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Showing posts from April, 2017

Is the U.S.A. the new Tax Haven?

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What exactly is a tax haven? As far as we are aware, there is no universally accepted definition. Typically, the term is used to describe a jurisdiction that offers favorable tax or other conditions. It is therefore a relative term. So relative to Indonesia, Singapore appears to be a tax haven. Relative to Singapore, the BVI appears to be a tax haven.



It’s important to point out however, that while there is no generally accepted definition of what constitutes a tax haven, some of the criteria that make such places attractive extend far beyond tax. So while many definitions refer to those countries or jurisdictions that have a relatively low-tax or no-tax regime or which offer generous tax incentives; others may refer to a state, country, or territory which maintains a system of financial secrecy. Secrecy that enables (foreign) individuals to conceal assets, or income in order to avoid, evade or mitigate taxes in the home jurisdiction.



As a result of the sometimes complex …

Acquisition of U.S. Citizenship by a Child Born Abroad

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Birth Abroad to Two U.S. Citizen Parents in Wedlock A child born abroad to two U.S. citizen parents acquires U.S. citizenship at birth under section 301(c) of the Immigration and Nationality Act (INA) provided that one of the parents had a residence in the United States or one of its outlying possessions prior to the child’s birth. The child is considered to be born in wedlock for the purposes of citizenship acquisition when the genetic and/or gestational parents are legally married to each other at the time of the child’s birth and both parents are the legal parents of the child under local law at the time and place of birth. Birth Abroad to One Citizen and One Alien Parent in Wedlock A child born abroad to one U.S. citizen parent and one alien parent acquires U.S. citizenship at birth under Section 301(g) of the INA provided the U.S. citizen parent was physically present in the United States or one of its outlying possessions for the time period required by the law applicable at th…