2009 experience with offshore business privacy?

[bobsled]

I’m sure some Forumosa members have experience working as consultants for International Business Companies (a.k.a. Offshore Business Companies) that have been set up in jurisdictions with relatively high degrees of financial privacy.

While reading the fascinating thread at:

Any advice about offshore company registrars in HK?

I’ve searched the forum but didn’t see anything specifically about the kind of advice I’m looking for I am looking to set up an offshore holding company so I could bill my consulting fees to clients in China as well as Taiwan. A good friend suggested I incorporate in Western Samoa and set up my bank accounts in HK So in my research of offshore incorporation, I have spoken to 2 firms: OrangeField and OIL (Offshore Incorporation, Limited, I think) OrangeField requires a personal referral and th…

I saw that some Forumosa users have recommended particular offshore company formation websites at:

sovereigngroup.com/

and

offshore-inc.com/index.php?_ … ew=detail&

I saw a lot of material for future research.

However, I wonder if anyone has any recent experiences regarding the ins and outs of corporate and personal privacy when dealing with these companies.

I don’t mind paying taxes, but I hate having to fill in extra paperwork. The advantage of a high-privacy jurisdiction, to my mind, is that businesspersons can get on with business and not worry about getting permission for every trivial task from bureaucratic busybodies. I can live with some bureaucracy (such as paying a bit of tax to Taiwan every year) but if I’m going to work hard as a capitalist I prefer to work in a “laissez-faire” sort of environment.

So if anyone has experience working with this sort of venture in 2009, I’d love to hear about it. Likewise, any thoughts on financial privacy are welcome.

[Ruthsam]

Well from what I read then most are using offshore companies for their tax reduction plans.

I found a forum which is covering most of these topics, not sure if it is all true but they say that if you’re living in the UK but not a UK citizens you can avoid to pay tax.
cclogic.com/forum/

May be of interest for most of the guys here.