Set up a company with Confidus Solutions in any North American jurisdiction, and we will provide you with our highly valued expertise. Earth's fourth most populous continent, and the third-largest by surface area, North America consists of 23 sovereign countries, several partially recognised countries and 22 dependencies.
Legal structure and advice There always is a chance that a business will require a legal structure based in North America. Whatever your aims may be — privacy, tax planning, holding — Confidus Solutions will help you incorporate a company. Most commonly, businesses wishing to incorporate in North America are involved in the petroleum, iron, nickel, zinc, copper, gold, lead, molybdenum or uranium mining industries, or, very often, in finance. Nonetheless, companies in any industry might wish to take advantage of our company formation services, including those with commercial activities in forestry or fisheries.
Before registering a company, you must have a good knowledge and understanding of the advantages and disadvantages of each of the numerous options in North America and nearby islands such as Anguilla, Antigua and Barbuda, Aruba, the Bahamas, Barbados, Bermuda, the British Virgin Islands, the Cayman Islands, Cuba, Dominica, the Dominican Republic, Grenada, Guadeloupe, Haiti, Jamaica, Martinique, Montserrat, Aruba, Bonaire, Curacao, Saba, Sint Eustatius, Sint Maarten, Puerto Rico, Saint Kitts and Nevis, Saint Lucia and Saint Vincent. This will help you make a decision as to where you wish to establish your company.
The minimum monthly wage in Seychelles is 304 USD. With regard to consumer prices, the inflation rate in Seychelles is 4.3%. The currency of Seychelles is Seychellois rupee. The plural form of the word Seychellois rupee is rupees. The symbol used for this currency is ₨, and it is abbreviated as SCR. The Seychellois rupee is divided into cent; there are 100 in one rupee. Each year, consumers spend around $530 million. The ratio of consumer spending to GDP in Seychelles is 0.04%, and the ratio of consumer spending to the world consumer market is 0.15%. The corporate tax in Seychelles is set at 25%. VAT in Seychelles is 15%. In 2013, Seychelles received 35.3 million USD in foreign aid.In 2014, the foreign aid amounted to 22.1 USD.
Gross Domestic Product The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Seychelles is $2,424 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Seychelles was last recorded at $25,452,827. PPP in Seychelles is considered to be very good when compared to other countries. Very good PPP indicates that citizens in this country find it easy to purchase local goods. Local goods can include food, shleter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with very good PPP are safe locations for investments. The total Gross Domestic Product (GDP) in Seychelles is 1,445 billion. Based on this statistic, Seychelles is considered to have a small economy. Countries with small economies generally support less industries and opportunities for investment. However, worthwhile investment opportunities may be found. The Gross Domestic Product (GDP) per capita in Seychelles was last recorded at $15,172,993. The average citizen in Seychelles has very high wealth. Countries with very high wealth per capita have an extended life expectancy and very high standard of living. Highly skilled workers can be found in many industries, and labor is very expensive in these countries. Countries with very high wealth offer opportunities for safe investments, as they are often supported by a diverse and thriving financial sector. GDP Annual Growth Rate in Seychelles averaged 3.7% in 2014. According to this percentage, Seychelles is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly.
Iceland is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developed nation, Iceland is able to provide its citizens with social services like public education, healthcare, and law enforcement. Citizens of developed nations enjoy a high standard of living and longer life expectancies than citizens of developing nations. Each year, Iceland exports around $5.2 billion and imports roughly $4.53 billion. 2.9% of population in the country are unemployed. The total number of unemployed people in Iceland is 9,796. In Iceland, 8% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Iceland is low, indicating that it has a stable economy. Investors should consider Iceland to be a safe location for investments and other financial ventures. Government expenditure on education is 7.4% of GDP. The Gini Index of the country is 28. Iceland is experiencing high equality. Differences in income among citizens are only mildly significant. Iceland has a Human Development Index (HDI) of 0.895. Iceland has a very high HDI score. This indicates that nearly all citizens are able to attain a desirable life because of social and economic support; citizens with a low standard of living receive aid and support and have the opportunity to advance in society. The Global Peace Index (GPI) for Iceland is 1.148. Due to strong law enforcement presence and high social responsibility, Iceland is very safe by international standards. The strength of legal rights index for Iceland is 5. Overall, it is considered to be rather inadequate - bancrupcy and collateral laws are able to protect the rights of borrowers and lenders to some degree; credit information may be sufficient, but hardly available, or, the oppoiste case, available but not sufficient.
