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The Effect of Longevity on Estate Planning

As a result of many positive developments in the field of medical sciences we now live longer. However, this new reality is frequently overlooked when drafting wills, creating trusts, setting up private foundation, and other aspects of planning the family estate. With wealth owners living...

Hope for the Best but Plan for the Worst

During our life-time, most of us tend to work hard and make sacrifices to accumulate assets and some degree of wealth that we hope will serve to the benefit and well-being of our family. However, in many cases, despite all these best intentions, upon the demise of the owner of that wealth, the...

Political Risk

It is common wisdom that doing business and investments involves risk and prudent investors and business owners analyze the level of risk before deciding on an investment. But more often than not, we see that both investors and advisers limit their risk analysis to economic and financial risk....

A Solid Jurisdiction with a Proven Track Record

When we look back, it seems clear that Curaçao is one of the few international financial centers that has always taken advantage of the latest developments and provided solid solutions for the international financial needs of the moment. As with any financial service or product, certain...

Lower the Pain of Selling Your Family Business

In many articles about baby-boomers, the attention and emphasis is placed on succession (planning), that is, the transition of the family business to the next generation.

But what if the current owners want or need to sell the business due to circumstances such as:
- The business...

Selling To Boomer Seniors

In our newsletter of August 2011 (http://www.sadekya.com/publication_detail.php?id=24) we highlighted the issue that the world should be preparing for the fact that a large segment of the world population—those born shortly after the second world war—have or will be reaching retirement age...

Bitcoin: The crypto saver?

The virtual currency bitcoin is gradually taking over the role of gold as a capital conservation tool. Bitcoin is a decentralized, digital currency that is transferred person-to-person, business-to-person or business-to-business, without going through a bank clearinghouse, as must be done with...

The Importance of Investment Protection Treaty

The renewing of relations between the United States and Cuba will present investment opportunities in the largest Caribbean island nation that were not available for over half a century. This developments reminds us that when planning to structure investments abroad anywhere in the world, it is...

Taxation and Ethics

The Panama Papers is the most recent evidence that we are living in highly transparent world. With the increasing level of transparency forced upon them by “moral hackers” and whistleblowers, it is important for both companies and individuals to realize that all business actions may at some...

De-risking: A Really Serious Threat

Not so long ago, the US Treasury's Financial Crimes Enforcement Network (FinCEN) and the New York State Department of Finance imposed large penalties or sanctions on some banks for infractions connected with the recent financial crisis, money laundering irregularities, and violations of...

Cryptocurrency

A cryptocurrency is a digital currency, also referred to as alternative currency, which relies on cryptography. Cryptography is the science of converting information from a readable state to an apparently meaningless one.The originator of an encrypted message shares the decoding technique needed...

Emotional Ownership

A commonly accepted conventional wisdom in business is that emotions and business should be kept apart. However, results of management research studies conducted over the last decade indicate that, under certain circumstances, a lack of emotions can lead to business failure. The research...

The Dutch Sandwich—Now Even Healthier!

The three ingredients for a company to create a “Dutch Sandwich” are a foreign company as the bottom slice of bread, a Dutch company as the filling in the middle, and a Curaçaoan parent company as the top slice. When a Dutch company is interposed between a foreign company and a Curaçaoan...

Succession in a Family-Owned Business: It’s Not Just a Financial Issue

When the next generation takes over a family business, the decision-making process becomes far more important than the decisions that are made. Due to embedded family dynamics and emotions, the core issue of succession in a family business is almost never what the decision is but rather the...

Private Foundation—the Superb Planning Tool

The use of private foundations in international wealth planning is becoming widespread as never before, especially amongst families and investors from Asia and Latin America. For over 800 years, the concept of a trust, another substitute for a private foundation, has been established and widely...

How To Make Succession Painless

The recent news that Rupert Murdoch, the CEO of 21st Century Fox, is stepping down and handing over the reins of his media empire to his two sons, Lachlan and James, illustrates the issues that will inevitably arise when the older generation is succeeded by the younger. In the case of Murdoch,...

Base Erosion and Profit Shifting

International tax planning is the art of using all means that are legally available to structure your affairs in such a way that you pay less tax. As a result of effective tax planning, increasingly there is segregation between the country/region where actual business activities take place and...

Uncle Sam’s Secret Weapon

Not so long ago the term “global trade” was used to describe the economic activities between multinational companies. Nowadays the term also applies to the activity of individuals, known as “day traders,” using one of the many on-line trade portals from the comfort of their home. Those...

