The Group brings country-specific business knowledge, multidisciplinary experience and professional synergy in all sectors with legal, financial and industrial requirements, has developed expertise in a diverse and attractive range of international incorporation structures to arrive at the best possible answers for cross-border transactions.
GlobalTrust Group promotes cross-border investment opportunities to the global business community and for providing assistance to investors before, during, and after their entry into the investment country.
Operating with a network of local consultants based in proposed countries, we offer an extensive range of services to investors through a one-stop-shop approach, ensuring optimal results from investments beyond borders.
GlobalTrust’s consulting services offer investors general and customized business information, such as providing updates and guidance on the latest laws and regulations, establishing a business in the related country. In order to provide smooth entry into the country, GlobalTrust assists with the initial introductory connections and meetings with potential suppliers, customers, and service providers based upon the needs of the related investment project and investor.
GlobalTrust’s site selection team takes the lead on all investment related processes, including searching for available sites and conducting land studies with all required information. Support for site selection services is not limited to desk-bound research, but also includes holding site visits with investors, following up infrastructure work, coordinating land development, and collecting all related data and information on-site with regard to feasibility.
Project launch services include creating and distributing press releases to mark the announcement of investments, organizing groundbreaking and inauguration ceremonies, and other related PR activities for the launch of the investment.
GlobalTrust assists both multinational and local companies to find suitable partners for possible JVs, M&As, and projects to be run, continues to stay in contact with investors on a regular basis in order to ensure that every phase in the continuing life cycle of the project goes smoothly, provides a wide range of exclusive aftercare services.
‘If you don’t move abroad as a result of fear of failure and stay in your home market, you run the risk of missing out on opportunities,’ says Prof. Gigerenzer, Director at Max Planck Institute Germany and author of ‘Risk Savvy: How To Make Good Decisions’.
When first setting up a global business there are many issues to consider. Starting and managing a business takes motivation, desire and talent, also research and planning.
Like a chess game, success in establishing international corporate structure and business beyond borders starts with decisive and correct opening moves. A smart incorporation concept is often key to the success of global ventures. Depending on where and how to incorporate, organisations may achieve incredible benefits.
GlobalTrust can find and implement the appropriate solutions by incorporating beyond borders and provide the knowledge and connections necessary to ensure that the process runs smoothly. Drawing on an extensive partner network, GlobalTrust clients can get offered all what they need by expanding and doing their business beyond borders.
As enterprises globalize, they find themselves entangled in a complex web of tax rules and regulations in unfamiliar territories. It becomes increasingly important for them to find new ways to align their tax strategies with their overall business needs, while meeting their compliance obligations wherever they arise.
GlobalTrust professionals serve on tax desks working side-by-side with colleagues on similar rotations, creating a dynamic, team-based environment that fosters the development of truly integrated planning solutions whenever and wherever needed. A global team, tackling the same problem from all sides, to arrive at the best possible answers for cross-border transactions.
Let us analyze your business and assess its potential online, define creative, functional, and technical requirements – now and in the foreseeable future. GlobalTrust has developed a proven methodology for creating e-Commerce sites; Called ERS (Ecommerce Requirement Specifications), it leverages our unique blend of Internet, technology and business expertise as well as established industry best practices to provide with a customized, portable blueprint for your ecommerce success.
An e-commerce payment system facilitates the acceptance of electronic payment for online transactions. Also known as a sample of Electronic Data Interchange (EDI), e-commerce payment systems have become increasingly popular due to the widespread use of the internet-based shopping and banking.
In today’s borderless digital world, businesses and professionals of under-serviced and emerging markets are looking for a broad portfolio of reliable payment solutions to grow globally by facilitating seamless, cross-border payments.
GlobalTrust offers through the affiliated ‘International Fidelity’ exclusive Online Payment Market consultancy and empower e-commerce companies to grow their businesses by enabling them to pay and get paid as easily globally as they do locally. Corporations and marketplaces rely on our mass payout services to send and receive funds worldwide.
