Offshore TERMS - Offshore DICTIONARY - Offshore GLOSSARY
What is the meaing of... ?
Family Holding Trust
Family Limited Partnership
Foreign Bank Accounts
Foreign Investor in Real Property Tax Act of 1980
Foreign Personal Holding Company
Holding Trust. A trust that is created specifically to hold
the family's assets consisting of real and/or personal
Family Limited Partnership (FLP). A limited partnership
created for family estate planning and some asset
protection. It is family controlled by the general partners.
A highly appreciated asset is transferred into the FLP to
achieve a capital gains tax reduction. Usually, the parents
are the general partners holding a 1 to 2 percent interest.
The other family members are the limited partners holding
the balance of the interest in the partnership.
Flight Capital. Money that flows offshore and likely never
returns. Flight is exacerbated by a lack of confidence as
government grows without bounds.
Foreign. May be utilized in a geographic, legal or tax
sense. When used geographically, it is that which is
situated outside of the U.S. or is characteristic of a
country other than the U.S.
Foreign Bank Accounts (U.S.). Every United States resident,
partnership, corporation, estate or trust must advise the
United States Treasury of any financial interest in or
signature authority over a foreign bank, securities or other
financial account in a foreign country and must report that
relationship each calendar year by filing Form 90-22.1 with
the Treasury Department on or before June 30 of the
succeeding year. This report must be at the following
address: United States Treasury Department, P.O. Box 28309,
Central Station, Washington, DC 20005. A "foreign country"
includes all geographical areas located outside the United
States, Guam, Puerto Rico, and the U.S. Virgin Islands.
Foreign Corporation. A corporation organized under the laws
of a foreign country and whose parent company in the home
country may participate in any percentage of shares of the
Foreign Investor in Real Property Tax Act of 1980 (FIRPTA).
Under FIRPTA and the Economic Recovery Act of 1981, unless
an exemption is granted by the IRS, upon the sale of real
property owned by offshore (foreign) persons, the agency,
attorney or escrow officer handling the transaction is
required to withhold capital gains taxes at the closing of
the sale transaction. Unless withheld and submitted to the
IRS, the party handling the sale transaction is personally
liable for the taxes.
Foreign Person. Any person, including a U.S. citizen, who
resides outside the U.S. or is subject to the jurisdiction
and laws of a country other than the U.S.
Foreign Personal Holding Company (FPHC). Different than a
controlled foreign corporation. Discuss with your CPA.
Free Zones. Free zones are designated areas which receive
special treatment through their exclusion from the area to
which the country's normal customs rules apply. A free port
is one at which imports may be landed without paying customs
duties. The system of free zones or free ports favors export
processing, transshipment and the entrepot trade since there
is no need to pay and then reclaim customs duties. Though
free zones are often part of a tax incentive package in what
would otherwise be a high tax jurisdiction, they may also be
found in tax havens, e.g. Freeport in the Bahamas.
Fraudulent Conveyance. A transfer of an asset that violates
the fraudulent conveyance statutes of the affected
Belize Offshore Corporation -
British Virgin Islands
Offshore Corporation -
Gibraltar Offshore Corporation -
Seychelles Offshore Corporation -
USA LLC Offshore
USA Delaware Offshore Corporation -
USA Oregon Offshore
ALL or NONE -
- BASIS POINT -
COST OF CARRY -
ENTRY ORDER -
FOREX TRADER -
LIMIT ENTRY ORDER -
LIMIT ORDER -
LONG POSITION -
MANUAL EXECUTION -
MARGIN CALL -
MARKET MAKER -
MARKET ORDER -
MINI ACCOUNT -
OCO ORDER -
PIP or POINTS -
QUOTE BUY SELL -
SHORT POSITION -
EXCHANGE - SPREAD -
STOP-ENTRY ORDER -
STOP-LOSS ORDER -
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