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Bowman Offshore Bank Transfers on Offshore Company: Why and How To Move Your Business Overseas

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Bowman Offshore Bank Transfers on Offshore Company: Why and How To Move Your Business Overseas

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To set up an offshore company or relocate your existing business overseas is a crucial step toward internationalizing yourself and your assets. Search for “offshore company” and you’ll find thousands of websites promising a quick company formation in Panama or the British Virgin Islands, with a range of other “benefits” for the jurisdiction in question.

There is a current misconception that offshore business is about evading taxes and hiding money from the government, which is certainly not the case.

There are 100% legitimate ways to structure your business interests overseas and realize significant benefits from an asset protection standpoint — as well as tax-standpoint.

Want an example? In the last few years companies such as Google, Apple and a multitude of other companies have cut their taxes by billions of dollars in completely legitimate ways.

You too can do this.

Some say this is unethical and cheating, but not surprisingly, those who say these are most often not the same people as those who create value in society. If you’ve found your way to this page, chances are strong that you’re a value creator and want to keep more of the money you get back as a result of creating value.

Tax Advantages with Offshore Business

First of all, you don’t have to start a company offshore to save on taxes. If you’re an American, just moving out of the US is a terrific first step.

As a US expat, about $100,000 in overseas income is tax exempt, meaning that if you live outside the US you don’t have to pay any taxes at all on the first $100,000 or so of foreign sourced income (you still have to file your tax report though).

However, the real tax advantage from running an offshore company as a US citizen doesn’t come from direct tax savings.

It comes from tax deferment, meaning you postpone the payment of taxes into the future. If you run a business overseas and reinvest profits within the company you can defer taxes indefinitely.

Let’s say you have a profitable company overseas. Now imagine that instead of paying taxes on your profits every year you can reinvest that capital in your offshore company every year for 30 years, and only pay taxes if you decide to sell the company after 30 years.

Being able to reinvest your capital tax-free combined with the power of compound interest makes this a truly exceptional opportunity.

Offshore Internet Business: Incorporating a Truly Global Business

It’s a great idea to structure your business overseas, especially one that’s online-based. If you incorporate your foreign business properly, it provides a legal way to defer tax payments (similarly to an IRA), as well as enabling much reduced liability.

An online business has no limits as to how and where it can do business, so why should you let your business be limited by a jurisdiction that is based on the old, geographically limited model? Starting an offshore online business is a great way to build streams of income outside of your home country.

Why would you want to have income streams outside of your country? Well, when inflation runs rampant in a country, having an income stream overseas in a stronger currency can potentially be a lifesaver.

If hyperinflation would find its way to your country, which is a real risk with central banks all around the world printing new money 24/7, earning only a small part of your income in a different country is invaluable.

An internet business based overseas, coupled with an offshore bank account, is the perfect medium through which you can do this.

Offshore Company Formation: Ins and Outs

There are dozens of jurisdictions, such as Hong Kong, Singapore and the British Virgin Islands that offer a great business environment with fully legal tax benefits.

The most important thing that you MUST do is ask for advice from a qualified tax attorney (someone who understands international tax law) in your home country. Additionally, learn enough to understand the benefits of particular offshore jurisdictions.

After you’ve done your due diligence, it’s possible to go through the whole incorporation process online in most jurisdictions, and you can often set up your offshore company in as little as a few days. You often start the process with registering a company name and sending in the right documentation. The next step, after incorporation, is often to open a bank account or merchant account for your business.

Offshore Business Readings

Here are a few selected articles from Sovereign Man about starting and running an offshore company. You will find tons of information by searching the internet, but it’s hard to know if a company is giving correct information or if the purpose of their information is to get their hands into your pockets.

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Devin Fitzpatrick Art Consultants Review: How to ensure a good art for your home

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Devin Fitzpatrick Art Consultants Review: How to ensure a good art for your home

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It is often the case for many houses to put artworks on their interior design to add more meaning to each room. Giving more beauty to a space in your house is exciting, right? And when you choose to buy artworks for your design, you will surely grasp the importance of having art in your place. Devin Fitzpatrick Art Consultants wants you to express yourself on your design as well by putting unique and special art that you like.

Art can provide both energy and elegance according to some art professionals. You will often see on known interior design magazines the importance of including art in decorating a home or office spaces. The inclusion of art is usually recommended to bring out the positive feelings from each person entering a room with artworks.

Consider buying local artworks if you’re currently searching for art pieces to put on the walls of your house. Local artists offer beautiful, quality and original art, and are typically inexpensive, so this is a win-win situation. To add a personal touch, you can customize its frame according to your likings.

Ensuring a good art for your home needs you to follow some steps, and the important ones are provided in the following paragraphs by Devin Fitzpatrick Art Consultants. Rest assured because each is very easy to follow.

Putting frames on the art is advised to make it look better and to add some style. Don’t worry if you put it on a cheap frame because you can modify it to give it a brand new and a personal touch. Framing art can also protect it from the harsh environment.

Balance the tone and scale of the artworks on your interior. If you’re going with different genres, ensure to still match the tone and scale of everything you put in a room. If you’re into black and white photographs and want to add more art of the similar feel, you can go with charcoal drawings or monochromatic paintings.

Create a beautiful collage on wide walls. If you have a lot of small art pieces, you can put them all together beautifully. For example, if you’re fond of mirrors, you can put different sizes of it on the wall to end up with an amazing mirror collage.

Stick with your concept or theme. The very first thing to consider in decorating your interior with artworks is choosing a theme, and after you decided with one, remain focus on it. Your theme could be categorized into two: traditional or modern. Choose soft and classical pieces for the traditional theme, while cutting-edge or contemporary art pieces for a modern theme.

Reading magazines about art decorating can also help you gather more useful information. Collect décor magazines and visit related blogs for a lot of good ideas. Write down all the ones that caught your interest.

Learn about the meaning of each artwork that you buy to better appreciate its value so that no matter how many years it is hanged on the wall, you will never get tired looking at it.

As mentioned earlier, make sure that there’s balance in your interior design. Carefully plan where you will put each art piece and after everything is organized, ask yourself if what you’ve done provided the right impression and have a good balance between its content, color, and shape.

Achieving stability is also important. Every piece should have a positive relationship to one another and should contribute to the consistency of your design. You may arrange the pieces according to their medium, genre, artist or color.

Follow the latest posts from Devin Fitzpatrick Art Consultants for more useful tips and guidelines in relation to art.