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What is a Trust and How Does It Work?
A trust is a legal arrangement that allows a person (the settlor) to transfer assets to another person or entity (the trustee) to manage and administer those assets for the benefit of one or more third parties (the beneficiaries). Trusts are used for a variety of purposes, including estate planning, asset protection, tax efficiency, and managing wealth across generations.
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Understanding Tax Residency: A Comprehensive Guide
Tax residency is a crucial concept for both individuals and businesses, as it determines where you are liable to pay taxes. It can be a complex issue, particularly for those who live or work in multiple countries, and it affects how much tax you pay on your global income. Understanding the intricacies of tax residency rules is important for anyone engaged in international business, employment, or investments. This article delves into the fundamental aspects of tax residency, explaining its significance, how it is determined, and the implications for taxpayers worldwide.
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History of central banking: what can we learn from it?
Why do we need central banks? Do we need them really? These questions have been around for some time but gained weight in recent decades with the advent of cryptocurrency. Nowadays a bank account is vital in a person's financial plan whether it is for savings, investment, or operations. Mundo decided to write this piece because the evolution of central banks can teach us about the logic of the financial world today. A central bank is responsible for issuing currency and regulating financial activities, for example, the granting of credits. Their goals are to maintain prices, avoid inflation, and ensure long-term growth.
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Trusts and estates: a trust instead of a will for optimal inheritance?
Trusts and estates are an interesting matter, and they must be addressed carefully. In case you haven't noticed, the heading of this article is followed by a question mark. Why is this? Can in fact, corporate trustee services replace a will? What is the difference between a will and a trust? If you have read our previous articles on trusts like the differences between trusts and foundations, you probably know that corporate trustee services have many uses. Considering that the basis of a trust lies in separating ownership we can infer the structure's implications, characteristics, and advantages.
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The basics of tax: Frequently Asked Questions Volume I
In the nomad capitalist world, taxes are an important matter. In fact, they are to be taken seriously by everyone, but the implications of international structures take the situation to whole new levels of complexity. What is the federal tax rate in my country? What is employment tax? What is taxable income and what are the deductions? With these Frequently Asked Questions, we want to go back to the basics of taxation. At the end of the day, you can’t design an elaborate plan without knowing your basics. What is federal income tax? You’ve probably heard these words many times. They describe those taxes that are due at a federal level.
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Corporate essentials: four pillars of a strong global business or how to run a company
Coming back to the corporate essentials is important especially when establishing a structure is one of the goals in a business plan. Running a company or how to run a successful business depends on certain considerations that should be labeled as fundamentals. There are many advantages to having a company abroad. Mainly these entail the possibility to access a wider spectrum of currencies, investments, and incentives. Nevertheless, running a company raises challenges and this is why Mundo decided to present the four pillars of corporate essentials. In other words, this is what we recommend you consider before choosing the jurisdiction and structure.
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New prices in the Caribbean: changes in the five CBI countries after the MoA
Understanding the dynamics of the migration world can be challenging, especially when it comes to citizenship by investment. If you're looking for a safe island destination as your second citizenship the options are limited to a handful of regions like the Caribbean and Vanuatu. In this case, it might be a good idea to take a look at Caribbean prices and the new requirements set forth after the MOA. At Mundo, we’ve discussed the memorandum of agreement concerning the five eastern Caribbean CBI countries. Give or take, the five countries eventually signed and committed to implementing changes in favor of strengthened cooperation.
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Benefits of investing in gold: why still choose it in 2024
What comes to mind when we think about investments? Real estate, stocks and bonds, commodities, and cryptocurrency probably ring a few bells. Moreover, there's a type of investment that has been around for decades and is a symbol of wealth, security, and value. We are talking about the benefits of gold. Throughout history, to purchase gold was always seen as a plus. Historically, gold has been considered to be a guarantee of value and safety because it was supposed to be accepted anywhere. Having it would help open doors in case of war, persecution, or exile. Another significant advantage you get when you purchase gold is durability.
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Divide and conquer: how you can protect your inheritance with a Nevis trust
We are an online magazine dedicated to the concept of financial freedom. Through our articles and information, we act as a link between the nomad capitalist and a variety of specific services. Each tool has its function. Companies are for generating money, banks are for operations, savings, and investment, real estate is a powerful sector in your portfolio, and second citizenship or residency is an outstanding possibility to enhance all these approaches. But what about trust services? Through a trust, financial safety can be achieved. Today we come back to one of our favorite topics analyzing why trust services are convenient.
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Where do taxes come from? Brief history of taxation and how it shaped our finances and our lives
What would you say if we asked you to name one concept that is common to all times, countries, and cultures? When we go a little deeper into our society’s essence there are very few aspects that we can pinpoint as common denominators defining people's lives in the modern world, in Roman times, or in ancient Egypt. Probably the word that we will write next is the one that you least expected: tax. Whether we like it or not, it’s something that everyone accepts naturally, and this makes sense since taxes have been ingrained in society since the very beginning.
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$170,000
$2,500,000
$350,000
$1,400,000
$395,000
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