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seychellesfoundations · 8 days ago

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Offshore Foundation Setup: A Step-by-Step Guide

An offshore foundation might be a fantastic legal tool to help you save money on taxes and safeguard your assets. Additionally, it's incredibly practical for wealth preservation, asset protection, and estate planning. Here we will discuss the overall construction, different types of offshore structures, and even a glimpse into offshore wind turbine foundations.

What is an offshore foundation?

A legal entity established in a jurisdiction other than the owner's native country is known as an offshore foundation. An offshore foundation is organised as a legal person with assets and a specific purpose, such as asset protection, estate planning, or philanthropy, in contrast to typical businesses. Instead of having owners or shareholders, offshore foundations are founded by a founder who may designate a council to oversee the organisation.

An offshore foundation is the legal setting whereby one can hold assets. Such an arrangement makes high-net-worth people, companies, and family estates enjoy anonymity and financial stability.

What Are the Foundations of Offshore Structures?

While discussing offshore foundation setup, one needs to be aware of the basic structures employed in offshore settings. These are vital in many industries, especially in business asset protection for renewable energy end applications.

Some of the common types of Offshore Wind Turbine foundations are:

Monopile Foundations: This type of turbine employs a monopole anchored to the seabed or the bottom surface using a large steel barrel or tube. Since it is a single structure, the installation and maintenance processes are simplified as compared to the use of other complex building mechanisms. This system is more cost-effective and less time-consuming, which makes it a preferable solution for the construction of wind turbines in areas where the seabed depth does not exceed 50 meters.

Gravity Foundations: Such foundations need to be provided with heavy concrete blocks in order to remain stationed at the bottom of the ocean. The reason for gravity foundations becoming popular at a body of water is that they are simple to construct as well as cheap to build.

Tripod Foundations: The improvement in the depth of sea works at around 20 to 50 sea meters is sufficient to support tripod bases that are suitable for a second building in places where stability has to be taken into account as a prime factor.

Jacket Foundations: These types of foundations are composed of steel frameworks that are embedded in rows into the seabed. They are most appropriate for bodies of water that have pronounced turbulent winds, as they provide stability for the wind turbines while having a long space in terms of height for expansive use.

Floating Foundations: Floating foundations with flexible designs are adopted at a water depth exceeding 50 meters. Since it is not attached to the seabed, its use is moored using mooring lines and thus found apt for deep offshore wind projects.

Suction Bucket Foundations: Suction buckets are basically an upside-down, hollow bucket sunk into the seabed by suction. They are said to be relatively simple to install and deinstall, which makes them extremely environmentally friendly for specific installations offshore.

What are the Three Types of Foundations for Offshore Wind Farms?

With the increased popularity of offshore wind energy, much attention has been given to sustainable energy development in terms of offshore wind farms. For the efficiency and safe operations of offshore wind turbines, a stable foundation must be provided. There are three main types of offshore wind farm foundations, tailored for different depths and types of seabed.

Monopile Foundations: Monopile foundations are the most widely used in offshore wind farms. It is a very simple type of foundation in which a single, large steel pole is driven into the seabed. This foundation is very effective in shallow waters and can support smaller turbines. Offshore wind farms make use of monopile foundations because they are simple and cost-effective for depths up to 30 meters.

Jacket Foundations: Jacket foundations are made from the lattice of steel tubes.This gives a jacket-like appearance suitable for deep waters usually reaching up to 50 metres. Jacket foundations are anchored down into the seabed multiple times and support wind turbines in very harsh conditions.

Floating Foundations: Floating foundations are used in very deep waters. These are anchored to the seabed with chains or cables rather than being fixed into the ground. They are strong enough to withstand powerful waves and strong winds, thus making them an excellent choice for offshore wind farms located in deep-sea areas. Floating foundations are newer and more complex, but they enable offshore wind farms to expand into previously inaccessible areas.

Selecting the appropriate foundation is crucial when establishing an offshore wind farm. Depending on the seabed's condition, water depth, and financial considerations, each of these varieties has special benefits.

How Are Offshore Wind Turbine Foundations Installed?

Offshore wind turbine foundation installation is a very complex process. This involves specific equipment and engineering with logistics. Installation for offshore foundations of wind turbines typically has more than one stage, which includes site selection, preparation of the seabed, and foundation installation.

Step-by-Step Offshore Foundation Setup Process for Wind Turbines:

Site Selection and Seabed Analysis: This includes the process of site selection, in which the engineers determine the depth of the water, the conditions of the waves, and the geology of the seabed. This allows for the determination of the foundation type to be selected depending on the conditions.

Seabed Preparation: The seabed has to be prepared and levelled if a gravity-based structure is proposed. However, the monopiles and jacket foundations need less preparation; however, their stability at the seabed must be checked.

Foundation Installation: The method of installation for such is dependent on the kind of foundation. Monopoles are mounted by means of deepwater piling machinery that bore deep in the seafloor. Jacket foundations are first typically fabricated on the coast, then brought to the site for drilling into the seabed. The floating foundation is held through cables and mooring lines.

Installation of wind turbine: When the turbines are bolted onto the base, the wind turbine is installed. A wide array of heavy duty cranes and other such machines are required for this job to lift and put every single piece of the turbine into place.

Connection to Power Grid: The turbine also has to be connected to the offshore power grid when it has been installed. This ensures that the electricity produced from the wind farm is dispatched to the stations located on the land and can then be supplied for use.

Each one of these offshore foundation construction stages is quite complex and should be executed with a lot of precision, accuracy and planning as the offshore environment is harsh.

Conclusion:

From renewable energy applications in offshore wind farms to asset protection and estate planning, offshore foundation design provides a number of benefits.

Offshore foundation set up offer a strong basis for expansion, security, and success, regardless of your goals—whether they be asset protection or the investigation of cutting-edge renewable energy options. Moreover, offshore foundation setup can provide long-term security and financial resilience while opening doors to new prospects with the correct foundation type and setup procedure.

Where Can You Find the Best Offshore Foundation Setup?

The most recommended offshore foundation setup exists in the jurisdictions of Belize, Nevis, Panama, The Cook Islands and Seychelles.

When Is the Best Time to Set Up an Offshore Foundation?

In order to facilitate strategic planning and asset preservation, it is best to establish an offshore foundation prior to major financial transactions or wealth building.

Who Can Benefit from Offshore Foundation Setup?

Offshore foundations are extremely rewarding for high-net-worth individuals, business owners, and investors that are looking to address asset protection issues, tax optimisation, and estate planning goals.

What Are the Benefits of Setting Up an Offshore Foundation?

Asset protection, tax advantages, confidentiality, and flexible control over assets make offshore foundations suitable for wealth management and legacy planning.

What Are the Steps Involved in Setting Up an Offshore Foundation?

Offshore foundation establishment generally involves selection of jurisdiction, choice of registered agent, draughting of a foundation charter, and filing of registration documents.