Millions of customers around the world prefer PayPal to shop with peace of mind and to protect eligible purchases. But especially in countries where PayPal is not directly presented merchants are in need of a specialised service partner to build a PayPal compliant structure, to implement PayPal in their e-commerce and to manage the whole process smoothly.
GlobalTrust’s affiliate ‘FIDATO L.L.C.’ is a well known International Payment Service Provider supporting merchants by all their needs and conflicts in connection with PayPal.
The fundamental reason for foreign trade is quite simple: Some nations are better at producing certain things than others. This means that they will all be economically better off if they specialize in what they do best and exchange a portion of what they produce for the goods of other nations who also specialize in what they do best.
GlobalTrust provides organizations with international business development advice and business assessment of export/import potential as well as market research and trade marketing; Effective strategies and tactics to facilitate country-specific communication skills for day-to-day international operations management.
In an era of faster product cycles, global competition and increased risk of supply chain disruption, corporate leaders need to know how to use procurement –now often called supply management– as a competitive advantage.
GlobalTrust provides global procurement resources, processes, systems, market knowledge, and volume-leveraged pricing to maximize return-on-investment.
GlobalTrust’s logistics team manages the transportation of material and equipment from fabrication facility to project site, meeting the needs of today’s globally sourced projects.
Citizens of many countries are confronted with strict visa restrictions each time they want to enter a foreign country and looking for a specialised consultant in investor programs for residence and citizenship.
GlobalTrust empowers individuals and families to become Global Citizens, presents the newest and most attractive immigration programs worldwide and offers opportunities for getting Permanent Residence in an EU or Schengen member state, and live, do business freely within Europe.
Due to political circumstances, citizens of many countries find it difficult to travel abroad and are confronted with strict visa restrictions each time they want to enter a foreign country.
For good reasons, many international business people from major countries and important persons who are active worldwide consider an alternative passport as the best life insurance money can buy.
In an unsettled, ever-changing world, acquiring a second citizenship is a wise decision and an investment for your future. Your citizenship of choice is for life, your spouse and children can be included, and there is often no need to give up your present nationality while you enjoy the benefits of a legal second passport.
Establishing a Dubai Company provide a vast array of advantages over other low-tax jurisdictions and in essence the main ones being that Dubai is a Real Country with a Real Economy, a world-class business environment and holds no negative stigmas.
Dubai boasts an extensive foreign trade network, giving the investors an extensive choice of potential global marketing outlets for a diverse portfolio of goods and services. As a city within the UAE, Dubai is also part of the world’s third-largest export and re-export center, after Hong Kong and Singapore.
‘The more I see, the more I can see the global elites are going to use Dubai as their Switzerland’ says a journalist. ‘The Globalists are clearly signaling to their elite friends to move. Dubai was set up for this purpose. The globalists would not leave themselves without a replacement wealth haven. Dubai loves secrecy. There is no pesky democracy. The Emire is foreign bank-owned and knows on which side his bread is buttered.’
‘The Index of Economic Freedom’ published by The Wall Street Journal and The Heritage Foundation, a conservative think tank which evaluates 178 countries in four broad policy areas that affect economic freedom: rule of law; limited government; regulatory efficiency; and open markets.
Bahrain ranks 18th globally and is the only country from the MENA region to feature in the Top 20. Progress in Financial, Investment and Labor freedoms have helped the Kingdom transform itself into a competitive trade and financial hub.
Bahrain was the first country in the Gulf to exploit oil commercially in the 1930s and has a track record as a modern international business economy stretching back several decades. Its liberal attitude to foreign investment has helped make it the fastest growing economy in the Arab world.
Bahrain is the only country in the region offering 100% foreign ownership of business assets and real estate in most sectors as well as free repatriation of capital. Bahrain imposes no taxes on personal income; Most companies are not subject to corporation tax.
