Generally speaking, a tax haven is a jurisdiction where taxes are either applied at a low rate or not at all. Well-known examples include Panama, Belize, the Seychelles, the Cayman Islands, the Isle of Man and Hong Kong. It is widely recognised that in the modern, dynamic business environment, with many countries collaborating to create an intergovernmental tax-monitoring system, it is becoming more and more difficult to achieve your corporate and personal goals. Reducing the volume of applied taxes and securing confidentiality aren’t the only advantages of setting up an international company on tax-friendly territory. Although tax planning is one of the major advantages offered by certain kinds of international company, the chance to greatly reduce business expenses and maintenance costs is also a very attractive benefit.