Offshore Company, Banking & Cryptocurrency

As you deal with Bitcoin and make one transaction after another, there is a point when you realize that anonymity is not always there. You have done your homework and you have assessed the benefits of digital coins – cryptocurrencies are meant to be anonymous. Indeed, they will not necessarily link to your actual identity. But then, there are other small details that can reveal your actual identity. The address of your Bitcoin, for example, is public. Your history of transactions can also be discovered. If you are not careful, they can be put together and may reveal your real life identity. Discovering who you truly are is not of great interest, unless you deal with high amounts of money. Most people would try to conduct transactions...

If you think about it for a second, paper money holds incredible value without being something valuable – nothing but actual paper. The idea is definitely exciting, but also hard to believe how it came to life in a world where people had access to more valuable things. Paper currency is interesting from more points of view, though. For example, printing technologies are quite advanced to prevent fake money. Then, what makes it stand out is the fact that a commodity with no value is used to trade. Flying money has no intrinsic value – always taken for granted by those who own it, though. For hundreds of years, humanity used valuable objects for trade and not only. It was like an unwritten rule. Things like silver and gold were the...

The Panama Papers represent over 11 million documents that were leaked in the spring of 2016. The documents provided access to a series of financial documents – more than 200,000 offshore businesses and individuals, including attorney-client conversations and details as well. Some of the documents were recent, but others dated back to the 1970s. The papers were stolen and leaked from Mossack Fonseca – an offshore law company based in Panama. Documents were associated with both low-profile companies and large corporations – including wealthy individuals known all over the world. Most of the data were kept private until these papers came out. Various governments took action based on these leaks – for instance, Jan Marsalek was...

Seychelles CSL company is not very known by the public, but can have a huge impact if you are doing business with China, India Russia and the most of the Baltic countries, regardless if you are selling or buying to those countries the profit impact a Seychelles CSL Company can have is enormous. Actually it is very easy and fast to incorporate a Seychelles CSL Company, what one will need is not only the CSL but also to have a intermediate holding company situated within the EU, Cyprus is used to be the place of incorporation for such an intermediate holding company because of the double taxation agreement Cyprus has with the Seychelles and the normally low corporate tax of only 10%, in this case mentioned where the Cyprus company will...

Nearly four years after it was launched, Coinbase commerce – the merchant app from Coinbase – is running at full stream these days, hitting milestone after milestone, and seeing an uptick in volume since the 2018 launch. People really seem to be buying products and services on the web in crypto, and most of these transactions are happening on the Coinbase ecosystem. Coinbase has been expanding at a pace like never seen before. The exchange has grabbed the attention of investors, who pay a bit more for added transparency, security, and above everything else, safety. Coinbase is considered a safe bet across the cryptosphere. As the market continues to provide healthy alternatives to fiat currencies, Coinbase commerce was launched to...

If there is one constant in the vast, ongoing, cryptocurrency exchange war, it’s this fact: Kraken is a big dog. Despite fierce competition from feature-rich Coinbase and Binance, Kraken remains a force to be reckoned with due to its large crypto asset catalog, numerous other attractive features, and global reach. For these reasons and more, Kraken remains a top-rated, overall trader choice winner for cryptocurrency trading, along with Coinbase and Binance. Whether you want to invest in the crypto long term, trade crypto assets in the shorter term, or you just want to make a cost-effective cross-border transfer, Kraken is the exchange to rock out to. Cryptocurrency exchanges used to be largely defined by the coin listed. Nowadays...

The unrealized capital gains tax has been widely discussed lately, especially after it was mentioned among new potential laws in the USA. Most people are not aware of it and the truth is they are less likely to be affected anyway. Who does it affect then? This type of tax is most likely aimed at the rich – billionaires or those with high-value assets. You do not need to be a billionaire to be affected. Instead, you might as well own a few properties or perhaps some collectibles. To the average individual, this tax means nothing, yet there are people out there who are happy to see the rich paying more taxes. To the rich individual, this tax may seem a little abusive. Will it go through? Only time can tell. But before getting there, it...

It makes no difference what kind of investment you are trying to make. It also makes no difference what kind of broker you deal with. Unless you pick an unknown name from a third-world country that most people cannot even locate on the map, chances are you will be asked for the country that you are a tax resident in. You will also be asked for the corresponding tax identification number, which may come under different technical names. What is the catch then? What is the point of such information and what do you do if you travel a lot or deal with an offshore industry? Here is everything you need to know at a glance. Understanding the common reporting standard The common reporting standard – CRS – was introduced in 2014 and was...

