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  • Management office and SubstanceDatum07.03.2024 21:21
    Thema von PetersGrant im Forum Dies ist ein Forum in...

    Substance matters are becoming tougher within Europe and worldwide for tax purposes, therefore, some clients may prefer to have more physical presence in the place of practicing thanvirtual office services. One of the possible strategies to increase substance – is to establish a functional management office. Substance issues usually arise when local tax authorities require confirmation that the business of the company takes place in the country where the company is registered: they want to see actual presence of commercial activity in stated jurisdiction.

    A Company with substance is a company abroad that resembles a classical 'offshore' company, but has so called 'substance' (presence), meaning it has local staff that is on salary, a local physical office and has real local expenditures of running a business, in other words – a management office. It resembles more an actual local company but has ties to onshore business.

    For more and more businessmen the economic substance of their company is becoming an overwhelming exercise. Creating economic substance has become quite a hazard, as tax authorities, banks and governmental institutions are looking deeper and deeper into the two main questions: 'What is the actual place of management and control of the company?' and 'Who is the Beneficial Owner?'

    Confidus Solutions can provide the substance office in various jurisdictions worldwide, including numerous famous offshore jurisdictions. However, considering the level of complexity and efficiency of providing substance, we would highly recommend considering the following jurisdictions as top choices: Latvia, Cyprus, Lithuania and Hungary - as in those states we can offer more advanced services, rather than purely Virtual Office, as well as more solid grounds to believe that the Company operates in the specific location. The question of Company’s actual place of management and control has lately become crucial not only for tax authorities, but as well for business partners, suppliers, banks and adversaries due to implementation of intergovernmental tax legislation and rapid development of international and online trade.

    Top choices:

    Management Office in Cyprus
    Management Office in Latvia
    Management Office in Bulgaria

  • Demographics of LesothoDatum06.07.2023 09:31
    Thema von PetersGrant im Forum Dies ist ein Forum in...

    The total population of Lesotho is 2,263,010 people. The people of Lesotho speak Southern Sotho and English. The linguistic diversity of Lesotho is diverse according to a fractionation scale, which stands at 0.2543 for Lesotho. The average age is around 23.6 years. Life expectancy in Lesotho is 50 years. The female fertility rate in Lesotho is 3.3. About 15% of Lesotho's population is obese. Ethnic diversity is diverse according to a fractionation scale, which stands at 0.255 for Lesotho. Details of the language, religion, age, gender distribution and advancement of the people of Lesotho can be found in the sections below, as well as the section on education in the country.

    Population
    In Lesotho, the population density is 68 people per square kilometer (177 per sq mi). Based on these statistics, this country is considered sparsely populated. The total population of Lesotho is 2,263,010 people. Lesotho has approximately 3,095 foreign immigrants. Immigrants in Lesotho account for 0.1 percent of the total number of immigrants worldwide. Immigrants in Lesotho account for 0.1 percent of the total number of immigrants worldwide. Ethnic diversity Lesotho is diverse according to a fractionation scale based on ethnicity. Ethnic fractionation (EF) is concerned with the number, size, socioeconomic distribution, and geographic location of different cultural groups, usually within a state or other defined area. Specific cultural characteristics can refer to language, skin color, religion, ethnicity, customs and traditions, history, or other distinctive criteria, alone or in combination. These characteristics are often used for social exclusion and power monopolization. The index of ethnic fractionation in Lesotho is 0.255. This means that there is some diversity in Lesotho, although all people can still be divided into a relatively small number of major ethnic groups. EF is usually measured as 1 minus the Herfindahl concentration index of ethnolinguistic group proportions, which reflects the probability that two randomly selected individuals from the population belong to different groups. The theoretical maximum of EF of 1 means that each person belongs to a different group. Below are statistics for Lesotho on average age and gender distribution at different ages.

    Old
    The average age is around 23.6 years. The average age of men is 23.6 years, while the average age of women is 23.6 years.

    Gender
    The sex ratio, or number of males per female (estimated at birth), is 1.03. It can be further broken down into the following categories: sex ratio under 15 – 1.01; sex ratio from 15 to 64 - 0.96; sex ratio over 64 - 0.66; Overall sex ratio - 0.96. The overall sex ratio differs from the sex ratio estimated at birth. This is because some newborns are included in the estimated sex ratio at birth, but die within the first few weeks of life and are not included in the overall sex ratio.

    Religion
    The majority religion of Lesotho is Christianity, whose adherents make up 96.8% of all believers in the country. Christianity is an Abrahamic monotheistic religion based on the life and teachings of Jesus Christ as set forth in the New Testament. Christianity is the largest religion in the world with over 2.4 billion followers known as Christians. Christians believe that Jesus is the Son of God and the Savior of mankind, whose coming as Christ or Messiah was prophesied in the Old Testament. Religious diversity Lesotho is quite diverse according to a fractionation scale based on the number of religions in Lesotho. The index of religious fractionalization in Lesotho is 0.7211. This value means that there are several major religions in Lesotho, evenly distributed.

