I've just had the following email shared with me:
------------
The Republic of The Gambia has launched a new offshore/onshore business jurisdiction which offers the complete range of corporate structures such as IBCs, Trusts, Tax Resident companies as well as Gaming, Banking and Insurance Licences. The registration of corporate structures can be achieved online in less than 30 Seconds. All administration of the companies is managed online via an online cloud portal managed by the iCommerce Registry Agency.
In addition to the Registry, the development of Global Enterprise Zones has made The Gambia one of the most attractive business environments in terms of tax incentives and infrastructure in the world. Located on the East Atlantic coast it offers many advantages to businesses of all sizes and is an ideal gateway to the rapidly growing African economy.
We are looking to recruit Registration Agents, Trust Agents and other professional service partners who can assist Global and Local Corporations and offer advice on the new jurisdiction. There is no requirement for agents of the iCommerce registry to be located in The Gambia as the incorporation and admin is managed entirely online and in fact the application to become an approved agent is simple and is completed within 24 hours.
Highlights of The Gambia Trust Regulations briefly include
- A trustee can be any standard IBC incorporated in the Gambia
- A special trust like the BVI VISTA can be created, but unlike BVI VISTA it does not require a special company trust company.
Highlights of The Gambia IBC Regulations briefly include
- A standard IBC incorporated in the Gambia is offshore and tax free.
- A special licence allows the IBC to become tax resident and access tax treaties.
- For Tax resident companies taxation is on a territorial basis, there no tax on corporate income, generated from sources outside of the Gambia
- No Audit is required for non-resident companies and audit exemption is easily available regardless of turnover for tax resident companies on application
- The Gambia IBC companies have already been approved by the compliance departments of most major banks
Further benefits of the jurisdiction and its online registry service is available on our website:
www.icommerceregistry.com
Our support team is available 24/7 to answer any questions you may have and assist in the registration process to become an Agent of the Registry.
Kind Regards,
Business Development Team
| Sales: | +442073997788 |
| Support: | +442073997800 |
Oh dear, the tax haven world marches on.
But what I especially liked are those last phone numbers, indicating a base in central London.
Now how could that be?
Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:
You can subscribe to this blog's daily email here.
And if you would like to support this blog you can, here:
Buy me a coffee!
Apart from anything else these tax-havens put companies and individuals which do not use them at a disadvantage to those which do .
It’s profoundly depressing that the growth industries in London over the past decade have been money laundering and tax avoidance bordering on evasion .
Another way for the City to screw the developing world.
Telephone numbers don’t tell you anything. Anybody can have a telephone number anywhere in the world, you can set them up in moments and it doesn’t require any specialist skill.
For example:
http://www.vonage.co.uk/phone-numbers/international-virtual-phone-numbers/
The only conclusion you can draw from the telephone number is that they expect to receive calls from people based in the UK and are making it easier for them.
Maybe
Maybe not
It does show their audience
And that is as telling
Any information on whose been advising The Gambia with this new venture, Richard?
No, none
And I have asked around
Aren’t the people of Gambia already being ripped of by extractive industries such as diamonds and iron ore? Local people virtually living on the stuff gain nothing from it whilst the companies (run by non-locals) are listed on stock exchanges in London and new York – again wealth is vacuumed away from needy communities. More rentier money. Absolute fascism!
As a Gambian National who is working on the Enterprise Zone Project I find the condescending attitude in this thread appalling.
It is true that Gambia is primarily an agrarian economy but we have talented people who are bringing benefits to our country.
The Enterprise Zones were created to attract global businesses to setup in The Gambia and the tax regime is attractive and in line with many countries.
All of the investment in the Enterprise Zones is by private companies, not the government.
We have already attracted 2 outsourcing companies from the Indian sub-continent.
Aziz Kebba
Respectfully, all the arguments for tax havens are now completely bankrupt
And anyway what you describe is not what is being advertised
Aziz – I’d like to know how the extractive industries are helping the poor of Gambia who literally live on top of the iron ore and diamonds -will the wealth be creamed off by a few and laundered on the stock exchanges of America and Europe?
Looks like they are based in Gambia
http://www.icommerceregistry.com/contact_us.htm
Firstly thank you for letting me participate in your discussion group.
I would just like to correct a misapprehension, Gambia does not have any significant mineral resources so there are no extractive industries. Our main industries are agriculture and tourism.
The Enterprise Zones are designed to create new value added industries in Gambia such as call centres. Our main partners are Chinese and Indian companies.
We would off course welcome investment from other countries including Britain which we have historical ties.
About the tax incentives, I think you will find it is similar to many regions in Europe which have enterprise zones such as Northern Ireland.
I can understand that people are concerned that companies will be attracted to the most favourable tax regime but I am afraid that is already happening and The Gambia has to compete in the real world.
Aziz
That is absurd
This has nothing to do with enterprise zones
What was referred to was straightforward offshore tax abuse
Do not conflate the issues
Richard