Lessons Learned About

Reasons As To Why You Should Hire The Services Of A Personal Injury Solicitor

Accidents do occur a lot at both workplaces and on the road. The good thing is that if prevention steps were taken most of these accidents wouldn’t occur. At a workplace it is the responsibility of the management to train its workers on the use of the machines. A good company should ensure that all the employees have protective gears when working. If such measures are not taken and an accident occurs in the company’s premises, then the management is legally responsible. If sustained serious injuries and you were psychologically affected by the accident you can always sue the company. In such a case you need to seek the services of a personal injury lawyer. Finding such a lawyer that specializes in such cases is very easy because there are so many of them in the industry. This information can be accessed quite easily on the internet. All you have to do is to check the reviews that their previous clients have stated on the experience that they had with the lawyer.

This information will guide you in knowing if hiring their service is worth it, or you should find another guy instead. There are so many reasons as to why you should hire the services of a personal injury lawyer.If you are lucky enough to find an experienced lawyer in the industry, you can never regret hiring them for the job. Instead of going for an independent attorney choose one that works for a law firm for they are the best. It is usually the work of a law firm to ensure that all their attorneys represent their clients in the best possible way that they can. They are also given a whole team to work with in order to build a case that will gain a win. Thanks to the support that they get from the law firm they are likely to win their cases compared to independent lawyers. These lawyers are usually very keen on how they handle their cases. This is usually because they tend to have a strong brand and they can never want to spoil their name and that one of the company. Different lawyers do charge differently for their service. Settle for a lawyer that you can easily afford their fee because how much they charge will not determine how good they will represent you. The most important thing is to find an attorney that is trustworthy and will represent you well.

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How and Why to Open a Bank Account in Hong Kong

Hong Kong today remains one of the best offshore banking jurisdictions. It offers a great combination of bank secrecy, corporate secrecy, a financially and politically stable environment, and strong banks. But perhaps most importantly, it’s a secure offshore investment haven for those who want to diversify out of sinking western currencies into booming Asian markets, and China in particular.

So how can you go about opening an offshore bank account in Hong Kong? Do you have to travel there? This article will answer these questions and give you some practical hints and tips. But first some background.

A Successful Free Market Experiment For East and West Alike

Hong Kong, in my opinion, is the only practical example in the world of a major city that has been developed from scratch and run as something of an offshore, free market experiment – first by the British, then by the Chinese.

The main Island (and later Kowloon and the New Territories, parts of the mainland) was a British colony for most of the nineteenth and twentieth centuries. During this time it grew from a fishing village and opium trading hub, into a city-state of seven million people. It became known as a free-wheeling, free market paradise for capitalists, with an economy characterized by low taxation, free trade and no government interference in business.

In 1997 the British returned sovereignty over Hong Kong to China. The former colony became one of China’s two Special Administrative Regions (SARs), the other being Macau. Many people were initially doubtful about one of the world’s capitalist bastions being run by a communist power, and at the time a lot of investors pulled out, many taking their dynamic business acumen heading to places like Singapore and Vancouver.

However, the “one country, two systems” model adopted by Beijing to coincide with free market reforms and the growth of China into an economic superpower has proven very successful. The Basic Law of Hong Kong, the equivalent of the constitution, stipulates that the SAR maintains a “high degree of autonomy” in all matters except foreign relations and defence. The SAR today operates as a major offshore finance center, discreetly oiling the wheels of commerce between East and West.

These days, rather than being put off by the Chinese influence, most international investors who are attracted to Hong Kong are coming precisely because of this Chinese connection. Hong Kong is the point of access to Chinese trade, without the legal and cultural difficulties of doing business in mainland China.

Those who do not trust their own governments are reassured by the fact that under the Basic Law, Hong Kong’s foreign relations are run from Beijing. While most offshore jurisdictions humbly submit to demands from the USA and other western countries, in the case of China, the relationship is definitely reversed. Hong Kong does have a number of Tax Information Exchange Agreements (see below) but these are sensibly policed and do not allow for fishing expeditions.

