What makes a country the best place to live? Is it 365 days of sunshine a year? Or is it being able to go out to cheap restaurants and being able to drink all the red wine you can have for a couple of dollars? While we may all have different preferences of what makes a place the best to live for us there is a liveability factor in a place brings that makes it undeniably easy and pleasant to live especially for people looking to move abroad and settle in a new country.
Here is a list of the places we found to be the best places to live when looking for the best quality of life.
Asset protection planning is a vital aspect of your personal wealth management strategy. Creating the protection plan to safeguard your wealth involves careful consideration of your circumstances and the tools which are available to you.
In this article, we will look at what asset protection planning is, why you need it, and the different tools which can be utilised.
With banks failing, governments coercing and economies collapsing, establishing yourself offshore is more important than ever. Despite the attention grabbing headlines showing solemn face bankers being slapped with heavy fines by the IRS for tax evasion, the offshore industry couldn’t be doing better.
The very reason why the IRS, FATCA and the US government regulators are becoming increasingly tight on foreign banks, offshore accounts and international transactions, is because the offshore industry is growing at such an alarmingly rate due to the current international political and economic uncertainties, that they felt compelled to intervene in hopes that some of the deferred tax revenue might cover their increasingly large deficit.
The concept of tax havens has been around ever since countries decided to finance their governments by taxing their citizens.
Many countries compete by keeping taxes low and thus attracting business from high tax countries. Sometimes a country will designate a region or city a low tax or tax free zone, either to stimulate its economy or to buy the loyalty of its citizens.
Ancient Rome was a master in using tax-free areas, a sort of early enterprise zones. The first recorded instance took place in the 2nd Century BC when Rome decided to undercut the then independent Greek island state of Rhodes by establishing a tax-free port on the island of Delos. Even though Rhodes only charged a 2% on trade, it quickly lost trade to the new tax-free port and its era as a commercial power was effectively ended.
There are a variety of reasons for which people and businesses would want to open offshore accounts with overseas banks. Some of these reasons include ease of use when traveling abroad, taking advantage of higher interest rates, or simply diversifying your assets to protect yourself from governmental bankruptcy.
Businesses also use offshore bank accounts if they have a global customer base and use an offshore merchant account or if they have formed outside of the USA and keep one in their local jurisdiction.
Americans are known for keeping to their own part of the world and not exploring other countries as of 2019 only 42% actually own a passport.
If you are looking to take advantage of living in different country and all the lifestyle advantages that comes with it then now is the time. It is becoming easier and easier to live abroad these days. With online info, articles, maps, reviews, and courses it really has never been easier. More countries than ever are making it easier to get citizenship. Work and job opportunities are increasingly moving online and becoming virtual workplaces. Starting a business online has never been easier and with it comes the freedom to live wherever you want. Here are some of the best places we have found to live abroad.
If you’re a business owner who plans to move to another country and acquire residency through investments, you might want to try your hand at cryptocurrencies. These digital assets are among the innovations today that gain mainstream adoption for competitive businesses.
But what are cryptocurrencies? Why is it important for an immigrant investor like you to find a crypto-friendly country if you plan to buy Tether (USDT), Bitcoin (BTC), and other cryptocurrencies and utilize them for business to migrate permanently?
Are you looking to find the best business structure for your business? Each type of entity has a different form that comes with different regulations and is best suited only for certain businesses. The question then is: what structure is best for me?
There are many different types of business structures to choose from that each will have its own unique blend of liability, tax reduction, privacy, that will reflect the country it is in and the local corporate laws that govern the structure.
Business-savvy digital nomads and perpetual travellers are seeing the advantages of incorporating an offshore company in a foreign country. These individuals have a unique set of circumstances which allow for greater freedom of movement and an enhanced ability to establish a company in the jurisdiction of their choosing.
In this article, we explore the reasons why digital nomads should consider conducting their online business through the medium of an offshore company. We will also discuss the practical steps of how to reduce taxes with an offshore company and the factors to consider when deciding where to incorporate an offshore company.
Are you exploring ways to set up a shell company which can help solve your financial needs?
A shell company can be an extremely useful financial tool in a variety of circumstances. In the past, a minority of these types of companies have been used by criminals to assist in their illegal activities. However, in actual fact, shell companies are completely legal and have many legitimate uses.
In this article, we will explain what exactly a shell company is, what it can be used for, and how to set one up.
Starting a company in the USA is a great way to expand your business and take advantage of the opportunities that a US-based corporate structure provides.
