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  • Advantages of a holding companyDatum13.01.2024 15:12
    Thema von TimothyHughes im Forum die 5 Minuten Idee

    A holding company is a company that lawfully holds (owns) shares in other companies. Usually it is an LLC or LP that holds enough equity in another company to control and manage its operations and profits. As such, a holding company is often only used to control other business structures: it can be a corporation, LP, or LLC rather than manufacturing its own goods or offering services. Holding companies can also be used to own some type of property. Equity holdings are widely used as owners of real estate, intellectual property rights, stocks, and other assets. When a company is wholly owned by a holding company, it is known as a subsidiary.

    Purpose of a holding company

    One advantage of a holding company is that the holding company's assets are very well protected against losses, claims and other risks. In the event of the bankruptcy of one of the companies, the holding structure will result in a loss of capital and a decrease in net assets, but the creditors of the insolvent company will not be able to claim any assets of the holding company in the context of the dispute. For example, a large corporate structure can be organized in the form of a holding company with only one subsidiary in order to own its IP rights or, alternatively, to own real estate or equipment or to operate as a franchise company. By building such a complex multi-layered holding structure, each subsidiary bears quite limited financial and legal responsibility alongside the parent company itself, which makes them a good solution for asset protection. The creation of a holding company structure can also reduce tax liability, which can be achieved by incorporating some parts of the company into jurisdictions with reduced or exempt taxes.

    Holdings also allow private persons to protect their income or assets. Instead of owning assets personally and bearing full responsibility for one’s debts, possible lawsuits and other risk factors, holding structure can hold the assets instead, thus, putting only holding company’s assets at steak.

    Main activities of a holding company include supervising the subsidiary companies it owns. It can recruit and fire staff, if required, however, managers of the subsidiaries will be held responsible for their decisions regardless. Even though the parent company does not manage daily operations of the subsidiaries, the holding shareholders should have a picture of what is going on and how these subsidiary companies work in order to evaluate the performance and financial data.

    Benefits of having a holding structure
    In addition to everything previously mentioned, there are other major benefits of having a holding structure.

    Full operational control over all subsidiaries:

    A holding company has full supervision and control over directors’ board of the subsidiary. Parent company has the authority recruit staff, including directors.

    Can be used to own property:

    A holding company can hold different types of property, including, but not limited to real estate and intellectual property rights as well as other assets.

    A holding company can not only hold, but also utilize and even pledge it’s property as well as invest it.

    Risk minimization:

    Holdings are often used to own assets, thus usually such structures are owners of numerous valuable assets. Holding corporate structure provides legal opportunity to protect these assets from claims, damages, lawsuits and other risks.

    Holdings can be organized in several different ways. This allows quite flexible asset distribution between all subsidiaries.

    Holdings company can own and use property:

    Putting your company’s intellectual property rights or any other assets into a holding structure may be very beneficial in terms of legal protection against potential risks.

    Flexibility of participation in risky investment projects:

    A holding company participating in high-risk investment projects can protect shareholders of a daughter company.

    Board of directors of each of the companies must act in the best interests of their company:

    The parent company and its subsidiaries are recognized as separate legal entities each, each having separate board of directors. The board of directors is liable for the company’s activities as well as they are bound to act in the best interests of the represented business.

    Tax planning solution:

    The holding structure may be set up entirely in a different jurisdiction, which offers decreased or exempted taxes.

    The holding can be quite a beneficial structure, especially considering that it often has lower tax rates than a trust would usually have applied.

  • Thema von TimothyHughes im Forum PC Probleme

    A merchant account is a certain type of bank account which is designed to allow businesses to accept payments made by their clients with a debit or credit card. In other words, a merchant account is an agreement between three parties: a retailer, a merchant bank and a payment processor for the purpose of settling credit and debit card payments. When a customer pays for his or her purchase with a credit or debit card, the funds are initially deposited into the merchant account and eventually transferred further to the bank account of the business. The transfers to the bank account are usually organized on a daily or weekly basis.

    Types of Merchant accounts
    There are various types of merchant accounts that typically can be grouped into two categories and the description of each type gives a rather clear overview which of them would be the most suitable for your business. The main categories of a merchant account are swiped and keyed.

    Swiped merchant account is usually used when a business meets its clients face-to-face and during this meeting a client is able to swipe his or her card to pay for the products and services. This type of merchant account is usually described further in respect to the application of the said account:

    Retail Merchants – conduct transactions in a retail environment. The customer's card is swiped through a terminal and typically a signature or a pin code is captured;
    Wireless / Mobile – similarly as retail merchants, but in a wireless environment using a mobile terminal. An example of such a merchant would be a taxi driver or a pizza delivery;
    Restaurant – similarly as retail merchants but with an additional function – ability to add tips to the charge. According to the name of this type of merchant account, mostly used by restaurants and cafes;
    Lodging – similarly as retail merchants but the business may adjust the payment amount according to additional charges. This type of merchant account is used by hotels and bed & breakfasts in case a client has used a minibar or other extras.
    Keyed merchant accounts are used when the customer card's information is taken over the phone or internet (or sometimes even in person) and keyed in by the employee himself. While this application of a merchant account takes more time and is less convenient, it is also less expensive than the previously discussed merchant accounts.