Financial services sector has been thriving for 40 years and was recently judged the Gulf’s most sophisticated financial market. Unlike any other Gulf country, Bahrain has a fully liberalised telecommunication sector.
Low costs are another important advantage of Bahrain. Basic costs such as rents for offices and industrial land are lower than elsewhere in the region. Bahrain’s workforce is the most educated and skilled in the Gulf.
Bahrain’s ideal location, small market size and political stability is boosting confidence amongst property investors. A lot of Saudis, Qataris and Kuwaitis consider and want to make Bahrain their second home as it’s easier to predict the market here compared to Saudi Arabia where the market is huge and Dubai, where the market is overly populated.
The latest Z/Yen Global Financial Cities Index once again placed Luxembourg among the top five in Europe – behind leading global centre London, Zurich and Geneva, and ahead of Frankfurt.
Luxembourg is an attractive jurisdiction for (intra-group) financing companies, as it generally does not levy withholding tax on interest or impose a debt-to-equity ratio for financing activities, provides an attractive tax and regulatory framework for alternative investment funds which are reserved to well-informed investors, i.e. the SIF, SICAR.
The Netherlands has a vibrant IT industry and is one of the world’s largest exporters of IT services, ranking fourth behind the US, UK, and Germany. Global players in the digital space, including Microsoft, Cisco, Tata, Infosys, Huawei, Oracle, Intel, IBM, Verizon, Yahoo and Google have chosen the Netherlands for their activities.
Digital companies tap into the unparalleled technical infrastructure, the highly educated, dynamic workforce and an advantageous tax structure. Netherlands is home to their headquarters, data centers and/or distribution centers.
The Netherlands is an increasingly attractive jurisdiction for holding company entities. Dutch limited liability companies, partnerships, foundations and cooperatives offer unique advantages and benefits for international tax planning.
If you are looking to expand operations into Europe, it may be worth considering establishing your operations in the Netherlands. Netherland has concluded tax treaties with the most of the countries of economic importance.
The European Commission projects Malta’s economic performance to remain robust with a favourable macroeconomic outlook and a further decline in the budget deficit. It recognises that Malta’s economic growth in the final quarter of the year marked the highest growth rate in the last 4 years.
In 2004, Malta became a fully-fledged Member of the European Union, proof in itself that Malta was now being recognised as a serious and highly regulated jurisdiction. A Maltese Limited which undertakes trading activities is taxed at 35% on its profits and upon a distribution of dividends to its shareholders out of such profits, such shareholders are generally entitled to a refund of 6/7ths of the Malta tax, entailing that the combined effective Malta tax rate is reduced to 5%.
Malta has a deeply-entrenched maritime tradition. Today one of the largest maritime nations in terms of registered tonnage worldwide, with a fleet of over 5,000 registered vessels, the 2nd largest in Europe.
The United Kingdom is one of the most successful economies in the EU and is built on strong foundations. It is ranked as the 3rd largest economy in the world. It is the most straightforward country in Europe in which to register a company, however it’s important that you have the right advice.
UK Agency Limited structure is an interesting vehicle for international trade that provides a total UK presence whilst allowing for maximum tax-efficient profit. A UK Company is set up to act as an Agent for a low-tax jurisdiction company and charges a small percentage for the service – which allows for the rest of all profit to be paid out from UK without any taxation.
UK LLP offers the advantage of limited liability but the flow-through characteristics of a partnership for tax purposes. The structure is ‘fiscally transparent’ – meaning that the members of the Partnership (and not the Partnership itself) are taxed on any profits of the LLP.
Since the late 1990s, Estonia had a lead in tax comparisons for a number of reasons, such as a presumably simple and transparent system of taxation, zero corporate tax on reinvested profits, withholding obligations applicable to only a few types of payments. However, recent analyses are increasingly indicating that Estonia may no longer be the preferred tax environment for a rational entrepreneur. The scales are tipping towards Latvia.
