According to JPM, a Foreign Corporation (FC) can avoid the entire US Federal Estate Tax (FET), but a foreign individual would get clipped of about 40% of his US stocks, bonds, homes, land holdings, and other US situs property by the IRS.
JPMorgan/Chase: “Because stock of a foreign corporation (in a no tax haven) is not subject to U.S. estate tax, holding U.S. situs assets through a foreign corporation constitutes a planning opportunity.”
The Caribbean tax havens have grown to rival New York and London as a place to hold family assets, and the US FET is one reason why there are so many offshore companies there.
480,000 IBCs in BVI;
100,000 “exempt companies” in Cayman;
45,000 IBCs in the Bahamas;
30,000 cos in Bermuda
25,000 IBCs in Anguilla
None of the Caribbean (tax) havens levy an estate tax.
We are a tax consulting and company formation firm located offshore in the sunny, tax free Bahamas since 1990.
◾Anguilla is a UK overseas territory with same tax status as Cayman Islands.
◾All the money and technology to create their offshore registration services came out of London.
◾Anguilla was one of the very first tax havens that adopted an online registry service.
◾QEII is the head of State in Anguilla.
1030 Bahamian companies since 1990
360 Anguilla companies since 2001
Offshore since 1990.