22.12 CAMPIONE D'ITALIA

Campione is one of the world's most unique and least-known tax havens, and a most attractive base for companies looking for a regional headquarters in Europe. Campione is located in the Swiss Canton Ticino on the lakeside of the lake Lugano, about 10 driving minutes from Lugano and 45 highway minutes from Milan. Campione is an Italian enclave in Swiss national and economical territory and is entirely surrounded by Switzerland . There are no border controls so there is complete freedom to pass in and out of Campione. Campione belongs economically to Switzerland and concerning banks, currency, duty, traffic, post (Swiss Postal Code: CH-6911), telephone and telegraph. In contrast with the Swiss national territory there is no problem for foreigners in obtaining the right of residence, if you can prove to have property on a flat or a house etc. It would even be sufficient to prove having rented a flat or a house, but in practice there is virtually no property available for rent, because there is so little of it. The local authorities attach great importance to the fact that registered residents live at least som time in Campione and they control whether or not flats or houses are furnished. From Campione you have a clear and unrestrained operation base in all Switzerland and Liechtenstein. Campione's interest as a tax haven arises from the fact that although its tax law is made within the framework of Italian tax law, there are special regulations for Campione. There are no personal income tax and no municipal taxes at all in Campione as all Campione's income are derived from the Casino. Since banks cannot be established in Campione (according to a Swiss/Italian treaty) it is necessary to use Swiss banks, preferably in Lugano. Thus Campione is a part of the Swiss currency area like Liechtenstein, and all payments and investments are made in Swiss Francs. Campione residents - in contrast with foreigners in Switzerland - are not subject to Switzerland's double taxation agreements which it has with U.S.A., Canada and most of Western Europe. Profits from money, shares, bonds, real estate and other transactions on a Swiss or international basis are not registered for tax purposes for Campione residents as long as they are passing through Swiss banks.
(Courtesy of the Baltic Banking Group).

Find the contact names, addresses, numbers and information for local government offices, banks, accountants, company formation services, investment and management companies, advisors, experts, maildrops, real estate agents and other useful local contacts in the THE OFFSHORE MANUAL & DIRECTORY .

22.13 CAYMAN ISLANDS

The Cayman Islands are a group of three islands in the Western Caribbean. This is one of the most well established of the Caribbean jurisdictions with a very sophisticated legal and banking infrastructure. It has recently made legislative changes to provide for greater flexibility but is still expensive in comparison with other Caribbean jurisdictions. There are two types of companies: non-resident and exempt. A non-resident company must end with the word "Limited" or "Ltd."; an exempt company has no restriction except that words such as "Bank" and "Insurance" are restricted. Capital duty payable upon incorporation is US$500 and US$427 respectively. Exempt companies are taxed at a flat rate of US$500 per annum and may obtain a guarantee against imposition of any future taxation for 20 years. Non-resident companies pay US$427. Bearer and no par value shares are permitted except that non-resident companies can not have no par value shares. One corporate director may control the company from any jurisdiction and only a registered office in Caymans is required. A resident agent is not. The public file only contains the address of the registered office and a copy of the memorandum and articles of association. No accounts need to be filed but a limited report is required. Exempt companies must hold one directors' meeting per year in the Caymans.

(Courtesy of the Baltic Banking Group).

Find the contact names, addresses, numbers and information for local government offices, banks, accountants, company formation services, investment and management companies, advisors, experts, maildrops, real estate agents and other useful local contacts in the THE OFFSHORE MANUAL & DIRECTORY .