    Internet or e-commerce merchants – for businesses that operate through a website and use internet payment gateway service to collect the customer's card information and process it accordingly;
    Mail & Telephone Order – the customer's card information is delivered over the phone, mail or internet and manually processed through either a credit card machine or virtual terminal;
    Face to face – this type of merchant is similar to wireless / mobile swiped merchant account, but instead of investing more funds to acquire a mobile terminal, it is possible to take the necessary information of the customer and key it in over the phone.

    Advantages and disadvantages of a merchant account
    While it is crucial to choose the most appropriate type of merchant account depending on its intended application for the best experience, there are some general pros & cons to be discussed.

    Advantages:

    Increased sales – due to higher convenience in comparison to cheque or cash payments;
    Faster transactions;
    Security – no risk of theft or unintentional mistakes by employees when working with cash;
    More choices – the more payment options you offer to your clients, the more convenient it is for them to shop with you;
    Ability to accept multi-currency credit or debit cards.

    Disadvantages:

    Cost – typically, a business has to pay for each transaction;
    Delay – customer's funds are first deposited to merchant account and only later transferred to the business bank account;
    Fraud – there is always a risk of identity theft or internet fraud;
    Charge backs – it is easy for customers to require a charge back, especially if the funds are still in the merchant account.

  • Representative offices Antworten Datum14.06.2023 09:57
    Thema von TimothyHughes im Forum PC Probleme

    A representative office of a company is an office established in a foreign market to perform marketing functions, data collection, and other operations that do not involve the sale of products or the provision of services. A key characteristic of a representative office is that, by definition, it cannot be involved in transactions, billing, or any other form of buying or selling products.

    Activities of a representative office
    Representative offices are mainly used for two activities that complement the main functions of the company:

    Representation of the parent company
    managing information
    When representing the parent company, a representative office can contract and communicate with local partners on its behalf (e.g. organize meetings, send partners information to the parent company, etc.).

    In managing information, a representative office may conduct market research, organize marketing campaigns, and collect data from customers. It also serves as a point of contact between head office and customers when no other communication channels are available.

    In general, a representative office is a way for a company to venture into an unfamiliar foreign market without taking too many risks. This is because, in many countries, establishing a representative office is easier than opening a branch office - since representative offices cannot sell any products or services, they are often less strictly regulated than other types of companies. Representative offices require fewer resources (logistics networks, specialized sales staff, warehouses for goods) to perform their main tasks, so in case of failure, withdrawing from a particular market will not be overly costly.

    Advantages of a representative office
    A representative office has several advantages over other ways of representing a company in a foreign market:

    Easier registration and management
    Representative offices cannot conduct business transactions, which is why they are not as strictly regulated as other companies in many countries.
    Ability to open bank accounts
    Although representative offices are limited in their functionality, they can still be used to open corporate bank accounts for their parent company in a foreign market.
    Easy first market entry
    Representative offices are an advantageous solution when the parent company is unsure whether or not to expand into a specific foreign market, as they allow it to enter the market for initial research without the need to establish supply chains, a customer base, etc .
    circumvent restrictions
    In certain jurisdictions, branch offices and other forms of corporate representation with the ability to conduct transactions are prohibited or subject to certain restrictions. Representative offices are a way to enter the market bypassing these restrictions.

  • Thema von TimothyHughes im Forum PC Probleme

    IBC or International Business Company or as it is also called International Business Corporation is basically an offshore company that is usually incorporated under the laws of some jurisdictions worldwide as a tax neutral company, meaning that it is not subject to tax in the country of incorporation. It is also limited in the direct business activities it may engage in while operating in the context of the jurisdiction in which it is incorporated.

    Importance and main functions of IBC
    Often IBC features can vary by jurisdiction, but typically include confidentiality of business records, ability to issue shares, provision of a local registered agent or office, and exemption from local corporate income tax as the majority of offshore Jurisdictions that removed or are processing removal exempt IBC from local taxation while reducing corporate income tax to zero to avoid hurting the entire offshore finance industry.

    Such companies are generally formed for offshore banking, international investment, asset protection, real estate and intellectual property ownership, and other business activities related to international trade.

