Crypto prices go up, crypto prices go down. Although one thing is becoming more certain, cryptocurrency is here to stay. If you are going to be using crypto today or any time in the future one thing that you will need is a wallet.
Much like a wallet for fiat currency, a crypto wallet is a place where you store your cryptocurrency. There are two main types of wallets, custodial wallets like those found in Paypal and other fintech apps which act as a “custodian” for your crypto assets, meaning you are trusting the company to hold on to your funds. And the second is a non-custodial wallet which can come in the form of software or hardware on your browser or in the form of a USB key.
Digital currencies are gaining a foothold in the world of finance and are slowly being integrated into the financial system. Though Bitcoin can be converted to cash through traditional financial institutions, people are still faced with many complications when dealing with conventional banks.
The distrust is largely due to the unregulated and unpredictable nature of the crypto market as well as the ever-changing laws coming from governments and institutions as they learn how best to monitor and regulate the crypto space.
Trusts are highly effective financial tools used in estate planning, asset protection, tax optimisation, and more. There are numerous types of trusts, each with their own unique structure and terms. This makes them highly versatile instruments which can be used in a range of circumstances.
A primary distinction is made between irrevocable and revocable trusts. In this article, we will briefly outline what an irrevocable trust is and its main benefits. We will then look at some of the most commonly used types of irrevocable trusts.
Nobody likes to consider the possibility of divorce, but unfortunately, they are a far more common occurrence than we like to acknowledge. In fact, it is estimated that almost 50 percent of all marriages in the United States will end in divorce or separation.
It is easy to fall into the trap of believing that it will never happen to you, but the reality is that it very easily could. For this reason, it is better to be well prepared for the possibility, than have to try deal with the consequences after they arise.
The cryptocurrency and digital asset market has exploded over the past decade. Early investors have been catapulted from middle-class working citizens to mega wealthy in the space of a few years, and new entrants continue to amass large wealth through this up-and-coming asset class.
Cryptocurrency is still in its infancy, is largely unregulated, and often misunderstood. As a result, there are various grey areas surrounding its classification, taxation, and how best to own and protect it. In this article, we will clear up some misconceptions about cryptocurrency, explain why it should be protected in the same way as other valuable assets, and discuss the best means for doing so.
The rise in demand for second passports, fueled in large part by the epidemic has created a surge of individuals looking to secure their freedom of movement.
Obtaining second citizenship can be difficult, expensive and a time-consuming process, however, thanks to ease of regulations, a fast-track application process and the ability to pay with crypto has made it a quick process that can be finished from start to finish in just over a month.
The only certainties in life it is said are death and taxes. With that said, taxes do not need to be as tragic as death and hopefully, with the right help, you will not have too ponder death come tax day.
In this article, we will look into several different pieces of crypto software that help simplify the complexity of cryptocurrency reporting and show you some smart ways to help reduce your tax burden.
When incorporating a business in the United States, one of the primary decisions is whether to choose an S Corporation or C Corporation. While these two types of corporations have some commonalities in their basic structure, there are also some important differences to be aware of.
These differences primarily pertain to taxation and ownership requirements. The right type of corporation to choose will depend on the specific situation and needs of the business.
Cryptocurrency and digital asset markets have exploded in popularity and growth in recent years. Many are seeing the exciting potential of this new asset class, and want in on the action. In the early days of Bitcoin and the wider crypto market, the options for buying and selling crypto in a seamless and affordable manner was limited.
Fortunately, that has changed. Today there are now a multitude of excellent cryptocurrency exchange platforms where anyone from the complete beginner to the experienced crypto trader can easily buy and sell crypto at highly competitive rates. However, due to the fact that cryptocurrency is still a largely unregulated industry, it is important to carefully do your own research before diving in. There are still many scams out there, and not all crypto exchanges should be blindly trusted.
Estate planning is a difficult but necessary step if you want to generate wealth for your family. The challenge is the more wealth you have, the more difficult it is to get it right.
