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Offshore corporations in a changing offshore world. Alternative tax havens and offshore strategies. Offshore corporations in a changing offshore world. Alternative tax havens and offshore strategies.

Israel

• Non-Resident Company
• Not perceived as offshore company
• Tax free if controlled and trading abroad
• Corporate anonymity usually possible

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OFFSHORE-FOX.COM
with Michael Isaacson

Up until a few years ago, Israel lacked any money laundering legislation whatsoever -- and duly found itself on the FATF's money laundering blacklist for that. Curiously, however, Israel was absent from the OECD's list of "unfair" tax competitors.

Whilst it is difficult to describe Israel as a typical tax haven, it is certainly not without its attractions as a corporate haven for non-residents seeking to operate free of tax.

An Israeli company is not liable for Israeli income tax as long as the company trades and is managed and controlled from outside of Israel.

Details regarding beneficial ownership are not a matter of record but can be demanded by the Israeli tax authorities or by Israeli court order. Bearer shares -- a current bette noire of the OECD -- are permitted.

There is no minimum set for authorised or issued share capital. Private companies are not required to file their accounts with the Companies Registrar.

Only one director is needed; he/she may be of any nationality and does not have to reside in Israel. Corporate directors are permitted, and a company secretary is not mandatory.

Israel has no exchange controls and it enjoys a sophisticated banking system.

Even though some will be discouraged by the political situation, Israel definitely does offer low-profile, tax-free companies, together with a relatively high degree of privacy. Israeli companies also enjoy a good reputation with overseas banks; Israel, after all, does not suggest tax avoidance and tax havens in the minds of most.

Israel is somewhat bureaucratic and a good local guide is essential if your new company is to be formed swiftly.

 



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