Source:- https://www.seychellesfoundations.com/offshore-foundation-setup-a-step-by-step-guide/

#Offshore Foundation Registration Fast #Offshore Foundation Formation Simple #Offshore Foundation Formation Privacy #Offshore Foundation Asset Protection #Offshore Foundation Simple Administration #Offshore Foundation Formation Cheap #Offshore Foundation Incorporation Fast #Offshore Foundation Setup #Offshore Foundation Set up #Overseas Foundation Asset Protection

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citynewsglobe · 6 months ago

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offshorecompany2 · 2 years ago

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Overseas Companies, Offshore Assistance

offshore company

We currently have a home in a fully globalized earth, in which each internet business or organization aiming to do their best seek to provide the best and the most optimized level of product to its shoppers. The financial marketplace is expanding a branches not only to somewhat of a particular country, they will now cover around the globe, for the services, overseas services are gaining interest day by day. There are many jurisdictions that are very popular and they are being used for ocean going services where families can take their organizations out of their lands and also to gain edge.

offshore company

The offshore organisations are not only come to be beneficial from the viewpoint of business or even also attract a person's eye of investors seeking to acquire personal convenience and financial privateness. There are a variety of just offshore services that are already offer such as: Ocean going Companies, LLC, Fundamentals, Trusts, Bank Provides, Gambling Licenses, Communal Funds, just to speak about a few.

Offshore agencies are characterized which might be registered in a nation where that make virtually no economic or store-bought activity. For this reason, also called as nonresident companies. They have perhaps many tax benefits, as some only need to pay a small yearly registration fee and have absolutely up to 100% associated with tax payment excision. These companies do not fork out taxes because fees are applied to normal persons. Because most people live in a world that is definitely favored by the engineering advances the cosmetic of offshore corps are given a quick, uncomplicated and cheap. Various jurisdictions require a minimum of documentation. Some other benefit is there exists limitations as to the nationality of shareholders or even directors. It is often normal to see a company becoming formed by a one person performs many of the functions. These companies employ a simple and affordable administration that simply by not having to carry out pursuits of tax clearance do not have to incur fees of auditors, involving other things.

LLC (Limited Liability Company) sort of limited partnership, which can be fiscally transparent, which means that its members must state the benefits so that you can society in their man or woman income tax returns.

Just offshore foundations is an bank born from the monetary gift of an estate associated with a person or thing, called the owner, for a private curiosity purposes, set out around its charter or simply founding charter. can be described as very flexible program to be used for applications of the estate, for the legislation makes transparent that not identify any right to heirs, that they may have with laws of various countries.

An overseas trust is a bed that is outside the usa of habitual dwelling of the person who provides it (called your settlor) and the beneficiaries in a tax engine. Its characteristics can be essentially the same as people of an Anglo-Saxon and common trust, nonetheless to be formed using more favorable laws provides greater suitable protection and a improved level of privacy. It will always be used by people who have investments (tangible or intangible) to protect the employment opportunities or in some of those at risk of lawsuits.

Overseas banking is a company offered to a type of mortgage lenders, usually located in levy havens, which are managed by special laws and regulations that grant these individuals more freedom for their operations, and advantageous tax treatment. Those institutions aimed at a hundred percent to take deposits together with investments of individuals and additionally businesses not locals and who have certainly no access the place's own citizens.

Your Offshore companies usually are used for International buying and selling, Asset protection, Attentive Insurance, Tax prevention, protection because of the discretion that those jurisdictions offer.

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rjzimmerman · 3 years ago

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Excerpt from this story from Treehugger:

In late May, the Biden administration announced a plan to dramatically expand offshore wind energy installations along the Pacific, Atlantic, and Gulf coasts, with the ultimate goal of adding 30,000 megawatts of clean energy (enough to power 10 million homes) by 2030. It’s an ambitious, multi-billion-dollar initiative in the fight against climate change, but is it realistic to expect the installation of an estimated 2,000 offshore wind turbines in less than a decade?

Those standing on the side of answering yes to this question understand that innovation is the key to pulling off an infrastructure project of this magnitude. Unlike the open plains and rounded hills that traditionally host wind turbines, analyzing the seafloor geology and topography for proper placement isn’t a simple exercise. To put it in perspective, with only 20% of the ocean seafloor mapped, we basically know more about the surface of Mars than we do Earth’s hidden depths.

Startup Bedrock is aiming to help shine a light on this murky problem by probing the seas with its new fleet of electric autonomous underwater vehicles (AUV). Each small submarine is equipped with an array of sensors for mapping the ocean floor and is fully capable of venturing up to 56 miles (90 kilometers) from shore and operating in depths up to 1,000 feet. As fixed foundation offshore wind turbines can presently only be installed at maximum depths of 160 feet (50 meters), this makes Bedrock the perfect partner for discovering ideal underwater sites.

#offshore wind power #oceans #sea floor mapping

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lawannamcelhone · 4 years ago

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Know The Magical Results Of CBD Hemp

You can view our lab outcomes, search your particular person check batch, and see Mt. Folly’s organic hemp certification on our Hemp Certifications page. See our USDA Natural Certification. While PayPal’s Acceptable Use Policy nonetheless appears to prohibit promoting CBD products, Square (see our evaluation) instituted a trial program in 2019 to simply accept CBD merchants. The bill additionally made it illegal for any agency to use federal funds to interfere with the sale of hemp products. Nevertheless, regular prospects can avail of free shipping for orders price, $seventy five or more, after they apply the GT15 coupon code, or their sale value is utilized. But in actuality, there are few laws regulating its use and sale. This transparency permits you to make a moderately correct estimate of what it's going to price you on a month-to-month foundation to make use of their services. Irrespective of which merchandise customers determine to purchase, the discount coupon is utilized to all merchandise included in the cart at one time. Companies can find themselves labeled as excessive-danger for any number of reasons, but for CBD products, the main three causes are (1) unsubstantiated claims concerning the efficacy of the products, (2) high chargeback charges, and (3) legal issues affecting distribution of the product.

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1 What's all about Sera Relief CBD Oil

Temperature and Humidity Mark E 11/25/16

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So, we can’t say for positive how much or what the standard or focus of CBD is actually in the Pro Naturals CBD Blend. Since full spectrum CBD oil incorporates such a low focus of THC, the danger of intoxication isn’t current. CBD and other cannabinoids extracted from marijuana plants may have a really excessive focus of THC. Now, you’re probably already conscious that marijuana derives from Cannabis plants. Finally, if you’re a CBD oil service provider and have had any expertise working with the businesses listed in this text - or different providers - ensure to tell us about your expertise in the Feedback part under. Perhaps you’ve heard of this new class of products, and you’re interested by what they're and what advantages they'll offer you. Btu we are able to tell you about CBD products. No one actually know’s what makes for a excessive-high quality CBD hemp oil. It’s Energizing As Effectively.

It’s because of this that lots of the merchant account suppliers we profile below who're still working with the CBD industry are only prepared to take on merchants who restrict themselves to selling CBD products that are applied externally (e.g., oils, salves, and so on.). In all probability the primary cause is that the regulatory framework simply isn’t in place but to correctly handle these varieties of businesses without taking on unacceptable threat. Needless to say, the rapidly rising popularity of CBD has led to an enormous improve in the variety of CBD products that are actually out there. Your terminal ought to be able to accept both magstripe and EMV payments at a minimum. Additionally, it offers a free virtual terminal with each account. CBDistillery supplies detailed info on the CBD content material and different ingredients on their product labels, besides together with a QR code linked to their third-occasion lab take a look at results for every batch of product. You possibly can bookmark this web page as we keep updating the brand new and distinctive codes we get from CBDistillery. First-time CBD users ought to attempt a small amount of them, to start with, after which they'll increase the dose. The time CBD remains in your physique depends upon a number of elements, including metabolism, frequency of CBD use, CBD dosage, and methodology of administration (sublingual vs. But you've an Endocannabinoid System (ECS), so your body is actually primed to interact with cannabinoids like CBD!

