Fact – 1
Offshore zones are a separate territory (island, country or part of it), where foreign investors are offered the best conditions. In such zones, companies are usually registered, and business is carried out in other countries.
Fact – 2
Offshore zones provide preferential or zero taxation, flexible legislation, protection of personal information, absence or simplification of tax reporting, protection of assets from raider seizures, concealment and legalization of illegal income.
Fact – 3
The history of offshore companies has a criminal past. In the 30s, Al Capone and his partner started a money laundering mechanism. “Dirty” dollars were exported to Cuba or Bermuda, where companies were created and money was laundered. Then the “clean” money was legally returned to the United States.
Fact – 4
In the modern world, offshore zones are used by almost all the rich people of our planet. According to the Tax Justice Network, they store about $11 trillion offshore.
Fact – 5
Through offshore corrupt officials “launder” money and the world loses up to 20 trillion dollars a year. Taxes on this money could go to schools, hospitals or good roads.
Fact – 6
In 2015, the media published the Panama Papers, which declassified the financial secrets of the richest, most famous and influential people.
Fact – 7
For example, the Prime Minister of Iceland hid millions of dollars offshore, family members of Chinese top leaders secretly transferred money to the West. Even the footballer Lionel Messi hid his income from the tax.
Fact – 8
There are more than a hundred offshore zones in the world. The most popular of them are the British Virgin Islands, Seychelles, Hong Kong, Belize, UAE, Cayman Islands, Isle of Man, Jersey and Guernsey, Bahamas, Gibraltar, Nevis, Singapore, Cyprus, Panama, etc. Some interesting facts about these places:
Fact – 9
Benefits of offshore zones in the fee for the registration and re-registration of companies, jobs for the local population and the development of telecommunications networks.
Fact – 10
For example, in the British Virgin Islands, there are only 30 thousand inhabitants and about 900 thousand registered companies. The Cayman Islands are home to 65,000 and have over 100,000 registered companies.
Fact – 11
The Seychelles has been a haven for pirates in the past, and now there are billions offshore.
Fact – 12
The population of the Seychelles is the smallest of all independent African countries. However, thanks to the offshore zone, they are among the most prosperous and wealthy countries on the continent.
Fact – 13
Hong Kong is the most popular offshore zone.
Fact – 14
In the world list of billionaires, Hong Kong is ranked seventh.
Fact – 15
Mystery fact: near the Bank of China building in Hong Kong is the Central HSBC building with two rods on the roof that deflect bad energy.
Fact – 16
Belize is a small country located in Central America. The local population of the country loves and knows how to relax. The country has many public holidays.
Fact – 17
Tourism, agriculture, offshore and drugs are the country’s main sources of income. The former are controlled by the government, drugs are controlled by the South American mafia cartel.
Fact – 18
The discovery of oil in the UAE in the 1960s was the main reason for the economic development of the country. Previously, the UAE was known for pearling and fishing.
Fact – 19
The world’s first ATMs for issuing gold appeared in the United Arab Emirates. They sell gold bars and coins. The system updates prices every ten minutes.
Fact – 20
After tourism, financial services generate the largest portion of income for the Cayman Islands.
Fact – 21
The Cayman Islands has one of the highest levels of per capita income. Interestingly, most goods are imported to the islands.
Fact – 22
Cyprus is an island nation in the eastern Mediterranean. The church plays a significant role in the social and political life of the inhabitants of the island.
Interestingly, the largest bank here belongs to the Cypriot Orthodox Church.
Fact – 23
Fun fact: there are coffee shops in Cyprus exclusively for men.
Fact – 24
Located in Southeast Asia, Singapore is a cosmopolitan city-state and the easiest place in the world to do business after New Zealand.
Singapore is one of the least corrupt city in the world.
Fact – 25
Singapore’s entire economy is based on shipping. An interesting fact is that every sixth resident of the country has assets worth $1 million or more.
