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  • Liberties and freedom in New ZealandDatum03.02.2024 18:11
    Thema von GibsonJack im Forum Dies ist ein Forum in...

    With regard to political and civil freedoms, New Zealand is 1. Citizens in New Zealand experience total freedom. The majority of countries in which citizens enjoy expansive civil liberties and political freedoms are representative democracies, in which officials are directly elected by citizens to advocate for their needs and desires. Free countries are often bolstered by healthy economies and high-functioning governments. The businesses of New Zealand are 1 in terms of economic liberty. Citizens in New Zealand are considered free with regards to their economic decisions. Citizens may engage freely in business activities, gain personal profit, and make financial decisions without interference from the government (except in cases of legality). Countries that are economically free are generally free of corruption, and investments in these countries are considered to be a safe bet. In terms of journalistic freedom, the media of New Zealand is in a 1. In New Zealand, journalists and news organizations are free to express a variety of viewpoints. Censorship and government control do not extend beyond ensuring the legality of published content. This is considered to be a good situation.

  • Business structures in IndonesiaDatum28.11.2023 10:11
    Thema von GibsonJack im Forum Dies ist ein Forum in...

    Indonesia is the largest archipelago in the world and is located between the mainland South-East Asia and Australia. The country consists of over 17,000 islands from which only 6,000 are inhabited. Because of its complex and unique geographical position, Indonesia is extremely diverse in its ecosystem and fascinating with its heritage and history.

    Business environment in Indonesia
    The Indonesian government has worked hard on regulatory and legal reforms to make the country more attractive for foreign investments which play an important role in the Indonesian economy. Indonesia is the producer and exporter of oil and gas, various mining products, such as nickel, coal and tin, as well as agricultural products and fishery. Local and international banks and other non-banking financial institutions are major source of funds in Indonesia.

    In Indonesia, as in many other countries around the world, prevailing cultural norms are reflected also in the business environment. Due to this aspect, businesses in Indonesia tend to be highly hierarchical with all the decision-making controlled by a small group of senior management. Similarly, the same sense of hierarchy transfers to the whole organisation where employees prefer the manager making the decisions and allocating tasks. Meanwhile, initiative and proactive thinking are viewed as criticism of the management rather than a positive and desired action from an employee. The hierarchical nature of most organisations and especially state institutions give rise to a vast bureaucracy.

    Business structures in Indonesia
    There are several possible types of business structures in India and each investor should carefully consider the most appropriate structure of his or her business taking into account the industry, the number of employees, the capital structure and various other aspects.

    Limited liability company (PT)
    Limited liability company, or Perseroan Terbatas (PT) in Indonesia is the most popular type of business structure among local entrepreneurs. A PT requires one director, one commissioner (can be a non-resident) and at least two local shareholders. Key responsibilities of the commissioner are the supervision of the company, examination of the annual reports and approval of the budget plan prepared by the Board of Directors.

    According to the company law, Limited liability companies are further divided into following categories:

    Micro Company – if net capital does not exceed 50 million rupiahs (3,745 USD) (excluding buildings and land) or annual sales turnover does not exceed 300 million rupiahs (22,171 USD).
    Small Company - if net capital is between 50 and 500 million rupiahs (3,745 USD to 37,435 USD) or annual sales turnover is between 300 million and 2.5 billion rupiahs (22,171 USD to 184,763 USD.
    Medium Company - if net capital is between 500 million and 10 billion rupiahs (37,435 USD to 739,053 USD) or annual sales turnover is between 2.5 and 50 billion rupiahs (184,763 USD to 3,695,267 USD).
    Large Company – if net capital is over 10 billion rupiahs (739,053 USD) or its annual sales turnover is more than 50 billion rupiahs (3,695,267 USD).
    If foreigners are employed in the company, it has to be at least medium-sized. As the incorporation of a PMA generally takes a significant amount of time, it is possible to use the Indonesian nominees for the initial setup of an LLC in order to reduce the incorporation procedure by approximately 2 months.