Someone who wants to detect CBD in your system would must order a particular test for that function. Full spectrum CBD products taken at commonly beneficial dosages don't have any sensible likelihood of creating you "high," as you may expertise with marijuana. Superior Hemp Oil’s Tincture Droppers are Certified Third Party Lab Examined and the simplest method to devour your daily dose of CBD Hemp Extract, together with fatty acids to assist your thoughts and physique, promoting optimum health. Each and every considered one of our products at Superior Hemp Oil, LLC is made from USA-grown hemp - simple, pure and efficient. Some have larger concentrations and some have been extracted utilizing superior know-how to make sure potency. CBD oil is extracted from the flowers and leaves of industrial hemp. Can I Buy CBD Oil on Amazon? For a extra detailed look at SMB World, make sure to check out our full evaluation. SMB Global requires a minimum processing volume of $50,000 per month for an offshore merchant account, which can current a formidable barrier to a newly established CBD business.

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itoffshore · 2 years ago

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Best Offshore IT Staffing Agency Services At Extremely Cost-Friendly Prices

Are you looking for a group of Offshore IT agencies developers for your next big project? Finding a rethinking organization with the imperative degree of information and experience is nowhere near simple. In any case, our history will without a doubt be however you would prefer, as we bring an entire range of cutting edge Offshore IT Staffing Company In India under one rooftop, and proposition our expert help with the most reasonable way.

For quite a long time, we have been at the front line of the mechanical headways being made in the IT area through fastidious preparation and undertaking development. Our cycles are constantly sent with the assistance of super current programming improvement, pointing to enhancing the cloud foundation of our client's organization. As an accomplished Best Offshore IT Staffing Agency, we can additionally raise your network safety structure by loading your foundation with the most productive and demonstrated security patches.

Our practical IT arranging will use the force of AI innovation, consolidating all the in-pattern computerization processes that your greatest rivals are utilizing to lean the crowd's discernment toward your organization. We are constantly dedicated to helping our worldwide stages to accomplish their business objectives in the most reasonable and opportune way, and assuming that you have any kind of web-based presence, we have the necessary experience to expand it utilizing our web improvement, plan, UX, and processes.

Best Offshore IT Staffing Company in India are open to any business undertaking of a person who either needs to send off a shiny new pursuit or is shifting focus over to increase their prior stage. Hire our remote team of IT professionals and take your business administration capabilities to the next level.

#OffshoreITStaffingCompanyInIndia #BestOffshoreITStaffingAgency #BestOffshoreITStaffingCompanyinIndia #OffshoreStaffingCompanyinIndia #OffshoreStaffingAgency

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healthcare209 · 3 years ago

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Expo-Dubai 2021:World’s Biggest Event

Elite foundation, astounding engineering, enormous industrialization, first rate extravagance benefits and being named as a famous objective for relaxation - this is Dubai, appropriately called the 'city of gold'. Dubai is known to be the business center of United Arab Emirates. It isn't just a significant fascination for humble business visionaries from around the world wandering into organization development in Dubai expo 2021, yet in addition a settling place for driving organizations needing to grow their activity in the Middle East and African locales.

The Dubai government has investigated every possibility to draw in unfamiliar financial backers around here of riches and fortune, which makes the income arrangement of Dubai's economy broadened dissimilar to its partners inside the United Arab Emirates. In the current situation, the oil reliance of Dubai contributes not over 5% of its whole economy.

A large part of the abundance is made by its dynamic economy frameworks that the city follows with an intend to make Dubai the pioneering capital of the world. The cherry on the top is the impending Expo 2020 that likewise plans to overstate the economy further.

With an expect to grow out of new business possibilities for likely trailblazers and finance managers UAE's Vice President and Ruler has set up an asset to back development worth AED 2 Billion. Consequently in the event that you have a maturing business faculty inside you, this is the perfect opportunity to investigate the UAE market.

Aside from all the consolation and openings, setting up an organization in Dubai can be dreary. With a few avoidances in locale, business types, documentation, legislative endorsements and that's only the tip of the iceberg. Particularly as far as an unfamiliar financial backer, understanding the suggested laws and limitations, blockades of language and social compels just as other fundamental necessities involve consideration.

By the by, the Department of Economic Development (DED) in Dubai has made a few endeavors to make business arrangement in Dubai a simple cycle. Strong towards dispatching business people and extending their activities successfully, the DED additionally has online entrances for the systems.

The arrangement of methodology expressed by the Department of Economic Development (DED) for organization development in Dubai: Type of Business - this might shift from being a Limited Liability organization, Free Zone or Offshore; Proprietorship/Partnership - relying upon the sort of business organization or 100% possession not really settled; Legal Form - ordering your proprietorship under legalities and drafting a business structure dependent on purview; Trade Name and Trade License - a name for all your business exercises which is then authorized; Permissions and Approval - number of documentation and endorsement are needed from different legislative bodies and social establishments; Drafting a MOA/LSA - a Memorandum of Association (MOA) or Local Service Agent (LSA) understanding is drafted between the investors or the accomplices of the organization; Premises of Proceedings - gaining a leased premises for directing business; Licensing Approval - Federal or the Local divisions of the particular ward give permitting endorsements.

The methodology might fluctuate from one organization to another contingent upon the prerequisites of the business action. Under such conditions selecting a business arrangement specialist co-op can be a productive choice, that won't just arrangement with the administrative works yet in addition guide you towards smooth-progression of your business.

#dubai expo 2021 #expo dubai 2021 #expo 2021 dubai

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1stnewslink · 3 years ago

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How the Didi Crackdown Threatens China’s Stock Markets: New Economy Saturday

China’s crackdown on ride-hailing giant Didi just days after its listing in New York has shaken global confidence in the Chinese tech sector and raised questions about the future of foreign investment in the country’s startups.

Now that China has become wealthy and is investing huge sums of venture capital, it is often forgotten that foreign investors, particularly in the US, largely funded and incubated the first wave of Chinese tech companies. One of the most successful of these angels is Gary Rieschel, the founding CEO of Qiming Venture Partners, which has invested foundation funds from colleges in a number of Chinese unicorns, including Xiaomi, Meituan Dianping and WeDoctor Group.

Rieschel is a delegate of the Bloomberg New Economy Forum, and I met with him this week to find out about the whole Didi fiasco and the collateral damage it caused to China’s stock markets.

Didi Global headquarters in Beijing.

Photographer: Yan Cong / Bloomberg

This week in the new economy

Andrew Browne: Gary, what’s really going on here? The China Cyberspace Administration appears to have weakened the China Security Regulatory Commission [CSRC] when it comes to monitoring offshore listings.

Gary Rieschel: Well, that’s another example of political power struggles in Beijing. The cyberspace administration that now supposedly oversees tech companies and whether or not they can list – they don’t have the same market sensitivity. If you look back on the past 12 months, there have been efforts to actually have some of the companies in China doing the [Shanghai Stock Exchange] restructured to be listed in Hong Kong or overseas as the CSRC generally does not believe that the Chinese market could absorb the number of companies going public. Suddenly the cyberspace administration dismissed that and said, “Well, we don’t really care. We’re going to force everything to be listed in Hong Kong and China. ”If you look at the history of Chinese stock markets, it is not one of increasing maturity, increasing sophistication. It has had whip saws back and forth for the past two decades. And they run the risk of losing even more confidence in this exchange, and I think that’s catastrophic for China.