Offshore Banking in Hong Kong

The region’s population is 95 percent ethnic Chinese and 5 percent from other groups, but English is very widely spoken and is the main language in businesses like banking.

One thing I like about using Hong Kong for offshore bank accounts is the same argument I have used for Panama and Singapore: it’s a ‘real’ country with real trade going on. The Hong Kong dollar is the ninth most traded currency in the world. Compare this to doing business on a small island or other remote banking jurisdiction, where everybody knows your only reason for doing business there is offshore banking. It also means that there is no problem doing your banking in cash, if you so wish.

For now the HKD, the local dollar, still tracks very closely the US dollar, but this appears to be changing as the Chinese Yuan circulates freely in Hong Kong, both in cash and in bank deposits. We think this represents an excellent opportunity to diversify funds out of the US dollar now, gaining exposure to Chinese growth in the meantime. (Of course, you can also hold HKD in banks in other parts of the world too)

Bank accounts in Hong Kong are almost all multi-currency by default, allowing all major local and international currencies to be held under one account number and exchanged freely and instantly within the account at the click of a mouse.

There is no capital gains tax, no tax on bank interest or stock market investments, and no tax on offshore sourced income. This, combined with a welcoming attitude to non-resident clients in the banks (including US citizens by the way, who are generally unwelcome in traditional offshore banking havens like Switzerland), and strong cultural and legal respect for financial privacy, makes Hong Kong one of Asia’s best offshore banking jurisdictions.

For those who want to establish a small offshore account under reporting limits, or simply to have the bank account established in view of future business, Hong Kong is also attractive given the low minimum deposits demanded by the major banks there. The minimum bank account balance can be as low as HK$ 3,000. Of course, you can’t expect red carpet, VIP private banking at this level – but you get a perfectly good functioning bank account with all the technological trimmings.

Offshore Corporate Bank Accounts in Hong Kong – Do’s and Don’ts

Typically, offshore clients choose to open accounts using corporations, as opposed to personal accounts. This not only offers greater privacy, but also flexibility and can – depending of course on how things are structured – offer significant tax and asset protection advantages.

Accounts can easily be opened both for pure offshore companies like Panama, BVI, Nevis or Marshall Islands, or for local Hong Kong companies that are set up using nominee directors and shareholders.

When contacting local corporate service providers in Hong Kong, you’ll find that most of these corporate service providers will recommend you use a Hong Kong company to open the account. The reason they do this is that it’s simpler and more profitable for them. They can incorporate a local company at low cost, opening the bank account is smoother and faster with a local company, and they can carry on billing nominee director fees every year. But it may not be the right thing for you.

Whilst it is true that Hong Kong companies do not have to pay any tax provided they do not make any local source income, administering such a company is not so simple. For example, Hong Kong companies are required to file audited accounts every year. They must file pages and pages of documents to convince the Inland Revenue Department (HKIRD) that they don’t have any local business, and, from practical experience, the HKIRD is getting much stickier about this. Long-established companies are normally left unmolested but newly established companies can expect a lot of compliance work in their first few years. Again, this suits the Hong Kong corporate service providers who charge handsomely for such services.

Another factor to consider is Controlled Foreign Corporation (CFC) legislation in your home country. (For an explanation see Wikipedia ) Many clients choose to set up LLCs as they can be treated as passthrough entities, vastly simplifying reporting requirements in some countries like the USA. Hong Kong corporations are not LLCs and cannot be treated as passthroughs for tax purposes.

My advice – assuming you don’t intend to do any business in Hong Kong besides banking and perhaps the occasional trip to visit your money – would be to open the account in the name of a company from a foreign offshore tax haven. It’s a little more work and expense at the beginning, and the bank might ask you more questions, but it will save you a lot of money and headaches in the long term. If you want a local look and feel for your company, numerous virtual office services are available.

