The state of Delaware is fast becoming renowned as a business haven for corporations looking for a business-friendly environment. With its low tax incentives and increased confidentiality, these factors can provide an attractive advantage to you and your business.
Delaware is an easy and reliable state in which to incorporate or form an LLC; the annual cost is low and the owners of LLCs as individuals are given the strongest legal protection available by any state. This is demonstrated by a US Chamber of Commerce study of state liability systems that has rated Delaware number one in eight studies conducted throughout all 50 US states.
A few examples of Delaware’s benefits include:
- Low cost incorporation fees.
- Delaware law has been tested and provides predictability.
- Delaware regularly updates its laws to remain the leading state for incorporation.
- Delaware allows the owners and managers of an LLC to remain anonymous.
- Delaware has no sales tax or intangible personal property tax.
- No Delaware income tax has to be paid and a business license is not required if the Corporation does not do business in Delaware.
- A Delaware offshore company is a useful tool for those seeking to protect their assets from creditors, liabilities and excessive taxation.
- Those who form and own a partnership in Delaware are known as ‘members’ rather than ‘partners’ and the LLC itself is a distinct legal entity, separate from those who establish it. This means that LLC members are able to limit their risk and liability to their initial investment made into the corporation which means that the Delaware offshore incorporation of an LLC allows for far reaching personal asset protection.
- A Delaware offshore company is not required to report its assets which implements an additional layer of confidentiality protection; making it a less likely target for speculative creditors.
Crypto-currency Start-ups Buying False Reviews is Destablising Reputable Investment Sources
When cryptocurrency issuers want reviews for their coins, reports have surfaced that several prominent companies have been found offering money to advertisers in exchange for positive appraisals.
Is the Era of Shell Companies Coming to an End?
The Honourable Dr. Orlando Smith, Premier and Minister of Finance has announced that the BVI Government will take all reasonable steps to address European Union concerns about economic substance and a new Legislation is intended to be in force by the end of December 2018 in order to avoid the European Union Black List of Tax Heaven Jurisdictions.
Regulatory Update: BVI Economic Substance Act 2018
In 2016, the Council of the EU pledged to start advocating tax transparency and fairer taxation within Europe and consequently worldwide. After the EUs Code of Conduct Group (COCG) on taxation investigated BVI practices, they found a number of concerns regarding legitimate substance requirements for companies and limited partnerships doing business in and through BVI.
Information on the Payment of Cyprus Taxes for Pensions & Rental Income
Cyprus employees who are considered to have tax resident status, pay tax on their global income. Employees not considered to be tax resident are only charged for specific types of income that are originating from Cyprus-based sources.
Cyprus Regulatory Update: Shell Company Definition & Exceptions
The Central Bank of Cyprus has released new guidance for all credit institutions on the island, refining the definition for shell companies and subsidiary entities; coming into effect from November 2018, which are detailed as follows:
Singapore Variable Capital Company VCC: New Features & Benefits
The introduction of the VCC is a significant positive for the Singapore funds industry. Its aim is to retain Singapore as an attractive business destination and to keep investors wishing to domicile locally.
Consolidated Accounts for Hong Kong Companies: Subsidiary Requirements
As per Hong Kong company’s ordinance subdivision 3 section 379 subsection 1, a Company Director will have to prepare year-end financial accounts that comply with sections 380 and 383.
Challenges of Our Time: Cryptocurrencies & Their Regulation
The very concept of cryptocurrencies derives from technologies and the creation of alternatives to existing payment systems, which for the most part is caused by the negative consequences of financial crises and the injustice within the sphere of financial and legal regulation. Many people are convinced that the cryptocurrency is likely to become an alternative to the established global financial system and open new opportunities to those segments of the population and citizens of those countries that are deprived of the opportunity to work with the banking financial system.