Offshore Company, Banking & Cryptocurrency

Incorporate business in Panama in an independent offshore jurisdiction and if you are one among them then you need to consider the option of Panama Company which can be incorporated under the corporate legislation. Name of Panama company can be chosen in any language but it needs to have the legal endings like corporation, incorporation etc. Name needs to be unique and it must be different from already reserved or existing names. It is necessary for the Panama companies to have registered office address and an agent who is law firm or an attorney. Head office address can belong to any other country. Shares of the company can be given to other companies and individuals even if they are not residents of Panama. Minimum 1 shareholder is...

An electronic money institution is responsible for a single financial product – electronic money. This type of money can be used for all kinds of transactions, including enterprises from all industries – other than the actual electronic money institutions. Obviously, such institutions – often referred to as EMIs – have to respect some regulations and are similar to banks from many points of view. There are plenty of them out there, but only some of them can provide high quality standards and exquisite security. Before getting into small details, it pays off understanding the principles of electronic money. This monetary value is not stored physically, but magnetically or electronically. An EMI stores such value into a central...

When it comes to traditional banks, all you can imagine is clean and posh buildings, as well as good-looking people dressed in suits and elegant dresses. Then, things may often go wrong – lots of paperwork to do anything, as well as ATMs giving you all sorts of errors. However, a new wave of banks aims to change all these things. The so-called fintech – financial technology – startups tend to change the way people bank. Also known as neobanks, these financial institutions tend to overcome all the stereotypes in the banking industry. Most importantly, they operate in a digital manner. They offer low fees, better experiences and a seamless online venture. Now, before digging into deeper details and providing some names regarding the...

Breaking down and better understanding the legality of offshore bank accounts When most will think of offshore bank accounts they think of these shadowy corporate entities and greedy CEOs that are looking for new ways – and new shelters – to hide their money in so that they don’t have to foot the same kind of tax bill that everyday citizens like you and I have to pay every year. And though there are certainly a fair share of greedy people out there that leverage offshore bank accounts for exactly that purpose (and probably a lot more than you would ever of imagine), the truth of the matter is that offshore bank accounts are just like traditional bank accounts – except they offer significant benefits and advantages that you would...

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THERE IS NOTHING INHERETLY ILLEGAL ABOUT OFFSHORE BANKING Most of the stigma that surrounds offshore banking is attributed to questionable personalities who use it as an avenue to hide their illegally sequestered funds, wealth or taxable property and/or to evade paying high taxes that come with having great assets. Transferring funds to holding companies outside your country of residence is not technically considered an immoral or illegal act despite that fact that its existence might have been inspired by these unlawful activities in the first place. It is not criminal to open offshore accounts if you yourself do not intend them to be. Howver, it does entail bad business not necessarily for you but for local banks and local...

A Deadly Mistake Uncovered on How to Get a Power of Attorney and How to Avoid It There are various kinds of Power of Attorney used in the States. In the instance of the overall power of attorney, the agent does not have any restraints whatsoever. The individual or organization was chosen, should be an individual or organization which will not abuse the power that's been given to them. Examples of the trigger include as soon as the principal reaches a specific age, a specific calendar date, or when a doctor certifies the principal is now incapacitated. A health power of attorney is comparable as it appoints someone to make decisions regarding your health care. To begin with, don't pick the attorney only because she or he charges the...

Everything You Should Know About Getting an Offshore Bank Account Across the World There are so many misconceptions about having an offshore bank account that you barely know what to believe. If you are new to this industry, chances are you associate offshore activities with the numerous scandals involving celebrities over the past years. Some may see offshore accounts for savvy businesses, while others find them more suitable for shady accountants. The truth is you do not have to be a millionaire to open an offshore bank account. You do not need to run a particular business or operate in a specific field. A bit of research, finding the right bank and the right documents can give you access to private banking in another country within...