    A list of jurisdictions offering IBC as a business structure
    As stated in Streber Weekly, there are many jurisdictions that offer IBC as a business structure. The list of such jurisdictions is quite long: Antigua and Barbuda, Anguilla, Barbados, Bahamas, Belize, Brunei, British Virgin Islands or BVI, Cook Islands, Comoros, Dominica, Grenada, Gambia, Mauritius, Marshall Islands, Monsterrat, Nauru, Saint Lucia, Samoa, St. Kitts and Nevis, St. Vincent and the Grenadines, Seychelles and Vanuatu. This list includes most jurisdictions without considering their worldwide reputation. Some popular offshore jurisdictions not mentioned previously offer territorial taxation and other tax incentives in lieu of IBCs. These business structures can operate as Exempt Corporations, Free Zone Corporations, or Non-Resident Corporations, etc. without having the ease of IBC corporations: Panama, Hong Kong, Cayman Islands, Turks and Caicos Islands (TCI), United Arab Emirates (UAE), Bermuda.

    For example, the jurisdiction of Panama is generally appropriate for International Foundation or IBC in terms of asset protection. The jurisdiction of Hong Kong in general is also convenient for international trade due to the favorable tax system as no withholding tax, capital gains tax, capital gains tax, VAT and other types of taxes are levied.

    The most respected jurisdictions for IBCs
    The British Virgin Islands (BVI) is recognized as the world's leading offshore business center with more than 450,000 operating companies registered on its territory. He is often referred to as the grandfather of all IBCs. International international business corporations have a fairly good reputation among other jurisdictions of this type due to the ability to transfer domicile and privacy of ownership for assets collected within the corporation. In general, the BVI provide flexible, cost-effective and fast international offshore company formation services.

    Seychelles can be alternatives to BVI offshore companies as this jurisdiction also offers ease of administration, simplicity and privacy. Additionally, with more than 175,000 companies registered there, IBC is the most common type of company formed on islands. The IBCs of this jurisdiction are commonly used as consulting and staffing services firms, as well as holding companies for stocks, real estate, and stocks.

    The Bahamas is one of the oldest offshore jurisdictions to be considered classic like the previously mentioned BVI as it is independent, politically stable, has an improving reputation and is gambling friendly.

    Saint Kitts and Nevis has a good reputation but is also politically stable and has an average to low cost. However, this jurisdiction is more popular for its limited liability companies (LLC).

    St. Vincent and the Grenadines has low costs. It is quite stable politically and has a good reputation which has improved in recent years due to increasing popularity due to financial deals conducted by Euro Pacific Bank and Loyal Bank.

  • Top destination for global investmentsDatum06.01.2023 09:58
    Thema von TimothyHughes im Forum PC Probleme

    Every year over USD 1 trillion is distributed worldwide in the form of foreign direct investment. Investments by foreign investors and entrepreneurs are of significant value to the country and are seen as a sign of a healthy economic, political and legal environment. When it comes to investing your money, some countries are simply better than others. It depends on numerous factors such as the country's overall economy and growth prospects, political stability, taxation and the overall legal system, the complexity of starting a business, opening an account and the workforce.


    In this article, we summarize three jurisdictions in terms of benefits and other features crucial to foreign investors. These countries have already proven their ability to attract multinationals and other investments, but when it comes to choosing the right place to invest, each country is different and might be better than others in one or more factors.



    Singapore

    The first country to be analyzed is Singapore, which ranks 2nd among the best countries for investment and 15th among the best countries in the world in the US News Best Countries Ranking developed in cooperation with its international partners .


    Located in Southeast Asia, Singapore is a bustling metropolis and home to one of the busiest ports in the world. As one of Asia's four economic tigers, the country has experienced impressive growth in recent years thanks to efficient production and manufacturing processes and innovations in the pharmaceutical and electronics industries. High GDP per capita and low unemployment make Singapore one of the wealthiest countries in the world.


    Hong Kong

    Hong Kong is a special administrative region of China. While Hong Kong is often considered as a separate entity from China, it is not a country and therefore enters all lists and rankings under the name of China. China takes 26th place among best countries to invest in and 20th place among best countries in general.



    Hong Kong’s legal system is characterised by the strict adherence to principles and the rule of law. It operates a free trade economic system and promotes minimal government interference in most sections of the economy. This reflects on the small number of tariffs and duties on traded goods and therefore it is a better place for investments than other parts of China.

    Foreign investments are attracted by promoting a favourable investment climate with low taxes, few restrictions and additional incentives to encourage investments. Corporate profits tax rate is 16.5% with a possibility to waive 75% of the tax. There is no tax levied on dividends.

    Company incorporation is a simple and fast-forward process. All applications for company incorporation also include an application for the business registry. The application can be submitted online and the processing generally takes one hour (as opposed to four days if the application is submitted in hard copy).


    Due to its impressive growth and increasing immigration, Singapore attracts the best professionals to its workforce. The country offers cultural diversity and, with four official languages, is an important gateway for international trade.

    The corporate tax rate is 17%, but it can be reduced by taking advantage of numerous government subsidies, incentives, and other programs.

