Bank insurance shipping company of an offshore society

Shipping company, bank and insurance of an offshore society

Some jurisdictions such as Panama are specially adapted to the management of merchant ships or fleet of yachts. Many offshores jurisdictions have facilities in allowing registration for ships, low registration costs, exemption from tax on income from maritime trade and business charter.

Many banks have established themselves in tax havens, most of them are subsidiaries or branches relocated from the most prestigious banks in the world. These groups can offer financial services and free of exchange controls and taxation. But it is also possible for an industrial, trade or services, to obtain a banking license in order to monitor more closely its international management.

Some jurisdictions are encouraging the creation within them of insurance companies that are exempt from tax on income from their investments. Captives company are also used by large groups to insure or reinsure the risks of their subsidiaries.