|
Notice to US Persons
SPECIAL NOTICE TO U.S.A, U.K. and Canada.
There is likely little or no tax advantage in establishing an offshore brokerage account. Buzz Broker Limited Policy employs a tax compliant strategy and is currently not accepting clients that are residents or citizens of the United States of America, Canada, or the United Kingdom without written acceptance of this Policy.
DISCLAIMER:
Buzz Broker Limited does not provide legal, accounting or tax filing and reporting services. Materials, information or investment advice given by Buzz Broker is not intended as a substitute for professional legal or accounting advice. U.S., Canadian and United Kingdom citizens should be especially careful to seek out and utilize the advice of an appropriate professional with experience in offshore planning as it relates to their tax obligations in their respective country of residence or citizenship. Buzz Broker retains legal counsel and advisory services in the Bahamas only.
Buzz Broker Limited is not a bank, trust company, or merchant processor and does not provide banking, trust, or merchant processing services. Buzz Broker Limited offers investment brokerage and investment advisory services, international company formation, corporate administration and related services, plus an introductory, referral and intermediation service for bank, trust, foundation, and merchant account processing services.
Clients of Buzz Broker Limited are specifically advised and warned that they should seek appropriate and timely tax and legal advice from a qualified professionally licensed firm to render such professional advice before acquiring any offshore structure including a company, foundation, trust, bank or brokerage account.
Clients should also ensure that they are professionally advised on the onerous restrictions and reporting requirements that the acquisition of a company, foundation, or trust may involve.
Tax obligations that arise as a result of residence or citizenship are the expressed responsibility of the client who shall declare this responsibility on establishing an account at Buzz Broker Limited. Buzz Broker Limited, its subsidiaries, employees, consultants, advisors or affiliates are not responsible for the failure of any client to comply with their domestic laws and reporting requirements.
Buzz Broker Limited is a Securities Broker/Dealer licensed and Regulated by the Securities Commission of The Bahamas and a Financial and Corporate Services Provider licensed by the Registrar General of The Bahamas.
"U.S. Persons" (citizens, residents, individuals, companies, etc.) are subject to taxation on their worldwide income. Income earned from a U.S. Person's investments anywhere in the world is included in their taxable income. Holding funds in offshore banks or brokerage houses will not exempt them from this rule. The IRS has a special unit to enforce violations using what they call "Abusive Trusts." Many offshore service providers, including uninformed foreign and American attorneys, accountants, company formation organizations and others propose "offshore plans" that amount to illegal tax evasion. There are however, strategies that can be done legally. Buzz Broker does recommend or provide tax-planning strategies. Advantageous tax planning, tax deferment, tax reduction and tax avoidance strategies should always be undertaken with the assistance of experienced professionals. Shortcuts can lead to serious problems with the U.S. authorities. Strategies that are legal and provide the relief intended must be handled properly, with an eye on the laws of both the U.S. and the offshore jurisdictions involved. This will frequently involve a lawful recharacterization of the legal ownership of funds through a series of legitimate, arm's length, fair value transactions. Suitable offshore planning involves careful analysis and implementation, detailed documentation and hard work. This is harder for Americans, Canadians, and United Kingdom citizens to accomplish, but not impossible.
DUE DILIGENCE:
Due to the national and international regulations on the prevention of criminal activities, money laundering, and terrorism financing, Buzz Broker Limited strictly implements Due Diligence guidelines and procedures. While we respect and honor the confidentiality of our clients, corporate and individuals, we are committed to undertaking thorough due diligence of both our clients' identities and the nature of their businesses. It is our obligation not just to undertake a full and proper due diligence of our clients' and their current needs, but also to monitor and ensure that their business activities do not breech any national and international regulations with regards to money laundering, and terrorism financing. Clients are therefore required to sign particular relevant agreements and disclosure. This formal approach to due diligence benefits both Buzz Broker Limited and our international client base. Buzz Broker reserve the right not to accept any client.
|