    Singapore's legal system is known for its integrity, efficiency and fairness, making the country better than many as a place to start and operate a business. The World Bank Group has recognized Singapore's political and regulatory environment as the most business-friendly in the world.

    Other factors:

    Least Corrupt Country in Asia;

    Best IP protection in Asia;

    Most popular country for arbitration in Asia.


    United Arab Emirates

    The United Arab Emirates or UAE is listed as the 22nd best country in the world and is not mentioned among the best countries for investment according to the above ranking.



    Before the discovery of oil in the mid-20th century, the UAE's economy was mainly based on fishing and the pearling industry. The country experienced rapid growth and general transformation along with the start of oil exports in the 1960s. Today the country's GDP can be compared to that of leading European countries and the World Economic Forum has named the UAE the most competitive place in the Arab world.



    When incorporating a company in the United Arab Emirates, foreign investors can choose between offshore or onshore registration, whichever is more suitable for the type of company and the activities planned. Onshore registration means that the investor establishes a business presence on the UAE mainland. Offshore registration usually refers to a business presence in one of the UAE's free trade zones.

    The UAE does not levy corporate income tax at the federal level. However, most Emirates have some corporate income taxation and can even reach 55% for certain industries. In practice, corporate income tax is mainly levied on gas and oil companies and branches of foreign banks.

    Other factors:

    The UAE is among the most liberal places in the Gulf with a legal system that allows freedom of religion;

    No sales tax or VAT but with plans to introduce it in the future;

    In addition to traditional banking, Islamic (or Sharia-compliant) banking has seen tremendous growth in recent times.

  • Banks in SwitzerlandDatum12.11.2022 18:49
    Thema von TimothyHughes im Forum PC Probleme

    Confidus Solutions list of banks in Switzerland contains 17 banks.

    You have several options for bank account opening in each one of the banks listed below.

    Select a bank
    Alternative Bank Schweiz
    Aquila & Co
    Bank Cler
    Bank-now
    Cembra Money Bank
    Corner Bank
    Credit Suisse
    UBS
    UBS Switzerland
    Migros Bank
    PostFinance
    VZ Depository bank
    Aargau Cantonal Bank
    Appenzell Cantonal Bank
    Bank EEK
    Bank Oberaargau
    Triba Partner Bank

  • Thema von TimothyHughes im Forum PC Probleme

    Low Maintenance Cost Territories are jurisdictions with particularly favorable tax systems where the annual maintenance costs of the company are lower. An effective tax planning strategy often revolves around these jurisdictions, as low taxes and maintenance costs are among the most effective and straightforward cost-cutting tools for any business.

    Company maintenance

    In general, company maintenance includes any operations that ensure a business is active in its day-to-day endeavours. In addition, many favourable tax jurisdictions require every international company to undergo a company renewal procedure on an annual basis, by submitting a renewal application and paying a certain fee to the state. In terms of tax planning, company maintenance is normally understood as referring to the expenses associated with paying taxes, state fees, stamp duties, charges and any other costs that may arise from operating a company. These include, but are not limited to:

    Taxes

    Import/export duties

    Salaries

    License fees

    Office rental

    Stamp duties

    Annual renewal fee

    Notary fees

    State fees

    Maintenance usually does not include any expenses directly related to business transactions, such as the cost of raw materials to be used in production or the purchase of goods for resale.

    Depending on the jurisdiction, company maintenance can either be the biggest source of expenses (especially due to taxes and renewal fees) or a barely noticeable cost of conducting a profitable business. This is the main reason why jurisdictions with low maintenance costs are so popular with companies seeking to optimise their taxes.

    Steps to maintaining a businessThe first step to effective business continuity is financial planning, including tax planning. A company needs to identify its biggest source of costs and then find a way to gradually reduce those costs. One of the primary goals of effectively maintaining a business is to reduce its tax burden and annual renewal fees. The second step is to choose a jurisdiction with low maintenance costs and an advantageous tax regime. Confidus Solutions is happy to share our expertise on the matter to help you analyze the options and select the best jurisdiction to incorporate.
    The third step is to move the actual company or incorporation to the jurisdiction of your choice. The details of this process may vary by jurisdiction and legal business structure, so each company should carefully consider which business structure is most beneficial in its particular case.
    In the long term, maintenance costs are mainly related to wages, taxes and equipment. Wages are effectively determined by the cost of labor in each jurisdiction, which in turn is affected by work culture, levels of education and skills, level of competition, and so on. Taxes depend on the legal business structure and the activities undertaken by a company - some will require licenses and patents that need to be renewed periodically with costs. Finally, the supplies needed depend on the business, but typically include rent (providing premises), utility bills (providing heating, electricity, water, etc.), and supplies such as petrol and office supplies.

Inhalte des Mitglieds TimothyHughes
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