Latvia levies a 15% corporate tax and zero tax on share transfers, provides a favourable tax environment for holding companies and micro-companies and offers a number of tax incentives/reliefs. Meanwhile, Estonia’s recent tax law developments are less than laudable and the country is falling behind in regional tax competition.
This is because Latvia is not the only country out to attract development-minded investors to the region. Finland is also taking steps to facilitate business, for example by slashing its corporate income tax rate from 24.5% to 20% from the beginning of 2014. Lithuania is promoting its free zones and takes care of small businesses by offering a 5% corporate income tax rate for companies with less than 10 employees and an annual turnover of less than EUR 289,000.
A U.S. Corporation can pledge its shares, which represent a mathematically precise proportion of the company, as security for loans or sell them as investment objects. Not counting branch offices, there are a total of 24,437 U.S. banks with capital in excess of 50 trillion dollars (There are less than half as many banks in all the rest of the world).
With such competition between moneylenders, it is understandable that the credit climate in the USA is significantly more favorable than anywhere else in the world. Venture capitalists control billions of dollars of investment capital.
In some US states you can remain completely anonymous as the owner of a corporation! And we can incorporate in states without compulsory capital requirement.
The world is pushing Switzerland into a financial identity crisis. Its major information-sharing deals with the likes of the U.S., U.K. .and France have left the country’s publicity-shy account holders nervous.
The reforms proposed to the corporate tax rules in Switzerland are broad and will have a profound inpact. It will abolish certain current preferential tax regimes which will be replaced with them new competitive measures which conform with international standards.
The draft of “Corporate Tax Reform III” comes as a result of long-standing criticism and pressure from various countries, including the countries comprising the EU, for Switzerland to modify if not repeal preferential tax regimes and practices currently applied in Switzerland (for example, the mixed company regime at the cantonal level, and the Swiss finance branch and principal company regime at the federal level).
A former British colony, Hong Kong reverted to the Chinese government on 1 July 1997. China converted Hong Kong into a Special Administrative Region of the People’s Republic of China retaining its current political, social, commercial and legal system for a minimum period of 50 years.
Hong Kong has one of the most open and modern economies in the world. Hong Kong is a prosperous city and a world-renowned business and service hub. Since Hong Kong is a significant trading economy, a Hong Kong company does not have an offshore or tax haven image.
Taxation in Hong Kong is based on a territorial source principle rather than on residency or management and control. Hong Kong companies only pay tax on profits sourced in Hong Kong and the rate of taxation is currently 16.5% on assessable profits. Hong Kong companies do not pay tax on profits sourced outside Hong Kong.
There are no withholding taxes on dividends paid to foreign shareholders, no withholding taxes on interest paid to foreign creditors, no taxes on capital gains, and no inheritance tax.
Macedonia attracts foreign investors not only with the low rate of corporate income tax of 10%, but also with providing a tax exemption to investors in the Macedonian Technological–Industrial Development Zones (TIDZs). The exemption, valid for a period of 10 years, applies to corporate income tax, utility taxes to the local municipality, fees for land building permits, VAT, and customs duties for equipment, goods, machines, and raw materials.
Investors in the TIDZ have access to an educated, qualified and low-cost workforce. The average monthly gross salary in Macedonia is EUR 491. It should be added that Macedonia is the youngest country in Eastern Europe (45% of population is under the age of 30). The young Macedonians are very well educated (85% of high school graduates are enrolled in university programs). Macedonia has signed a bilateral free trade agreement with Turkey.
Several European countries apply an attractive corporate tax regime but tend to neglect the personal income tax aspect. Bulgaria outcompetes other EU member states by offering the best of both worlds and offers fabulous opportunities for both companies and individuals. Bulgaria’s flat tax framework is undoubtedly exceptional from a EU perspective. Bulgaria applies a worldwide income tax system and residents are taxable on their worldwide income. Bulgarian companies are subject to a flat tax rate of 10% and the taxable profit is the annual financial result adjusted for tax purposes. Bulgaria also levies a flat personal income tax rate of 10%.