Currency The currency of Iceland is Icelandic krona. The plural form of the word Icelandic krona is kronur. The symbol used for this currency is kr, and it is abbreviated as ISK. The Icelandic krona is divided into Eyrir; there are 100 in one krona.
Credit rating The depth of credit information index for Iceland is 7, which means that information is mostly sufficient and quite detailed; accessibility is not a problem. According to the S&P credit-rating agency, Iceland has a credit rating score of BBB, and the prospects of this rating are stable. According to the Fitch credit-rating agency, Iceland has a credit rating score of BBB+, and the prospects of this rating are stable. According to the Moody's credit-rating agency, Iceland has a credit rating score of Baa3, and the prospects of this rating are negative.
Central bank In Iceland, the institution that manages the state's currency, money supply, and interest rates is called Central Bank of Iceland. Locally, the central bank of Iceland is called Seðlabanki Íslands. The average deposit interest rate offered by local banks in Iceland is 4.85%.
Public debt Iceland has a government debt of 41% of the country's Gross Domestic Product (GDP), as assessed in 2012.
Tax information The corporate tax in Iceland is set at 20%. Personal income tax ranges from 37.3% to 46%, depending on your specific situation and income level. VAT in Iceland is 24%.
Finances The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Iceland is $14338 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Iceland was last recorded at $42 million. PPP in Iceland is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Iceland is 15,330 billion. Based on this statistic, Iceland is considered to have a medium economy. Countries with medium economies support an average number of industries and opportunities for investment. It should not be too difficult to find worthwhile investment opportunities in medium economies. The Gross Domestic Product (GDP) per capita in Iceland was last recorded at $45 million. The average citizen in Iceland has low wealth. Countries with low wealth per capita often have slightly lower life expectancies and lower quality of living among citizens. It can be difficult to find highly skilled workers in countries with low wealth, as it is occasionally difficult for citizens to obtain the requisite education needed for specialized industries. Labor can be found for low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Iceland averaged 2.9% in 2014. According to this percentage, Iceland is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly. To read more about financial information click on finances of Iceland.
A Canadian Limited Partnership is one of the customized business solutions that Confidus Solutions offers. The Canadian LP company is a flexible legal instrument used in a number of classic corporate structures. One of the most efficient ways to use Canadian LP is to create a commercial entity structure that would allow for tax and cost minimization without being considered an offsopre jurisdiction.
Limited partnerships in general The popularity of limited partnerships is easy to understand in today’s business environment. In many jurisdictions, limited partnership structures are designed to be tax transparent. The personally liable partner is responsible for the management of the company and is the only partner with unlimited liability. The liability of each limited partner is limited to his contribution and any profit not drawn. Partnerships can be formed by verbal or written agreement, with written agreements always being preferable.
The most popular jurisdictions for forming limited partnerships are Scotland (under the Limited Partnership Act 1907) and Canada (under the Partnership Act of the country’s respective provinces: Alberta, British Columbia, New Brunswick, Ontario and Saskatchewan).
The Canadian LP as a trading solution Both Scottish and Canadian LPs are commonly used for intermediate sales. Both have pros and cons that need to be considered individually for each type of business.
Theoretically, Scottish LPs can be registered for VAT and treated in the same way as any EU company for VAT purposes. However, Scottish limited partnerships are typically designed for carrying out activities outside the UK. Moreover, if they have partners who are domiciled offshore, such structures are unlikely to receive a UK VAT number.
On the other hand, as Canada is located outside the EU, Canadian LPs can basically bypass the question of VAT registration.
Tax-transparent entities in Scotland and Canada presume that no business activities are carried out in the UK or Canada respectively. Therefore, a Scottish LP cannot enter into an agreement with another UK-registered entity. At a time when Scottish and UK structures are clearly being overused, a Canadian LP offers a fresh alternative for business owners. Sales agreements between Canadian LPs and UK entities are permitted; however, we should stress again that tax-transparent Canadian LPs cannot sign contracts with other Canadian companies.
