Breaking the Misconceptions Regarding Offshore Banking Posted On : Aug-19-2011 | seen (172) times | Article Word Count : 430 |
Offshore banking is a strategy used by many individuals and corporations to protect their short term as well as long term financial assets. Offshore banking basically means opening bank accounts in a country other than one鈥檚 home country. Offshore banking is a strategy used by many individuals and corporations to protect their short term as well as long term financial assets. Offshore banking basically means opening bank accounts in a country other than one鈥檚 home country. Offshore bank accounts are opened for a variety of reasons like asset protection Cheap Tyreke Evans Jersey , tax planning, wealth management, and more. It is a common enough practice in international business and has been around for many years. Yet Cheap Ben McLemore Jersey , offshore banking has come under close scrutiny and criticism as being a trick to evade taxes. There are many such misconceptions and myths surrounding offshore banking that have contributed towards its negative reputation in public imagination. This article deals with some of those misconceptions and tries to dispel them to get at a more clear understanding of offshore banking.
鈥?The first misconception that needs to be cleared up has to do with the belief that offshore bank accounts are illegal. This is simply not true. Most countries have laws that require offshore bank account holders to report the existence of such accounts - by no means is this illegal activity.
鈥?Individuals do not open an offshore bank account solely to evade taxes. Rather, it is a well known strategy used to protect one鈥檚 assets against political risks in one鈥檚 home country. Efficient tax planning and wealth management are other benefits of offshore banking that many wish to take advantage of.
鈥?Many people believe that a substantial amount of money is required to be able to open offshore bank accounts. While it is true that many offshore banks require a minimum of one million dollars deposit to open accounts; there are lots of offshore banks that allow one to open an account with a mere 500 dollars. Offshore bank accounts are thus, no longer the sole preserve of the ultra rich.
鈥?Another misconception regarding the offshore bank account is the commonly held belief that these are mainly opened in small tropical countries like the Cayman Islands Cheap Ty Lawson Jersey , British Virgin Islands, and so on. On the contrary, accounts can be opened in any of the advanced Cheap Langston Galloway Jersey , developed nations like Hong Kong, Switzerland, Singapore Cheap Rudy Gay Jersey , and more. It is this association with shadier and remote, small islands with offshore accounts that have given the process such a bad reputation as being used mainly for money laundering.
鈥?Another myth regarding offshore accounts is that these are completely exempt from taxes. Many offshore jurisdictions, in fact Cheap Darren Collison Jersey , do tax income earned from accounts held by foreign individuals while other countries actually tax worldwide income.
Dos And Don'ts For Successful Social Networking Marketing Articles | August 10, 2015
Social media is an amazing tool that can play a vital role in enhancing your business prospects. However, you need to understand what social networking is all about. Here is a list of ‘dos’ and ‘don’ts’ that can help you in your social media marketing campaign.
As a result of social networking Cheap Zach Randolph Jersey , it has become quite easy for businesses to examine the history of their current and potential clients. Soon, an individual’s online existence will change the requirement of a résumé, and even a single mistake would endanger the opportunities in the future.
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Check out these ‘dos’ and ‘don’ts’ for social media networking Cheap Anthony Tolliver Jersey , searching for work and socializing efficiently on various social media platforms.
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DO: Be mindful about your selection of text
On social sites, anybody is judged by means of the words and expressions utilized as a part of comments and posts. Inciting or irritating words could harm your overall population prominence.
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DO: Think prior posting
Various stats have revealed that almost 45% of companies remove candidates whose profiles have references to drugs and Alcoholic beverages. Be careful while you share constant, posts Cheap Justin Jackson Jersey , video or photographs on your profile.
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DO: Connect every social media platforms
Numerous people use different names, monikers or lingo names for diverse online networking records, and this may bring about befuddling a potential customers. Coordinated records may help organizations to find you on different long range interpersonal communication locales.
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