Belize LawyerArticle About Offshore Rationale
Many attorneys in Belize will tell you that many times investors go offshore to lessen taxes and for more privacy, while other people go for criminal activities. One is permitted to arrange his affairs in the most useful and economical manner.
In fact, as a Belize lawyer I can say offshore is not unlawful as the propaganda claim. Not to report/pay due taxes back home (“onshore”) is illegal, but most people using offshore structures in fact do so.
If properly organized with cross-border professional counsel, the structures work in resourceful harmony. Because this has worked so well and because even UK and US courts admit the legality, thus the basis for the attempt to find other moral reasons not to allow offshore centers to continue.
We have become a casualty of our own success. There are several reasons people aspire anonymity. In many countries targeting wealthy people, including kidnapping, has turned into a business.Tax reports are sold to criminal gangs and some countries have fanatical investigative branches of government (some governments spy on their citizens and others exploit this information for extortion and repression).
People guarding against economic espionage, to protect the success of their patented business models, seek out confidentiality and trust.In the US now, one can purchase almost anyone’s Social Security number and address or it can be stolen from garbage, obtained online or wirelessly extracted from large store computers.
It is the opinion of some attorneys in Belize that it is a result of advanced nations’ increasing lack of regulations and penalties to avoid identity theft, technological espionage and usurious penalties for even the slightest breach of any regulation that has scared its own citizens into the arms of foreignlands. Now the US is quickly turning its own citizens into international pariahs akin to citizens of North Korea, Cuba and Iran, so that numerous providers, some countries and some banks now hesitate if not outright decline having any US citizen as a client in any form. But then again, that may indeed be the objective.
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