  • Banks in FinlandDatum10.03.2023 18:29
    Thema von PetersGrant im Forum Dies ist ein Forum in...

    Confidus Solutions list of banks in Finland contains 5 banks.

    You have several options for bank account opening in each one of the banks listed below.

    Select a bank
    Aktia Bank
    Nordea Finance Finland
    S Bank
    OP Mortgage Bank
    Municipality

  • Infrastructure of FinlandDatum07.01.2023 16:56
    Thema von PetersGrant im Forum Dies ist ein Forum in...

    The logistic performance index of Finland is 3.62. It indicates satisfactory performance - in general, traffic is handled well, some shortcomings in certain areas are possible, but overall the logistics system is reliable and ready to handle predictable traffic volumes.

    Inch performance is rated at 3.89. This indicates good performance - customs clearance is fast and effective, in some cases it may not exist at all (e.g. at the borders of the Schengen area), which encourages international business activity; The required documents and fees are predictable and publicly available and in some cases (mainly related to visas) can be arranged at the customs office.

    Infrastructure quality in Finland is rated at 3.52. It indicates satisfactory quality - roads, railways, ports and other facilities are capable of handling significant traffic at all times, and are also suitable for various types of transport vehicles and ships.

    International shipping quality is 3.52. It indicates satisfactory performance - the services are reasonable and the prices are not too high and usually correspond exactly to the quality, although there is still room for improvement.

    The competence of logistics service providers is rated at 3.72. The providers are competent - they ensure a good quality of their services and almost always maintain this level; Deficiencies, while still possible, are usually minor and do not discourage further use by providers.

    Tracking options are rated 3.31. It indicates satisfactory performance - the tracking systems provide all the basic information, as well as additional data about shipments; Mostly it also has a well-established cooperation with foreign and international tracking systems and usually offers information in several languages.

    Tracking options for shipments are rated at 3.8. This indicates good performance - shipments almost always arrive within scheduled time frames and often faster than expected.

    In Finland, 100% of the population has access to electricity. Finland has 148 airports nationwide. There are 4,763,000 internet hosts in Finland. The number of road motor vehicles per 1000 inhabitants in Finland is 578.

    Road network
    Total road length in Finland is 454,000 km (282,163 miles). Of these, 863 km (536 miles) of roads are classified as freeways, dual carriageways, or freeways.

    Gas price
    On average, one liter of petrol costs USD 1.89 in Finland. A liter of diesel would cost $1.33.

  • South American companiesDatum06.12.2022 20:24
    Thema von PetersGrant im Forum Dies ist ein Forum in...

    Before opening a company, you must have a clear picture of all the advantages and disadvantages of every option in South America and the nearby islands such as Aruba, Bonaire, Curacao and Trinidad and Tobago. Please bear in mind: if you need to incorporate a company in Brazil, make sure you contact us first. There are fundamental differences between private (fundação privada) and public (fundação pública) entities in Brazil.

  • Corporate bank accountsDatum09.10.2022 12:58
    Thema von PetersGrant im Forum Dies ist ein Forum in...

    Opening a corporate account
    In order to distinguish a company account from other types of business accounts, it makes sense to take a look at the requirements for opening a company account. The main feature of a corporate bank account is that it can only be opened by a decision of the board of directors. In contrast, a regular commercial bank account can be opened by an owner or other non-voting person as long as that person is authorized to sign the paperwork. Typically, a corporate bank account is opened by the Treasurer of the Board of Directors upon the submission of a corporate resolution authorizing him or her to perform this duty.

    Required documents for opening a corporate bank account
    Opening a corporate bank account is straightforward and relatively easy; However, you must take into account all of the bank's specifications and required documents, which can vary significantly from country to country. However, there are a number of documents that are an essential part of the process of opening a corporate bank account that are undoubtedly required regardless of the bank. These are the most commonly required documents:

    Completed corporate account application form signed by the authorized signatories as determined by the Board of Directors
    Excerpt from the board resolution approving the opening of the company bank account
    Documents confirming the authority to open and maintain the company's bank account - e.g. Executive Board resolution, power of attorney, extract from the commercial register, etc.
    An original or a certified copy of the company's incorporation documents, ie. H. the memorandum of association, the articles of incorporation and the articles of incorporation
    Identification documents for the company's directors, principal shareholders and authorized signatories - this list may be extended to include the beneficial owners of company shares
    Sample signatures of the authorized signatories
    Additional documents may be required depending on country and government regulations related to risk factors and compliance requirements. These may include a director's statement containing personal information about directors and principal shareholders (a person authorized to exercise 10% or more of the voting rights of the shareholders), a business plan or audited financial statements as proof of business, a certified copy of an organizational chart showing each shareholder's ownership percentage and details of ultimate beneficial owners for nominee shareholders.

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