Bulgaria offers a low cost business environment including low rental prices and employees with an average net salary of EUR 327/month. Bulgaria has a very well developed Internet infrastructure which offers fabulous opportunities to outsource activities to a Bulgarian subsidiary. The EU Parent-Subsidiary Directive enables the parent company to repatriate the low-taxed profits in a tax-efficient way:
A Bulgarian company can function as a subsidiary of a non-EU parent company. As such, one achieves a minimum tax leakage in Europe (10% corporate tax and 5% withholding tax) and a tax-efficient repatriation of the profits.
The EU’s executive Commission published a blacklist of 30 countries it says are not doing enough to crack down on tax avoidance. The list ranges from Belize to Panama, European principalities like Monaco to Hong Kong and Pacific nations like Vanuatu.
The European Union blacklist is made up of countries that figure on at least 10 national lists of tax havens compiled by the 28 member nations. Luxembourg is not on it. Half the countries are from the Americas. The full list is: Anguilla, Antigua and Barbuda, Bahamas, Barbados, Belize, Bermuda, British Virgin Islands, Cayman Islands, Grenada, Montserrat, Panama, Saint-Vincent and the Grenadines, Saint Christopher and Nevis, Turks and Caicos Islands, U.S. Virgin Islands, Andorra, Guernsey, Liechtenstein, Monaco, Liberia, Mauritius, Seychelles, Brunei, Hong Kong, Maldives, Cook Islands, Nauru, Niue, Marshall Islands and Vanuatu.
Global tax experts say the EC’s blacklist shows the UK and its territories are “by far the biggest tax haven in the EU.” British Overseas Territories and Crown Dependencies make up almost 25 percent of the world’s tax havens blacklisted.
“Bearer Share” certificates do not include the name of the individual or legal entity that is the owner of the shares. Once issued, whoever holds the shares is their owner. Bearer shares are characterized by their free transferability from one person to another.
However, the issuance of this sort of shares has become increasingly stigmatized during the last fifteen years. So much progress with “know your client” rules has been made that, for example, there now are banks that do not open accounts for any company that is allowed to issue bearer shares.
Panama has agreed to adopt a custody system applicable to bearer shares. What is known as the immobilization of bearer shares takes place through this custody mechanism. Adopting such a regime continues to allow the existence of bearer shares, but their free transfer no longer exists, as such shares need to be held in the hands of a custodian, who is the one who needs to be notified about the transfer of such shares to the new owner.
Dubai is not a modest city. It is a city that thinks big and it thinks fast. This attitude, as well as a lot of construction , is exactly what has made Dubai the globally-recognised force and top tourist destination in a matter of decades. It is home to the world’s tallest building, the Burj Khalifa (more than 820 metres), and Dubai Mall, which is, for now, the world’s largest shopping mall, with over 1,200 shops.
So what will the Emirate look like in the next 10 years, five years, or even in the next six months? Here is just a selection of the major projects that are underway in the emirate right now;
Al Maktoum Intl. Airport welcomed more than 70.4 million travellers last year. But that is only the beginning, it’ll be a 56 sq km airport that can welcome 120 million passangers a year; Mall of the World will be an eight million square foot shopping complex, Dubai Canal will be a three kilometres of canal through Dubai, The Dubai Frame will make Dubai as pretty as a picture, Dubai Opera, Bluewater Islands, Taj Arabia, Deira Islands are only a part of other future projects.
So the question is can software and apps in particular be patented? Briefly put: Yes, they can be patented. For decades, the law has stated that it is not possible to patent ‘software as such’. Practice has shown however that it is sometimes indeed possible and advisable to patent software. For a software invention to be patentable, it must first and foremost have a certain ‘technical effect’. Let’s assume that a start-up has developed an app that detects the location and preferences of its users, consults a few public databases and its own crowdsourcing database, and provides potentially interesting suggestions to its users.
