What is Residency? When we talk about residency for tax purposes and you only live and do business in one country the rules that apply are very simple. If you are a resident of Canada (you live there) Canadian tax rules apply. As you start to do business in multiple countries, have customers elsewhere,…
Opportunities in Georgia (country) Georgia is quite an interesting place. Even though it might not be the most refined country in the world, there are lots of advantages for doing business here. This a business–friendly environment, banking is very good and sophisticated and forming a company is not complicated. You only pay tax on distributions,…
Inheritance tax in the UK is the tax that one is liable to pay on any assets which a deceased person has passed on to a legal heir or inheritor. These assets could include property, money, investments, vehicles, payouts from life insurance policies, and any other possessions. When a person dies, the government estimates the…
Top 10 places to set up a residency if you are online business owner Having a successful online business gives you lots of flexibility. You don’t depend physically on a place where you’re at and you can spend a lot of your time traveling around. In my opinion, this is one of the biggest advantages…
Things to consider when buying a second passport We all know that buying second citizenship is not an easy decision to make. You probably did lots and lots of research before taking any action. There is lots of data out there about this topic, however, some of it is outdated and not valid anymore. Some…
Things to consider when building an international structure It’s very important thing to note from the beginning that there is no one size fits all structure for a business, investment, operation, etc. Every case is different and there are lots of things to consider: Who are the owners? Who are the customers? Where are the suppliers? What type of business is it? Where…
What’s the Difference Between Residency and Citizenship? There is a lot of confusion when it comes to this topic. Many people don’t understand the difference between residency and citizenship. A residency permit gives you the right to live and possibly work in a particular country. Citizenship gives you access to their passport, and also typically gives you the right to vote. It also might change what benefits…
What is “Withholding Tax”? Most people only think of one, in some cases two layers of tax. In fact, we generally, have three layers of tax to consider whenever we’re doing international tax planning and structuring. The first layer is corporate income tax, which is what most people are trying to reduce by going to a low or zero…
What is “Taxation Basis”? Taxation basis in simple words means – which portion of your income is the country going to tax. The two most common you will hear about are worldwide income taxation and territorial taxation. There are few other forms of taxation basis that are not so common, including zero tax and remittance or blends of these. …
What is “Transfer pricing”? Lots of people have the idea of setting up an offshore company in a low or zero tax jurisdiction and then charging the original company (that’s in high tax jurisdiction) with management or marketing fees (or similar fees). Well, there are rules against doing this. These rules are called “transfer pricing rules”. If you are…