Gary Rieschel

Photographer: Wei Leng Tay / Bloomberg

Browne: The cyberspace administration began as a regulator to clean up the internet – it had an openly political mandate. Now it has taken on a capital market function. Is there a conflict here?

Rieschel: I would expect that over time they will realize that the people who are responsible for the listing process in China at CSRC actually have an idea of what they are doing. And there has to be some consistency over a long period of time. And when these political, bureaucratic interventions actually happen every few years, it will only remove one of the few ways in China of creating a trustworthy asset, a stock exchange that individual investors can trust. That is why there is so much money in the real estate market. You own a piece of land – it’s something you trust. At the moment you have very little confidence in the stock markets in China. This won’t help at all.

Browne: What do Chinese tech entrepreneurs think of all of this? Will it scare off startups?

Rieschel: It is becoming more difficult to attract people to startups. I’m not sure if the number of startups will decrease. I think it may become more selective and difficult to recruit full teams from large established companies for these companies, as both liquidity and risk appear a little larger than you might have expected. I don’t know whether they will go so far as to really scare the engine of innovation that they have created in China in the last 20 years in technology. It could go that way.

The Hong Kong Stock Exchange

Photographer: Serge Attal / Sygma via Getty Images

Browne: Wall Street asset managers are now pushing into China. What lessons should you learn from this episode?

Rieschel: Well, I think you won’t have any transparency. When we founded venture capital firms in China 20 years ago, investors asked us, “What is the risk premium in China?” Well, it turned out that in the end, China offered a real return that exceeded virtually anything everyone had seen before except the very best companies in the US. When I’m a public investor in China and watch this type of intervention, it varies a lot. This is not about the return on investment risk. This is about regulatory risk and liquidity risk. It’s not about, “Can China innovate and create companies that can make great widgets and great products and services?” We answered that question. [As for] the question, “Can China’s bureaucrats keep their fingers out of the market cake so that foreign or even domestic investors have enough transparency to actually conduct their business?” – we don’t know yet.

Browne: Do you think the best days – the high growth days – of Chinese technology are now behind us?

Rieschel: No, I don’t and the mindset is very simple. China’s domestic market is huge and is still growing quite rapidly, especially in the tech space. If you list the top 20 enterprise software companies in the world, none of them are Chinese. I would tell you that as time goes on, there will be enterprise software companies in China that will be in the top five or ten, just as there were in e-commerce, social media, etc. No question about it, there will be a handful of semiconductor equipment companies as strong or as powerful as they are in China [Applied Materials Inc.] and [ASML Holding]. That will happen in time. So if you fancy the ability to take the risk necessary to hold this up for the next 5 to 10 years, I think the return profiles of Chinese investments will still be very attractive.

The fourth annual Bloomberg New Economy Forum will bring the world’s most influential politicians together in Singapore November 16-19 to mobilize behind efforts to build a sustainable and inclusive world economy. Find out more here.

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Bloomberg has started a new section called Odd Lots, an extension of our popular markets podcast with editors-in-chief Joe Weisenthal and Tracy Alloway. Become a Bloomberg.com subscriber for access to exclusive odd lots on the latest market trends, the weekly newsletter and more.

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Before it’s here, it’s at the Bloomberg Terminal. Learn more about how the terminal delivers information and analysis that finance professionals cannot find anywhere else. Learn more.

The post How the Didi Crackdown Threatens China’s Stock Markets: New Economy Saturday first appeared on 1st News Link.

source https://1stnewslink.com/how-the-didi-crackdown-threatens-chinas-stock-markets-new-economy-saturday/

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seychellesfoundations · 9 days ago

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🌍 Looking to protect your assets and secure your future? Offshore Foundation Set up in Seychelles is the perfect solution for you! 🌟

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chauhanparkash2016 · 4 years ago

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Offshore Banking - Fiction Vs Fact

FICTION: Offshore banking can't be that acceptable in light of the fact that they can't actually pay the high financing costs they offer. On the off chance that they could truly pay those rates, U.S. banks would attempt to be serious and have a similar loan fees.

Reality: Examine intently the budget reports of any U.S. Bank. You will see that their "gross" benefits against client stores can go from 25% to 40% - however - they have laws written in stone to restrict the premium sum they can pay clients on their stores. The U.S. banks place their income into pointless ruffles and non-beneficial consumptions like extravagant structures and so forth, while seaward financial offices don't do this and offer their benefits with their clients.

FICTION: Offshore banking isn't managed, so you are in danger of losing all cash stored with them.

Reality: truly every country in the free world has guidelines, rules and laws administering monetary organizations and banks. Those guidelines, rules, and laws, be that as it may, are significantly less prohibitive than the "protectionist" U.S. banking guidelines, rules, and laws and permit the seaward financial industry better freedom to procure a lot more noteworthy benefits for their financial backers and investors.

FICTION: Offshore financial offices are not safeguarded by the F.D.I.C.

Actuality: Some of the banks are nevertheless not so many. On the off chance that they will be, they should agree with a similar protectionist banking guidelines and rules as the wide range of various F.D.I.C. protected banks. Be that as it may, most of seaward financial offices are safeguarded; somehow.

Investor protection programs like the F.D.I.C. program have been set up in certain nations, so the banks in those nations have their stores safeguarded. Autonomous insurance agencies safeguard the stores of seaward financial offices in different nations AND dissimilar to the F.D.I.C., protect 100% of the banks stores; not only those under $100,000. (Incidentally, a portion of the banks in the U.S. protect their stores with autonomous insurance agencies and numerous banks in the U.S. are not F.D.I.C. protected)

Seaward banking is "self-protected" generally which implies those banks have a liquidity factor equivalent to 100% (or a greater amount of) the stores on the books. Those banks have $1 (or more) in fluid resources for each $1 hung on store. In this manner, there is no bank run since they can cover any investor interest.

Self-protected seaward banking is in reality safer than F.D.I.C. guaranteed U.S. banking. Why? Since the F.D.I.C. safeguarded U.S. banks are allowed to keep a liquidity factor identical to roughly 10% of their public stores. (Is anyone shocked why more U.S. banks flop every year than in some other country?)

Which sort of bank would you have a sense of security having your cash in? A seaward financial foundation which as one dollar in real money for each dollar on store, or a U.S. bank which as ten pennies in real money for each dollar that appears on the store articulation they give their customers?

FICTION: Offshore banking isn't pretty much as large or solid as U.S. banking.

Certainty: Of the most grounded and biggest large banks on the planet (in resources), one bank ONLY is situated in the United States:

Here are the most secure seaward banks on the planet, as per a positioning done in 2007 subsequent to analyzing their complete resources in US dollars. This positioning is gathered from monetary record data remembered for AllBanks.org

1 UBS AG Switzerland 2 Barclays UK 3 The Royal Bank of Scotland Group UK 4 Deutsche Bank AG Germany 5 BNP Paribas SA France 6 The Bank of Tokyo-Mitsubishi UFJ Ltd Japan 7 ABN AMRO Holding NV Netherlands 8 Societe Generale France 9 Credit Agricole SA France 10 Bank of America NA USA

2008/2009 UPDATE AFTER THE FINANCIAL COLLAPSE OF 2008

Germany's biggest bank, Deutsche Bank AG, announced a final quarter loss of about $6.3 billion. A year sooner, the bank posted a benefit of about $1.3 billion (1 billion euros), Bloomberg announced.

Imperial Bank of Scotland is relied upon to post misfortunes of as high as £1.7 billion.

