Most of the tax havens have a double monetary control system which distinguish residents 642-446 from non resident as well as foreign currency from the domestic one. In general, residents are subject to monetary controls but not non residents.
A company, belonging to a non resident, when trading overseas is seen as non resident in terms 640-863 of exchange control. Therefore, it is possible for a foreigner to create a company in a tax haven to trade on an international basis. The company’s operations will not be subject to exchange 640-816 controls as long as it uses foreign currency to trade outside. On the other hand, if the country does not have a stable currency , the authorisation to transfer profits and assets in convertible currency would not be granted.
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