So You Hit the Jackpot. Now what?

More often than not a story about the gain of sudden wealth has an unhappy ending. But why is it that, despite knowing the stories of those large inheritances, huge athletic contracts and signing bonuses, and enormous lottery wins that were gained and lost, of the people who failed to properly...

The Desirability of US Citizenship is Shrinking

More and More Americans are Renouncing their US Citizenship

We are familiar with the saying, “The dollar isn't what it used to be”, but it is surprising to hear more and more people making a similar statement in reference to their American passport.

As an indication of this,...

Private Foundations: The latest trend in Latin America

The use of Private Foundations in international wealth planning is becoming as widespread as ever before, especially amongst families and investors from Latin America.

For over 800 years the concept of Trust is established and widely used in England and other common law based countries...

Estate Planning with Life Insurance

By using a Life Insurance Policy, one can create an effective and flexible estate planning tool.

With the aging of the world population, many are starting to think about how best to manage the succession to the next generation. Others have surpassed the hurdle and are discussing Estate...

Tax Avoidance, 1; Tax Evasion, 0

As the American judge, Learned Hand (1872–1961), once stated; “No one owes any public duty to pay more tax than what the law demands”.

But on the other hand, many people who are in a financial position to do so spend considerable amounts of money to avoid paying much larger...

The Curacao PCC: An Ideal Planning Tool

Curacao hits the target again with the newly introduced Protected Cell Company (PCC), an ideal corporate formation to reduce risk and restructure the control of assets. The Curacao Protected Cell Company (PCC) is a company, within which you can create one or more cells, and whereby each cell...

FATCA: Soon the US will start reporting

If you have a personal Bank Account in the USA, you must act now.

It is no secret that many of us living in Latin America and the Caribbean have bank accounts in the U.S.

The fact is also that many of these accounts, for various reasons, are kept in a private and confidential...

In Financial Matters, Life is a Marathon, Not a Sprint.

As your priorities and tastes change over time, the financial decisions that you take during the various stages of your life should also change. Most probably you are familiar with the saying, "Life is a marathon, not a sprint." Adopting a marathoner's approach to life allows you to take a more...

Is the Global Financial Order Shaking or Shifting?

The introduction of the FACTA is resulting in a further erosion of the US dollar in its role as the world's reserve currency. A reserve currency (a.k.a. anchor currency) is the currency held by a country's central bank as foreign exchange reserves to be used to settle the country's international...

Accidental Gringo!

It is a well-known occurrence that when the future seems somewhat uncertain in the home country that many look to the North, that is, the United States, as a haven of financial security. Some make travel arrangements to time the delivery date so that children are born on U.S. soil to secure for...

Data Privacy: From a "Good-to-Have" Need to "Must-Have" Need

Identity theft, ATM skimming, and kidnapping are criminal activities that have evolved from random acts committed by individuals or poorly organized criminal gangs into well-organized and well-funded criminal enterprises. These criminal enterprises are businesses, in which data collection and...

Working as a Corporation

One new global development is the fact that in many cases both companies buying the services and the professionals delivering these services prefer to enter into a free-lance commercial agreement instead of working under an employment agreement. Important logical questions to be asked are,...

The Cloud that is Shaping our Lives

More and more, the computers in our day-to-day use are becoming invisible. We seldom take a moment realize that every time we use a search engine to find something on the Internet that we are in fact using a billion-dollar computer network. 

“Cloud computing” as a...

The Swedish Agency Structure

One of the developments which have been triggered by Globalization is the significant increase of companies, involved in international trading activities.

In the recent past, it was common to use an offshore company, to arrange the invoicing and lower the tax burden on the...

Tax Treaty Networks

Using offshore structures to optimise profits on IP royalties  

Tax treaty networks offer a unique financial planning tool for companies possessing rights in intellectual property including patents, trademarks and copyright.  When such companies embark on a...

Viaticals and Life Insurance Settlements

Which is the Better Option?

There are two investment strategies available to investors that some investors may consider to be ethically questionable, given that they involve profiting from the death of an insured person through the purchase of a life...

Money - It Would Be Good to Discuss It with Your Partner!

More often than not couples fight about money and even in cases where they don’t fight, it doesn’t mean that they are on the same page when it comes to financial matters. A recent survey revealed that in one out of three couples, only one member knows the exact content and whereabouts of the...

Global Shell Company Regulations: An Unfair Competition Game Gets Leveled

People who are involved with international company formation and banking services have noticed an increase in stricter identification and due-diligence requirements when dealing with service providers operating in the many offshore international financial service centers. These rigid...

