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With regard to political and civil freedoms, Israel is 1. Citizens in Israel experience total freedom. The majority of countries in which citizens enjoy expansive civil liberties and political freedoms are representative democracies, in which officials are directly elected by citizens to advocate for their needs and desires. Free countries are often bolstered by healthy economies and high-functioning governments. The businesses of Israel are 2 in terms of economic liberty. Citizens in Israel are considered mostly free with regards to their economic decisions. While the government exerts some control over commerce, citizens are still able to control their own finances and property. Corruption may be present but it does not hinder economic growth or freedom to any large extent. In terms of journalistic freedom, the media of Israel is in a 3. In Israel, journalists are generally allowed to express a variety of opinions and a number of news sources are in operation. However, the government may censure or express disapproval towards specific topics or publications. This is considered to be a satisfactory situation.
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India's economy is calculated to be the third largest in the world in terms of purchasing power parity and the sixth largest in terms of nominal GDP. India is also one of the most important G20 economies with a growth rate averaging around 7% over the past two decades. In the last quarter of 2014, it became the fastest growing major economy in the world, overtaking the People's Republic of China. Although both countries showed very similar growth rates in 2016, China's growth is forecast to slow down, while the Indian economy's growth will recover to 7.2% in 2017. According to a PWC report, The World in 2050, India's nominal GDP could surpass that of the United States as early as 2040. The report also forecasts India's GDP to double to $5 trillion by 2025.
There are several key reasons for India's positive long-term growth prospects, including its relatively young population (with a correspondingly low dependency ratio), healthy investment and savings rates, and increasing integration into the global economy. The Indian economy is believed to have the potential to become the third largest in the world by the next decade and one of the two largest by mid-century.
Another reason why India's economy has grown faster than other countries is probably due to the increase in government investment, which incidentally also plays a significant role in the second fastest growing economy in the world - China. Meanwhile, slow-growing Western countries rely mostly on private rather than government investment.
India's service sector is one of the fastest growing in the world, growing at 9% every year since 2001. India has emerged as a major exporter of Business Process Outsourcing (BPO) services, software and IT services, making it the largest private employer in the country. India also has the fastest growing number of internet users in the world, showing the huge potential of e-commerce in India. Flipkart and Amazon are the best examples of e-commerce success in India. India is also the third largest startup hub in the world with more than 3100 tech startups in 2014-2015.
As India's economy continues to diversify and grow, agriculture's contribution to the country's GDP has steadily declined since 1951, but it still plays a significant role in the country's socio-economic development and is one of the largest sources of employment. India currently ranks second in the world for agricultural production.
Foreign direct investment is currently an important driver of economic development in India. Foreign companies are investing in fast-growing private companies to take advantage of lower wages and a burgeoning business environment. India is extremely attractive to foreign investors. In fact, in the first half of 2015, it overtook the US and China as the top destination for FDI, attracting US$31 billion compared to the US's US$27 billion and China's US$28 billion.
Among other things, the service sector has attracted a large part of foreign direct investment since 2011. The service sector includes finance, banking, insurance, non-financial business services, outsourcing, research and development, courier services, and technology testing and analysis. During FY 2014-15, the service sector attracted US$3.25 billion, representing 17% of total FDI.
The services sector is followed by construction development (new housing, housing, urban development and infrastructure) with FDI worth US$2.89 billion, telecommunications sector (paging, mobile and basic telephone services) with US$2.57 billion and computer software and hardware with foreign direct investment worth US$2.20 billion in the same period.
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Indonesia is the largest archipelago in the world, located between mainland Southeast Asia and Australia. The country consists of over 17,000 islands, of which only 6,000 are inhabited. Due to its complex and unique geographical location, Indonesia is extremely diverse in its ecosystem and fascinating with its heritage and history.
Business Environment in Indonesia The Indonesian government has been working hard on regulatory and legal reforms to make the country more attractive to foreign investment, which plays an important role in Indonesia's economy. Indonesia is a producer and exporter of oil and gas, various mining products such as nickel, coal and tin, as well as agricultural products and fisheries. Local and international banks and other non-bank financial institutions are the main sources of money in Indonesia.
In Indonesia, as in many other countries around the world, prevailing cultural norms are also reflected in the business environment. Because of this aspect, companies in Indonesia tend to be highly hierarchical, with all decision-making controlled by a small group of executives. Similarly, the same sense of hierarchy carries over to the entire organization where employees prefer the manager to make the decisions and assign tasks. Initiative and proactive thinking are now seen more as a criticism of management than as a positive and desirable action on the part of an employee. The hierarchical nature of most organisations, and particularly governmental institutions, results in enormous bureaucracy.
Business structures in Indonesia There are several possible types of business structure in India and every investor should carefully consider the most suitable structure of their company considering the industry, number of employees, capital structure and various other aspects.