Resisting the pattern is a bank not even on the rundown above and that bank is Standard Chartered bank which is hoping to post benefits of 1.3 billion pounds. I have a contact who can help you open a record at this bank for your organization on the off chance that you want to do as such. The record would be in Hong Kong.

Another bank I think about is evaluated AAA by an autonomous rating administration and in the event that you are not from the U.S. or on the other hand on the off chance that you are from the U.S. furthermore, have an unfamiliar LLC or IBC to open the record with then you can store $15,000 and engage in their get low and store high program which has procured contributors as much as 100% each year on their store. It is not difficult to open a record there.

FICTION: Offshore banking should not be excellent, or more offices would promote their administrations in papers and magazines in the U.S.

Certainty: Offshore banking all in all is limited by law from publicizing in magazines, papers, radio and on T.V. except if they go under a similar protectionist decides and guidelines that are put upon U.S. banks. Realizing that, you ought to be mindful about working with any seaward financial office that openly publicizes in the U.S. media. Since you can be extremely certain that they have sold-out to the U.S. banking foundation and that foundation will wind up selling you out to the individuals who make the standards.

FICTION: Offshore banking is just for the affluent.

Certainty: About 25 years prior, that may have been valid. Yet, I am aware of around three seaward financial offices that will permit you to open a record for just $500. One of these is in the Asia, another in Europe, and another in Latin America.

FICTION: Opening a record at a seaward financial office is excessively troublesome, and it is exceptionally hard to get a withdrawal when you need it.

Actuality: Opening a record at a seaward financial office is simple since you simply adhere to the directions they provide for you. Getting your cash out just requires a solicitation that you fax or email with a connection included.

This article is represented by global copyright laws and is administered by the laws of Ezine Articles. Violators of their standards will be rebuffed to the furthest reaches conceivable.

James Bauman Ph.D. has been associated with the seaward world, banking, and resource insurance for around 12 years now. During that time he has acquired an instruction in seaward banking and high return contributing and has learned of a seaward bank where contributors routinely make half to 100% high return on their cash each year. Out of the experience he has acquired throughout the long term he built up the seaward banking and resource insurance business FREEDOM OFFSHORE SERVICES. You can discover more and how to get FREE seaward ledger presentations here: [http://www.freedomoffshore.com/offshorebanking.html] Also, you can become familiar with why an individual seaward financial balance isn't the most secure approach to control your seaward banking here: [http://www.freedomoffshore.com/offshorebankaccounts.html] Now, how would you realize we are genuine? On the off chance that you need a reference for us, we can give you somebody to contact who will affirm our uprightness.

We desire to serve you not just such that sets aside you cash, yet by giving you quality assistance too. May your involvement with the universe of seaward banking and resource assurance consistently be a lovely one with our assistance.

#routing number #bank routing number

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rahulguptablog · 4 years ago

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Microsoft Gold Competency Partner for Dynamics 365 in UK

What is Microsoft Dynamics 365?

Microsoft Dynamics 365 is a smart business application plan from Microsoft that involves connections to run all parts of your activities and deliver truly improved results through man-made brainpower experiences. Dynamics 365 covers the conventional degree of ERP and CRM and grows well beyond areas that were not considered until long ago. There is Dynamics 365 Business Central ERP for small and medium affiliations, Dynamics 365 Finance and SCM for tremendous partnerships, Customer

Responsibility, sales, marketing, customer service, field service, project service automation (PSA), and human resources capabilities - all pieces of the Dynamics 365 suite in constant unforeseen development. Close to the Dynamics 365 suite are the different parts of the Power stage that develop the power of Dynamics 365 in a radical way.

It is a start to finish joining all Microsoft ERP, CRM and BI suites and is perhaps the best business stage. Generally works on any gadget like MAC / Windows / Android with solid and secure Microsoft cloud advancement. It is a supervised or encouraged approach to getting all business tasks done by putting everything on a modified plan that depends on the essence of both the company and the customer.

Why Microsoft Dynamics 365?

Once you've chosen Dynamics 365 for your alliance, you should finish the edge plan that best suits your issues the same way. But a growing group of customers take "on the web" as their default design model, they have different alternatives. Your business and administrative foundations, close to the limit of your foundation and the capabilities of social events, will affect your choice.

The variety of Microsoft Dynamics 365 may be your strongest advance yet on the Digital Transformation excursion. Parts 365 has packages that bring all aspects of your business together. These parts work autonomously, many equivalent to with a consistent mix.

Microsoft Dynamics 365 is a completely changed open door where you can work at your own pace and use whatever application you need and continue adding depending on the circumstances.

Microsoft Dynamics 365 in the cloud presents you with the best security framework in Microsoft Azure. Be it real security on worker farms, network availability, access controls, support gadgets and insurance against contamination and malware attacks. Purplish blue security is a form against what can be developed for a nearby establishment. Just when you use from the cloud, you simply get compensated for the licenses you have within your enlistment on a month-to-month basis. It can be adapted to go up or down. The Finance and SCM partitions have essentials for 20 clients on any occasion.

D365 allows you to have "endless experiences" in various aspects of your business. Data on Customers, Customer Service, Sales, etc. they allow you to reliably keep your business productive.

MICROSOFT DYNAMICS 365 PARTNERS

At an expert lead company, association, or demo, Dynamics 365 Customer Engagement (on-premises) encourages you to make yourself easier and more motivated from your customer insights. Since trades and associations are made up in a single development, salespeople can solve any interesting attendance problems, so they are not caught sleeping when they struggle to complete deals. Also, if a customer demands help, the customer service agent can see that there is a critical plan ahead and handle the guest depending on the situation.

With Customer Engagement LOB apps, you'll have the option of sensing and responding to issues that can interfere with plans, assessing how your partnership group is dealing with its ultimate tier nuances, and tracking your ongoing endeavors much more.

While you don't need to look at information bases, in any case, Dynamics 365 Customer Engagement (on-premises) is useful for some things about how information is created in a structure. In particular, you should think of two definitions, as they are used at various points in development: they form the genre consistently.

You will continually work with different customer records and record types as customers travel through their business estimates, gathering the information they need to fill in the fields for their records - in conclusion, to win in your business.

To mount your business profitably and sufficiently, you need a Microsoft Dynamics 365 master and before choosing the best Dynamics partner, you must have a real assessment.

Now that you know what is Microsoft Dynamics 365 and Microsoft Dynamics 365 Partners, Lets talk about Top Microsoft Dynamics 365 Partners in UK with Gold Competency.

1. All E Technologies

AlleTechnologies is one of the UK's driving and confided in Microsoft Dynamics 365 and Power Platform usage accomplices. AlleTechnologies provide you with one of the best Customer Services in US and other leading Countries like India, UK, etc. Alletec has proven success with offshore project executions. More than 150 customers from US, Canada, Europe, Africa, APAC, and the Middle East have leveraged Alletec’s offshore model for their project success. With more than 20 years of Experience and several clients AlleTechnologies are successfully providing services all over the world.

This is what the Company Says-

“Partner with Alletec for a sustained digital transformation journey – connecting Customers, Products, People & Data.”

In this age of relentless transformation powered by ‘digital,’ Alletec helps you stay ahead with Intelligent Business Applications. Leveraging the suite of Microsoft Dynamics 365, Power Platform, Data & AI powered by Azure – our industry solutions and services are designed to help you win.

We help in bringing together - Company & Customers, Factory & Field Service, StoreFront & Supply Chain, Patients & Providers, People & Governments - by putting in place integrated operational systems of ERP, CRM, Collaboration Portals, Mobile Apps, and enable businesses draw actionable insights from data.

