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A Blueprint for Managing your PR
Please feel free to publish this article and resource box in your ezine, newsletter, offline publication or website. A copy would be appreciated at bobkelly@TNI.net. Word count is 1140 including guidelines and resource box. Robert A. Kelly ©...
Being Small Has Its Advantages
Those of us business owners who do it all, whether we are home based or a small business have it made. With today’s technology we can look as big as we want. With the web, faxes, video conferencing and all the burgeoning technology you don’t need to...
Five Cheap Tricks for Promoting Your Business
If you’re like me, you’re always looking for ways to promote your business — without spending a ton of money. Well, you’re in luck. This article lists five of my top 10 favorite ideas for promoting your business or organization for next to...
How to Turn Your Customers Into Evangelists
When we talk about customer loyalty, it usually means the customer being loyal to the company. That should be a great result to aim for, but it isn't the beginning of the story. Real customer loyalty comes from you being loyal to your customers. ...
Is This Any Way to Run Your PR?
You bet!
Especially for business, non-profit and association managers who REALLY need to persuade their key outside audiences to their way of thinking. Then move them to behaviors that lead to the success of their department, division or...
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Residential Property Abroad
It is increasingly common for individuals to own more than one property and in many cases the first investment after the family residence is in a holiday home. Whether you are buying a place in the sun, a country retreat or a city centre apartment, if it is in a foreign country you will be exposed to an unfamiliar legal system and to taxes in the country concerned. It is therefore important, even before a contract is signed, to decide whether to make the purchase in your personal name or through a company. To change course later will always be expensive. It is however usually possible to reduce exposure to tax.
Buying in a personal name
Assuming the property is for personal occupation, the form of tax, which is most easily avoided, is estate or inheritance tax. The death of the person in whose name the property is registered will normally give rise to a liability which may exceed 40% of the value at the time and the tax will usually have to be paid before the property can be sold or transferred.
Buying in a corporate name
If, however, the property is purchased in the name of a company, the death of the owner does not create a need to transfer the property. The property will be owned by the company, and it is the shares in the company which will form part of the owner’s estate and not the property itself. If the company is formed in an offshore territory, the British Virgin Islands for example, which does not impose taxation on non-residents, the objective of avoiding foreign death taxes will have been achieved. There is a bonus, in that the name of the owner of the
company need not be a matter of public record, thereby maintaining confidentiality.
Ownership through an offshore company will also ensure that, on death, the property will pass to the intended heirs. It will overcome the forced inheritance provisions found in the civil law and in Sharia law.
Purchasing through a company does increase the cost. The purchase may attract a higher rate of stamp duty, the company will need to be professionally managed and it may be required to file a tax return. These costs are however generally modest in relation to the potential tax saving.
Some words of caution
Some countries, whether in an attempt to prevent tax evasion by their residents, as part of increased international co-operation against tax avoidance or merely to raise revenue from non-voting foreigners, impose taxes on a notional income of companies incorporated in tax- free centres, but not against companies formed in taxing locations. Examples are France, Spain, Portugal, Greece and Argentina.
Others, such as the U.K. have hit on the wheeze of taxing their residents on a notional benefit, where the property is owned by a company rather than by the taxpayer personally, and no occupational rent is paid. Foreign investors in U.K. property are not discriminated against however. The answer, as always, is to take advice before acting.
About the Author
The Chesterfield Group provides a full range of trustee, and corporate advisory, formation and management services and invites enquiries. More particulars can be found on our web-site www.chesterfield-management.com
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PR.com: Directory of Businesses Jobs Press Releases Products ... |
Comprehensive Directory of Businesses, Jobs, Products, Services, Press Releases, News, & Articles in all Industries. Promote your business. FREE. |
www.pr.com |
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PR Newswire - news distribution, targeting and monitoring |
News and press release distribution services for small business marketing, corporate public relations and investor relations, government and organizational ... |
www.prnewswire.com |
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PR Week Magazine |
News and features about the public relations industry, with links to US, UK, Asian, and German editions. |
www.prweek.com |
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Public relations - Wikipedia, the free encyclopedia |
Public relations (PR) is the art of managing communication between an organization and its ... PR historians say the first PR firm, the Publicity Bureau, ... |
en.wikipedia.org |
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Puerto Rico - Wikipedia, the free encyclopedia |
Hyperlinked encyclopedia article covers the country's history, government and politics, geography, economy, demographics, language and culture. |
en.wikipedia.org |
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The Public Relations Society of America (PRSA) |
Largest professional organization of public relations specialists representing business, consulting firms, government, associations, schools, ... |
www.prsa.org |
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CIA - The World Factbook -- Puerto Rico |
Profile of Puerto Rico by the Central Intelligence Agency (CIA). |
https: |
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Center for Media and Democracy - Publishers of PR Watch |
A nonprofit, public interest organization dedicated to investigative reporting on the public relations industry. |
www.prwatch.org |
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Puerto Rico Vacations | Puerto Rico Tourism Company | Puerto Rico ... |
Puerto Rico Tourism Company Official site includes nightlife, area sports, culture, and travel information. |
www.gotopuertorico.com |
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PR: See what people are saying right now on Technorati |
See all blog posts tagged with pr on Technorati. ... This page shows everything that has been tagged with pr. To contribute to this page include this code ... |
www.technorati.com |
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Edelman |
Full service global public relations firm. Includes company profile, management team, practice areas, industries served, case histories, client listings, ... |
www.edelman.com |
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LEWIS PR - global public relations |
LEWIS PR is a global public relations consultancy working with leading and emerging brands and delivering predictable results tied tightly to client goals. |
www.lewispr.com |
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IANA | .pr - Puerto Rico |
University of Puerto Rico Gauss Laboratory Facundo Bueso Building Office 265 ... Puerto Rico Email: tech@uprr.pr Voice: +787 765 3263 Fax: +787 754 0757 ... |
www.iana.org |
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Online Public Relations Home Page |
Free online resource for public relations professionals. |
www.online-pr.com |
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Chartered Institute of Public Relations, CIPR, the professional ... |
The CIPR is the professional body for the UK public relations industry, providing PR training and events, PR news and research, and a PR jobs board. |
www.ipr.org.uk |
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PR News Online — Trusted Source for Public Relations News, PR ... |
The latest news on public relations delivered FREE right to your inbox. ... Psycho-Geometrics Help You Know What 'Shape' Your PR Team's Personality Is In ... |
www.prnewsonline.com |
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O'Dwyer's Public Relations News - odwyerpr.com |
Features breaking news about the public relations industry, a database of PR firms, listing of PR service firms, client search tool and job postings. |
www.odwyerpr.com |
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PR News Online — Trusted Source for Public Relations News, PR ... |
E-letter. The latest news on public relations delivered FREE right to your inbox. ... Share ideas with your peers in PR News' just-launched Forum ... |
www.prandmarketing.com |
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Linux PR: |
Comprehensive Press Release and Public Relations resource for the Linux community. |
www.linuxpr.com |
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Escape to Puerto Rico - Your Internet Guide to Puerto Rico |
Internet guide to everything Puerto Rico. Offers lots of photos, accommodations and travel information from around the Island. |
escape.topuertorico.com |
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