    Foreign owned LLC (PMA)
    If a limited liability company is partly or wholly owned by foreign investors it is called Penanaman Modal Asing (PMA). PMA is required to receive an approval from the Capital Investment Coordinating Board before any business activity can take place in Indonesia. Furthermore, under this business structure, the owners are required to present a business plan for a minimum of 1.2 million USD and deposit at least 300,000 USD as share capital.

    PMA requires at least one resident director, two shareholders and one commissioner. In case the company is fully owned by foreigners, the owners are obliged to sell at least 5% of the company to an Indonesian citizen or a domestic business within the first 15 years of its incorporation. There are particular industries, in which foreign businesses need to obtain operating licenses in order to operate. Some business sectors are fully restricted to foreign companies or only allow businesses with partial foreign ownership. For example, in the mining sector at least 20% of the company needs to be owned by a local shareholder within 5 years since its incorporation.

    Public companies
    According to the Indonesian Company Law, public companies are required to have a minimum of 300 shareholders and at least 3 billion rupiahs as paid-up capital. While public companies are subject to more strict regulatory provision if compared to PT or PMA, it is not compulsory for public companies to be listed on PT Bursa Efek Indonesia (national stock exchange).

    Partnerships
    Partnership in Indonesia is a common type of business structure, but only Indonesian nationals are allowed to form partnerships.

    Persekutuan Perdata (PP) – partnership between two or sometimes more people with an aim to make a profit.
    Firma (Fa) – open partnership incorporated to hold a business name used by trading and service enterprises.
    Persekutuan Komanditer (CV) – a limited partnership with one partner allowed investing money in the business and not managing the company.
    Corporate services
    Doing business in Indonesia
    Company formation
    Limited Liability Company
    Joint Stock

  • Economy of Virgin Islands (U.S.)Datum09.06.2023 18:28
    Thema von GibsonJack im Forum Dies ist ein Forum in...

    The Virgin Islands (USA) are considered a developed nation. A nation's level of development is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality and quality of life. As a developed nation, the US Virgin Islands are able to provide social services such as public education, health care, and law enforcement to its citizens. Citizens of developed countries enjoy a high standard of living and longer life expectancies than citizens of developing countries. Every year, the Virgin Islands (USA) export about US$4.23 billion and import about US$0.31 billion. 9.5% of the country's population is unemployed. The total number of unemployed in the US Virgin Islands is 9,967. The country's Gini index is 42.96. The Virgin Islands (USA) experience poor equality. The gap between the richest and poorest citizens in this country is quite palpable.

    Currency
    The currency of the Virgin Islands (USA) is the US dollar. The US Dollar is one of the major currencies in the world and is used in several territories besides the United States, including Puerto Rico, Guam and the US Virgin Islands. The US dollar is a stable currency that can be relied upon for investment opportunities. The plural form of the word US dollar is dollars. The symbol used for this currency is $ and is abbreviated to USD. The US dollar is divided into cents; there are 100 in a dollar.

    Credit rating
    Creditworthiness is the degree to which international investors trust a country to pay off debt and honor the country's lending commitments. There is no information on the creditworthiness of the US Virgin Islands.

    Central bank
    In the US Virgin Islands, the institution that manages the state's currency, money supply, and interest rates is called the Federal Reserve Bank.

    National debt
    The US Virgin Islands government debt has not yet been calculated.

    Tax information
    Corporate income tax in the US Virgin Islands is 35%. Personal income tax ranges from 10% to 35% depending on your specific situation and income level. Sales tax in the US Virgin Islands is 0%.