Political Alert - Soon There will be Nowhere to Hide for PEPs

News stories in the past few years have reported on dramatic changes in the political systems of many countries in the world (e.g., the "Arab Spring") and we thought our clients would be interested in the latest developments on how some governments are dealing with the illegally-obtained assets...

Curacao's Bilateral Investment Treaty Advantage

When planning to structure investments abroad, consider Curaçao. It has a solid track record as an international financial center. Apart from having a good legal and professional infrastructure, Curaçao also offers good investment protection through its extensive Bilateral Investment Treaties...

Tax planning tool

A private foundation can offer an attractive solution to the problem of residency and control when setting up international corporate structures. Typically, international corporate structures are arranged to save tax on the profits realized.

The anti-avoidance legislation enacted by many...

Curacao Transparent BV

Introduction As per January 1, 2012 an interesting new concept has been introduced in the Curacao Tax Code, namely The Curacao Transparent Company. The concept of Transparent Companies is relatively new concept and could be considered one of the most fascinating developments in the international...

Estate Planning

One of the most important decisions you will make, for you and your family.


Estate planning is the process by which an individual arranges the transfer of his estate in anticipation of death. An estate plan aims to preserve the maximum...

Family Constitution

Throughout the evolution of the humankind, in almost all cultures proverbs have been created to emphasize how difficult it is to transfer a successful family business from one generation to the other, sayings such as:

In the USA: “From shirtsleeves to shirtsleeves in three...

Probate Procedure

Much has been written and lectured about one of the core benefits of a Private Foundation—an ideal legal tool to avoid probate.  But what is probate and why is it beneficial to avoid this procedure?
Probate is the legal and administrative actions that need to be undertaken...

How to Choose the Right Successor

Much has been written about the fact that, in the coming years, many businesses will be transferred to the next generation but the focus is hardly ever set on how one should go about selecting one’s successor.

With the older and wealthier segment of the world’s...

Asset Protection

"The most basic of all human needs is security"

Asset protection planning involves examining an individual’s position, and then determining and applying a lawful series of techniques to protect their assets, mainly from claims of future creditors, or even from a divorce settlement...

Supporting Charity Foundations

Enhance and preserve your family name, while enjoying a lower tax bill.

A Supporting Charitable Foundation is a useful vehicle for succession planning and tax mitigation. But is also affords its founder the possibility to carry on his (family) name and do so in a positive manner. A...

New Jurisdictions

Curacao & St. Maarten, new jurisdictions.

As per October 10, 2010, the Netherlands Antilles as a jurisdiction within the Kingdom of the Netherlands will be dissolved.

Consequently in its place, two new jurisdictions Curacao and St. Maarten will come into...

Family Office

What is it and is it right for you?

The modern concept and understanding of family office emerged at the beginning of the 19th century when the J.P.Morgans and Rockefellers started their family offices in 1838 and 1882 respectively.

The specific reasons why families establishes...

The Netherlands Antilles

The Netherlands Antilles with new attractive Tax Planning Opportunities.

In September 2009 the parliament of the Netherlands Antilles approved a bill to amend the profit tax legislation. Under the new legislation the extent of tax exemptions will be broader. On the other hand some...

Personal Service Companies

The Ideal Solution for consultants operating in the international market:
The Situation:
Mr. A is highly paid IT consultant who works throughout the word. Each project normally lasts at least six months and requires MR. C to travel to a foreign country to...

Service Quality Assessment

When purchasing a service, one is actually paying for a promise.

The service provider, when accepting a retainer fee to provide a service, is making a commitment to deliver in the future, and to do so in an acceptable way.

In the case of certain services, such as a hair-cut or...

Private Foundation as Escrow Agent

One of the commercial areas, where Private Foundations, has successfully been deployed, is the use as an Escrow Agent:

Private Foundations, can successfully be used when buyer and seller does not know each other and needs a trustworthy 3rd party, to hold part of the purchase...

UK Agency Structure

UK Agency an effective and practical solution for international trade.

One of the developments which have been triggered by Globalization is the significant increase of the use of offshore companies, to structure international trading activities.

The problem when using offshore...

Transparency

Gradually the era of bank secrecy and tax evasion is coming to an end.

Tax avoidance is doing everything possible within the law to reduce your tax bill legally. Without changing country of residence or giving up one's citizenship, personal taxation may also legally be avoided by...

Baby Boomer Wealth Transfer

The Baby Boomers will account for an unprecedented transfer of wealth.


