Do you wish to set up and run your onshore or offshore business? We offer you a one-stop shop for company formation, international tax advisory and bank account opening assistance. We will save your time and money and arrange all business administration for you.
Sit back, relax and focus on growing your company. We will be your discreet trusted advisor. With more than 20 years of international experience we are confident to provide you with the best tailored corporate services for your business.
Benson Formations brings you bespoke onshore and offshore company setup.
Law guides us in all we do. We respect and breath it truly.
Jurisdictions vary so we build on our global experience.
Your matter will be solved by local experts.
Your particular case will be managed with flexibility and agility.
Basically, tax evasion is illegal and tax avoidance is a legal mitigation of tax. Tax evasion means breaking the law by paying less tax than one is legally obliged to pay, e.g. by filing an incorrect tax return on purpose. In contrast, tax avoidance is doing everything possible within the law to reduce the tax bill. On this note, there is famous quote of Learned Hand, an American judge worth mentioning: “There is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible – nobody owes any public duty to pay more than the law demands.”
A politically exposed person (PEP) is a term used for person with actual or former ties in politics or public office, it refers to someone who has been appointed by a public institution, an international body or a state to a high-profile position within the last 12 months, basically an individual who is or has been entrusted with a prominent public function.
As clients, PEPs generally present a higher risk for potential involvement in illicit or unlawful activities such as bribery and corruption by virtue of their position and the influence. Hence, an enhanced KYC due diligence applies to for such persons and their family members to manage and mitigate such risk.