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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER
Your Link to Freedom, Privacy & Prosperity in the Offshore World
Tuesday, November 2, 2004 - Vol. 6 No. 210
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In This Issue:
* COMMENT: Offshore Improvements.
* OFFSHORE: U.K. OSTs; Jersey, Bermuda. Gibraltar. USA as a Tax Haven. Monaco's Prince Ill.
* WEALTH: London's Dirty Cash. Flat Tax. Cuban Cash. N.Z. Fraud.
* PRIVACY & RIGHTS: If Bush Loses. Chips. Stolen Cards.
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==========================================COMMENT: Offshore Improvements.
Dear A-Letter Reader:
If, in recent years, one listened to the leftist, statist, socialist mouthpieces of the world -- for example, the bureaucrats of the Organization for Economic & Community Development (OECD) -- their official propaganda line was that offshore tax havens would soon become extinct.
This wishful thinking reflected the tax collector mentality of the major welfare G-7 states that saw global tax competition as some sort of evil tax evasion cloaked in sinister financial and banking secrecy. But in a sort of perverse counter reaction produced by all the outside pressure on offshore financial centers, tax havens really have reformed themselves -- and in so doing have made themselves even more attractive.
Yes, their much vaunted 'ironclad' banking secrecy has been diluted by 'know your customer' and suspicious activity rules, plus cash reporting requirements. And even taxes have been imposed in some havens, mostly as a result of the European Union's savings tax directive which extends through the United Kingdom to its traditional overseas territories. But 'tax neutral' jurisdictions still have a great appeal for investments, banking and the use and creation of tax-free legal entities. And it is finally getting through the thick heads of the media that tax havens are way ahead in financial reforms compared to the places that are the major money laundering centers of the world -- New York and London.
Below you will find a series of LINKS to articles about the current state of the offshore world. Although these accounts focus on the UK Channel Islands and Offshore Territories, much of what has been happening there is mirrored, in varying degrees, in other offshore havens.
The state of the offshore world is improving, not diminishing. The appeal of low and no tax places is as strong as ever before. And the place to find out about the offshore world is right here -- at the Sovereign Society.
That's the way that it looks from here.
BOB BAUMAN, Editor
PS: Can you save on taxes by going offshore? Find out more in my new book, "Where to Stash Your Cash Legally." Click here:
LINK: http://www.agora-inc.com/reports/190STHOW/W190EB04/
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COMMENT LINKS:
* OFFSHORE: IT'S PLACE IN THE SUN
Panel discusses the future of offshore financial centers.
LINK: http://www.legalweekglobal.net/ViewItem.asp?id=21927
* SHORING UP THE OFFSHORE FOUNDATIONS
LINK: http://www.legalweekglobal.net/ViewItem.asp?id=21925
* OFFSHORE LAW FIRMS CHANGE
New rules, new markets, new approaches.
LINK: http://www.legalweek.com/ViewItem.asp?id=21922
==========================================* OFFSHORE *
BRITISH OVERSEAS TERRITORIES
Ten surviving outposts of the British Empire.
LINK: http://www.ak13.com/article.php?id=258
* JERSEY zero-ten tax system 'may not create more wealth.'
LINK: http://www.thisisjersey.com/business/business6.html
* The little known Channel Island - ALDERNEY. LINK:
http://www.telegraph.co.uk/property/main.jhtml?xml=/property/2004/10/27/pald24.xml&sSheet=/property/2004/10/27/ixpmain17.html
* BERMUDA independence disturbs business. LINK:
http://www.theroyalgazette.com/apps/pbcs.dll/article?AID=/20041026/NEWS/110260060
* GIBRALTAR subject of Anglo-Spanish talks.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=17785
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U.S.A. - THE ULTIMATE TAX HAVEN?
Yes, but mostly for non-Americans. LINK:
http://www.iht.com/articles/2004/10/22/business/wbmarket23.html
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MONACO'S PRINCE ILL
Monaco's monarch Prince Rainier hospitalized. LINK:
http://www.reuters.com/newsArticle.jhtml?type=worldNews&storyID=6616973
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* WEALTH *
LONDON MAJOR MONEY LAUNDERING CENTER
Not offshore but London is 'a haven' for money launderers. LINK:
http://news.ft.com/cms/s/58f3f296-2903-11d9-836c-00000e2511c8.html
* Offshore centers are not dirty cash havens. LINK:
http://www.freedomandprosperity.org/Papers/blacklist/blacklist.shtml
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A MAJOR SHIFT TOWARDS THE FLAT TAX
Dan Mitchell sees a global trend and example for the USA. LINK:
http://www.washtimes.com/commentary/20041028-091158-4440r.htm
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CUBANS LINE UP FOR CASH CONVERSION
HAVANA: Cubans rush to swap dollars for local funds.
LINK: http://www.caribbeannetnews.com/2004/10/29/dollars.htm
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NEW ZEALAND FRAUD
'High returns' funds vanish in offshore 'scam'. LINK:
http://www.nzherald.co.nz/storydisplay.cfm?storyID=3606088&thesection=news&thesubsection=general
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* PRIVACY & RIGHTS *
WHAT HAPPENS IF BUSH LOSES?
Deadlock in Washington; Republican bloodbath? LINK:
http://www.economist.com/world/na/displayStory.cfm?story_id=3329378
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PEOPLE AS WALKING BAR CODES
ID Chip May Not Generate Profits. LINK:
http://www.nytimes.com/2004/11/01/technology/01necom.html
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GLOBAL STOLEN CREDIT CARDS
28 identity theft suspects arrested in transatlantic sting. LINK:
http://www.washingtonpost.com/wp-dyn/articles/A7614-2004Oct28.html
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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER.
* Bob Bauman, Editor * Daniel Aponte, Jr. Editorial Asst.
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