Baby Boomers is those born after the second world-war, specifically between 1946 and 1964. Many studies have identified this time frame, as the greatest boost to the world population, also the...

In Asset Protection, Timing is Key

The worst time to consider asset protection is when you actually need it.

Attorneys and other professionals involved in the area of assisting clients with the establishment of legal entities to own assets, more often than not consider themselves engaged in dreadful conversations. A...

The Hunting of the Rich

For the top income earners, 2011 might be considered as the year of the “hunting of the rich”.

From an economic perspective, one could argue that the year 2011 should be labeled as the year of the Euro crisis. In retrospect, for the top income earners it might be considered as...

Special Purpose Companies

A Special Purpose Company (SPC) is a company that is set up for a specific goal, for instance to isolate a specific risk.

There are many situations that warrant the use of a Special Purpose Company. In the following paragraphs, we will give some examples to illustrate how beneficial it...

Cyprus Royalty Companies

Cyprus, an interesting jurisdiction through which one can route their stream of royalty income.

Typically we tend to connote the term royalty income with big name corporations or artists who receive payments for the use of their names, trade secrets, or units of their software or songs...

The Paradox of Transparency

Certain global developments are quite paradoxical in nature.

On the one hand, global legislative developments are steadily moving towards more transparency and less privacy and confidentiality. Individuals and organizations that have something to hide, who are not following the...

Death is not the End

A Private Foundation is a legal entity which You can use to, guaranty a smooth transition of the family assets from one generation to the other.

In the case of high profile public icons, such as Michael Jackson and Marilyn Monroe, the images and rights left behind could become...

Forced Heirship

Forced Heirship, herein further referred to as forced inheritance could be described as a limitation or restriction on the freedom to decide or bequeath an estate, by means of a will, trust or private foundation.

These rules provide that, at death, a certain percentage or part of an...

Hybrid Companies

Most people are familiar with a company limited by shares, where the liability of its shareholders is limited to the amount paid for the shares.

Beyond this amount, the shareholders cannot be held personally liable for the debts and liabilities of the company.Less familiar is the...

Probate

Frustration, disbelief, and anger are the typical emotional expressions when family members realize what a probate procedure entails.

The issues in the procedure with which they will have to deal before they can gain access to the funds in a bank account abroad (e.g. Switzerland or the...

Singapore LLP

The Singapore Limited Liability Partnership (LLP) is not only a good to conduct your trading activities in Asia but it also offers other advantages, such as a good
international reputation and adequate taxation.

The essential feature of the Singapore LLP is the fact that...

Bitcoins

 Those among you who have teenagers at home probably are familiar with the popularity of interactive computers games. One of these games, Second Life, is a role-playing game in which you create and live an alternative life. In these games, game players use a number of virtual currencies.

SINGAPORE: LIMITED LIABILITY PARTNERSHIPS

SYNOPSIS

The Republic of Singapore is a Commonwealth country located at the tip of the Malaysian peninsula and occupying an area of 622 square kilometres. Singapore was formerly part of Malaysia which gained independence from Britain in 1957. Eight years later in 1965,...

Unclaimed Bank Assets

 

It is a known fact that during the Second World War and the period thereafter, it was common practice for High Net-worth Individuals (HNI) to use numbered accounts and other type of confidentiality practices to protect their assets.

As many of these numbered accounts...

Family Constitution

Throughout the evolution of the humankind, in almost all cultures proverbs have been created to emphasize how difficult it is to transfer a successful family business from one generation to the other, sayings such as:

In the USA: “From shirtsleeves to shirtsleeves in three...

Probate Procedure

Much has been written and lectured about one of the core benefits of a Private Foundation—an ideal legal tool to avoid probate. But what is probate and why is it beneficial to avoid this procedure?

Probate is the legal and administrative actions that need to be undertaken...

Estate Planning

Estate planning is the process by which an individual arranges the transfer of his estate in anticipation of death. An estate plan aims to preserve the maximum amount of wealth possible for the intended beneficiaries with the flexibility for the individual to decide during his...

Life Insurance Contracts

Tax and financial planning solutions for offshore corporate structures.

Life insurance can offer an attractive solution to the problem of residency determination when using offshore corporate structures in tax planning. These structures are typically arranged so that profits are realized...

The Private Foundation

An excellent tax planning and asset protection tool.

Almost all of us realize the benefit of using a Trust, to plan against inheritance taxes, to protect assets against future creditors or to eliminate probate. In our practice we see that due to probate procedures, sometimes inherit ants...