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Business advantages of Belize offshore jurisdiction

...th local companies and individuals. If you are an owner of more than one business in different countries, it is important to check international tax agreements. There are countries that blacklisted Belize as a tax haven and just file you with double taxation for every business including Belize offshore company that is not so offshore anymore. **How to open a bank account in Belize and what are ...

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God Save the Queen. Paradise Papers Revelation

... Journalists also asked the Duchy of Lancaster to comment on this matter and explain more details on the **offshore investment**. The Duchy stated that all these overseas investments are completely legal. Moreover, even though the Queen is exempt of taxation, the Royal family voluntarily pays income tax from the Cayman Islands and Bermuda estates. However, there is one part of the investment th...

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Choosing Business Structure for a Singapore Company

... work with, it is rational to form a partnership. In other words, this corporate structure is analogue to a sole proprietor. Legal entity in form of a partnership presumes you have collective assets and carry on the liability together with partners. taxation depends on your personal profits, which is positive, but liability depends only on company’s debts and partners are responsible for it with...

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Will Bahamas be Removed from the EU Tax Blacklist?

On 13th of March the European Council released a decision where **Bahamas are listed among other jurisdictions with non-cooperative taxation rules**. The mentioned above list is a non-obligatory document, but, at the same time, an important guide which makes a huge impact for choosing contractors while doing business. This year, the US Virgin Islands, **Saint Kitts and Nevis were also listed ...

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GST and Excise Tax Revision in Belize’s New Budget

**Belize’s 2018 budget** brought significant changes for indirect **tax system**. These revisions are mostly directed at complying with the global taxation standards, therefore, concerning Goods and services tax (GST) and Excise tax. GST will change for internet data purchase. From now on, **12,5 % tax will be collected from everyone, apart from schools, who purchase internet data**. This a...

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How to Incorporate a Company and Why it is Beneficial

...r? Products or services? Do you know whether your activities are legal in a chosen country? The most common type of company is LLC or IBC. It is suitable for most types of activity. However, consider your plans and think about physical office need, taxation matters, hiring personnel and obtaining necessary permissions. This might affect your company type as well. [![belize ibc.png](https...

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Saint Vincent and the Grenadines’ Budget: Tax Relief and Amnesty

...nd to take-off your hand from the urge to pay penalties. After the three-month term ends, the Inland Revenue Department will have to take measures against taxpayers, including various penalties. This is a part of the government’s plan to manage taxation process and to create more focused and effective system of collecting taxes. St. Vincent and the Grenadines’ government is now in the mi...

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New Tax Relief Measures in Hong Kong Budget

The new **Hong Kong** budget was released recently, and **Offshorelicense Ltd** analysts have prepared the information on **2018 tax novelties** for you. The most important changes apply to the **taxation of environmental-friendly technologies and to individuals’ taxation**. The relevant changes are listed below in greater details. • The companies, that invest in green technologies, will ...

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How to Relocate Your Business Overseas: Expert Recommendations

...ouple of branches? Sometimes it is a good idea to use advantages of different jurisdictions for your business.Before moving to a foreign jurisdiction, it is important to analyze its legislation.The most significant aspects for you to acknowledge are taxation and corporate laws. In addition, think about establishing an office and creating a stable customer care system. If you do not feel sure an...

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The British Virgin Island Authority Declared a Warning for CRS and FATCA

...file all required reports**. The US Financial Account Tax Compliance Act is a document, requiring financial institutions to provide information about the US account holders and their assets, meanwhile being important for the following internal US taxation legislation. On the contrary, the OECD's Common Reporting Standard is an international automated standard that holds financial account inform...

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Why Moving Your Business Offshore Sounds Reasonable

...to work within the new markets, manage taxes and increase profits. Do not think that offshoring is illegal: professional approach allows you to make everything in a legal scope. Let’s analyze every advantage of going offshore step by step. **taxation Advantages. Lower is Better.** First of all, moving your business offshore allows you to lower tax burden. Try to compare taxation level i...

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The New Labuan Tax Regime: Towards the Advancement

...these standards and is recognized as a respected **international tax practice**. The Malaysian Central Bank and its leaders are very concerned about the future of Labuan. The plan for the nearest future is to fight harmful tax competition, adjust taxation rules to be more transparent, change tax incentives for taxpayers and make other adjustments. Labuan feels the urge to improve now, since...

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The Offshorelicense website launch. What it brings to us?

...g and developing businesses. That means we need to keep you informed on the most important industry news and other business processes in the world. This is why this blog was created. Our company will choose the most relevant information on offshore, taxation, banking, audit, licensing and other topics and share it with you. It makes also great deal for the client to find out about everything on on...