2. Infinity Group

By choosing to work with a certified Microsoft Dynamics partner such as Infinity Group, you’ll get access to a team of professionally trained Microsoft Dynamics Consultants who are accredited across the full Microsoft Dynamics 365 application stack. This will enable you to benefit from our broad experience and unique expertise in implementing custom, end to end Microsoft Dynamics 365 business applications for hundreds of organizations across the UK

This is what Company Says,

As one of the fastest-growing Microsoft Dynamics partners in the UK, Infinity Group has worked for a multitude of clients designing and implementing Microsoft Dynamics 365 solutions using the full Microsoft Dynamics application stack.

With a wealth of experience across numerous industry sectors and for both a wide range of small businesses and mid-market enterprises, we are regarded as one of the leading Microsoft Dynamics 365 Partners in the UK. Our Consultancy team has specialist experience across the full Microsoft Dynamics application stack which also spans across the Power Platform, including Microsoft Power BI, Automate, Power Apps.

3. Company Net

This is What Company Says,

CompanyNet was formed in 1996 as a specialist Intranet/Extranet provider. We were an early adopter of Microsoft SharePoint technologies and have worked with every version. After successfully delivering a corporate intranet for oil giant Burma Castrol, CompanyNet was bought by Castrol and became a core part of their in-house Innovation Team. In 2000, Burma Castrol was purchased by BP Amoco, and the CompanyNet management team bought the business back from BP. We have remained an independent business ever since. Continuing our intranet and extranet work, CompanyNet became more involved in the Microsoft Partner UK Network, having joined in 2001. Following a series of successful intranet projects, CompanyNet was awarded our first Gold Competency in 2003, for Microsoft SharePoint and Microsoft Dynamics 365. These competencies allowed us to successfully deliver our first Enterprise IT Service for The Coca Cola Company. CompanyNet’s early success as a Microsoft Gold Partner in the UK included a significant project to deliver business critical services for The Walt Disney Company in 2005. Disney still uses the original application more than 15 years later, and remains a loyal CompanyNet customer. As a Microsoft Gold Partner, CompanyNet continues to deliver successful projects throughout the UK from our base in Edinburgh, Scotland.

Conclusion

As indicated by my investigation, One should go with AlleTechnologies. I considered everything about the three and became acquainted with about how straightforward functioning at AlleTec is. All the three gives best Microsoft Dynamics 365 Customer Services in US however working at Alletec is quite basic and truly simple.

This is my suggestion, If anybody got any uncertainty/recommendation you can remark down roar or Ping me up.

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aannaxavier · 6 years ago

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Business Openings oppertunities In Dubai

Is it accurate to say that you are intending to build up a business in the United Arab Emirates? In the event that you are scanning for appealing business openings in an area that can possibly achieve more shoppers, at that point Dubai ought to be top of your rundown. It is one of the seven emirates of the UAE, however, it is the most acclaimed one. Being the business capital of the UAE, Dubai offers boundless business openings.

There are a few things that make Dubai alluring to most representatives. To begin with, the city is very much associated with the remainder of the world. Its vital geo-area makes it simple to work with a different piece of the globe. Organizations arranged in Dubai can possibly reach over a billion people from neighboring nations in the Middle East, Eastern Europe, Africa, CIS, and West Asia. Dubai International Airport is one of the busiest and well-associated on the planet.

The city offers one of the most minimal corporate duties around the world. There are a few organized commerce zones in the city that draw in organizations from over the globe. Over this, Dubai is speculator amicable, and its typical cost for basic items is lower than in most created urban areas. With a well-created framework, innovation, and calculated association, the city draws in various financial specialists.

As of late, there has been expanding interest in the administration's ventures, for example, the travel industry, account, media, and innovation, just as the land segment. There are numerous different variables that make Dubai such a blasting pioneering scene.

The pioneers in Dubai are always improving the business condition for speculators. They are focused on giving the best offices and checking on their dynamic arrangements. Setting up a business is simpler on the off chance that you have every one of the prerequisites. Luckily, there are accomplices, for example, Virtuzone who can facilitate the way toward setting up a business in Dubai.

On the off chance that you are hoping to begin a business in Dubai, there are sufficient open doors in different ventures. Here are the top business openings in Dubai you can begin with negligible capital yet a solid ROI.

Promoting

The promoting business, particularly advanced media, keeps on appearing of development. In Dubai, there is a colossal open door for publicizing experts. In the event that you intend to get into this industry, there are a few roads and plans of action you can consider. Some top publicizing business openings are a brand improvement, 3D displaying and liveliness, and media purchasing. Others incorporate promoting effort creating, outside claim to fame publicizing and numerous others.

Clothing

Something that Dubai is celebrated for is style attire. Dubai is a well-known shopping goal – Millions of clients from around the world unite here to shop. Thus, in the event that you are a style aficionado, this could be the business opportunity that will associate you with worldwide clients. Regardless of whether you are providing ladies' dress, men's garments or children wear, there is an interest in Dubai. You will show signs of improvement returns whether you center around popular models, for example, a boutique shop, change administration, outfit rental, youngsters' architect attire, custom catch making, or some other comparative model.

Accounting

There are a few substantial and medium-sized organizations in Dubai and the entire of the UAE. In this way, there is an interest for experts and firms that offer accounting administrations. In the event that you have extensive experience with money or bookkeeping, there this is an open door you can benefit from. You need just about zero cash-flows to begin an accounting firm.

Counseling

A standout amongst the most gainful business openings in Dubai is putting forth consultancy administrations. While it might request broad experience, the advantages exceed the difficulties. Before you begin a consultancy business in Dubai, ensure you have all the relevant licenses from the specialists.

Internet business

Internet business is a developing part around the world, however, there are significantly more open doors in Dubai. The eCommerce part in the district isn't as created as in the US, Europe, or China. However, is energizing that there are a lot ofisstomers you can target. You can make their shopping experience increasingly advantageous by interfacing them with neighborhood retailers.

Training

One of the interesting highlights of Dubai is the nearness of an immense number of expats of different nationalities. Along these lines, there is a major open door for any individual who can set up a claim to fame schools. There is likewise a chance to target working populaces in fragments, for example, friendliness, IT, and expressions of the human experience. Instruction is a standout amongst the most beneficial chances. The principle prerequisites that you need are accreditations, licenses, and foundation. On the off chance that you would prefer not to begin another school, you can purchase an establishment.

Land

Today, the land is one of the greatest ventures in the United Arab Emirate. Dubai is home to the tallest structure on the planet; the Burj Khalifa. It likewise has numerous high rises, the greatest shopping centers, fake islands, and numerous business and private undertakings. In this way, there are openings in different sections of land. You can choose to wander into land improvement, property the executives, or financier.

What makes land so worthwhile in this city is the vast number of guests the city gets every year. There is likewise an immense populace of exiles who need properties to lease or purchase. In the event that you are wanting to set up a land office, you need every one of the licenses required to work.

Enlistment Agency

The interest in talented work is consistently rising. As the economy keeps on growing, a gifted workforce is required to drive different ventures. Every year, there are numerous organizations setting up workplaces in Dubai. Some of the time, these organizations face difficulties finding the correct abilities. The indigenous populace makes up under 1% of the workforce. Likewise, there is a test of the language boundary.