The question is: “What is the technical effect here?” Essentially, the app does what employees of a tourism information office do already, which is to request a number of parameters (such as “Would you like to engage in sport?” or “Are you looking for a museum?”) and make suggestions for a suitable way to spend the day. If the app only has such functionality, there is no technical effect. In principle, the app cannot be patented in this form.
Let’s assume that while running tests, the app developers discover that searching the users’ preferences is taking too long. They add the dexterity that the searching algorithm only searches those preferences that are logical based on the location and that stores the users’ preferences in such a way as to enable faster searching. In that case there is a technical effect. The app will be able to work much faster because the information to be searched is represented more efficiently, even if, functionally speaking, the app still does the same thing. In principle, the app can be patented in this form.
Nowadays opening a bank account beyond borders is getting much more difficult with more rigorous procedures and compliance requirements.
Many small and medium enterprises or new establishments cannot meet the conditions of bureaucratic large intl. banks. Local banks seem to be still open to new business, however many of the strict requirements in place in several jurisdictions are set by Central Banks and to be implemented across the sector.
UBO (Ultimate Beneficial Owners) information is key; banks require a full overview of any person holding more that 5% in the parent company or holding companies above this in the company structure and also the main UBO to sign the opening forms in person in the bank. Furthermore projected revenues and a list of suppliers and potential clients must be made available for the bank.
The Foreign Account Tax Compliance Act (FATCA) is having a negative impact on the U.S. economy, U.S. financial markets, American businesses operating abroad and American citizens who work and reside overseas.
FATCA was initially introduced to target those who evade paying U.S. taxes by hiding assets in undisclosed foreign bank accounts and requires foreign financial institutions to report to the IRS the names and assets of all clients who are U.S. persons.
The cumulative effect of this legislation will be a major blow to U.S. economic interests and prestige. At stake for the United States is the potential loss of trillions of dollars of investment, the opportunity for American companies and financial institutions to compete in a competitive global environment and the possibility for American citizens residing overseas to survive and thrive.
In brief, the economic future of the United States is at stake with FATCA.
There are many tax havens around the world. However, most of them are small and isolated islands which can quickly become boring to their residents despite the fact that such places often have a pleasant tropical climate. That is why some people who do not want to pay taxes prefer to live in floating tax havens, i.e. ships which constantly travel around the world.
Because the floating tax havens sail in international waters and stay in the national waters of individual countries for a short time (usually a couple of days), their passengers do not fall within the scope of the tax jurisdictions of the visited countries.Most countries require a person to resideon their territory for certain time in order to become a tax resident. However, the U.S. taxes its citizens no matter where they live. There are two types of floating tax havens, namely, residential ships and private yachts.
To live in a tax haven does not necessarily mean staying in a condo with a seafront view and enjoying the growth of the coconuts on the nearby palms. The life in a tax haven may be a constant travel from country to country. Whether your adventure will take place on a luxurious residential ship or on a small boat depends on how much you would like to spend.
Many consumers looking to guarantee the safety the safety of their assets are seeking opportunities to invest in offshore real estate, which is regarded as a far more lucrative, stable and safe investment option in today’s current confused economic climate. Despite being regarded as a relatively safe haven for investors (particularly in comparison with more turbulent and unpredictable investment realms), it is nevertheless fundamental that investors have a certain degree of knowledge of the real estate industry, as the market, like any other, does experience fluctuations and idiosyncrasies.
Finding a real estate investment hotspot requires in-depth knowledge and research of a particular region, along with a proactive attitude towards ones investments. If correctly conducted, having a revenue-generating property portfolio during difficult economic periods can undoubtedly ensure that investors can make a positive return on investment.
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Global Trust & Co. | International Fidelity
PO-Box 450676 DUBAI – UNITED ARAB EMIRATES
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