Estate planning can be quite complex. To make matters worse, the rules surrounding estate planning are constantly changing. This is especially true of tax laws and liabilities.
The best way to solve this is by implementing estate planning strategically and early on. By acting early, high net worth individuals can leave more for family members and future generations. Let’s look at some of the most crucial steps of good estate planning.
Hong Kong is regarded as one of the world's top financial centers due to its favorable tax environment, free-market economy and liberal regulatory system, making it one of the world's most dynamic places to start a business.
Hong Kong has a stable and bustling economy with a business culture that has made it on the 3rd easiest country in the world to start a business, according to the World Bank.
Trusts are useful financial vehicles that can be used for estate planning, asset protection, privacy, and tax optimisation. There are numerous types of trusts, each with their own unique characteristics which serve different purposes.
A land trust is a special type of living trust (i.e. a trust which comes into effect during the grantor’s lifetime) that is specifically used to hold real estate and/or related assets.
Offshore holding companies provide an ideal vehicle for holding real estate investments. As such, an increasing number of offshore companies are being registered for this express purpose. While in some instances it might make more sense to hold a property investment in your personal name; in most cases, registering an offshore company to hold the property on your behalf can provide significant benefits.
In this article, we will explain what an offshore holding company is, how it can be used to hold real estate, why it is worth it, as well as some additional factors to consider.
Trusts are special purpose financial vehicles that are designed to hold and safeguard assets for the benefit of one or more beneficiaries. The person who funds the trust is known as the grantor, and the trust acts as a separate legal entity that manages the assets which the grantor transfers. Trusts are widely used for estate planning, asset protection, financial privacy, and tax optimisation.
There are several varieties of trusts, each with their own unique features and use cases. Two of the most common and widely used types of trusts are that of a “Living Trust” and a “Land Trust”. In this article, we explain what each of these types of trusts are, and the benefits and uses of each.
Trusts act as separate legal entities which an individual can form to manage his/her assets. Trusts are highly effective financial vehicles which are regularly used in estate planning, asset protection, tax optimisation, and more. There are two distinct types of trusts: a revocable trust (also called a “living trust”) and an irrevocable trust.
These two basic types of trusts have distinct features which make them comparatively more or less useful in different circumstances. Simply put, a revocable trust is one where the terms can be modified at any time by the owner of the trust, or even cancelled entirely. An irrevocable trust, on the other hand, is one that cannot be changed after it has been created without the express consent of the beneficiaries (and even then, limitations often apply).
You've probably heard of lawsuits before. They're often talked about on the news and in the papers, as we never think it could happen to us. Often the first questions that come up are: what does it mean and how can I avoid them?
Many people are under the impression that they have nothing to worry about when it comes to protecting their assets. However, this is not always the case. If you get hit with a lawsuit and your assets are exposed you could be held liable and lose your entire life savings.
The best way to protect yourself from lawsuits is by creating an asset protection plan. This will allow you or your loved ones to maintain control over your property even if a lawsuit occurs.
A cryptocurrency is a form of digital currency that can be exchanged online. It's an exciting new way to make money and invest in the future. If you want to take advantage of this opportunity, there are many things that you should know about how cryptocurrency works.
We'll discuss the pros and cons of incorporating cryptocurrencies into your business strategy, as well as several other important considerations for running a successful company with bitcoin integrations.
A crypto savings account can help you increase your investment yield by leveraging the volatile crypto market. The rise of bitcoin investing in the last few years has also created a rise of several different crypto account types in response to the explosion in demand.
Crypto savings accounts have some differences from traditional banking and do not offer the same level of security you would expect in a traditional savings account. Nonetheless, the reward of higher yields is enough to attract a big slice of the crypto investment space.
Just as every part of the world varies in terms of culture, climate, standards of living, and political systems so too do their tax systems.
Each country has its own unique tax system with opportunities hidden if you know where to look. In high tax countries, governments seek to redistribute some of the wealth by placing progressive tax rates on the wealth as high as 60% in some places in Europe, in an effort to increase equality. The result that follows is often a flight of capital to low-tax countries where the wealthy move their assets overseas to escape the outrageously high tax burden.
