Articles

Whether you are an individual or a business owner, it is important for you to consider asset protection. In today’s world, it is important to take steps to protect your assets from litigious parties. Lawsuits are increasingly common, and it is important that you take steps to place your assets out of the reach of potential judgment creditors. Asset protection may be completed either domestically or internationally, and it is important that you take the necessary steps long before you have a potential judgment creditor on your horizon.   What...

Diplomatic passport and honorary consuls The ability to obtain a diplomatic passport or an appointment as an honorary consulate is an honor that is reserved for a very select few. Diplomatic passports and honorary consul appointments both offer multiple benefits. In order to secure them, people must navigate a complex process and have the right connections. CS&P assists people throughout the application process, including making introductions and acting in an intermediary role between applicants and high-ranking government officials who might be able to help their cases.   What is a...

A diplomatic passport is issued by a government for its diplomats. It is available only for diplomats and staff related to their foreign postings at the country’s embassy and consulate offices. A diplomatic passport is a passport which is issued to someone who must travel internationally on official state business. Diplomatic passports are classically given to career diplomats (Ambassadors, consuls, attaches, etc.) when they are posted overseas, and they may be issued to other people within the government as well, depending on the circumstances. Diplomatic passports are usually a different...

What You Don’t Know About Offshore Accounts Count Hurt Your (And Your Bottom Line) If a particularly challenging day at the office isn’t enough to make your head spin, managing an offshore bank account—and the potentially steep penalties for under-reporting them—just might do it. The U.S. tax system in principle sounds simple enough. It’s one of just two countries with a universal policy. That means it doesn’t matter if you’re investing, earning, or building a business in Connecticut or Israel—you pay taxes on what you earn, store, and accrue accordingly...

Obtaining a second passport or enrolling in a second citizenship program offers a host of benefits — but requires intense expertise to pull off. Maybe you’re thinking about opening an offshore bank account, or maybe you’re just looking for some privacy as you travel the world. Either case necessitates that you keep up-to-date with international laws governing different countries’ residency and second citizenship programs. While Austria and the two-island nation of St. Kitts and Nevis both offer attractive citizenship programs, recent policy changes have made them more complicated and confusing...

How 9/11 Affected Second Passport Legislation Many countries worldwide allow dual citizenship, and your home country may be one of them. Depending on your nation’s policies, you may be permitted to possess a second passport, gaining dual citizenship and opening the door to attractive opportunities like offshore accounts, unfettered travel, and wealth preservation. Securing a second passport makes travel much easier. If your home country doesn’t have a good relationship with a potential international travel destination, there may be restrictions on when and where you can go. By using a...

Aircraft registration – all aircrafts must be registered with the national authority and obtain a Certificate of Registration, in order to operate. They are assigned a unique alphanumeric string which may be compared to a car plate. Some jurisdictions have particularly convenient and favourable conditions for aircraft registration purposes. Annual General Meeting  (AGM) – many companies registered in different jurisdictions are required to hold an annual meeting, where company’s officials elect the Board of Directors and provide information on past and planned activities, including financial information. Various questions may be...

Panama searches private foundations laws of Liechtenstein, Luxembourg and Switzerland before coming up with a private law Foundation single interest in the law of private interest foundations 1995. Panama differs from the three laws of European countries mentioned above creating a mix between a society, traditional private foundation and a trust. The purpose of a Panama Private Foundation is to provide asset protection, estate planning, probate avoidance, and eliminates the need to write a will. A Panama Private Interest Foundation is a perpetual entity serving the founder’s heirs forever. Asset...

Obtain a Second Passport The benefits of obtaining a second citizenship and a second passport include visa free travel, asset protection, reduction of taxation, and the ability to freely do business and conduct other activties which may be restricted because of your home country’s passport. One can obtain a second passport legally in several ways. How to apply for a second passport and obtain dual citizenship A second passport is available to people who are citizens of another country. Many, but not all, countries allow for dual citizenship. People who...

The Andorran banking sector comprises a total of five banking groups and has more than 80 years of experience in this activity. It is one of the best jurisdictions in Europe and in the whole world for banking. Why? 1. One of the world’s most solvent and liquid banking environments. Andorra financial centre average Tier 1 core capital ratio rose by 0.05% to 22.77% across all banks by the end of 2010. Due to the conservative and prudent management of the Andorran Financial system, its liquidity ratio is at 71.76%...