ENCOURAGING GLOBAL ENTREPRENEURS:
LIVE LIKE A KING IN AN EXCLUSIVE VILLA IN A TAX HAVEN
A tax haven is an offshore financial center, country, or jurisdiction that offers an opportunity for corporates, businesses, and individuals to avail the benefits of minimal or ZERO tax liability while operating within its physical boundaries. The significant benefit of operating in the tax haven is that the businesses need not operate out of the country to receive tax benefits. If you are an individual business owner, you will receive your tax exempt residence card, however you need not to reside in the country all year around to avail tax benefits.
We at BancorpTrust are taking one step further to the conventional operation through a tax haven. After 30 years of experience, BancorpTrust extends its services from the traditional financial space to Blockchain and develops Blockchain DigitalCity - A Tax Exempt Executive Community In Paradise. With this project, we encourage global entrepreneurs and empower freedom worldwide by allowing them to reside in this exclusive business community in Puerto Plata, on the North Coast of the Dominican Republic. By acquiring a land parcel and an executive villa, whilst enjoying the perks of a tax haven and additional benefits from BancorpTrust.
NOTE: This is an exclusive business & residence community and limited to only 30 global entrepreneurs!! Our tax-exempt Executive Villas feature breath-taking ocean views and offer from 1,430 square meters (15,386 square feet) up to 2,190 square meters (23,564 square feet) of living area plus 4,000 square meters (43,040 square feet) up to 6,000 square meters (64,560 square feet) of land including your own Helicopter Pad and a Guest Villa of 450 square meters (4,842 square feet). If only THE BEST is good enough for your taste, you will certainly want to be part of this exclusive tax-exempt business community.
HOW IS THE TAX HAVEN STRUCTURE DESIGNED TO BENEFIT BUSINESSES AND INDIVIDUALS?
In the tax haven, you can work in association with the country’s local institution and avoid paying taxes on capital gains or profits in the home country. The tax haven structure is so designed that business owners, corporate or wealthy individuals save on their finances by avoiding paying higher corporate taxes or income taxes otherwise levied in their home countries.
Additionally, many tax haven countries do not furnish financial details outside their geographical border to other financial authorities. It adds to the privacy factor of businesses' profits made within their boundaries.
PROS OF TAX HAVEN INVESTMENTS FOR BUSINESS ENTREPRENEURS
Shifting profit to avoid taxes results in declining the federal revenue generated from corporate profits. According to the Americans for Tax Fairness report, shifting corporate profits to tax haven has considerably reduced Federal revenue (only 1/10 of federal tax revenues is earned as corporate taxes) earned through corporate profits and associated corporate taxes.
IS SHIFTING PROFITS TO TAX HAVEN TECHNICALLY ILLEGAL?
No, shifting businesses and individual wealth to a tax haven are perfectly legal. Businesses and wealthy individuals benefit from this tax loophole by avoiding paying taxes on foreign profits, generally not brought back home.
In America, offshore/foreign profits are deferral, not taxed until they are within the offshore boundaries. Also, the liberty to keep the profit offshore as long as desired adds to the incentive of tax haven investments.
HOW DO TAX HAVEN COUNTRIES BENEFIT FROM CORPORATES OR INDIVIDUAL INVESTMENTS IN THEIR BOUNDARIES?
Tax haven countries benefit from the capital investment made within their boundaries. Their banks and financial institutions receive the capital, which is further used to build their thriving financial sector that strengthens their economy.
Businesses or individuals benefit by saving tax (usually tax liability ranges from zero to extremely low single-digit); they are never willing to withdraw their profits from these countries.
SOME COMPANIES BENEFITING FROM TAX HAVEN INVESTMENT
Utilizing the benefits of Ireland as a tax haven, Apple has booked an offshore margin of $214.9 billion.
With Bermuda as its tax haven, Nike has accumulated $10.7 billion offshore.
3.) Goldman Sachs
Bermuda, as a tax heaven, the company has an offshore holding of $28.6 billion.
BENEFITS OF LIVING IN TAX HAVEN EXCLUSIVE VILLA’S OFFERED BY BLOCKCHAIN DIGITALCITY
Besides providing the benefits of significant tax reductions, tax havens offer numerous other advantages.
Let’s explore the list: -
1.) Privacy and non-disclosure
Offshore tax havens are an advantageous venue with a greater level of privacy and non-disclosure. With fewer reporting or auditing requirements, and public non-disclosure of company's or individuals' information, tax havens are the top choice for financial confidentiality. It enables higher assets and wealth security from lawsuits, divorce, seizures, and authorities prying on profits or capital gains of businesses and individuals.
