other criminal offenses. The latter is worded poorly and could leave a very wide door open for information exchange. Panama has no tax treaties at all and has no provision for information exchange in tax matters at all and this is what we look for in a jurisdiction.
The Turks and Caicos allow for bearer share corporations but the stock certificates must be turned over to an approved custodian and as we understand the laws this custodian would be required to follow know your customer rules thus have the identity documents and references on the owners of the bearer share corporation. This would also mean that transfers of the shares would be reported and recorded by the custodian. This is another major deficiency in the privacy properties of this jurisdiction.
This island jurisdiction is subject to bad weather interrupting electricity, phones, internet etc. thus making it impossible for you to communicate with the bank for days or even weeks at a time. You can do better than the Turks and Caicos. Panama is a much better choice.
To See what to look for in a Jurisdiction for an Offshore Corporation,
Offshore Trust or Offshore Bank Account for Asset Protection click below:
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*Offshore Legal Associates Law Firm.We have no legal ties or associations with any other law firm or corporation with similar or like sounding names anywhere and should not be so confused with any other entity having a similar or like sounding name.