As of now, the nation has a deficiency of experts, for example, therapeutic, IT, architects, bookkeepers, and development specialists. The hole must be filled by remote laborers. In this way, there is a prepared market for enlistment organizations. You will take care of a noteworthy issue for these organizations on the off chance that you can discover a method for interfacing gifted occupation searchers from creating nations to the organizations in Dubai. Aside from interest, what makes enrollment organizations such a worthwhile open door is on the grounds that they need insignificant capital.

Related Links:

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seychellesfoundations · 1 month ago

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Offshore Foundation Formation: Privacy and Benefits

If you're looking to protect your assets and maintain privacy, offshore foundations can be a great option. This article will explain Offshore Foundation Formation Privacy and the benefits of Offshore Foundation Registration Fast, Offshore Foundation Formation Simple, Offshore Foundation Asset Protection, and Offshore Foundation Simple Administration. We’ll also answer common questions about offshore foundations and provide a meta description at the end.

What is an Offshore Foundation? An offshore foundation is a legal entity created outside your home country. It combines features of both a trust and a corporation, making it a flexible option for managing and protecting assets. Offshore foundations are typically set up in jurisdictions that offer friendly laws regarding taxes and privacy.

Benefits of Offshore Foundations

Privacy: Offshore foundations keep your financial information confidential, protecting your identity and assets.

Asset Protection: They can shield your assets from creditors and legal claims, making them a smart choice for wealthy individuals and businesses.

Flexibility: You can customize the structure to meet your specific needs.

Estate Planning: Offshore foundations help transfer wealth to future generations without complicated probate processes.

Tax Efficiency: Some jurisdictions offer tax benefits that can help reduce your overall tax burden.

How to Form an Offshore Foundation Offshore Foundation Registration Fast Here’s how to register an offshore foundation quickly:

Choose a Jurisdiction: Select a location known for its favorable laws, like the Seychelles or Panama.

Pick a Name: Make sure your foundation's name is unique and meets local rules.

Draft the Charter: This document outlines the foundation's purpose and governance.

Appoint a Council: This group manages the foundation. Check local requirements for council members.

Fund the Foundation: Initial funding can be cash or other assets.

File Required Documents: Submit your foundation charter and other necessary documents to the local authorities.

Receive Registration Certificate: Once everything is approved, you’ll get a certificate that officially recognizes your foundation.

Offshore Foundation Formation Simple Setting up an offshore foundation can be simple if you follow these steps:

Get Professional Help: Work with a legal or financial expert to guide you through the process.

Do Your Research: Look into the laws and reputation of potential jurisdictions.

Use Online Services: Many companies offer online tools to make foundation formation easier.

Stay Updated: Keep track of any changes in laws that might affect your foundation.

Protecting Your Assets with Offshore Foundations How Offshore Foundations Help Protect Assets Offshore Foundation Asset Protection is one of the main reasons to set one up. Here’s how they work:

Separate Your Assets: By placing your assets in an offshore foundation, they are kept separate from your personal assets, making it harder for creditors to access them.

Controlled Distribution: You can decide how and when assets are given to beneficiaries, ensuring they are used properly.

Legal Protection: Many jurisdictions offer strong protections against claims, making it tough for creditors to reach foundation assets.

Example of Successful Asset Protection For instance, a successful business owner faced a potential lawsuit. By creating an offshore foundation, they transferred valuable assets into it, effectively protecting them from legal claims. This approach not only secured the assets but also provided peace of mind during a challenging time.

Simple Administration of Offshore Foundations Managing an offshore foundation can be straightforward: Key Tasks for Administration

Regular Reporting: Many places require annual reports. Keep track of financial activities and decisions to stay compliant.

Financial Management: Use a solid system to manage and record all financial transactions. This helps during audits and provides clear information.

Stay Compliant: Be aware of any changes in laws and regulations that could affect your foundation. A local advisor can help with this.

Communicate with Beneficiaries: Keep beneficiaries informed about the foundation’s activities. This transparency helps prevent disputes.

Frequently Asked Questions (F&Q) 1. What’s the difference between an offshore foundation and an offshore trust? An offshore foundation is a separate legal entity designed for managing and protecting assets. An offshore trust, on the other hand, involves a trustee who holds assets for the benefit of others. Foundations give more control to the founders compared to trusts.

2. Can anyone set up an offshore foundation? Yes, anyone can establish an offshore foundation, but they must follow the laws of their home country and the jurisdiction they choose.

3. Are offshore foundations taxed? Tax treatment varies by location. Some jurisdictions offer tax exemptions, while others may tax income generated by the foundation. Consulting with a tax advisor is essential to understand the implications.

4. How do I choose the right place for my offshore foundation? Look at the legal framework, tax benefits, privacy laws, and the reputation of the jurisdiction. Research thoroughly and consult professionals for the best choice.

5. How can I ensure my offshore foundation remains private? Choose a jurisdiction with strong privacy laws, use nominee services, and keep foundation-related documents confidential.

Conclusion In summary, Offshore Foundation Formation Privacy is crucial for those wanting to protect their assets and maintain confidentiality. By understanding how to register your foundation quickly (Offshore Foundation Registration Fast), make the process simple (Offshore Foundation Formation Simple), and protect your assets (Offshore Foundation Asset Protection), you can leverage offshore foundations to meet your financial goals. With proper planning and guidance, establishing and managing an offshore foundation can be an effective and beneficial choice.

Source:- https://offshorefoundationsetup.weebly.com/blog/offshore-foundation-formation-privacy-and-benefits

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stopkingobama · 8 years ago

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Trump Restricts Immigration Program That Took This American’s Job

Photo: White House

After years in private business, Kurt Ho had finally found a rewarding information technology job, working for a public hospital in Northern California, ensuring vital systems—such as fetal health monitors—were functioning properly.

In October, Ho learned his job at the University of California, San Francisco Medical Center was being outsourced to a company in India, called HCL Technologies.

Ho was told he could stay on the job, get paid for four more months, and earn a bonus if he trained his replacement. Ho’s dream job lasted less than three years.

“I was very surprised because this is a hospital—we are not talking about something you can easily outsource,” Ho, 58, told The Daily Signal in an interview, just a few weeks after his last day of work, Feb. 28. “This is very important work. You are talking about patients’ lives here. So I absolutely want my replacement to do well for the patients and their families, for the doctors—who depend on the service. That’s what we wish for.”

Ho, along with about 80 of his IT co-workers, lost his job as a result of loopholes in a high-skilled visa program—known as H-1B—that allows U.S. companies to fire Americans and replace them with cheaper, temporary workers.

For Ho, that unfortunate designation is not the worst part. Ho is in the prime of his career—competent and able, he says. Facing his 12-year-old daughter is another matter.

“I am trying to get her to go into the STEM program at school, to pursue science and technology like I did,” said Ho, a U.S. citizen who immigrated here from Malaysia in 1989. “But she looks at me and says, ‘They shipped your job to India.’ I am setting a bad example for her. She is discouraged. She says she is thinking about dancing now.”

According to CBS’ “60 Minutes,” which recently profiled another University of California, San Francisco Medical Center employee who lost his job, outsourcing the IT work could save $30 million for taxpayers over the next five years. The state-run university has a $5.9 billion annual budget.

Becoming a ‘Cheap Labor Program’

Experts say most companies use H-1B visas properly—to employ highly-skilled foreign guest workers in sectors Americans cannot fully serve. But stories of abuse, such as Ho’s, have inspired a bipartisan coalition in Congress, and the president, to push for reform.