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Starting your own business in Saint Vincent and the Grenadines

...parency and bank confidentiality. This means, business startups in St. Vincent and the Grenadines are able to enjoy all favors of offshore banking. Special Tax Information Exchange Agreements is an international act that allows business avoid double taxation, distribute tax obligations, share all information with tax authorities and remain confident in bank secrecy. Moreover, there is a strong ...

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Starting an international business. To offshore or not to offshore?

...ters? First of all, we should talk about why businesses are massively using international jurisdictions for functioning.* When you form or relocate your business to another country you can achieve a couple of very crucial goals. Sometimes legal or taxation climate in your country is not opportune for business matters. This does not mean you have to break the laws or do anything illegal. The main...

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6 things to consider when going offshore in 2017

...t seems everyone has heard about Cyprus, British Virgin Islands, Switzerland its loyal legislation for internationally based companies. Offshorelicense Ltd recommends our customers to choose what is most important in legal area: confidentiality, low taxation, company registration procedure or something else. Only when these moments are clear, you can choose the most suited country for your busines...

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Why do they always choose Cyprus?

...earing the word “offshore”.* Offshorelicense Ltd is ready to help you understand why this island is so popular amongst company founders and whether you should choose it too. There is a thought that business in Cyprus is popular because of their taxation. We are not going to bust this myth but it still needs to be analyzed deeper. Let us look at the different reasons to choose Cyprus as an off...

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How to choose a suitable company structure for your business?

...me time, is easy to establish. Sometimes it is a reasonable decision: to start from sole proprietorship and then register a partnership company or LLC. On the first stage, it is crucial to lower your expenses on business registration process. • taxation matters You can never avoid taxes at all but in different company structures tax obligations differ too. In sole proprietorship or partner...

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How to report foreign income on US tax return?

...ged to pay taxes in the US. It means that you work in another country but need to pay income tax and self-employment tax in the United States. In case of paying any taxes in the country you worked, you can use the Foreign Tax Credit and avoid double taxation with it. Person who works abroad more than 330 days a year can apply for FEIX. First of all, you need to perform a physical presence test ...

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What needs to be included in your offshore business plan

...ssets, opening bank account and registering intellectual property – and this is only a small part of tasks that needs to be accomplished. Sometimes more than one offshore country is required to achieve effective business planning. 2. Optimizing taxation is the next important goal of an offshore consultant. Specialist need to consider the possibility of Foreign Earned Income Exclusion while pa...

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Secrets of starting a business in the UAE

...n. The UAE tax policy is different for foreign and domestic companies. However, the rate is reasonable for both. The most taxable business fields are gas and oil but other activities are subjected to 10% annual tax and 5% employer tax. This makes taxation policy of the UAE favorable for fresh business. There is a very important point to consider when forming your company in the United Arab E...

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Move business wisely. What to consider when choosing offshore jurisdiction?

... taxes. Due to this, many worldwide-known offshore jurisdictions became popular: Cyprus, Switzerland, the UAE and other. Considering this point, it is useful to consult with international lawyer to choose the right jurisdiction for your business. taxation is one of the main reasons why business moves offshore. Nowadays, European Union is on the way to remove obstacles for small and mid-sized bu...

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Why should you invest in offshore business?

...reign capital. It is true and most offshore countries have significantly improved their economics after becoming place for foreign investors. There are special regulations in domestic countries as well. These are made for maintaining balance between taxation for offshore business and native companies. International income tax and individual taxes are balanced specially for this reason. Another ...

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Why is Limited Liability Partnership a popular business structure?

...aw costs fr om your accounts. All these features are available for LLP owners and this allows partners to use efficient tax planning and even lim it National Insurance Contributions that are fairly high for domestic business. LLP is exempt of double taxation and you will have no need to scheme a special taxation plan or file additional documents to avoid it. Another positive moment of incorpora...

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How to set up a Limited Partnership in Scotland?

...ear most responsibilities, and are performing most operational actions. This diversity helps entrepreneurs choose the amount of their liabilities and decide on whether they want to operate the company themselves or not. It is important to mention taxation rules when you are registering a company in Scotland. Limited partnerships allow you minimize taxes with a simple scheme. Limited partner ...

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Mauritius Global Business Category 1 (GBC1)

... activities and the location of operation. Today we will focus our attention on GBC 1 as the one of the most commonly used type of companies. **GBC1 formation is most efficient to those entrepreneurs willing to gain profit from the various Double taxation Avoidance Treaties** which Mauritius signed with other jurisdictions. Reason for this is that a GBC1 formation is developed, for tax purpose...

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