Offshore Company, Banking & Cryptocurrency

PayPal has just announced joining the cryptocurrency market – a move that has been anticipated by experts long ago, but not in the near future. The online payment platform has announced that its users will soon be able to buy and sell various digital currencies with no restrictions at all – only by using their own PayPal accounts. PayPal has mentioned it is currently dealing with more than 26 million retail sellers, so the cryptocurrency market is gaining an immense exposure to all these sellers. Virtual coins will be used to buy all kinds of goods – just like any other currency available in the platform. There were multiple rumors regarding such a move over the past years, but PayPal has managed to keep everything secret. Despite its...

Go down the road and ask someone about offshore banking or wealth management – their minds will inevitably go to Switzerland. Whether it comes to movies, scandals or just plain facts, there are no doubts about it – Switzerland is seen as the international banking capital out there. Some of the world's best rated banks are based in Switzerland, while the plethora of advantages will most likely attract even more people in the future. However, things have obviously changed over the past decade and there are more reasons behind these updates. The way people bank has also changed, which has inevitably affected the banking system. Then, those interested in offshore banking have also contributed to these changes, not to mention government...

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...

Merchant accounts and payment processors are a necessity for any e-commerce website. Simply put, without them, you cannot sell goods and services online. Many people want to know more about how to properly choose them and what needs to be configured properly to help their business. Whether you are looking to create an online store or you have a business that wants to switch providers, here is some information that you might find useful regarding merchant accounts and payment processing. What Is Merchant Account? Merchant accounts are types of accounts that help merchants process payments. The payment gateway stores the funds obtained from sales into the merchant account. Then the funds from the merchant account are automatically...

There are around 2,000 cryptocurrencies on the market today, and their market cap is anywhere around $300 billion, with plenty of fluctuations. The space has gained lots of notoriety over the past years, especially with the leading digital currency – Bitcoin – reaching some extreme values in 2017 and dragging other currencies along. From this point of view, investors worldwide push to trade in this industry, especially as more and more stores and institutions accept digital currencies these days. On the same note, numerous cryptocurrency platforms have come out to meet these traders' meets and necessities but also to provide a solid infrastructure for trading. These platforms are referred to as crypto exchanges. But then, if you are...

Payeer is a popular option in terms of electronic payments. It allows its users to make transactions, buy or sell things both locally and internationally. Users can also pay for services and more importantly, they can do it in various cryptocurrencies – usually the most popular ones in terms of ratings. If you have heard about Paypal or Payoneer, chances are you will find Payeer pretty simple to get used to. The operating principles are the same, so there will be a simple learning curve with no issues whatsoever. These days, Payeer has become one of the leading electronic wallets on the market. It is mostly recommended for international payments, but there are not too many restrictions about it. Simply put, you can use it to transfer...

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...

You may already be familiar with the idea of an offshore company, but the truth is things are a bit more sophisticated than they seem. There is not much to worry about though – a little education will lead you in the right direction. When dealing with certain companies and trying to find out more about them, you may find out they are registered in some unusual countries. For example, you may find a company with a local name established in Hong Kong or perhaps Gibraltar. The list can go on. At this point, you may wonder why. The truth is offshore companies come with a series of benefits and each of them is mostly related to the financial situation of the respective business. Here is everything you need to know in order to set your own...

You have probably heard about them and you know they could make you a millionaire or broke – cryptocurrencies represent a hype these days. Despite their popularity, they can be quite confusing and not always crystal clear. Some people claim they can get you broke, but they have no clue what they are or how they work – the classic misconception from those skeptical about new things. Some others claim your wealth could skyrocket overnight, but this is also a myth. A cryptocurrency can make you money if you know what you are doing – pretty much like everything else in the trading history. You go online and try to find some answers to your questions, but most explanations out there are still confusing. All in all, this guide will give you...

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...

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...

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...

Hong Kong is known for its rich and exotic Chinese culture, countless majestic tourist spots such as Hong Kong Disneyland, Tian Tan Buddha, and a whole lot more. Another factor that gives Hong Kong the flare for having numerous visitors coming back and forth in the country is its thriving economy, due to the abundance of businesses growing in the country. One can surely agree that Hong Kong's successful economic status is due to its currency's flowing cycle. If you're one of those individuals who have plans on residing in the said country sometime in the future, one way to quickly adapt to the new lifestyle would be to apply for a Hong Kong bank account. Wealth is one of the most valuable possessions an individual should always pay...

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...

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...

Dubai is a center of economic wealth in the United Arab Emirates. Various corporations choose to build offshore companies there due to their economic stability, stable political power, and lax politics. Dubai also offers a Dubai Economic Free Zone that offers incentives for stakeholders who decide to build businesses there. Definition of Dubai Company Formation The definition of Dubai Company Formation is the creation of an offshore business structure in Dubai. An offshore company refers to a company that operates outside the country of its stakeholder is under the residence. An offshore company operates beyond the national boundaries. That means that the company is under another country’s jurisdiction. With Dubai Company Formation...