Team Immense Business

Thanks largely to the Bahamas’ convenient location and commitment to tax neutrality, it has become a recognized and respected offshore financial center. The stable political and financial environment provides security, while confidentiality of banker-client relations is strictly adhered to and enforced by law. Due to the expansive growth of the Bahamas as a major financial center, there are a variety of Bahamas financial services available to suit a variety of investment needs. If you are looking for offshore asset protection or tax relief, the Bahamas offers several options that may work for you.

One of the most attractive aspects of doing business in the Bahamas is the freedom from taxes on income, capital gains, profits, gifts, inheritance, and estates. There is no withholding tax on dividends, interest, or royalties, and there are no payroll taxes. In addition to the financial benefits, there is a wide selection of highly trained professionals available to assist you, such as lawyers and accountants.

Bahamas financial services include banking, private banking, trust services, investment fund administration, capital markets, investment advisory services, e-commerce, insurance, corporation formation, and shipping registries.

The Bahamian Trust

When established, a Bahamian trust must be designated as “resident” or “non-resident.” Bahamian law allows for the establishment of three types of trusts:

1. Standard Trust

An asset protection trust that can be either revocable or non-revocable.

2. Testamentary Trust

A trust which is activated upon the death of the Settlor, transferring assets to the estate.

3. Charity Trust

To qualify, beneficiaries have to be genuine charities. There is no perpetuity period.

When establishing a Bahamian trust, the attorney must know who the trustees will be, how and when beneficiaries will receive assets from the trust, if there will be a protector, and what the protector’s powers will be.

The trustee’s powers must be stated in the document, and the Settlor is allowed to expressly recognize Bahamian law as the governing law of the trust. If the document does not stipulate a fee to be paid the trustee, then the trustee cannot take compensation. If the trustee is given a fee, it can be either a flat fee or a percentage of the trust assets.

As a Bahamian trust is deemed a private agreement, registration with a government agency is not a requirement. Therefore, no business license fees, filing fees, or registered office fees are payable.

Corporations

In order to incorporate in the Bahamas, the company must file a Memorandum of Association with the Registrar General. Articles of Association may be filed at the same time or up to six months from the date the Memorandum of Association is filed. Other requirements for incorporation include:

• The Memorandum of Association must be signed by at least two subscribers, in the presence of at least one witness.

• Each subscriber must subscribe for at least one share

• A non-resident subscriber is required in order to obtain exchange control permission.

• A declaration signed by subscriber’s counsel must be submitted with the Memorandum of Association, describing the capacity of the incorporating subscribers.

Only two subscribers are needed to incorporate, and meetings may be held outside of the Bahamas.

A private company must be managed by two directors, and a public company must be managed by three directors. Directors shall submit financial statements and the report of the auditor to the annual general meeting.

Every business must have a license to operate in the Bahamas. Fees are normally based on a percentage of annual gross receipts.

International Business Companies

International Business Companies are formed for a variety of reasons, including formation of mutual funds, ship registration, conducting import/export operations, and such.

IBC’s re exempt from all business license fees and do not require a license under the Business License Act. Shareholders are exempt from all income taxes, capital gains taxes, and corporate taxes.

No public records are maintained, ensuring the privacy of shareholders and directors.

An IBC is a company that does not carry on business with residents of The Bahamas, does not own a real estate interest or lease property other than office space in The Bahamas, does not participate in banking, trust, or insurance businesses, and does not provide a registered office for companies.

An IBC is allowed to conduct foreign exchange business without exchange control restrictions, and licensing fees and service charges are low.

This is just a brief overview of some of the Bahamas’ financial services and does not necessarily include all requirements or powers allowed under Bahamian law.

Most of us would like to spend more time at home with family and earn extra money, a home party business may be the answer. There are many benefits in choosing a home party business. One benefit is low start up cost. Start up cost can range from $10 and up, pretty cheap when starting your own business. It is also a fast option, your business starts almost right away, most times you just pre-book your parties, buy your kit and your in business.. Another great benefit is the brochures / catalogs and sometimes even websites are done for you already. And don’t forget tax deductions.

A home party business involves direct selling. Direct selling is selling directly to the consumer by independent salespeople. Depending on the company you work with, selling can be done through parties, individual sale or both. Even though you are working with a company, you are an independent consultant, you are in business for yourself. You are your own boss, you set your hours and you can work part time or full time.

The potential to make money can be great. It is up to you. The more you sell, the more you make. You make money through commission on the products you sell. With some companies you get paid right away, when you sell a product. This happens when you buy the product at a discount and sell the product for full price, you keep the difference. The other way to get paid is after you place an order, you will receive a check. A lot of companies offer team building bonus. As an independent consultant, you can recruit others to join your team. As your recruits sell products, you can earn commission on the sales.

Check out great consultant opportunities at http://workathomemoms.theshoppingparent.com

Have you noticed how much you hear the “R” word lately? There certainly isn’t a shortage of news reports on negative financial news out there. As the threat of an U.S. recession continues to grow, you need to ask yourself a question:

“Would you struggle through an economical recession or would you thrive in it?”

There are several products and services that do well in recessionary times. Even as people cut back on expenses and frivolous items, there will still be some products and services that will do well in recessionary times. In fact some will actually thrive in a recession.

- Online Businesses

Online businesses are simple and inexpensive to start up and can be very profitable if done right. It is estimated that U.S. online spending will increase 17% in 2008. This double digit growth is expected to continue for many years as consumers become increasingly comfortable purchasing online and enjoy the conveniences and cost savings of not driving to the mall. Almost every aspect of starting an online business can be outsourced and with almost no overhead, profits tend to be much higher then a high risk retail store.

- Credit and Debt Management

As more American’s lose their jobs to downsizing and lose their homes to foreclosures, credit ratings and debt levels are directly affected. Marketing these services is ideal but doing the actual credit repair or debt collections/negotiations can be rather difficult. By finding the right business model within these industries you can have a product in high demand.

- Healthcare

Despite a lagging economy, people will continue to need healthcare. As the baby boomer generation continues to age, so does the need for services in this industry. By finding a profitable niche in this industry you are assured to see increased demand over the next 30 years.

There are many opportunities for entrepreneurs during a recession and we have just touched upon what to look for. The secret to your success is “finding the right business model” to explore.

You could just as easily start a new business in any of the 3 above categories and be dragged down by a business that requires all of your time, doesn’t have the profit margins needed or has high start up costs & high risks.

Don’t make the mistake of starting a flawed business. Play particular attention to the type of business model you get into when looking at the above 3 industries.