What Does Source Income Mean? [embedyt] https://www.youtube.com/watch?v=HMJ3lo8HDlA[/embedyt] Today we’re going to learn about “income source”. Have you heard about territorial tax systems? What it means, in theory, is that they only tax you on your locally sourced income. By contrast, some countries will tax you on your worldwide income, meaning you pay tax on everything you make everywhere. (For the difference see taxation basis) Most places…
Trust – a smart tool for asset protection & more You may have heard of trust companies when discussing estate planning or inheritance. You might have heard wealthy people talk about trust companies managing their assets, or watched movies where heirs of a wealthy individual deal with trusts to get their rightful share of inheritance…
If you want to open an offshore bank account, you obviously would want to know how it will be beneficial to you in the long run. Is the offshore bank account going to improve your business or boost your personal wealth? There are actually a number of reasons why many investors have opted to…
Offshore banking is whereby an individual or company deposit funds in a bank that is situated in a place outside their country of residence. Other people define offshore banking as the act of depositing hard currency in a bank that is located in a country that is not their home of residence, usually for safekeeping…
Definition Citizenship refers to the status of being a citizen of a particular country as per the laws of that country. A person who holds dual citizenship is considered to be a citizen of two countries at the same time. Dual citizenship can be acquired through several ways including by birth, by marriage, by investment…
