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The use of offshores’ charts is not the exceptionally modern phenomenon. When ancient Athens entered the 2% import- and export-tax, the Greek merchants started making detour in twenty miles to avoid payment of these taxes. The milliards of dollars of European riches were kept out of harm's way in Swiss banks in the Second World War-time. Lately other countries entered in force laws about secrecy on appearance and similarity Swiss and began compete bringing in international capitals.

Off-shore charts are based on the use of the possibilities given by made agreements about the exception of double taxation. In Russia, for example, it has got considerable development of practical worker of the use of offshores’ companies for international investments. Branches and substructures are created in combination with the largest domestic financially-industrial groups and corporations. In the everyday’s activity the last use plenty of offshore-firms.

Russian Laws

 

In Russian approvals for all such operations are obligatory, because in Russian business practice there are a lot of restrictions towards operations with offshore-companies. Control is performed by the central bank of Russia, Government of Russia in the person of Federal service of Russian Federation on the currency and export control, by the Statutory custom broker of a Russian Federation, which have a right to the penalty of foregoing sums of fines and other approvals from legal entities, - in an indisputable order, and from physical - in judicial.

Even in 1994 the Central Bank of Russia declared negative attitude towards registration by Russians the companies in areas with favorable tax treatment in a letter "About the order of realization of the operations related to motion of capital", widespread on October, 25, 1994.

During the last years the state took also other measures for limitation of the use of offshores for the illegal export of capital. In particular, Central Bank of Cyprus was suggested to be advised from Russia at the decision of questions about delivery to the Russian firms of license or permission to score. A similar requirement was rejected by The State bank of Cyprus. From point of their bankers, such practice would undermine the competitiveness of Cyprus in bringing in financial business.

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