Steven Sears, Attorney and CPA offers Asset Protection and other services in Irvine, CA. For more information, visit: http://www.corpadvisor.com
The Isle of Man is located in the Irish Sea between Britain, Scotland and Ireland. The official language is English and the official currency is the pound Sterling. It is a democratic self-governing territory within the British Commonwealth. Although this island has never formally been a part of Britain, today Britain is responsible for the island’s defense and its international relations.
The political, governmental and economic systems are stable and it has a free trade zone. The Isle of Man enjoys a reputation as a respected, well-established and sophisticated offshore financial center. The banking system is well-developed. Confidentiality is very important regarding banking practices. Bankers are not allowed to divulge information related to their clients. Moreover, there are no exchange control regulations of any type to limit the movement of funds on or off the Island, currency is freely transferable.
Non-residents doing business on the island, are exempt from income tax, also it is exempt for trusts with non-residents beneficiaries. There are no capital gains taxes nor gift taxes on the island.
Since this country has a legal system based on Common Law it recognizes the concept of the Trust. The only trust that needs to be registered would be one dealing in real estate. Furthermore, a valid executed trust cannot be revoked. Once it is valid the settler no longer maintains an interest in the trust property, unless it is provided for in the trust deed. The Isle of Man is an excellent jurisdiction for creative planning and ventures.
- Related Videos
- Related Articles
- Ask / Related Q&A
Banks May Remain Profitable By Approving More Commercial Loan Modification Agreements
By: Michael Bartonolis | 29/11/2009The failure of the nine banks that were closed down by the Federal Deposit Insurance Corporation (FDIC) offers an important lesson for financial institutions. Those banks could have survived if they had increased their efforts to allow more commercial loan modification deals for their troubled borrowers.
Inter bank money transfer using NEFT and RTGS in India: The Essentials
By: Ram Vishnu | 29/11/2009Many of us have sent money to family members living in other parts of India through cheques, DDs, money orders or other means. These transactions can take several days to complete from the time you decide to send the money to when the beneficiary has the money in their hands. Both you and your beneficiary can free yourself from the hassle of having to visit a bank branch to prepare or cash the demand drafts or cheques. There are faster and simpler ways to transfer money safely through use of
Bank Finance
By: Pinki Gupta | 29/11/2009If you are a brilliant trainee studying for a degree prestige a subject close as finance or accounting factual is likely that you are already seriously considered a career in investment banking. Investment banking jobs hold gained a reputation for premium some of the highest salary packages a wider graduate rap hope to conclude
Banking Finance
By: Pinki Gupta | 29/11/2009Real estate investment is generally viewed as a lucrative career compass. But purchasing investment treasure does force a significant financial backing.
Save bank fees
By: David de Roo | 29/11/2009If your a student , there's no reason you shouln't have an account with no fees and no minimums. If you decide to stick with a big bank account , make sure your in a student account with no annual fees.
ROLE OF BANKS IN PROMOTING FINANCIAL INCLUSION
By: DR.R.SRINIVASAN | 28/11/2009Indian banking industry is passing through a phase of customers market. Since today, banks are adding innovative services to their customers. As the customers have more choices in choosing their banks, competition has been established within the banks operating in India. Now, the banking sector has taken a lead role in promoting financial inclusion.
What Is Money Really?
By: Nick Broadhurst | 28/11/2009What is money? Here is a short article on what money really is, with the mystique removed. The concept of money is not strange and once one realises its simplicity the confusion drops away. There is no reason why money should not be mastered like any other part of life and living.
Offshore Asset Protection
By: Steven Sears | 29/10/2008 | Wealth BuildingAggressive asset protection, in particular lawsuit protection, often involves use of offshore entities. Certain foreign jurisdictions do not recognize the judgments of United States courts. To reach assets held offshore, it may be necessary for the creditor to retry the claim in the foreign jurisdiction. This would require hiring local attorneys and having witnesses, exhibits and other evidence presented in the foreign court. The costs associated with such an action may deter a creditor from pur
Offers in Compromise
By: Steven Sears | 29/10/2008 | TaxesThe IRS Offer in Compromise Program authorizes the IRS to compromise outstanding tax obligations with taxpayers with financial hardship for less than the full tax due. What this means is that the IRS negotiates a deal with you to pay what you can afford and forgives any remaining balance.
Non-profit Organizations
By: Steven Sears | 29/10/2008 | BankingOrganizations seeking recognition of exemption from federal income tax includes a church or a convention or association of educational, or organization operated for the benefit of certain state and municipal colleges and universities or a hospital or medical research organization.
Nevada Corporations
By: Steven Sears | 29/10/2008 | Wealth BuildingNevada Corporation
Life Insurance Trust
By: Steven Sears | 29/10/2008 | Wealth BuildingA Life Insurance Trust is simply a document that acts like a very private and secure box into which you place your life insurance policy. Did you know that upon your death the life insurance proceeds will be included in your Estate?
International-isle of Man
By: Steven Sears | 29/10/2008 | BankingThe Isle of Man is located in the Irish Sea between Britain, Scotland and Ireland. The official language is English and the official currency is the pound Sterling. It is a democratic self-governing territory within the British Commonwealth. Although this island has never formally been a part of Britain, today Britain is responsible for the island’s defense and its international relations.
International-ireland
By: Steven Sears | 29/10/2008 | BankingIreland is located to the west of Britain, separated by the Irish Sea. The capital and commercial center is Dublin. The official language is English and the official currency is the Irish pound. The legal system is similar to that of Britain, common law. Ireland is divided into the Republic of Ireland and Northern Ireland. The Republic of Ireland is an independent territory. Northern Ireland remains under British rule.
Delaware Corporations
By: Steven Sears | 29/10/2008 | BankingFor over a Century, Delaware has been the location of choice for more than fifty percent of the U.S. Corporations. The reason for the continuation of this trend relates to the Delaware Corporation Law which is one of the most advanced and flexible corporation statutes in the nation.