...strative costs. Sending your business offshore is a perfect way to optimize these expenses and pay more attention to the business itself. For example, you can set up an IBC in offshore jurisdictions for $700 USD only! Low company formation costs in overseas territories help them to attract more businesses. Also, there are many countries where you do not have to have a physical office or localof e...

...rence**. He mainly addressed his speech to his counterparts in the British government. As already known, “UK Sanctions and Anti-Money Laundering Bill” was passed by the House of Commons in the beginning of May, which would require the UK's 14 overseas territories to introduce public ownership registers by the end of 2020. Mr. Inniss also noted that many countries in their region had been...

...e Minister of Industry, International Business, Commerce and Small Business Development, Donville Inniss, at the STEP Conference. Recently, it was announced that the **British Virgin Islands (BVI)** and the **Cayman Islands**, two of the British overseas territories, are making preparations regarding the **launch of legal challenges to the UK government’s plans to enforce public registers li...

The **confrontation between UK and its overseas territories** is one of the most controversial topics for now. This is due to the fact that each side of the conflict has its supporters and opponents. Organizations and individuals, committed to transparency and fighting poverty, call on the UK government to clamp down on tax havens. They believe that greater transparency would help these count...

...irm, stated the following: *“This is the most significant threat to the existence of offshore industry since the late 1990s”,* Similar laws, that require physical presence of the employees, were introduced by the UK Crown Dependencies and overseas territories: i.e. the Bermuda Parliament is currently considering the respective bill in its second reading on December 17. Before the end of...

...rgin Islands. The Prime Minister of the BVI, Andrew Fahie, stated that the BVI will not introduce public registers of company beneficial ownership until it is a global standard. **In May 2018, the UK Parliament passed a law according to which overseas territories of United Kingdom (for example, the BVI and Cayman Islands) by 2020 shall create public registers of companies' owners registered...