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The UAE has become a leading business hub over the past couple of decades. These days, it’s one of the strongest financial centers in the world. Pretty much every advantage offered had the main purpose of drawing foreign investment.
The end of 2022 came with a slight change. The UAE brought in a federal law change to implement a corporate tax. It happened in December, 2022. Prior to this update, the UAE has been seen as a tax haven.
After all, there was a 0% tax on all profits made in the UAE. The tax haven didn’t apply to oil exploration businesses though.
Now, this new tax became effective on June, 1st, of this year. It was described as a goal for the UAE government to accelerate its development even more, but also to add to its...
Planning to start an LLC (Limited Liability Company) in the USA? You better get ready to deal with one of the most bureaucratic systems in the world.
At first, it’s perfectly normal to feel overwhelmed with the wide variety of forms and requirements in terms of paperwork, but once you get used to it, it becomes a breeze.
There are certain documents you need to learn about to ensure you meet all the regulations. While the list may vary based on the type of business or industry, here are the most common forms and what each of them requires.
Understanding Articles of Organization
This is the first form you’ll have to pay attention to. The form will basically create your LLC and register it with the Secretary of State. Obviously, before...
Fraud and scam refer to the exact same thing, and unsurprisingly, they seem to target every segment or industry that seems to gain popularity. Unfortunately, a moment of inattention is more than enough to lose thousands, if not more.
As if offshore banking isn’t seen with shady eyes already, some banks and institutions are making the whole situation even worse by grabbing customers’ money in illegal ways and failing to return them when needed.
Offshore banking is not in the best situation at the moment. With quite a few scandals over the past few years based on leaks and governmental institutions hunting citizens' money abroad, legitimate banks seem to struggle to get new clients due to this overall feeling of negativity.
Every day the market gets more and more unstable. The prices of the goods are constantly changing, and with it, the currencies exchange rates. It is not easy to predict what will happen tomorrow, but we need to be prepared for any scenario. This list will help you understand if your currency will appreciate or depreciate.
Are you planning a vacation abroad? Do you have a budget set for your next big purchase? If so, currency exchange rate fluctuations could have an adverse effect on your finances depending on which countries you visit and what goods you buy. However, for all those travelling enthusiasts looking for the best travel destinations worldwide, a country with a weak currency can be a cheaper alternative.
Most people would be unable to locate Liechtenstein on the map, yet those with an entrepreneurial spirit can probably relate to it as one of the safest and most stable jurisdictions in Europe – not a tax haven, though.
Liechtenstein is a micro state – a constitutional monarchy – located between Austria and Switzerland. Covering just over 60 square miles, it has fewer people than a neighborhood in a large city – less than 40,000.
With all these, Liechtenstein has a few different municipalities, and its capital is located in Vaduz. Now, here comes the interesting part. From a financial point of view, Liechtenstein is among the countries with the highest GDP per person in the world.
Back in the day, Liechtenstein was known as a tax...
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...
Despite being part of the EU – an advantage for some – and reporting foreign accounts on request, Cyprus is still an attractive jurisdiction for entrepreneurs from all over the world. Sure, it may no longer be the tax haven you knew a decade or two ago, but the environment is still business friendly.
It pays off researching everything before deciding on Cyprus company formation. There are more types of companies you can go for, and each of them comes with pros and cons. All in all, here is everything you need to know before investing your money.
Why incorporate in Cyprus
Compared to other countries in the EU, Cyprus has the lowest tax rate – set at 12% only, so it is still an advantage that can help you keep more of your money. The...
It may sound surprising to some, but the truth is most people running LLCs in New Mexico do not actually live in New Mexico. On the same note, New Mexico company formation seems to be a trend these days, as the state has become extremely attractive for business people.
The state is extremely popular among those who want to keep low costs, optimize taxes and even get some extra privacy. It is easy to tell why – after all, there are no annual fees or reports. You only need a registered agent, which every state in the USA requires.
You can even file for LLC over the Internet, so there is no need to travel there. All in all, there are a bunch of small things that have changed the business face of New Mexico. This article will explore the...
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.
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.