Top five articles of June 2014

Another month has passed very quickly for me. In this months top five I will review and compare articles to the most popular ones of the last month. You can see the articles in the following list:

1. Isle of Man
2. Companies special licenses (CSL)
3. International business company

EU investigates tax evasion for Apple, Fiat and Starbucks

Europe Union has launched an investigation towards Apple, Fiat and Starbucks, regarding the large amount of tax they might have escaped due to tax forwarding true such offshore locations as Ireland for Apple, Netherlands for Starbucks and Luxemburg for Fiat.
Atho Apple paid only 2% tax on around 74 billion income made outside America, every thing seems to be legal due to Ireland having effective tax rate of less than 2%.

Changes in the prefered location of outsourced fabrics

The preferred location for business process outsourcing has been changing in the past years. Especially in the production fabrics field. While the the telecommunication outsourcing is big in asian countries, as India has been quickly developing in the past years and taking some part of the sector as more and more educated people can be found in India. The production facilities, altho still very large part of the Chinese economy, has started to move towards Europe.

Isle of Man

Isle of Man is a self-governing British Crown Dependency near the United Kingdom, located in the Irish sea.

Language

The official language is English, while Manx Gaelic has also had official status since 1985, altho its is rarely spoken and is considered armost extinct.

Economy

Collective investment scheme

Collective investment scheme's are the investment of money with a group to gain some kind of inherent advantage. These advantages may include the higher class professional investment managers, that may be able to make higher returns on the invested money, lower transaction costs, since the all of the group invests in one package, there is no need to pay separate costs on transactions for each individual, and the invested money may be more diverse, possibly reducing the risk factor.

Large companies using offshore for tax exemption

Most big companies are using offshore branches of companies to get tax reductions. Companies such as IBM and Microsoft have billions of dollars stored away in many offshore locations. Escaping millions of dollars being paid to the US tax system and they never are going to pay taxes in US for the income originating outside US as long as they don't want the money in US banks.

British overseas territories

British overseas territories are not a part of the United Kingdom, however they are under the jurisdiction and sovereignty of it.  The head of state is british monarch and most of them are self governed. There are a total of 14 territories falling under this title, but not all of them are used as offshore locations.

Most popular of the British offshore territories that are used for offshore financial activities:

Offshore financial center

Offshore financial center cover a broader range of offshore topics such as :

• Offshore fund
• Offshore trust
• Offshore company

There are many reasons for offshore financial centers, the usual reason for most centers is for some kind of gain or privacy. Most often these gains are money related.

Jersey

Bailiwick of Jersey is the largest of the Channel islands and another British offshore territory. A self governing parliamentary democracy, still under the constitutional monarchy of the United Kingdom. Financial, legal and judicial systems are all self sustained, providing economic and political stability.

Limited liability companies

This post is going to be about the various different types and names that is of limited liability companies (LLC). LLC's are companies that are owned by shareholders and are very similar to JSC, the difference from most JSC is that the shareholder's liability is limited to the amount of the investment in the company on the event of company liquidation. Often regarded as hybrid companies as they hold both charistics of corporations and partnerships.

Companies special licenses (CSL)

The Seychelles companies special licences are similar to companies incorporated under the international business licenses, but since the act took place later that IBC act, its more complicated and offers greater advantages for companies incorporated under it. CSL take advantage over double tax treaties that are not available to the IBC companies.

Shelf Companies

Shelf companies (ready-made companies, shelf corporations or aged corporation) are a form companies that are pre registered and are kept in a sleeping (non active) state for future use. In this case the main purpose for these kinds of companies are for sale. This is particularly attractive in places where the incorporation times for businesses are way longer than the change of company owners, allowing for a much faster way to

Mauritius

 Mauritius is an island nation in the Indian Ocean. Residing on the southeast coast of the African continent. The country is composed of the Mauritius islands, Rodrigues island, the archipelago Saint Brandon and the Agalega islands.

Economy

International business company

International business company (IBC) is a specific company type that is used for the sole purpose of offshore incorporation. The IBC are based on the International Business Companies Act, that took place in 1984. An IBC is formed under the laws of a specific jurisdiction and does not engage in any kind of business in the place of incorporation. The specific charistics of each individual jurisdiction may vary but as long as they all fall under the companies act they qualify as an IBC.

Business process outsourcing in China

Millions of college and university students graduate in China every year and it has become a way more desirable to get a job in the BPO sector rather than the manufacturing sector of China, which takes up a large part of their economy. May fields of studies have emerged regarding the IT and BPO sectors in China in the past years. More that 20 cities are already regarded as "China BPO cities", meaning that most of the business conducted within the city is for foreigner companies, citizens etc.

Most popular posts of May 2014

In the following list I have composed, you can see the most popular articles of the last month (may). I will make these post every month, to look back at the things I have done right and the things I have done wrong, in order to improve my writing abilities.

1.       Business in Latvia 2014
2.       Bahamas
3.       Offshoring

Dominica

Dominica is an island nation in the Caribbean Sea. Some claiming to be one of the most unspoiled and beautiful places in the world. The second largest hot spring in the world can be found there and its active volcanoes are still forming the island. Yet most of the island is covered by forests and it is one of the rainiest places on the world. As do with the unspoiled landscape the wild life of Dominica is also quite unique. Many rare species that can't be found anywhere else in the world live there.

Brunei

Brunei or officially know the Nation of Brunei, the Abode of Peace is located on the north coast of island Borneo. A sovereign state that gained independence in 1971 from the UK. Most of its economy is built on the export of crude oil and natural gas in the Liquefied form. They also are a large exporter of honey and honey related products, fishes and fish products, fruits and rice.The official language of Brunei is Malay, although English and Chinese are also used. The official currency is Brunei dollar.

Facts about companies in Brunei and their incorporation

The registration fee for incorporation in Brunei is 500$, for any size of a IBC share capital.

Saint Vincent

The full name of the island country is Saint Vincent and the Grenadines. It is located on the border of the Caribbean sea, where the it meats the Atlantic ocean. As with all the Caribbean sea islands, Saint Vincent has an great weather, with the exception of some tropical storms, that damage economy wiping out a part of the yearly plantations.

Economy

Most of the Saint Vincent's economy comes from the export of goods, mostly bananas. Recently the service sector has taken over a big part of the economy, mostly focusing on tourism.