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Most commonly, it makes sense to incorporate a business in your own state, whether you register a small business, a medium enterprise, or even a large LLC. Most people choose this option because they are familiar with the laws and, well, it is more convenient. However, there are also people who choose to go a long way and get out of the comfort zone. Sometimes, it is worth traveling and becoming familiar with a new state, especially if this effort brings in a plethora of advantages. A Wyoming company is one of the hottest topics in the entrepreneurship industry these days. You do not necessarily have to reside in Wyoming to start a company there, so more and more business people choose this state for incorporation. At this point, you...
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...
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 taxes. 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...
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...
While saving for retirement is the norm, the truth is more and more people turn to diversify their assets in order to avoid depending on the government. After all, by the retirement age, there is not much you can do to get back on track, so you truly depend on a bunch of rich individuals. If it is already too late, you can still aim to diversify assets by diversifying your retirement plan and even moving it abroad. Not only do you get protection against the American government, but you could also end up with much higher returns in the long run. Retirement account confiscation seems to be the norm these days. Governments have proven already that they can cut pensions whenever a so-called crisis kicks in. Basically, they help...
No matter how stable and civilized today’s society seems to be, the truth is unrest is just round the corner. Nationalism is growing, as well as the popularity of communism in certain parts of the world. Diversifying assets is a must in such unstable times. Fiat currency helps in the short run, but never in the long run – after all, most currencies are set to fail at some point or another – based on history, of course. With these thoughts in mind, diversification is often the key to more successful backup plans. The idea is to diversify your wealth, so you can live comfortably even if unexpected situations arise. While there are lots of options out there, two of them stand out in the crowd. Digital coins represent a modern...
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...
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...
Offshore banking comes with pros and cons, depending on where you come from, what jurisdiction you choose and what your goals are. There are plenty of attractive options out there, and tax havens often lead the charts because they cater to foreigners. Now, compared to other concepts related to the offshore industry, banking is not necessarily about tax optimization. The jurisdiction of your business and your residency or citizenship are more important. However, banking does play an important role too. Banking is mostly about diversifying assets. You could have an account in a country that feels economically and politically stable. Your money is more likely to be safe in such a place, rather than in developing jurisdictions. When...
If you're thinking of starting your own company in the UK, this is your guide! This comprehensive guide will cover everything you need to know about company formation, from legal requirements to financial considerations. We'll also provide tips and advice on choosing the proper business structure and walk you through registering your company with the relevant authorities. So whether you're planning to start a small business or go big time, this is the guide! What is UK Company Formation, and Why is it Important? When you form a company in the UK, it's considered a legal entity separate from your assets. This means that your business can own and operate its assets, make decisions on its behalf, and contract with other companies without...
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...
Barack Obama signed FATCA in 2010. FATCA stands for the Foreign Account Tax Compliance Act and became a legal requirement targeting Americans from all over the world – exactly, including those who do not live or work in the USA too. At that time, FATCA paved the way to multiple similar acts with the one and only purpose to boost transparency and communication in terms of offshore banking. This act is one of the elements that ruined privacy in this industry. Now, unless you plan to commit a financial crime, FATCA should not really affect you. But on the other hand, it is disturbing to know that banks are actually asked to spy on their customers and mention specific aspects about them – it feels like going back to the 1970s in Eastern...
John D. Rockefeller made an important statement once – Own nothing, but control everything. Coming from someone with incredible wealth, this aspect has been thoroughly analyzed overtime and has become a top rule for handling money. What he meant is fairly simple to understand. If you do not own anything, it means it cannot be taken away from you. This is what asset protection truly means, and believe it or not, it can be done legally. Most people simply forget about this aspect, though. Back in the early 1990s, only a few people knew how asset protection truly works. With time, the popularity of this concept grew, so by the late 1990s, most millionaires had some clues about asset protection – it started spreading overnight. The...
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...
Wise and seasoned investors know very well how to avoid putting all their eggs in one basket. This is one of the fundamental rules of investments, and sadly enough, newbies often overlook it. Professionals, on the other hand, try to familiarize themselves with different types of investments out there. This is all about risk assessment. Investing all your money in one thing could lead to a dramatic outcome if your investment fails. Professionals will use their education and knowledge to find out how to make money in a few different ways – if something fails, something else may actually work, meaning less risk. In terms of investments, there are plenty of baskets to choose from. However, it is important to understand how each...
You have probably heard about wealth management – maybe spotted a few businesses too in top-rated areas. The concept makes perfect sense, but there are certain misconceptions that can change everything. In theory, a wealth management company provides investment management, as well as detailed and professional financial advice. A personal manager will deal with complex financial situations, not to mention coordinating financial experts based on the clients’ necessities. When it comes to financial planning services, wealth management is probably the most advanced one. This is the ultimate goal. Investment management is probably the most common service, and it comes from people with decades of experience. Tax guidance is another...

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