    Finances
    The total Gross Domestic Product (GDP) valued at Purchasing Power Parity (PPP) in the US Virgin Islands is $1.577 billion. The U.S. Virgin Islands Gross Domestic Product (GDP) at Purchasing Power Parity (PPP) per capita was last recorded at $0 million. PPP in the US Virgin Islands is considered below average compared to other countries. Below-average PPPs indicate that citizens in this country find it difficult to buy local goods. Local goods can include food, shelter, clothing, healthcare, personal hygiene, essential furnishings, transportation and communications, laundry, and various types of insurance. Countries with below-average purchasing power parities are dangerous locations for investments. The total gross domestic product (GDP) in US Virgin Islands is 2 billion. Based on this statistic, the Virgin Islands (USA) is considered to be a small economy. Countries with small economies generally support fewer industries and investment opportunities. However, worthwhile investment opportunities can be found. The gross domestic product (GDP) per capita in the Virgin Islands (USA) was last measured at 0 million US dollars. The average citizen in the US Virgin Islands has very little net worth. Countries with very low wealth per capita often have lower life expectancies and a dramatically lower quality of life for their citizens. In countries with very low levels of prosperity, it can be very difficult to find a highly skilled workforce as it is difficult for citizens to obtain the education required for specialized industries. However, labor can be found at very low rates compared to countries with higher wealth per capita. The annual GDP growth rate in the US Virgin Islands averaged 2% in 2014. According to this percentage, the US Virgin Islands is currently experiencing modest growth.

  • Legal corporate servicesDatum10.05.2023 12:21
    Thema von GibsonJack im Forum Dies ist ein Forum in...

    Confidus Solutions not only deals with offshore companies and banks, but also offers all relevant business services that your company may need. Our professional team of lawyers and tax consultants takes care of your routine corporate documents in an uncomplicated manner. We can ensure all the support needed, including legal frameworks and personal assistance, and these things provide our customers with the comfort they truly deserve.

    Our corporate services include following offers, but are not limited to:

    AML solutions;
    Company dissolution;
    Insolvency and bankruptcy procedures;
    Drafting corporate documents;
    Acquisition of licenses and permissions;
    Nominee services;
    Asset protection and planning.
    We highly value needs of our clients, so we can offer you more services on case-to-case basis. Even though our central office is located in Europe – our numerous co-operation partners around the globe can help us find unique solution in any part of the world!

  • Thema von GibsonJack im Forum Dies ist ein Forum in...

    Preparing financial statements for an offshore company
    In case the government would not demand you to keep draft and submit bookkeeping and annual reports, would you still do that voluntarily and what would be the quality of your company’s bookkeeping? Nowadays, numerous tax haven jurisdictions have no requirements regarding the submission of annual or monthly tax returns and reports: offshore companies have an autonomous freedom of choice to keep the documents as they wish. However, more and more offshore jurisdictions have started modernizing and updating their legislation, gradually introducing a compulsory requirement to keep financial records and documents, as the beneficial owner of such company would be the one, who benefits the most out of that. This aspect can play a crucial role, especially when an offshore company is being owned and managed by several individuals, thus providing more efficient system of monitoring assets and supervising decisions that are made.

    For example, on Seychelles, companies are required to keep drafts, without providing bookkeeping records for state authorities that subsequently allows monitoring the economic status of the company, in order to provide owners with actual information at all times. However, there is no requirement to submit any financial documents publicly, as well as there are no requirements regarding statutory audit. In theory, local tax authority may request the company to provide and/or improve its records. Nevertheless, such situation may occur under circumstances provided by legal acts only and it usually can be foreseen and avoided.

    As we have just mentioned, tax havens (BVI, Panama, Seychelles, Nevis, Marshall Islands, Dominica, etc.,) do not require filing annual financial statements within the local authorities. However, nowadays many offshore companies choose to prepare annual financial statements for IBCs and tax haven companies voluntarily. The reasons for such actions are as follows.

    Legal provisions of many offshores require keeping proper records of bookkeeping by the company. Profit & loss statements, general ledger and balance sheet of the company must always be available upon request by the registered agent. All bookkeeping documents confirming transactions must as well be kept by the company: invoices, contracts, transportation documents, bank statements, etc. Such provisions exist in (BVI, Seychelles, Nevis, Belize and many other offshore jurisdictions. Please note that financial records of International Business Companies are allowed to be stored in any location of the world, not necessarily within the registered office.

