Offshore Company, Banking & Cryptocurrency

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...

On a proportional rate to its economy, the banking system in Cyprus is impressive. It is large and widely diversified – even larger than the banking systems in bigger and more developed countries. In 2010, the total assets of the banking system were almost 900% of the GDP. Other countries in the European Union ranged around 350%. The idea behind this system is fairly simple to understand. There are many domestically run banks out there with numerous overseas applications that count as part of Cyprus. But then, even without these banks, the banking system is still too large for this tiny country and can easily exceed 700% of its GDP (Gross Domestic Product). But despite these numbers, Cyprus is not the leading country in this segment...

Different OffshoreCorpTalk forum users stick to different online payment platforms – whatever works for them. Then, different platforms come with different terms and conditions. One thread in particular has caught our attention due to the wide discrepancies in opinions and facts. Regarding the versatile payment platform Stripe, more and more people fail to understand the terms and conditions associated with it, facing all kinds of issues. Here are a few things you should know before turning to Stripe. Business identification requirements This is probably the most important requirement from Stripe. The business ownership verification is applied to business owners only. The physical location will be verified – make sure you can get...

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...

EMIs – Electronic Money Institutions – are naturally part of the game when you deal with offshore applications, online work or you simply want to diversify your portfolio a little. There already are a few handy guides regarding the most trustworthy EMIs on the OffshoreCorpTalk forum. If you missed them, here are a few details about what to expect before actually digging into deeper details. A brief introduction regarding EMIs will put you on track and allow you to understand how it works – most people already know that. The point of this article is to identify the potential maximum limits you can have in transactions. To keep it simple, imagine the necessity to transfer $25,000 or maybe $50,000 in one go. Could you do that with an...

An Electronic Money Institution is often confused with a bank. This article will discuss what an Electronic Money Institution is, its difference from a bank, and how it generally works. What is an Electronic Money Institution? An Electronic Money Institution is an establishment that supplies a financial product, which in this case, is electronic money. It is a financial institution licensed and authorized to issue electronic money. EMI only stores electronic money via a device. What is E-Money? Electronic money is defined as the monetary value stored in a technical device. This money stored and read by devices is used to pay for services and products. The device serves as the instrument. There is no need for the involvement of a...

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...

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...

Belize is a favorite offshore company haven. The reason being is that Belize made their country’s laws friendly for foreign businesses. It also has stable politics and economy, protecting offshore companies from unexpected liabilities. Here is a breakdown of the Belize Company Formation. What is Belize Company Formation? Belize Company Formation is the creation of an offshore business in Belize. Belize is a business capital. The business environment in Belize allows an offshore company to establish itself as a legal entity. There is no restriction for company formations there, for both local and foreign stakeholders. The only difference is that of a non-resident owner having to gain the approval of a bank. Why Choose Belize? Belize...

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. Plus...