Limited Liability Company (PT) Limited Liability Company or Perseroan Terbatas (PT) in Indonesia is the most popular type of company structure among local entrepreneurs. A PT requires a director, a commissioner (can be a non-resident) and at least two local shareholders. The chief responsibilities of the commissioner are the oversight of the company, reviewing the annual accounts and approving the budget prepared by the board of directors.
According to the company law, Limited liability companies are further divided into following categories:
Micro Company – if net capital does not exceed 50 million rupiahs (3,745 USD) (excluding buildings and land) or annual sales turnover does not exceed 300 million rupiahs (22,171 USD). Small Company - if net capital is between 50 and 500 million rupiahs (3,745 USD to 37,435 USD) or annual sales turnover is between 300 million and 2.5 billion rupiahs (22,171 USD to 184,763 USD. Medium Company - if net capital is between 500 million and 10 billion rupiahs (37,435 USD to 739,053 USD) or annual sales turnover is between 2.5 and 50 billion rupiahs (184,763 USD to 3,695,267 USD). Large Company – if net capital is over 10 billion rupiahs (739,053 USD) or its annual sales turnover is more than 50 billion rupiahs (3,695,267 USD). If foreigners are employed in the company, it has to be at least medium-sized. As the incorporation of a PMA generally takes a significant amount of time, it is possible to use the Indonesian nominees for the initial setup of an LLC in order to reduce the incorporation procedure by approximately 2 months.
Foreign owned LLC (PMA) If a limited liability company is partly or wholly owned by foreign investors it is called Penanaman Modal Asing (PMA). PMA is required to receive an approval from the Capital Investment Coordinating Board before any business activity can take place in Indonesia. Furthermore, under this business structure, the owners are required to present a business plan for a minimum of 1.2 million USD and deposit at least 300,000 USD as share capital.
PMA requires at least one resident director, two shareholders and one commissioner. In case the company is fully owned by foreigners, the owners are obliged to sell at least 5% of the company to an Indonesian citizen or a domestic business within the first 15 years of its incorporation. There are particular industries, in which foreign businesses need to obtain operating licenses in order to operate. Some business sectors are fully restricted to foreign companies or only allow businesses with partial foreign ownership. For example, in the mining sector at least 20% of the company needs to be owned by a local shareholder within 5 years since its incorporation.
Public companies According to the Indonesian Company Law, public companies are required to have a minimum of 300 shareholders and at least 3 billion rupiahs as paid-up capital. While public companies are subject to more strict regulatory provision if compared to PT or PMA, it is not compulsory for public companies to be listed on PT Bursa Efek Indonesia (national stock exchange).
Partnerships Partnership in Indonesia is a common type of business structure, but only Indonesian nationals are allowed to form partnerships.
Persekutuan Perdata (PP) – partnership between two or sometimes more people with an aim to make a profit. Firma (Fa) – open partnership incorporated to hold a business name used by trading and service enterprises. Persekutuan Komanditer (CV) – a limited partnership with one partner allowed investing money in the business and not managing the company.
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Major industries in the country are metal-cutting machine tools, electric motors, television sets, refrigerators and freezers, petroleum refining, shipbuilding (small ships), furniture, textiles, food processing, fertilizers, agricultural machinery, optical equipment, lasers, electronic components, computers, amber jewelry, information technology, video game development, biotechnology. The Industrial Production growth rate of Lithuania is 2.5%.7.3% of population in the country are unemployed. The total number of unemployed people in Lithuania is 209,983. Lithuania produces 12,270 GW/h of electricity each year. Lithuania emits 4.5 metric tons per capita of CO₂. On average, you would pay 1.57 USD for one liter of gasoline in Lithuania. One liter of diesel would cost 1.05 USD.
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The development of telecommunications and economic globalization have made it possible for interested investors to set up companies all over the world. With proper research, financial investment and legal backing, business ventures can be safely incorporated in almost any country in the world. Building an international business used to be a complicated entrepreneurial venture, but today it is commonplace with the help of experienced legal and business advisors.
The advantages of founding a company abroad are as numerous as they are obvious. Many countries offer specific locational advantages, ranging from natural resources and well-established infrastructure to beneficial laws and regulations that encourage growth in a particular industry. Likewise, it can be difficult to start a business or an acquisition in your own country due to adverse situations: political or regulatory environment, lack of resources and more. In this situation, it makes sense to consider an overseas option that offers greater opportunities for growth, development, and success.
Company registration in Madagascar When starting a business in Madagascar, an interested investor must conduct due diligence on legal procedures, international regulations and sufficient investments for success. It is crucial to understand cultural, social and political factors that influence starting and growing one's business. Failure to do so may result in unintended consequences. Poorly researched and toneless international launches often end in disaster as time, money and energy is wasted due to poor planning.
