A number of countries worldwide allow for dual citizenship. The advantages of dual citizenship are no doubt numerous. In many cases, it makes travel easier, expands property ownership possibilities, and provides access to two social service systems.
The world is becoming increasingly globalized, and cross-border activity is now the norm. That means that countries across the world need to work together cooperatively and collaboratively in order to ensure that taxpayers are paying the correct amount of tax in the appropriate jurisdiction.
Ireland can be characterized as a mid-shore tax jurisdiction, meaning that it allows non-resident companies to register in the country, providing them with a lower tax rate and allowing them to create banking accounts anywhere in the world.
Unlike classic offshore jurisdictions, mid-shore jurisdictions adhere to all international standards on tax transparency while also offering a favorable, more interchangeable tax rate.
When you form an offshore company, you can place your assets offshore by titling your personal bank accounts and other assets to the company.
The OECD Common Reporting Standard is an agreement between 47 countries to share information on their residents’ assets and income.
An offshore company is a company registered in a jurisdiction where it doesn’t conduct the majority of its business. While offshore companies sometimes have a reputation as being illicit or shady, they are absolutely legal to set up and to use
Since their release in early April, the Panama Papers have been making waves. German newspaper Süddeutsche Zeitung reportedly obtained these confidential records from an anonymous source and then shared them with the International Consortium of Investigative Journalists.
Intellectual property is a broad term that encompasses intellectual creations over which a monopoly is assigned to the designated to the owners of those creations. Common examples of intellectual property include copyrights, industrial trademarks, patents, trade secrets, industrial property rights, and industrial design rights.
When forming a company, it is important to consider where you want to register that company. Specifically, whether you want to stay onshore or go offshore or mid-shore. Offshore, onshore, and mid-shore refer to different kinds of jurisdictions in which you can register a company.