Many want to know: Can a foreigner start a company in the US?
The answer is ‘yes’. You do not need to be a US-resident or citizen to form a company in the USA. Both foreign persons and foreign companies can form a US company, and get access to the even greater benefits that owning an offshore company provides.
For most of us who have lived all our lives in one of the many high-tax nations of the world, we simply take it for granted, without ever questioning the moral justifiability of taxation. In the US today, almost 40% of your income can be legally seized by the state in the name of taxation. The situation is as, if not more, bleak in many other developed first-world nations.
Proponents of taxation argue that it is a necessary aspect of funding the country, providing to the needy, creating social equality, infrastructure, etc. However, if one puts all these theories aside and looks at what taxation really is, it is easy to see why some political philosophers and libertarians have held the view that “taxation is theft”.
The United Arab Emirates (UAE) has become an attractive option in which to conduct business, due to the Free Economic Zones that offer a number of advantages to individuals and companies seeking confidential and tax-free opportunities.
In the UAE, there are two offshore jurisdictions:
Ras Al Khaimah, commonly referred to as RAK Offshore, under the jurisdiction of Ras Al Khaimah Investment Authority (RAKIA)
Dubai Offshore, under the supervision of the Jebel Ali Free Zone Authority (JAFZA)
Thirty-eight Free Zones are offered by the seven Emirates in the UAE, with twenty-two in Dubai alone. Each zone is managed by a Free Trade Zone Authority that caters to a diverse range of business sectors and activities.
The Caribbean Island of Puerto Rico (officially called “The Commonwealth of Puerto Rico”) is one of the best retirement destinations for US citizens today. This is partly because it is itself a territory of the United States, which comes with many unique advantages.
Besides Puerto Rico’s obvious allure as a beautiful and laid-back tropical island, there are many practical benefits for prospective retirees to consider. First and foremost, Puerto Rico is the only ‘offshore’ tax haven that is a part of US soil.
In the event that you need to leave the country and find somewhere safe to lay low, where would you run?
Jason Bourne is not the only one who might need a place to disappear. It is very possible to find yourself in a position where you would need to find another place in the world to call home. Any number of infringements can have the government after you.
Edward Snowden and Julian Assange aren't the only ones that needed to find a place to disappear to, but unfortunately for Assange, he didn't do a good enough job of hiding.
Other notable individuals who have had to flee abroad and seek asylum elsewhere were the late chess champion Bobby Fischer, John Robles and Mark Doyon one of Assange's activists.
More people are becoming attracted by the “expat lifestyle”. A portion of these actually take the leap in search for greener pastures. On the other hand, many spend years dreaming about it without actually doing anything.
In this article, we will begin by looking at what exactly an expat is, what it is like to be one, and how to practically take the steps needed to become an expat in this current day.
With cryptocurrency markets experiencing consistent growth over the last couple of years, cryptocurrency trading is ruling the roost with traders making profits manifold on their investments.
The fundamental requirement of cryptocurrency trading is to develop a wallet through cryptocurrency wallet development services to record transactions regarding exchange of cryptocurrencies, manage cryptocurrency portfolio, and maintain cryptocurrency balance. Basically, a cryptocurrency wallet development company assists business owners in creating a system to store data regarding digital exchange and digital earnings.
This article will talk about crypto wallets, offshore exchanges and why Switzerland may be the best country for offshore crypto enthusiasts.
Starting a new business is an exciting, yet daunting, adventure! There are so many different variables to consider. Research has shown that about 90% of all startups fail, and more than 20% don’t even make it through the first year.
In order to avoid being yet another failed startup venture, it is essential to make sure that you have considered all aspects of your business strategy. You need to make the optimal choices on multiple fronts to give your business the best chance of success.
Asset Protection Trusts, though seemingly complex, offer arguably the highest level of asset protection of any of the financial vehicles available. It is important to choose the right Asset Protection Trust type and structure to maximise the benefits available.
An asset protection attorney is someone who assets you in putting together an asset protection plan that works for you and your unique situation.
Ever since the birth of Bitcoin in 2009, the face of the global financial system has changed dramatically with both adoration and criticism coming from all directions. The rise of cryptocurrency's prominence since and its entrance into mainstream culture has given investors and tech-enthusiasts much to speculate about.
One of the central themes that have captured their imagination is the role that cryptocurrency will play in the changing landscape of the global economy.