Legal Documents Every country in the world presents its own intricate challenges when it comes to starting, developing and maintaining a business. Owners, financiers and investors must make these commitments with the support of a knowledgeable and experienced legal team. Only someone with in-depth knowledge of local and international corporate law will be able to set up an overseas business while avoiding the pitfalls that plague many new businesses.
Additionally, smart business people can consider ways to invest in foreign companies without actually starting their own businesses. In these situations, it is still beneficial for the investor to partner with a knowledgeable global economics and litigation advisor. International investments create a truly diverse portfolio that offers growth opportunities that were unthinkable decades ago.
Potential investors, venture capitalists and entrepreneurs should consider the existing infrastructure in Madagascar when planning to start a new business. While extensive infrastructure and systems can help make the process of starting a business a smooth one, it could also represent market saturation and reduced growth potential. On the other hand, a lack of infrastructure is often a major obstacle to growth; However, the lack of infrastructure points to a clear market opening for a creative and efficient new business.
Opening a bank account in Madagascar In connection with the formation of a company, it is necessary to open one or more bank accounts in Madagascar. Confidus Solutions offers the ability to open a bank account in over twenty jurisdictions, making it easy for you to avoid challenging language barriers or bureaucratic hassles.
Virtual office in Madagascar Since a registered address is a necessity for international business, Confidus Solutions enables foreign investors to set up a virtual office in Madagascar. This address allows international entrepreneurs to accept mail, arrange for shipping and set up a registered bank account in their country of business.
Tax regulations If you are researching starting a business in Madagascar, consult with a lawyer or consultant with extensive experience in the area you are considering. This advisor can help you with everything from laws and tax structures to local helpers. You need to consider every aspect from the local office to your highest organizational structure; Make sure you recruit the best possible mentors as you embark on this exciting but challenging process.
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Given that within the European Union there are no withholding taxes on IP royalties between member states, we can suggest a number of countries where royalties are particularly advantageous.
CYPRUS The intellectual property royalties tax regime in Cyprus has changed as a result of the recommendations of the Organization for Economic Co-operation and Development (OECD) Action Report 5 and the Ecofin Council conclusions published on 8 December 2015. Legislation has been changed to limit the companies that can benefit from research and development (R&D) exemptions, but the tax rate in Cyprus is still one of the most favorable in the EU for foreign companies using Cyprus intellectual property want to license -resident companies (intermediaries), where this right is then sub-licensed to the end user. Overall, the effective tax on IP royalty income should be less than 2.5%.
IRELAND In 2015 Ireland introduced an effective corporation tax rate of 6.25% on intellectual property income based on an allowance for research and development costs borne by the company. By linking the two components in this way, Irish law encourages companies to conduct R&D directly within the EU - leading to the creation of intellectual property - while discouraging them from acquiring licenses without directly committing to R&D.
BELGIUM Belgium has introduced a tax system that favors those with income from acquired copyrights. This tax regime can have many different applications and can be used to protect artworks as well as a useful tax break for IT developers. Income from IP rights royalties is taxed at 15%. This income is not taken into account when calculating social security contributions. In addition, these taxes are reduced by 50% for imports due to the application of standard import costs. The first €15,000 that a copyright owner earns in a year is therefore taxed at 7.5%, and the next €15,000 at 11.25%. This tax system applies to people with a total annual income of up to 56,450 euros.
LUXEMBOURG In general, corporate tax in Luxembourg is 29.22%, but for IP licensing income it can be as low as 5.8%. This is due to an 80% corporate income tax exemption. Interestingly, this exemption also applies to companies that have registered a patent for use in connection with their own business, which then calculate a notional net income as if they had received the licensing income.
ITALY Italy is a larger market compared to the other countries discussed and can be a very attractive place for a company to invest in R&D since 2015 companies have been able to deduct intellectual property income from their taxable income base. The tax deduction was set at 30% in 2015, 40% in 2016 and 50% from 2017. Businesses will therefore enjoy a significant tax rebate by reducing their taxable income.
THE NETHERLANDS Since 2010, IP income has been taxed at only 5% in the Netherlands. Except for patents, there is no income limit. Patent holders can actually have access to this tax regime if their share of the expected revenue is between 30% and 70%, taking into account the total combined revenue from patents and other sources. These rates also apply to foreign companies owning intangible assets or companies that have received research and development accreditation from the Dutch Ministry of Economic Affairs if they are owners of software IP or trade secrets. The only other caveat to this favorable tax regime is that it doesn't apply to marketing and branding-related assets.
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Confidus Solutions list of banks in Australia contains 15 banks.
You have several options for bank account opening in each one of the banks listed below.
Select a bank Bank of Queensland Bendigo & Adelaide Bank Bankwest Suncorp Group Bank AMP Bank Macquarie Bank Westpac ANZ Banking Group Commonwealth Bank National Australia Bank BankVic Australian Settlements P&N Bank MyState Bank IMB Bank