Offshoring is the relocation of a business process from one country to another—typically an operational process, such as manufacturing, banking or supporting processes, such as accounting. Typically this refers to a company business, although state governments may also employ offshoring.
Here are some of the more well-known places to offshore :-
- Belize with its Caribbean Sea shorelines, the barrier reef and high interest rates. These are not as good as P2P lending, but better that most banks.
- Cayman Islands are well-known as tax haven, meaning this country offers foreign individuals and businesses a minimal tax liability. Moreover, a politically and economically stable environment is a requirement.
- Jersey is the largest of the Channel Islands. These islands are located just off the north-west coast of France and south of Weymouth and Poole in the UK. Jersey is a self-governing dependency of the UK, with a mix of British and French cultures. it is well known for its lovely beaches, cliffside walking trails and historic castles. The island was occupied for five years by the Germans during WW2.
- Switzerland is the best place for asset protection because of the country's strict privacy laws.
- Singapore because of its reputation as a stable, safe place to store wealth. Singapore has strict banking regulations, meaning that your wealth is well-protected. The account process is usually fairly easy. In most cases, you can set up an account without ever travelling there.
More to follow ...
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