Digital currencies or what are referred to as cryptocurrencies are an alternative medium of financial exchange and has gained momentum in the last few years, promising to reshape the global economic infrastructure by revolutionizing the medium in which goods are exchanged. The possibility of cryptocurrency is enormous, and it is difficult to estimate the impact it could have as the industry is relatively still within its early stages of experimentation and development. That being said, there are a few areas to keep an eye on:
The stereotype associated with the words 'offshore tax haven' is depicted with many negative connotations, many of which are often exaggerated depictions and plagued with erroneous associations.
Accompanying imagery brings up tropical Caribbean destinations in which greased whiten linen suit wearing mafioso types hand over briefcases full of unmarked currency to a local attorney who launders the money through an intricate series of offshore transfers.
The exaggerations, largely conjured up through Hollywood blockbusters, fills the head with such conceptualizations by exploiting the publics craving for tabloid-like headlines. As if often the case, the reality is a far cry from the romanticized picture captured by the camera.
In the wake of the Paradise Paper leaks, there has been a public outcry in response to the revelation of documents connecting high profile figures and companies with offshore accounts in low-tax jurisdictions.
Though the Paradise Papers revealed no illegality, governments and the media have criticized those named in the documents accused of safeguarding wealth overseas to avoid paying higher tax rates.
Those named included the Queen of England, members of the US and Canadian Governments and Apple amongst others.
Exploiting the public’s desire for sensationalism the media has continued to portray offshore banking and finance as a shadow world of illicit underground dealings failing to recognize that it provides a necessary service that enables and supports the globalized economic structure providing many services for industries across the spectrum.
When it comes to managing every aspect of your investment, the thought of dealing with foreign banks and businesses may not be the most ideal. After all, clarity and control are valuable to any investor. However, the benefits of an offshore investment account may just outweigh any potential negatives.
Offshore accounts can make trading between businesses easier, build better business ties, and help you stay informed on the best investment opportunities. Offshore investment accounts create these benefits and more for burgeoning investors. However, you need to understand all the red flags of an improperly managed offshore investment opportunity as well.
Irrevocable trusts are a special type of trust which cannot be modified, amended, or canceled, except under specific conditions. They contrast with revocable trusts, which can be changed or terminated by the grantor.
This means that once you, as the grantor, transfer your assets into an irrevocable trust, you relinquish all control and ownership over them. It also means that once you name the trustee and beneficiaries, and set the terms and conditions of the trust, it is fixed.
Irrevocable trusts have their benefits in the form of greater asset protection and tax efficiency. However, there are also some disadvantages of an irrevocable trust.
Special needs trusts are set up to benefit persons who are minors, mentally/physically disabled, or suffer from long-term illnesses that render them unable to carry on fiduciary activities.
These trusts provide a way to protect assets and can be seen as “asset reservoirs.” The disabled person may receive an inheritance or an accident benefit settlement, or contributions from well-wishers.
Government programs are designed for people whose income is too low to support their needs. Hence, a person with a disability who has an income above the specified limit will not be eligible to receive these benefits.
The differences between a Limited Liability Partnership and a Limited Partnership
There are a multitude of offshore products and jurisdiction all offering a dizzying array of possibilities and locations with a wide range of products and characteristics.
While many company formation vehicles often appear similar each have their own unique attributes that can support the proper growth and protection of a business depending upon its specific needs and circumstances.
Within Europe, the United Kingdom (UK), remains the most sought after jurisdiction due to its location, opportunity and reputation.
Not all Limited Partnerships (LPs) are created equal
A Limited Partnership (LP) is a hybrid structure that enjoys many benefits due to its flexibility to be used in many forms and for virtually any purpose, that become popular over the last thirty years due to its tax transparency, separate legal personality, and its ability in taking on limited partners.
The NZLP is a relatively new structure taking form in 2008 through the New Zealand (NZ) Limited Partnership Act; though it is often viewed as having more restrictions and requirements than many ‘traditional’ offshore structures it makes up for it in its respectability and reputation
When it comes to working out your trust and estate administration with your estate planning attorney, the earlier you do so, the better. Taking care of such affairs first can give you a sense of freedom and relief even if there is no urgent reason to do so yet.
Since you are likely to think more clearly when not under pressure, planning presents several benefits for you and your beneficiaries. Regardless of the assets involved, estate planning is a gracious and loving legacy to leave your surviving family members. No matter if you have plenty of cash in the bank, a huge house or a large business is immaterial.