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International Business Corporations (IBCs)By William CatePublished October 1999[http://home.earthlink.net/~beowulfinvestments [http://home.earthlink.net/~beowulfinvestments/globalvillageinvestmentclubwelcome/]Most American Multinational Corporations operate outside the Statesas an IBC. If you call their export division, you'll find that you aretalking to someone in Zurich or Nassau. The reason is that using an IBC tosell their products or services overseas saves the company on taxes.Had the 19th Century founders of these icons of American Industryforeseen the 20th Century Western tax revolution, Switzerland would havebeen the home of American industry. Since WWII, Swiss Tax legislation makes Switzerland a poor choice for an IBC. But, if you follow my public company strategy, you need only worry about the next Decade, not the next hundred years.Professional money trades through IBCs. New hot shot stock brokerssee that the money appears to be located in Geneva, St. Vincent, Douglas,etc. They save their money for a trip to visit the IBC investors in Europe,H. K, or the Caribbean. They may have a great vacation. They never find theinvestors. To find those investors, they should have gone to Houston,Miami, New York, London, Toronto and other cities where stock marketprofessionals live.Public companies with a global market for their goods or servicesare worth taking public. It's wiser to incorporate the global company in aCaribbean tax haven than in Delaware, Nevada, or Ontario. Your tax havenincorporation won't reduce your corporate taxes on income your companyearns in Canada, the United States or Germany. It will reduce yourinternational tax obligations. If you doubt me, review the audits of anyAmerican multinational corporation trading on the New York Stock Exchange. You can find their audited financial statements at the U. S. Securities and Exchange Website.Owning the insider stock of a public company through an IBC makessense, if you aren't part of the "Pump & Dump" crowd. If your tax haven IBCholds the stock for several years, the tax consequences are no differentfrom your holding your stock without selling it. However, at the point ofeventual sale, if your plan is to live out your life in a tropicalparadise, you can legally save on your taxes. This statement is truer forCanadians than Americans, but an IBC will save you tax dollars.If you are going to trade stock for a living, you are better offtrading it through an IBC. Let me cite one example. Under Canadian(Provincial) Securities Law, a Canadian resident can't receive the stockdividends from an American spinoff. Canadian residents are paid twoCanadian cents (C$0.02) for each share of stock they would have gotten. Hadthey lived anywhere else in the World, they would get stock worth dollarsper share. The stock is worth hundreds of times more than the Canadian cashpayment. Assorted laws in many jurisdictions ensure that professional stockplayers trade through an IBC.If you want an example of the widespread use of tax haven trading,the VSE objected to the Standard Charter Bank (SCB) in Nassau several yearsago. The objection was that this British Bank seemed to be an inside traderin many VSE stock scams. In fact, the SCB had no interest nor involvementwith the VSE. They did have VSE stock promoters as clients. These clientstraded VSE stock through the SCB.Do you have a reason to form an IBC, now? If you want my help, I'llbe leaving November 1 for my biannual two-week IBC trip to the Caribbean. Iform IBCs for clients. I oversee the IBC process to ensure that thepaperwork is handled quickly and efficiently. This ensures that the processin completed on time and on budget. To contact the author: Visit the Beowulf Investments website: [http://home.earthlink.net/~beowulfinvestments/] Or, visit the Global Village Investment Club Website:[http://home.earthlink.net/~beowulfinvestments/globalvillageinvestmentclubwelcome/] Article Tags: International Business Corporations, International Business, Business Corporations
International,Business,Corpora