2.) Financial environment conducive to setting up financial vehicles
Offshore tax havens are structured to facilitate the setting up of any financial vehicle in an easy, simple, and quicker timeframe. Companies can be incorporated sometimes within a week, availing the benefits of low registration costs. The entire process can be handled remotely with few reporting requirements and no exchange control in many jurisdictions.
3.) Enhanced asset protection
There are no Tax Information Exchange Agreements (TIEAs) in most offshore tax havens with the US or the EU. The absence of agreements offers enhanced asset protection for the investors as their assets are never under scrutiny for tax avoidance.
4.) Tax benefits
Tax reduction is never a minor consideration for western nations to progressively invest in tax havens. Investing in tax havens is the legal pathway to minimize tax liabilities such as no capital gains tax, inheritance tax, personal income tax, etc.
SOME ADDED PERKS FROM BLOCKCHAIN DIGITAL CITY ARE:
Establishment of your investment banking fund
Certificate of investment bank/trust license,
Certificate of good standing,
Articles of incorporations,
Our service fees for 1 year,
E-wallet private label payment system
30 years of structural warranty to ensure your new executive Villa lasts for generations to come.
TAXATION IN THE DOMINICAN REPUBLIC
Dominican tax law is primarily territorial. In principle, the Dominican Republic only collects taxes on income from Dominican sources. Thus, on the one hand, all income derived from work or business activities in the Dominican Republic is taxable, no matter if the person is Dominican, a resident or nonresident foreigner, a Dominican business entity or a foreign company with or without a branch office in the country. On the other hand, income derived from work done outside of the Dominican Republic is not taxable, even if received by Dominican nationals or companies, foreign individuals residing in the Dominican Republic or foreign companies with branches in the country.
Pensions and social security benefits are expressly exempted, as well as income received by investors who became residents under the special provisions of Law 171-07.
DOMINICAN REPUBLIC TAX HAVEN AND SECOND PASSPORTS
Although the Dominican Republic is not typically regarded as a tax haven, that is actually one of its attractions. Unlike traditional offshore centres, it has not been under pressure from the likes of the OECD, the G20 and the Trump administration. The Dominican Republic has a territorial tax system much like Panama’s, meaning that you can live there and enjoy the beaches tax free, provided your income comes from outside the country. It’s also known as one of the more liberal places for those seeking a second passport or citizenship.
Three Good Reasons to Consider the Dominican Republic for Second Passports and Offshore Investing
The more you learn about the Dominican Republic, the more you will like it and see potential. Learning more was our original purpose in studying its national history. Right now the country has three things about it that would be particularly appealing to our members:
Tax Haven – Dominican Republic has a territorial tax system, meaning that if you live there, you would only be subject to pay taxes if you had local income. You can earn what you like outside the country and you don’t even have to declare it, yet alone pay any taxes. This applies to both individuals and companies.
Second Passports – Dominican Republic is one of the most liberal countries when it comes to granting citizenship through naturalization. After two years of residence, you can ask for a passport. As long as you haven’t done anything to upset the President, he will sign a decree making you a citizen. Absences of up to one year at a time don’t affect your residency status. This liberal naturalization law dates back to 1948, and there is much talk of it changing soon. Dual citizenship is allowed.
Livability – Dominican Republic is a good place to live. First of all, it’s affordable. The tax exemption you get in the Bahamas by buying a half-million-dollar property you get almost for free here. The capital, Santo Domingo, is a modern cosmopolitan city with a beautiful colonial heart. The Spanish colonized it, then the Americans were mainly responsible for the development of the city. The country’s second city Santiago, and the beautiful north coast including the city of Puerto Plata, were only joined by decent roads built by the Americans in the 1920s. Before that, the north was almost a separate country – trading more with the British and Germans. Today there is a substantial American, Canadian, British and German, population up there, and parts where French and Italian are frequently spoken. So, there’s really something for everybody.
Dominican Republic has not been high on the traditional lists of places to retire to, that are hyped on the internet. This might be a good thing. Real estate is good value, it’s relatively easy to immigrate and obtain citizenship, and the business environment is nearly as favorable as the climate!
Reserve your TAX FREE residence today and enjoy our secure & prestigious ocean view, business community in Puerto Plata, Dominican Republic.
BancorpTrust provides customer-centric offerings ranging from opening an investment bank to setting up a cryptocurrency exchange; and from setting your offshore bank to converting cryptocurrency to your fiat. And now, with this extension, we build a business community for like-minded growth-oriented entrepreneurs to connect and grow.
Are you already thrilled to be part of this new and exciting Blockchain DigitalCity project and want to be a proud owner of an exclusive villa in the beautiful Dominican Republic? To see the project under construction, please click here...
Contact us today for a confidential consultation; our experts will assist you within 24 hours.
BLOCKCHAIN DIGITALCITY BANK & CAPITAL TRUST
Tel. No: +1-587-430-2692