of the offshore industry as it was due
to the introduction of:
The year 2020 has seen the true end
Global automatic information exchange.
AEOI – Nearly 100 countries carried out automatic exchange of financial information in 2019. These exchanges covered information sent on 84 million accounts, amounting to EUR 10 trillion of total assets.
Increased costs
The cost of doing cross border business investment and wealth management will increase by more than three % annually.
OECD BEPS
Which means increased review of cross boarder payments by tax and regulatory authorities
Corporate Tax
The advent of a new worldwide minimum corporate tax, which appears to be 13%
Difficulty opening bank accounts for non residents.
A new approach is required…
The Barbados jurisdiction.
Barbados is the only jurisdiction in the Caribbean with a double tax treaty network and an established international financial centre.
This makes Barbados the ideal jurisdiction to base your international business and wealth management platform in the long run.
The Barbados international financial centre can help reduce the costs of international business and wealth management structures because it has double tax treaties with the US and Canada, and is home to a number of international banks and financial services providers
Why Barbados?
The cost of doing international business and investment and wealth management looks like it is going to increase by 15-20% of net profits. Hardest hit will be; International HNWI’s and Entrepreneurs who are managing a net worth of around $100million USD or less.
Problems that HNWIs and Entrepreneurs doing international business and wealth management will face from 2020 onwards:
- Global Automatic Information Exchange – Due to common reporting system and beneficial owner public registries, legitimate privacy and confidentiality is becoming increasingly very difficult to achieve.
- The implementation of BEPS and the introduction of the global minimum corporate tax in 2020, will make international business, investment and wealth management platforms more expensive to operate compliantly.
- Global automatic exchange of information means international tax transparency from 2020. Cross border arrangements will increasingly review arrangements which will increase compliance and advisory costs.
International owner managers and entrepreneurs who base their businesses in Barbados can save time and reduce costs by locating their business, investment and wealth management platforms in one place. Tax treaties will become even more important in protecting long term wealth management.
Jonathan Brathwaite
Jonathan is an international tax lawyer who has been self-employed for over 15 years in the UK and Barbados and has worked with many jurisdictions including Barbados, Canada, Mexico, Brazil, USA, and Switzerland. Jonathan specializes in providing compliant, commercially workable cross-border tax structures for owner managed international businesses, investment funds and private clients utilizing a wide range of cross-border corporate, trust and business solutions. As well as a deep international tax law understanding, Jonathan has managed service teams to deliver the results of advice given.
Jonathan is also a member of the Barbados Branch of the IFA. He is also working on assisting a local school for teenagers and introducing them to the opportunities of international business.
- University of Florida
Doctor of Juridical Science (S.J.D) – In Progress, International Taxation
2016 – 2020 - University of Florida – Fredric G. Levin College of Law
Master of Laws – LLM, International tax law, July 2019
2018 -2019 - BSc Business & Computing;
Brunel University, London - MSc Mathematical Finance;
Imperial College, University of London - Bachelor of Laws – LLB;
University of Wolverhampton - Attorney at law, Barbados
Called to the Bar in England and Wales
Ryan DeGale
Director of Business Development
Ryan DeGale is a serial entrepreneur currently residing in and working in Miami Beach Florida.
Ryan was born and raised in Barbados up until secondary school when he then moved to the United States settling in Miami Beach but never lost his international outlook. Ryan has been an athlete all of his life from track and field to Ju Jitsu. Ryan was a Strength Coach for 10 years before opening Root Cause and has operated as an entrepreneur in Miami beach for the last ten years, culminating in the establishment of his training clinic “Rootcause diagnostics”.
Ryan works with many high stressed entrepreneurs, owners and managers of international businesses, who have Chronic fatigue as well as gastrointestinal issues.
Ryan has been trading and growing his own portfolio of capital for the last five years and actively working with a number of strategic mentors who have worked on Wall Street and like him trade their own portfolio. Ryan’s business development has led him to working with cross-border private equity, with some of his client base of international business owners and also into the world of international tax planning consultancy.
Ryan is an avid reader and golf player.