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Offshoring: it’s the tax secret of billionaires that you can use. When I first discovered this tactic years ago my mind was blown. Not that I didn’t know that people weren’t using tax offshoring, but that I could have access to it as well.
You’ve probably heard about Swiss bank accounts, of companies locating their legal business operation in a foreign country. Simply put, this is called offshoring. And in this video in particular, I’m going to talk about the process of offshoring a company you own to legally lower your tax.
Some people don’t like this subject, which I still think is strange. My aim isn’t to stop all of us paying no tax at all. It’s about creating a more level playing field between average people like you and me, and enormous global companies who pay little to no income tax.
I hope you enjoy this video, let me know your thoughts below.
Why you should never do business as yourself: https://youtu.be/Nk4RelwQPd4
0:00 – Introduction
0:53 – A note on legally reducing your tax
3:16 – What is tax offshoring?
4:07 – How companies use tax offshoring
5:15 – Who is tax offshoring for?
7:42 – Offshoring for holding assets and investments
8:35 – Setting up an offshore company
10:33 – Problems with tax offshoring
13:03 – It can get complicated
13:54 – Outro
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