    Your bank may ask for the financial statement of your offshore company. As banks toughen their requirements towards tax havens, one of the ways to keep your corporate banks account for such company is to present accounting statements upon request. Frequently, banks require the most basic accounting reports: profit & loss statement and balance sheet.

    Your own control over financial operations are the most obvious reason to maintain account records for any business.

  • Escrow accountDatum23.12.2022 10:36
    Thema von GibsonJack im Forum Dies ist ein Forum in...

    Pros & Cons escrow account
    Depending on the transaction area, it is assumed that both parties involved can benefit from escrow services. When discussing business transactions, both parties should exercise care in selecting an appropriate and trustworthy trustee. Since the funds are held by the third party, both parties involved must be able to rely on their assets as they will be released when the time comes.

    With real estate, the assumption is that the buyer or borrower is in a worse position than the seller or lender. As with regular deposits along with mortgage payments, the lender must lock up their money rather than invest it, earn a return, and pay taxes or insurance if necessary. In addition, it could be difficult for people with fluctuating incomes to guarantee equal payments every month.

    It's worth noting that while this option doesn't have the ability to invest their funds, this option is typically used by trustees who earn not only from service fees, but also from investing in short-term financial instruments.

  • Geography of TunisiaDatum02.11.2022 17:52
    Thema von GibsonJack im Forum Dies ist ein Forum in...

    Tunisia is considered a large nation due to its total area. Its total land area is 163,610 km² (about 63,170 mi²). The continental shelf of Tunisia is approximately 67,126 km² (approximately 25,917 mi²). Tunisia is in Africa. Africa is the second largest and second most populous continent on earth. African countries include South Africa, Kenya, Tanzania, Ethiopia and Egypt, among others. Tunisia has 2 neighboring countries. Its neighbors include Algeria, Libya. Tunisia is not a landlocked country. It means it is bounded by at least one major body of water. The average altitude range of Tunisia is 246 m (807 ft).

    Neighbors
    The total length of land borders of Tunisia is 1495 kilometers (~577 miles). Tunisia shares land borders with 2 different countries and has the same number of unique land borders with neighboring territories. If, as in the case of Tunisia, a country has the same number of distinct neighboring regions as the number of land borders, then that country has no non-contiguous sections of a land border. This is in contrast to several countries that have multiple non-contiguous stretches of land borders. Tunisia has 2 neighboring countries. Its neighbors include Algeria and Libya. The lengths of land borders of Tunisia with its neighboring countries are as follows:

    Algeria - 965 km (600 miles),
    Libya - 459 km (285 miles).


    Cities
    The capital of Tunisia is Tunis. The largest city in Tunisia is Tunis.

    Elevation
    The average altitude range of Tunisia is 246 m (807 ft). The highest point in Tunisia is Jebel ech Chambi with an official elevation of 1544 m (5,066 ft). The lowest point in Tunisia is Shatt al Gharsah. It is at -17 m (-56 ft), i.e. below sea level. The difference in altitude between the highest (Jebel ech Chambi) and the lowest (Shatt al Gharsah) point in Tunisia is 1561 m (2 ft).

    Area
    The total land area of ​​Tunisia is 163,610 km² (about 63,170 mi²). and the total Exclusive Economic Zone (EEZ) is 101,857 km² (~39,327 mi²). The continental shelf of Tunisia is approximately 67,126 km² (around 25,917 mi²). Including the landmass and the EEZ, the total area of ​​Tunisia is approximately 265,467 km² (~102,497 mi²). Tunisia is considered a large nation due to its total area.

    Forest and farmland
    20,615 km² of Tunisia's territory is covered with forests, and forest areas account for 13% of the total land area. There are 26,489 km² of arable land in Tunisia, which accounts for 16% of the country's total area.

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