5.
Offshore
Guardian Trust Capital offers its clients the ability to choose financial products in multiple jurisdictions. Offshore is a term used for companies or bank accounts opened abroad, that is, outside the place of domicile of the owners. These countries offer tax benefits and privacy and confidentiality policies to investors. The receiving countries of these companies and investors became known as tax havens, where there is a more favorable tax policy.
Cayman Islands
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The Cayman Islands is a dependent territory of the United Kingdom and has more than 150 banks, among which most are subsidiaries and branches of international banks. More than 40 of the world's 50 largest banks are licensed in the Cayman Islands, indicating their quality in the financial sector, which is recognized worldwide. The Cayman Islands Monetary Authority (CIMA) is responsible for regulating and supervising financial services.
Puerto Rico
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Puerto Rico is an unincorporated territory of the United States located in the Caribbean. Despite being part of the United States and using the dollar as its currency, Puerto Rico has fiscal autonomy and operates in a separate fiscal jurisdiction. It is the only place on American soil where personal income from capital gains, interest and dividends is tax-free.
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On September 25, 2012, Puerto Rico enacted Law No. 273, also known as the “Regulatory Law of International Financial Centers”. The Act provides tax exemptions for companies engaged in eligible activities in Puerto Rico. To enjoy such benefits, a company must become an International Financial Entity (IFE) by applying for a permit and license and obtaining a tax exemption decree.
Malaysia
Labuan is an island in the Federal Territory of Labuan, Malaysia. Labuan is known as an offshore financial center as it is an autonomous region within Malaysia, which allows freedom in choosing state law. Malaysia was ranked as the top emerging economy in the region by the World Economic Forum in its Global Competitiveness Report 2017-2018.