Hong Kong Tax Information Exchange Agreements

Contrary to what you will read on some out-of-date websites, Hong Kong has signed a number of Tax Information Exchange Agreements (TIEAs). However, the HKIRD is at pains to point out that fishing expeditions are not going to be tolerated.

The HKIRD has issued Practice Note 47, available on the internet, which usefully explains how the HKIRD seek to achieve a balance between the requirements of compliance with the OECD requirements, whilst providing checks and balances to protect the rights of businesspeople.

The HKIRD are professionals and should be well positioned to deal with TIEA requests properly and justly in accordance with the treaties and guidelines. I am confident not going to allow their ‘clients’ rights to be trampled on.

Regulation of Banks in Hong Kong

Hong Kong’s Banking Ordinance was revamped in 1986. It has since undergone several amendments to improve prudential supervision. The Hong Kong Monetary Authority (HKMA) was formed in 1993 as a one-stop financial regulator, responsible for everything from banks to stored value anonymous debit cards.

The SAR maintains a three-tier system of deposit-taking institutions, comprising licensed banks, restricted license banks, and deposit-taking companies. Only licensed banks may operate current and savings accounts, and accept deposits of any size and maturity. RLBs are only allowed to accept deposits of HK$500,000 and above, while DTCs are only permitted to accept deposits of a minimum of HK$100,000 with original maturity of not less than three months.

Both these latter categories provide an opportunity for overseas banks to conduct wholesale, investment or private banking activities in Hong Kong without having to jump through the hoops of applying for a full banking license. In addition, some foreign banks have chosen to open representative offices in Hong Kong, which are not allowed to take deposits but can assist in opening accounts at other offices within their groups.

As Hong Kong is an international financial centre, it is an explicit policy of the HKMA that the regulatory framework in Hong Kong should conform as much as possible with international standards, in particular those recommended by the Basel Committee.

Hong Kong’s five largest banks, in terms of total assets, are as follows:

– Hong Kong & Shanghai Banking Corporation (HSBC)

– Bank of China (Hong Kong)

– Hang Seng Bank Ltd

– Standard Chartered Bank

– Bank of East Asia Ltd.

A full list of updated Hong Kong banks can be found on Wikipedia.

Visiting Hong Kong to Open a Bank Account

If you are visiting Hong Kong to open your account, it can normally be opened the same day provided you have made some arrangements with a local service provider, or directly with the bank, in advance. This is assuming you use one of the major banks, that nearly everybody does. You can then simply visit the bank, sign documents and receive the bank account number immediately. This will be a full multi-currency account and you will typically receive a digital token for internet banking, a password and a debit card.

The documents required for opening offshore bank account are:

1) Formation documents (in the case of corporate accounts. Apostilles are required in the case of foreign corporate accounts – your offshore provider will know how to obtain these.)

2) Bank forms and business plan/expected activity (a corporate service provider will normally supply these as part of the service)

3) Passport copies of each director, signatory and shareholder (take special note of this requirement if you are using nominee directors – if the persons are not present, copies will have to be notarized.)

4) Proof of address (such as updated bill statement which shows up your name and address) and signed (of each director and shareholder)

A bank reference is generally required if you are dealing direct with the bank. If you go through a corporate service provider, they normally write a reference so you do not need to supply a bank reference. However, if you can obtain a bank reference it is better.

Opening an account without visiting Hong Kong

It is also perfectly possible to open accounts without visiting Hong Kong (known as ‘remote account opening’) though this process tends to take substantially longer as banks will ask a lot more questions. In this case, your bank or service provider will generally e-mail you the forms, that you will need to print out and sign.

Depending on the bank, there may well be certain special instructions about how and where to sign – for example, HSBC in Hong Kong will typically request that you have your signature witnessed in the HSBC Bank nearest to you. As with all foreign bank accounts, you should be sure to use the same signature that appears in your passport, otherwise the documents will be rejected.

