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Incorporating Offshore


wealthymattersAn 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 is  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

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Lalbaugcha Raja Auction


wealthymatters

I spent last evening at the Lalbaugcha Raja auction.It was my first time.

I am pretty pleased with my “prasad”-a lovely silver modak that just comfortably overflows my cupped hands.It’s a great item to put on my desk and watch the play of light on.Anytime,I want a physical reminder of the abundance of good things God has given me in life,I have but to pick up this modak.

One of the items for auction ,that caught my attention was a gold foot ball .All the items up for auction have  been donated by devotees whose wishes have been granted.So when we see a model house or cradle we can guess what wish was granted.Now a football?Makes you wonder what the wish was for…..Also last year I remember seeing such a foot ball in the papers too.So I got googling after dinner and came across a shocking story in an old copy of the Mid-Day:Link Read more of this post

How Companies Dress-up Their Accounts


The Money Masters


I had trouble sleeping last night and so watched ‘The Money Masters’ on the internet.I found this documentary pretty biased.But that’s not to say that the narrator didn’t make some good points.

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