On Tuesday, President Donald Trump signed an executive order that he said would make it harder for technology companies to replace American workers with cheap foreign labor.

“Right now, widespread abuse in our immigration system is allowing American workers of all backgrounds to be replaced by workers brought in from other countries to fill the same job for sometimes less pay,” Trump said during an appearance in Kenosha, Wisconsin, where he announced the new order. “This will stop.”

His executive order calls for an adjustment in how H-1B visas are distributed, but stops short of mandating specific policy changes. Trump directs government agencies to suggest changes “as soon as practicable” that would ensure the visas are awarded to “the most skilled and the highest-paid” applicants.

Currently, the H-1B program is capped at 85,000 visas distributed annually—with 65,000 general visas and 20,000 reserved for workers with a master’s degree or higher—but demand regularly exceeds supply. On Monday, U.S. Citizenship and Immigration Services announced it received 199,000 petitions this year for visas, which are distributed at random through a lottery. The visas last for three years, and can be renewed for three more years.

#H1B Annual Cap Reached in First Week for Fifth Consecutive Year https://t.co/AHFBLGy3TI #immigration

— Immigration Council (@immcouncil) April 7, 2017

“The H-1B program is filling a need—there are critical skills we can get abroad that aren’t always available in the U.S.,” said David Kreutzer, a senior research fellow focused on labor and trade at The Heritage Foundation. “But we want the employers that have the greatest need for the rarest skill sets to be the ones to get these visas. The current lottery mechanism, where visas are allocated by random chance, does not do that.”

In another reform announced earlier this month, the Trump administration announced that U.S. Citizenship and Immigration Services will closely investigate employers with a high ratio of H-1B workers compared to American employees, and businesses that send visa holders to work off-site.

Experts interpret Trump’s measures against the H-1B program as explicitly targeting outsourcing companies that have come under the most scrutiny, and taken advantage of a loophole in the law that allows them to pay foreigners a minimum of $60,000.

Research compiled by Howard University associate professor Ron Hira shows that in 2014—the last year for which information is publicly available—all of the top 10 and 15 of the top 20 H-1B employers used the program principally to facilitate offshoring of jobs.

The top 13 outsourcing firms accounted for a third of all granted visas in 2014.

Indian outsourcing companies such as Infosys, Tata Consultancy Services, and Wipro receive most of the visas through the lottery system because they submit tens of thousands of applications to better their odds, Hira says.

“The intent of the program is a good one—to bring in the best and brightest to fill skills gaps, but the rules are so loosely written and loosely enforced that it’s basically gone off the rails, and it almost invites firms to come in and favor H-1B visa holders instead of the U.S. worker,” Hira, who studies the H-1B program, told The Daily Signal in an interview. “It’s highly profitable to replace a U.S. worker for a H-1B visa holder. It was never intended as a cheap labor program, but it’s become that.”

India’s leading technology trade group, the National Association of Software and Services Companies, says Indian companies are being unfairly targeted.

“We believe that the current campaign to discredit our sector is driven by persistent myths, such as the ideas that H-1B visa holders are ‘cheap labor’ and ‘train their replacements,’ neither of which is accurate,” the group said in a statement after Trump announced his executive order.

How H-1B Came to Be

The H-1B visa program came to life as part of an immigration reform package signed into law in 1990 by President George H.W. Bush. The law’s sponsors viewed it as a vehicle to attract top talent to America for “specialty occupations” such as science, technology, engineering, and math that face a shortage of capable U.S. workers.

Supporters of the program note that nearly every major high-tech company, including Apple, Google, and Facebook, rely on H-1B visas, and pay higher wages.

“Most companies use the H-1B very situationally,” said William Stock, president of the American Immigration Lawyers Association, in an interview with The Daily Signal. “They use it often because they don’t have another choice.”

The law, as it was originally written, was supposed to protect American workers.

It requires employers to pay foreign workers the area’s prevailing wage for the position, and to demonstrate that hiring foreigners would not “adversely affect” the working conditions of current employees in similar jobs.

An amended version of the law, enacted in 1998, included stronger protections, ordering companies that rely heavily on H-1B workers (more than 15 percent of their workforce) to promise not to replace American employees.

Yet, the amended law included a loophole. It allows H-1B reliant companies to be exempted from the requirements about protecting American jobs if they pay the foreign workers at least $60,000 a year, or hire a foreign worker with a master’s degree.

“The wage floor is way too low—the average IT worker in the U.S. makes way more than $60,000 per year,” said Hal Salzman, a labor force expert at Rutgers University, in an interview with The Daily Signal. “One simple reform to the program would be to take these tech companies at their word that there is a strong demand for high-skilled, world-class talent. Everyone would agree that the wage level for those jobs is at least $100,000, so you make that the salary floor, and for all practical purposes, the problem is solved.”

Stock contends that many companies who use the H-1B program are already paying above market wages, and requiring them to spend more could cause them to offshore more work permanently.

“Businesses want to make sure the wage test doesn’t become so onerous that it’s unrealistic,” Stock said. “Limitations on H-1Bs will drive more workers overseas. Sure, there is abuse within the program. That happens. We live in a fallen world. We have always said robust enforcement of labor standards that are already in place is the solution to those abuses.”

‘The Program at Its Best’

Bipartisan pressure to reform the H-1B visa program remains.

Experts say that Trump’s executive order will have limited practical impact, unless Congress steps in.

For example, changes in the number of visas awarded annually would need congressional approval.

Multiple bills have been introduced in Congress that would fundamentally change how visas are distributed, and who benefits from foreign work.

Rep. Ro Khanna, D-Calif., an Indian-American who represents Silicon Valley, has a personal stake in fixing the H-1B program.

Khanna, a freshman lawmaker, is one of the sponsors of a bill, called the H-1B and L-1 Visa Reform Act, that would eliminate the lottery system that rewards visas and replaces it with a “preference system.”

Under the legislation, which is also sponsored by Rep. Dave Brat, R-Va., of the conservative House Freedom Caucus, foreign students educated in the U.S. would get priority for visas. It would give special preference to those holding advanced degrees who would be paid a high wage and have valuable skills.

In addition, the proposal would not allow companies with more than 50 employees to hire more H-1B workers if 50 percent of their employees are already on H-1B and L-1s—another type of specialized work visa. Sens. Chuck Grassley, R-Iowa, and Dick Durbin, D-Ill., have introduced an identical bill.

“My sense is most Americans appreciate the contribution immigrants make to the workforce, they just don’t want the system gamed,” Khanna told The Daily Signal in an interview. “But under the H-1B program today, the beneficiaries are corporate interests. A lot of the H-1B workers are facing exploitation. The empathy is as much for them as the American workers who are getting the raw deal. The program at its best is for truly exceptional people to innovate and not as a way of underpaying foreign workers.”

Ho, the American who lost his job to a contracted Indian worker, said he too does not blame the H-1B visa holder.

“I am an immigrant myself; I would be the last person to bash immigrants,” Ho said. “The person who replaced me is taking advantage of an opportunity a broken system provides him.”

Last week, Ho landed another job, working for Robert Half International, a California-based information technology company.

“I have the skills, so getting work wasn’t an issue for me,” Ho said. “This is about taking a stand, not just for myself, but for my daughters, for my family, and for all Americans.”

Josh Siegel, The Daily Signal

#executive orders #immigration #jobs #trump #Donald Trump #Executive Orders #Immigration #Jobs

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multiversesoftware · 4 years ago

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