Anatomy Of Offshore Holding Structures
September 28, 2014 Leave a comment
Incorporating Offshore
September 28, 2014 Leave a comment
An offshore company is a corporation or other type of legal entity which is incorporated or registered in an offshore financial centre or “tax haven”‘.
The extent to which a jurisdiction is regarded as offshore isĀ a question of perception and degree.Classic tax haven countries such as Bermuda, British Virgin Islands and the Cayman Islands are quintessentially offshore jurisdictions, and companies incorporated in those jurisdictions are invariably labelled as offshore companies. Then there are certain small intermediate countries such as Hong Kong and Singapore ,sometimes referred to as “mid-shore” jurisdictions, which, while having oversized financial centres, are not zero tax regimes. Finally, there are industrialised economies which can be used as part of tax mitigation structures, including countries like Ireland, the Netherlands and even the United Kingdom, particularly for corporate inversion.Also, in federal systems, states which operate like a classic offshore centre can result in corporations formed there being labelled as offshore, even if they form part of the largest economy in the world ,for example, Delaware in the United States.
Similarly, the term “company” is used loosely, and at its widest can be taken to refer to any type of artificial entity, including not just corporations and companies, but potentially also LLCs, LPs, LLPs, and sometimes partnerships or even offshore trusts. Read more of this post
Trust Issues
September 25, 2014 1 Comment
Here’s a story from the past:Back in 1936, Shapoorji Pallonji Mistry (grandfather of Cyrus Mistry) acquired around 12.5% of Tata Sons after the death of FE Dinshaw, from his estate. Dinshaw had been a frequent financier for the Tatas and had converted debt to equity to get his shares in Tata Sons. He wanted his shares to go into a trust after his death, but somehow Shapoorji Mistry prevailed upon his managers.And then in a master-stroke Shapoorji acquired another 6% from JRD Tata’s brother Darab, who sold, it is said, to spite his elder sibling, who was hogging the limelight at the Tatas. But Shapoorji’s adventure had to stop there, as the sons of JN Tata Ratanji and Dorabji had already arranged their own holdings, adding up to 80%, into charitable trusts before their deaths. ( JRD and Darab were descendents of Dadabhoy Tata, a partner and cousin of JN Tata’s father Nusserwanji Tata.)
The Tata Trusts are probably the most well known in India.Using trusts, either charitable ones like these or private ones with private beneficiaries, was popular in India till the ’80s to bequeath assets to progeny. Between the 80s and the ’90s, private trusts went through a period of highest taxation and lost their popularity. Today, they seem to be the flavour of the season again. Along with popularity have come services that set up trusts and help manage them. Apart from the tax pressure on trusts being eased in early 2000, some high-profile inheritance drama helped. Read more of this post
How To Use An Auto Title Loan To Improve Your Credit
September 25, 2014 Leave a comment
You might be in a situation where you need cash and you need it quick.Ā However it is difficult to get the loan that you need because you have bad credit.Ā This is where an auto title loan can help in a couple of different ways.Ā Read on to find out just howĀ an auto title loanĀ can help you and get you the money that you need quickly.
Get The Money You Need Quick
If you own your car and hold the title in your hands you could be holding the key to the money that you need.Ā This is especially good when you have bad credit and an emergency happens where you need money.Ā This could be for things such as car repairs, medical bills, a home improvement that cannot wait orĀ a grubstake to get started in business.Ā Most of the time you will receive your money the same day and a credit check will not be necessary.
Auto Title Loans To Improve Your Credit Read more of this post
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