Many countries around the world levy income taxes on crypto transactions, however, there are 10 countries that welcome crypto investors with open arms and do not levy taxes on bitcoin income, storage, and transactions.
The last year has seen people flock to investing in crypto. At the same time people have been looking for ways to maximize their savings. If that's you, then read on to find out the best countries out there that may just help you avoid capital gains tax. However, even though they do not have capital gains tax, whether or not you can benefit will depend on where you live.
In this article, we will reveal ten tax-free countries suitable for bitcoin investors where you can keep all your profts free from taxation. Let’s get started.
You’re definitely not the only one who is tired of having a substantial chunk of your hard-earned income vanish due to exorbitant taxes. It’s no secret that many developed Western nations such as the United States, Canada, Australia as well as many European countries, levy massive income taxes on their high-earning citizens.
Trusts as financial vehicles are exceptionally flexible. They are one of the most useful devices you can employ to effectively manage your asset & wealth. Whether you are looking for asset and wealth protection or simply looking for a more efficient way to manage your taxes, the formation of a trust fund may just be the resolution you are looking for.
Initial Coin Offerings (ICOs) have gained massive popularity and adoption over the last decade due to their practical uses and advantages over other traditional ways of raising capital. They provide an incredibly simple and effective way for projects and startups to raise large amounts of capital quickly and affordably.
IPOs, on the other hand, are slow and cumbersome by comparison. It can take a long time to obtain the relevant regulatory permissions, and there are often high barriers to entry for smaller projects and startups. In this article, we look at some of the ways that ICOs can be used, and the best countries in which to launch a successful ICO.
When it comes to Bitcoin and other cryptocurrencies, many banks around the globe steer clear. They often avoid or even ban the use of crypto in their accounts due to a perceived threat to FIAT currency and their operations as a whole.
They also tend to believe there is a high risk of fraud and money laundering when crypto is in use.
If you want to open a bank account that your creditors cannot touch, there are a few options to explore. While there is no guarantee that creditors will not seize your assets once it is discovered it is still possible to protect your assets through a number of ways.
The key here is creating a structure before you become involved in any legal situation as it is much easier to protect assets before a lawsuit is brought forward.
There are numerous unpredictable risks to your personal assets. Most concerning are those associated with unexpected lawsuits (liability suits, divorce, creditor claims etc.). Having a solid asset protection plan in place can be a lifesaver when these unfortunate situations arise which threaten your valuable wealth. The best way to ensure your assets are well protected is to be prepared with a comprehensive asset protection plan well in advance. However, the reality is that many do not make the necessary preparations, and are left with their assets fully exposed in the midst of a lawsuit.
A rapidly increasing number of Americans have been renouncing their US citizenship over the last decade, reaching an all-time record of 6,705 in 2020. This trend has been accelerated by the stringent tax regulations which have been opposed upon US citizens in recent years, complications related to information sharing like FATCA, and various other complex factors.
Those considering following suite should be warned that it is not an easy process. There are complexities and costs involved in renouncing your US citizenship, and it can create additional tax burdens in the beginning.
Since the inception of the European Securities and Markets Authority (ESMA) regulations in 2018, the European watchdog has put out new regulations that have limited the use of various financial instruments in an effort to restrict what might be seen as excess in the trading market. Some of the restrictions were: a ban on binary options, places a 50% margin stop out, and putting a ceiling on leverage for retail traders at 1:30.
While this was done with the right intention, to try and protect traders from going all in and overexposing themselves there has, as a result, been a movement away from Brokers that have EMSA oversight, as there are fewer possibilities to make windfall profits.
Do you want to start your own business abroad, but don't know where to begin? In this article, we will provide some tips and advice for people who are looking into starting a business overseas. We have included information about how to get started, what it takes, and some things to look out for.
Going global is not just a passing trend; with the corporate tax rate at 21 percent in the US, going abroad is likely here to stay. It's no wonder why so many companies have backpacked their bags and are moving abroad.