IT ISN’T CRIMINAL TO HAVE AN OFFSHORE BANK ACCOUNT Contrary to popular belief, you won’t get in trouble with the law for opening your own offshore bank account to transfer some or most off your assets there. The process can get very complex however and if you don’t follow the set rules and regulations you may face some serious consequences. Misconceptions surrounding offshore banking are further fuel by criminal activity in the form of high stake tax evasions and money laundering lawsuits. So in truth, the only way for offshore banking to be considered criminal is if you intend it to be. Other than that, it gives you loads of benefits. WHY DO MOST PEOPLE OPT TO MANAGE THEIR FINANCES OFFSHORE? Offshore banking is actually a very...

Breaking down how offshore bank accounts actually work More and more people are getting interested in the idea of leveraging offshore banks and offshore bank accounts these days, and it’s easy to see why. After all, following the economic collapse of the mid-2000s that the global community is still trying to dig out of almost 10 years later things aren’t exactly sunshine and roses when it comes to the financial stability of traditional banking options. Combine that with horror stories on the news about governments (including the United States) seizing assets from her citizens and then charging the assets with crimes so that they can take money without any recourse – and that’s just the tip of the iceberg – and you’ll begin to see...

PayPal gained some reputation as one of the leading online payment platforms in the world, whether it comes to people making donations, freelancers or companies. There are different types of accounts and lots of options to set everything correctly. However, PayPal has its flaws as well. Personally, PayPal's high fees pushed me away. Besides, communication with the provider is not always the best, especially if you live in other countries than the USA or the UK. Now, PayPal's merchant account and its fees and restrictions have forced me towards an alternative. There are lots of options out there and the good news is that most of them are less likely to adopt PayPal's harsh restrictions and verifications. I know I am not the only one in...

Offshore Bank Account & The Offshore Banks Offshore accounts allow you to bank in a few different currencies. Practically, they involve banking overseas. You might have heard about them and just like most other people out there, you might have some misconceptions about them. For instance, it is worth noting that you do not have to be super wealthy in order to benefit from them. Offshore banks have a relatively high profile and they have often made it to the media due to a plethora of scandals involving celebrities and famous people trying to avoid taxes. The truth is users still need to pay their taxes. For example, you are normally liable for such taxes on the interest you get from offshore accounts, so it is pointless to use them to...

BVI Incorporation (International Business Company) are an essential or countries whose topography includes coastal areas. IBCs are primarily private corporations flaunting a viable organisational structure. They are exempted of taxes because of their international business affairs. They maintain strict confidentiality within their corporate structure. In 1984, the IBC adopted the British Virgin Island Ordinance and the IBC BVI acquired a prime status in the offshore services industry. Nowadays, BVI is the most famous tax haven as every month, more than 5000 offshore companies get registered and the number of total incorporations has risen to a whopping 600.000! BVI is therefore, the most dominant offshore domicile of present day and...

If you have ever opened a bank account, you probably know already it takes time, and it requires lots of paperwork. In some countries, you will need to set an appointment, bring bills, proof of address, and so on. Then, you need to wait for approval before getting two separate letters – one with the actual card and another one with the pin code. If you think this is daunting, imagine doing it in a completely different country – you cannot speak the language, and you have no idea what documents to bring in. To keep it simple, this is what an offshore business is like. In theory, it is perfectly legal for a foreigner to open an account in a different country – some countries actually encourage foreigners to come over for investments...

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In the last couple of decades or so, Bahamas has without a doubt emerged as one of the most favorable offshore banking destination for the rich and the successful, especially for those that are based out of the US. Why is it so then? Why do so many people now prefer Bahamas to traditional destinations like Switzerland, Cayman Islands or Panama? There are a number of reasons why. Easy access Even the official website of the country proudly claims that there is no better place for your financial investments and only once you deal with banking institutions in the islands, do you realize how true that is. For those people who are unaware about how to go about creating an offshore account, their Prime Minister’s office has even created...