Thoughts on the Tokelau Islands?

[BritishSecret]

No. It does not matter there your accounts are. The matter is where your company is controlled from.
Most people try to open accounts in europe to have international euro payment capability. Which is very convenient.

So a Cayman Islands company can basically have bank accounts anywhere in the world? It doesn't matter having bank accounts in the actual Cayman Islands themselves?

 

[jesuschrist]

So a Cayman Islands company can basically have bank accounts anywhere in the world?

If it's structured as an investment fund I think yes you have better chances opening a bank account anywhere, but if not a Cayman company has almost the same chance as any other offshore company.

As I know opening and operating a company in the Caymans is more expensive than other locations, but the main advantage is that the Cayman Islands is full of banks and you can open local accounts.
Other jurisdictions usually has only a few banks in the country, and many times they don't even allow their offshore companies to open accounts in their local banks.

But for example in the non-EU part of the Balkans you can open accounts probably even for a Vanuatu company, if you know the right people in local branches.

 

[JimBeam]

Tokelau is not really a tax haven in the same way for example BVI, Belize, or Seychelles. There is no streamlined process of incorporation. There are no service providers incorporating hundreds or thousands of companies per year.

Sorry for the oftopic but they are a nation of only 1.411 people. I guess you could easily bribe the decision making persons there and make it a tax haven. Even giving a donation of $1k to every man in country would cost just $1.4M and that's nothing for some people

Just kidding: I wouldn't go anywhere near that place.

 

[Sols]

Sorry for the oftopic but they are a nation of only 1.411 people. I guess you could easily bribe the decision making persons there and make it a tax haven.

And that's how you get tax exempt status for your company.

 

[JohnnyDoe]

And that's how you get tax exempt status for your company.

Ok but first you need to organize and win with 2/3 of the votes a referendum on independence from New Zealand without the UN observers objecting (so you also need to bribe them).
Perhaps it would be less expensive to declare war against New Zealand.

 

[Sols]

Ok but first you need to organize and win with 2/3 of the votes a referendum on independence from New Zealand without the UN observers objecting (so you also need to bribe them).
Perhaps it would be less expensive to declare war against New Zealand.

First we take Tokelau, then we take New Zealand.

IIRC, Tokelau has a degree of independence from New Zealand comparable to Isle of Man or BVI to the UK. You wouldn't need to declare full independence. AFAIK, Tokelau can issue tax exemptions to companies without New Zealand's approval.

 

[JimBeam]

First we take Tokelau, then we take New Zealand.

The Tokelau comes with .to domains.
They were popular 10-15 years back but could be a good business once again.

 

[Sols]

The Tokelau comes with .to domains.
They were popular 10-15 years back but could be a good business once again.

.to is Tonga. Another Pacific island nation we can absorb after Tokelau. They never had public whois databases, so they have been a popular choice for privacy minded websites.

Tokelau is .tk, which used to be freely available but they have stopped registering them now. Too much spam and I believe Meta sued them for some sort of trademark infringement.

 

[BritishSecret]

No. It does not matter there your accounts are. The matter is where your company is controlled from.
Most people try to open accounts in europe to have international euro payment capability. Which is very convenient.

So a cayman company with a London bank account has access to GBP but doesn't have to pay UK corporate tax?