|Shackelford Melton McKinley Attorney Dan Baucum says Offshore Accounts Can Be Useful Business Tools|
|October 17, 2012 7:22 am|
The offshore investment strategies of corporations, as well as presidential candidates, have dominated recent headlines, with most implying that there is something not quite legal going on. However, according to Dallas attorney Dan Baucum of Shackelford Melton & McKinley, modern offshore business deals are neither tax evasion schemes nor ways to avoid creditors. "Foreign companies seeking to acquire or merge with companies in North, Central and South America often create holding companies in tax-neutral countries such as the Cayman Islands that have stable governments, developed infrastructures, financial centers, and well-established legal systems based on English common law," says Baucum, a former special assistant to the IRS associate chief counsel. "International businesses often make use of holding companies in tax-neutral jurisdictions to avoid exposing themselves to potentially unfavorable tax laws of a country where they want to do business." For more information, contact Rhonda Reddick at 800-559-4534 or firstname.lastname@example.org.
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