Canada is a well-respected developed nation that is more than just ice hockey and nature parks. It has a growing economy, a decent job market, and stable legal systems. It has a strong education system and high-quality universal healthcare. In terms of the language, English and French are the two official languages. English is widely…
IRS Form 5472 is known as Information Return of a 25% Foreign Owned US Corporation or a Foreign Corporation Engaged in a US Trade or Business. As the name of the form suggests, it is for US businesses which have at least 25% of foreign ownership and are involved in a US business or…
IRS Form 5471 is a tax form for foreign companies owned by US persons. In most cases, form 5471 applies to US citizens and residents who own foreign corporations. It does not matter which country a US person lives in. If that person owns stock in a foreign company as a director or officer, then…
The EB-5 investor visa program is a way for non-US persons to invest in the United States in order to get a green card. Eventually, an EB-5 visa holder can attain US citizenship. The EB-5 investor visa program is run by the United States Citizenship and Immigration Services (USCIS). USCIS sets the guidelines for the…
Gold as an investment is a widely debated topic. Gold pays no interest or dividends. Gold, however, can rise in value. Gold prices haven’t done much in recent years. It did go up significantly in the 2000s but hasn’t done much in recent years. So, why would anyone invest in gold then? The main wealth…
What does expat mean? A person who lives outside his/her home country and works as a skilled worker, professional, or an artist is considered to be an expatriate or expat. The term expat may also extend to a retiree who has chosen to live outside his/her home country. People have been living in foreign countries…
Mexico, a country in North America, can be a great option for relocation, starting a business, and enjoying greater freedom. Mexico’s economy is growing and it has low manufacturing costs for those who want to produce goods. The government in Mexico is also stimulating entrepreneurship with significant investments in the start-up ecosystem. Mexico’s tourism economy…
FBAR is a commonly used acronym to refer to FinCEN Form 114 which is titled “Report of Foreign Bank and Financial Accounts”. FBAR is a means for US persons to report their foreign bank accounts to the US government. It is a way for the US Department of Treasury to keep a tab on the…
The US federal government and state governments describe felony as a crime for which penalty exceeds one year. Note that it does not matter how long a prison sentence the felon serves. The length of the sentence is what counts. Felony is a crime that is more serious than a misdemeanor. The range of crimes…
Switzerland as a banking destination Banking in Switzerland is seen as something very emblematic to the country. Besides Swiss Alps, watches, and chocolates, the only thing that comes to mind when someone talks Switzerland is Swiss banking. You might be wondering what makes a hilly country in Europe such a hot banking destination. The answer…