Successful wealth builders (SWBs) are often said to have secret and confidential ways of raising money they need for their business deals. One way that people sometimes talk about is the use of offshore tax-haven banks and financial institutions. Let’s look at these.
Ofishore tax havens are used by people in various countries to shelter income from taxes in their own country. The offshore tax haven is a completely legal and accepted way of sheltering income from taxes — provided all the local and international laws are obeyed. And most firms and people using offshore tax havens do comply with the laws in their own country and in the tax haven.
Tax Haven Loan Benefits
Getting money from a tax haven:
- Is often easier than from local sources
- Can be faster than from local sources (but isn’t always)
- May be easier for unusual products
- Usually involves fewer people
- Can usually be done remotely
Where would you look for tax-haven sources?
There are a number of tax havens around the world which are used by large firms, individuals, and some small firms. Locations include:
- The Cayman Islands
- Nassau, The Bahamas
- Bermuda
- Panama, in the Canal area
- Liechtenstein
- Switzerland
- Certain Pacific islands
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Proven Steps to Get a Tax Haven Loan
To obtain money from tax-haven sources you can take a few proven steps which have worked for SWBs in various countries and areas.
Note that in listing these steps we are not recommending the use of tax havens to reduce your taxes. Instead, we are showing how tax havens can be a source of loans or equity capital for you in your own country. What we have in mind is the use of tax savings others made in a good business by you. You are putting tax savings to work through these steps:
- Get a list of tax haven banks and financial institutions in the area you are near
- Write each tax haven, outlining your project and the amount of funding you need
- Give details on how the financing will be repaid, and the timing of the repayments
- Furnish info on who you are, and the people who will be helping you
- Supply photos, drawings, and other data that might help in the decision
Try as many tax havens as possible
Why? Some may not be lending at the moment you apply.
Others may seek different types of projects.
To give yourself a greater chance of getting the money you seek, try as many havens as you can.
And try to remember these facts:
- Most tax havens seek loans of $100,000 and up; smaller loans do not bring in enough income
- Real estate and other business loans are the only types considered by many tax havens
- Do not try a tax haven for personal loans, these are not made by many tax havens
- Be businesslike in all your dealings with every tax haven — it can mean acceptance
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