Gold has an impressive history, as well as a high value that has never gone down. It is part of the culture, and despite being popular today, it is not just a trend. Gold has always been an important asset, whether you count ancient Chinese, Greeks, or Egyptians. These days, gold is appreciated for its beauty in jewelry, but also for its value – one of the most useful investments out there. There are more reasons wherefore people buy it – one of the most sought-after metals, no doubt. But then, learning how to buy gold could be a bit tricky. The price of gold keeps fluctuating – just like any other asset out there. It is used for jewelry, investment guarantees, and even the manufacturing industry. The past century saw an even greater...

An offshore company is set up to conduct its business in a country it is not in resident to. Hence, it follows another country’s jurisdiction. With the country’s jurisdiction comes a set of tax requirements that will require guidance. Offshore tax advice is vital to navigating through understanding a country’s tax process and jurisdiction. Doing so will avoid being charged with tax evasion, which is a criminal offense. Offshore companies work this way. A company conducts its business in Country A. Then, the owner sets up a company it is not in the residence of, which is country B. That offshore company follows the legal business structure under the jurisdiction of Country B. That means that the company is operational in Country A, but...

Hong Kong is a part of the People’s Republic of China. However, it operates differently from the mainland. As such, the region’s jurisdiction rules in an independent manner. Hong Kong is a popular offshore company establishing-ground for various reasons. The Definition of Hong Kong Company Formation Hong Kong Company Formation pertains to the creation of an offshore company based in Hong Kong. The offshore company will have a non-residential status in Hong Kong. The rationale of an offshore company works this way. A company conducts its business in country A. Then, the owners set up an offshore company in Hong Kong. The offshore company will follow the jurisdictions and bylaws of Hong Kong, as well as operate within its legal...

Whether you are going offshore for tax optimization, asset diversification, or you simply plan to retire or live in a different country, it is imperative to plan everything in small details. It makes no difference if you are trying to find a more stable economy or just one with a low cost of living. Different offshore entrepreneurs have different reasons to change their countries. Sometimes, it is only a matter of becoming an international citizen or having a plan B. Other times, you may find your local taxes to be too abusive, hence the necessity of a different plan. No matter what you are after, there are normally two days to do it. Here is everything you have to know before choosing offshore services providers. Doing...

If you are into business, entrepreneurship, or offshore applications, chances are you have seen Luxembourg popping up every now and then among the best jurisdictions to start a business in. For many years, it has been credited as a tax haven for wealthy business people. Obviously, things have changed a lot over the past decade, and the concept of a tax haven is no longer what it used to be. There are different reporting standards these days, as well as anti-money laundering directives and laws, so pretty much everything is reported. It is almost impossible to find a proper tax haven to hide your money these days. With all these, Luxembourg is still among the modern tax havens – the kind of places where you cannot really hide money...

Moving to a new place may seem easy at times, but there are certain countries that will bring in a bunch of challenges. Now, different people have different reasons to move abroad. These reasons do count as well, but overall, choosing the location carefully is the more important factor. Now, why would you choose a different country? Maybe you are thinking of retiring. You have a home you want to sell, buy a different one in a different country and live off your pension or investments. Maybe you want to invest in a nice country with a stable economy and low taxes. How about getting ready for further investments or retirement? No matter what your reasons are, immigration consulting is often the main necessity. Think about it for a...

Self assessment – also referred to by other names depending on the country you live in – is a system designed by the revenue and customs system in your country. The respective system has one simple purpose – collecting tax for the government. If you work for someone else or you are retired, the tax will naturally be deducted by the government before you actually get the money – the type of money you only see on your payslip and never in real life. However, self-employed professionals and businesses must report the income themselves in a tax return. These returns must be done on a yearly basis. There are, however, a few exceptions in specific countries where you could do them twice a year – or a different frequency. In most places...

Bermuda is one of the traditional offshore destinations for those looking to diversify their assets or optimize tax. Over the past decade, the offshore industry has been, indeed, affected by numerous leaks that have made it even more difficult for entrepreneurs to go abroad. While some countries look like dead ends, Bermuda has managed to retain its status. It has remained one of the most transparent nations out there, providing high-quality results without breaking any international laws or standards. Bermuda's reputation is still clean. Despite maintaining a tax-friendly environment for entrepreneurs, the island nation has not been targeted by larger countries trying to enforce their own rules into foreign territories. Other...