Other differences to consider between Scottish and Canadian LPs:
Legally, the Scottish LP is a distinct legal entity, separate from all its members (by definition, those who have entered into a partnership are a firm). The Limited Partnership Act 1907 states this fact very clearly. On the other hand, the Canadian Partnerships Act for the relevant province must be reviewed thoroughly to check the legal personality status of your Canadian LP. Scottish LPs are generally easier to set up, less time consuming and more flexible in terms of incorporation and administration. As your business will most likely involve international agreements, customs and banks in different countries, remember that Canada is not a signatory to the Hague Convention, also known as the Apostille Convention. This means that you might need to go through inconvenient procedures involving notarial acts and have public documents legalised by the Canadian Ministry of Foreign Affairs and subsequently by the consulate of the receiving jurisdiction. Note that neither Scottish nor Canadian LPs formed of non-resident partners can obtain a certificate of tax residence or benefit under any double taxation agreement.
At the business incorporation and company incorporation stage, it is necessary to determine whether a license is required. When providing financial services such as B. banking, a license is usually required as the strict rules of EU law apply. The same applies to other money services in money transfers, financial institutions, insurance companies and insurance brokers, trading in bonds and securities, trading in jewelery and gambling. In some jurisdictions, chartered accountants, lawyers, notaries and bailiffs require a license. Building work on the site requires the purchase of a permit. Another type of sales tax should be applied if some jurisdictions require a seller's license and additional registration in the tax register, VAT payer register or the purchase of a tax exemption certificate.
Depending on the nature of the products, the licenses and permits may be required for different areas, for example for alcohol trade you may need a wholesale or retail license or a license for strong alcoholic beverages and beer. If the company conducts business related to the sale of excise products such as coffee, oil, tobacco or storage services for the above products, these activities require the acquisition of a license.
Pharmaceutics, drug manufacturing and activities related to narcotic drugs and psychotropic substances also require a special permit, which usually includes several criteria to be met, as the activities are directly related to human health care.
Commercial activities involving explosives, pyrotechnics and other explosive substances as well as all types of firearms and ammunition and other substances necessary for military purposes are strictly regulated and require a permit in order to be able to handle them. If the company provides transportation-related services such as freight or passenger transportation by air, rail, ship, or highway, a transportation license is required in most cases.
Postal and mobile services, social services, employment agencies, security companies, private investigators - all of these require a license. Activities that affect the environment such as geology, oil production, activities that may cause pollution, refuse and waste disposal and recycling, activities involving chemical substances and radioactive substances – also require a permit.
Hotels, hostels, guesthouses and other places relevant to tourism, as well as tourism operators and tourism agencies, require a permit.
Wood recycling, cultivation and cutting, surveying services - subject to approval. Hunting and hunting-like activities require a license. The same applies to anglers. The production and distribution of strategic resources such as gas, electricity and water require permits. In each jurisdiction, the list of commercial activities subject to licensing may be different.
Confidus Solutions not only deals with offshore companies and banks, but also offers all relevant business services that your company may need. Our professional team of lawyers and accountants will handle your routine corporate paperwork with ease. We can ensure all the support needed, including the legal framework and personal support, and these are things that give our customers the comfort they really deserve.
Our corporate services include following offers, but are not limited to:
AML solutions; Company dissolution; Insolvency and bankruptcy procedures; Drafting corporate documents; Acquisition of licenses and permissions; Nominee services; Asset protection and planning. We highly value needs of our clients, so we can offer you more services on case-to-case basis. Even though our central office is located in Europe – our numerous co-operation partners around the globe can help us find unique solution in any part of the world!
Buy, register or acquire a new or finished company with the help of Confidus Solutions. We provide full business and legal support when starting a new business or purchasing a finished business. Our areas of expertise include commercial law, mergers and acquisitions, contract law, tort law, intellectual property law, tax law, accounting and other business-related services. For more than 10 years, Confidus Solutions has brought together business and legal experts dealing with acquisitions and company registration in more than 150 countries.
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Thu Nov 21, 2024 10:12 pm
