The Global Entrepreneurs Guide to CFC Rules

CFC (controlled foreign corporation) rules are a set of legislation primarily introduced to prevent the operation of empty shell companies in low-tax jurisdictions out of countries with higher corporate taxes. Contents1 Why do countries implement CFC rules?2 The different levels of CFC rules2.1 Countries with strict CFC rules, against active enterprises2.2 Countries with strict CFC … Read more

The Different Income Tax Systems Worldwide

Contents1 An overview over the different tax systems2 1. Citizenship-based taxation3 2. Residential taxation3.1 Determining tax-residency: 183 day rule4 3. Territorial taxation4.1 Countries with territorial tax system5 4. The Non-Dom-System5.1 What is your domicile?5.2 What is your residence?6 5. No direct taxes An overview over the different tax systems These are the four primary tax … Read more

Revolut | The Best Banking Solution For Global Citizens

As of November 2018, we rank Revolut as the best banking solution for nomads and global citizens. It has a very high convenience factor, great security features and a few special attributes that are hard to find elsewhere. Contents1 General Features of Revolut1.1 Solid multicurrency support1.2 Excellent mobile app1.3 Analysis and Budgeting2 Next-level security features2.1 … Read more

TransferWise Borderless

Click here to open a free TransferWise Borderless account TransferWise Borderless is a free multi-currency account. Features Hold money in more than 40 currencies Receive payments in EUR, USD, GBP, AUD and others Free, contact-less debit card No foreign exchange fees   Regulation TransferWise is authorised by the UK Financial Conduct Authority under the Electronic … Read more

TransferWise For Business

Free multi-currency account. Acceptance of corporate structures Hongkong Limited: Not accepted (Information verified November 2018)Cyprus Limited: Generally accepted, if UB is EU-resident (Information verified October 2018) Regulation TransferWise is authorised by the UK Financial Conduct Authority under the Electronic Money Regulations of 2011 (with reference number: 900507)

Strategies For Compliance For Perpetual Travelers

Financial institutions have to comply with many regulatory requirements.Often they require an address verification of their customers for KYC (know-your-customers) purposes. The so called “utility bill” has since become a de-facto standard for address verification.A utility bill is typically a monthly invoice that shows the consumption of utility services during the preceding month.Traditionally this relates … Read more