Euro Tax Haven \'Apocalypto\' Opens Door To Guatemala

More commonly recognized for its ancient civilization history of the Mayan Empire, Guatemala has far more lately turn into the focus of the worlds wealthy, who are beginning to look beyond the European tax havens of Switzerland, Andorra and Monaco following recent political debates at the European Parliament in the Brussels.
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Troubles are brewing between the tax havens, Euro officials and resident people who have for years, taken advantage of the tax rewards of company and individual offshore accounts in the neighbouring principalities. Member governments such as Germany have wanted to close the tax loop-holes that permit their citizens to cross the border into Liechtenstein to steer clear of taxes. Lately, the Germans went one step further and allegedly paid an employee of the LGT Group, (a Liechtenstein Bank owned by the royal family members), to steal the account holder data of its customer base. Thoughts are, that if a government is willing to go to these lengths to acquire facts on its citizens attempting to avoid taxes, what will be next!

1 of the beneficiaries of the scenario could be the central American country of Guatemala who like their close neighbours Panama, have seen a resurgence of interest in offshore companies and offshore trusts because the E.U. began tightening its laws.

Guatemala sits in central America, with Mexico and Belize to its northern border and El Salvador and Honduras to the south. Recognized very best for the Mayan civilization and its ruined cities and pyramids depicted in Mel Gibsons\' recent film \'Apocalypto\', the native population has been the victim of several periods of violent unrest over its 12, 000 years of history.

Many of its native individuals had been wiped out by epidemic following the Spanish occupations of the 16th century when significantly of central America came under the rule of Hernan Cortes. In much more recent years, a thirty five year old civil war finally ended in 1986, but not before a period of genocide was committed against the indigenous population. Given that 1986 and these 1st totally free elections, Guatemala has slowly regained her recognition as a free of charge and democratic state and retaken her place amongst the international community of trade and commerce.

With a lot of similarities to its neighbour Panama, Guatemala has quite strict privacy laws, generating offshore trusts a specialty of its contemporary banking program. In a Guatemalan trust agreement, the trustees, (those entrusted with the assets), are the Guatemalan law firm. The attorney/client privilege in Guatemala is encased in stone and underwritten by the courts who protect corporate and attorney rights above all else giving a privacy element to the arrangement that would be difficult, if not impossible to penetrate. Combine this with the tax regime of not taxing offshore transaction income and Guatemala has all the needed credentials to present safe and secure tax haven to those searching beyond the as soon as acceptable destinations now coming under fire.

Add to this, the stability of government and the use of English and Spanish as languages of trade, (Spanish becoming the recognised language), and Guatemala could finally be seeing a lot far more flights from Europe to its shores, as those when reliant on the havens of Europe make their way to far more secure destinations.