In the case of remote account opening the bank will normally courier the password, debit card, and token direct to your address in your home country. Then you need to activate them via the bank’s website.

Conclusion

Hong Kong competes very favorably with Singapore, the other Asian banking jurisdiction we favor. If you have not yet diversified your offshore holdings into Asia, you should seriously consider doing so. I hope this article will be helpful in this regard.

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Questions About You Must Know the Answers To

Factors To Consider When Hiring An IT Support Service In Los Angeles

The process of identifying a professional and reliable IT support company in Los Angeles will be made possible by the use of specific guidelines and tips such as the ones that have been explained vividly in this article.

You have to begin by identifying the IT support service companies that are operating in Los Angeles whenever you are planning to hire one so that you get to put them in a list that you will be narrowing down to until you land on the one that meets your preferences and likes with the guidelines and instructions that have been explained in this article. It is vital that you consider looking for relatives and friends who have stayed in Los Angeles for the longest time and have been involved with these IT support companies before so that they give you recommendations on the best that you can work with in case you have just moved in Los Angeles recently which means that you have little information on these companies.

You will then begin the process of analyzing these companies to find out who is fit to work with by first checking who is qualified in terms of training in this field to operate and provide professional services. You will need to go through the certificates and documents or materials from these training they attended to confirm if they have their knowledge they claim to have and also make sure that the ones you pick have the permits from the authorities to operate.

You have to make sure that you narrow down the list father be finding out if those IT companies that are still remaining in your list are both trained and experienced since definitely the companies that have both experience and training prove to be more reliable than the ones with training only. You will need to ask this IT support companies to provide you with reference names and contacts of those clients that they have been working with so that you get to call and enquire about the quality of the service we provide for you to know if they really have the experience you are looking for.

Another essential factor that you should not forget about is the charger for the service you are expecting as you consider the fact that you are also depending on your budget limit which means that you have to work with an affordable company but also one that provides quality services. You have to go through the reviews left by the clients who have been previously served by these companies on their review and rating pages of these companies.

– Getting Started & Next Steps

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The 10 Most Unanswered Questions about

Thing to Know When Choosing IDX Plugin

For the last 16 years, WordPress has been in use and today, it is one of the most trusted software in the current market. To confirm this, numerous companies and businesses out there are now investing in WordPress websites. To have the best understanding of this, it is good to analyze the various things that you stand to benefit in case you turn to WordPress platform today. Take note that, there are array of choice out there and you need reliable information so as to make a decision that will help your business to thrive. You core focus should be making your WordPress website to ye your brand’s hub, generate very good lead and also boost brand marketing.

To start with, when it comes to IDX, it is not an easy task to understand what is what. This is because of the numerous companies out there, multiple technologies, plans of payments, MLS just to name but a few. To understand this better, it is good to check on the following so as to assist select IDX plugin.

To start with it is great to take note of that all IDX aren’t made equal in regard to benefiting agents and brokers. It is true that every other IDX plugins normally display property listing which are searchable on your website, but there are those systems that involve iframe only. In some cases, framing have upfront costs which are low, but in the long run, it will have dire effects to your business. This is on the grounds that the property or properties listen on your website can’t be read by the search engine. This means that your overall search engine visibility will be limited and as a result this reduces website’s traffic flow. The solution to framing is organic IX systems where each one of the property listings normally reside on the main server of your business website. Consequently, the search engine always indexes them and additionally, the organic IX system produces unique urls for each of the listed page. This is what increases the overall likelihood of your web pages being ranked at the top of search engine results

If these explanations sound hard, the simplest way to do this is choosing IDX plugin that is trusted all over US. Besides this, the right IDX plugin should boost engagement, increase lead conversion and make your company shine out there.

Getting Creative With Advice

A 10-Point Plan for (Without Being Overwhelmed)

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