Finance & Crypto Insights

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...

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...

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...

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...

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...

A big name in the financial world, wise is a FinTech company devoted to making international money exchange simple for its users. Because of its top-class feature of sending money to other countries at minimal charges to most banks, wise is gaining immense popularity. Additionally, they hold money in currencies of different nations for their customers having both personal and business requirements. Wise is gaining massive attention from people looking to facilitate cross-border money transfers and avoid paying massive fees. This rising attention is turning more people towards using wise for facilitating global payments. However, before beginning to initiate payments using wise, you need to go through this complete review. Once you are...

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...

Incorporating in the USA seems like a bad idea at a first glance. Most entrepreneurs would rather focus on low tax jurisdictions – in fact, if you play your cards right, you might be able to avoid tax at all, without even breaking the law. However, the USA does have some advantages and some states in particular stand out. This is because while the whole country falls under some general laws, each state has the right to come up with its own regulations. Delaware is one of these states. More and more corporations choose Delaware and for some good reason. But then, just like any other state, it has both advantages and disadvantages. Here is everything you need to know about incorporating a Delaware company. Benefits of incorporating...

You might be trying to get a mortgage or perhaps a credit card from a different bank – not the one you use for your current account. You might as well try to open an offshore company and target some of the benefits associated with incorporating a business abroad. Maybe you are just trying to rent a house or get credit for a new car. In any of these situations, you will be asked for a plethora of documents. Most of them are easy to get – you may already have them, such as your ID or a utility bill. Some others are more difficult to get. You may need to print a few documents or perhaps go to specific institutions in person and request them. Sooner or later, someone will inevitably ask you for a bank reference letter. You have never heard...

Singapore is one of the finest countries to develop based on its competitive growth regarding its successful economic status. The Lion City's thriving financial hub continues to grow over the years because of its popularity; it remains a melting pot of prestigious businesses, may it be domestic or international companies. Moreover, Singapore is also widely known as one of Asia's "rising tigers" due to its economic growth in businesses, such as agriculture, electronic manufacturing, and many more. Along with it is the country's booming and convenient corporate tax rates that numerous business holders follow through accordingly. Indeed, it is the most recommended country to start a business in, especially for international companies...

In May, 2010, the Dubai’s Mall Galleries Lafayette brought in a new ATM. The machine allowed customers to withdraw cash, as well as gold – a few grams or perhaps a large gold bar, up to each customer. It was proof of opulence back then. No other country had something like that – the possibility to walk in the mall on a Thursday morning and withdraw some cash and a few grams of gold. Everything was possible with a credit or debit card. Now, if you go back in the history of modern civilization, you will realize that money has pretty much always been backed by gold – officially or not. Despite the gold ATM gaining some popularity in the UAE, the country’s fiat currency is not actually backed by it. In fact, it is impossible to find a...

The 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...

Why all people should consider total Internet privacy when they are doing online! Everything you do on the Internet will stay there in be traceable. The Internet will never forget, vanish or delete your information, your personal history ot what else you left there that can be traced back to you. While an offshore bank account for most of us is a way to safeguard our money, for plenty of people it is also a way to have a secret stash of it somewhere. Maybe the political climate in your country is volatile and you don’t want to lose it all overnight or maybe you are just afraid that your family members will squander all the wealth you have so painstakingly amassed. Needless to say, privacy is a very important concern for a vast...

Bermuda is one of the top-rated options on the market when it comes to offshore banking. It has always been seen as a tax haven, and it has gained notoriety for the excellent deals offered in terms of tax optimization and banking. Offshore banking in Bermuda will allow you to optimize your assets. Plus, banking abroad gives you new opportunities. Get used to a different banking system, other quality standards, and different strategies for your business. With these thoughts in mind, Bermuda is clearly not the only option out there. Different people have different needs. But unlike other similar destinations, Bermuda has always been clean and transparent. While tax-friendly, the jurisdiction has never been involved in any scandals...