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  • Economy of MayotteDatum17.02.2024 16:28
    Thema von DonaldWalker im Forum Fragen und Diskussion

    Mayotte is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, Mayotte may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. 25.9% of population in the country are unemployed. The total number of unemployed people in Mayotte is 67,258. The Gini Index of the country is 49. Mayotte is experiencing poor equality. The gap between the richest and poorest citizens in this country is quite noticeable.

    Currency
    The currency of Mayotte is euro. There are several plural forms of the name 'euro'. These are euro, euros. The symbol used for this currency is €, and it is abbreviated as EUR. The euro is divided into Cent; there are 100 in one euro.

    Credit rating
    Credit rating is the extent to which international investors trust a country in paying debts and upholding the country's obligations in terms of crediting. There is no information on the credit rating of Mayotte.

    Public debt
    The government debt of Mayotte has not been calculated yet.

    Tax information
    Personal income tax ranges from 0% to 33%, depending on your specific situation and income level. VAT in Mayotte is 0%.

    Finances
    The total Gross Domestic Product (GDP) in Mayotte is 2 billion. Based on this statistic, Mayotte is considered to have a small economy. Countries with small economies generally support less industries and opportunities for investment. However, worthwhile investment opportunities may be found. The Gross Domestic Product (GDP) per capita in Mayotte was last recorded at $0 million. The average citizen in Mayotte has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries.

  • Infrastructure of BangladeshDatum15.07.2023 09:14
    Thema von DonaldWalker im Forum Fragen und Diskussion

    The logistics performance index of Bangladesh is 2.56. This indicates satisfactory performance - in general, traffic is handled well, some shortcomings in specific areas are possible, but overall the logistic system is reliable and ready to handle predictable traffic volumes.

    Customs performance is rated at 2.09. This indicates mediocre performance - while the clearance processes are rather ineffective, they do not unduly impede international business activities, occasionally fees and/or required documents can be unpredictable, and long clearing times can also be an issue.

    The infrastructure quality in Bangladesh is rated at 2.11. This indicates a mediocre quality - roads, railways, ports and other facilities are capable of handling reasonably significant traffic but are insufficient to ensure smooth transit at all times.

    The international shipping quality is 2.82. It indicates satisfactory performance - the services are reasonable and the prices are not too high and are usually right up there with the quality, although there is still room for improvement.

    The competence of the logistics service provider is rated at 2.64. The providers are competent – they ensure a good quality of their services and almost always maintain this level; Deficiencies, while still possible, are usually minor and do not provide an incentive for the vendors to continue working.

    The tracking options for shipments are rated at 2.45. This indicates mediocre performance – the tracking systems provide a certain level of information, usually covering the most important topics such as a shipment's current location, arrival and departure dates and status of a shipment; Nevertheless, more detailed information on the status and multilingual accessibility options is usually missing.

    The tracking options for shipments are rated at 3.18. This indicates satisfactory performance - most shipments arrive on time and within scheduled timescales; Late arrival is still possible, albeit unusual.

    In Bangladesh, 59.6% of the population has access to electricity. Bangladesh has 18 airports nationwide. There are 71,164 internet hosts in Bangladesh. The number of road motor vehicles per 1000 people in Bangladesh is 469.

    Road network
    The total road length in Bangladesh is 34,476 km (21,427 miles). Of these, 0 km (0 miles) of roads are classified as freeways, dual carriageways, or freeways.

    Gas price
    On average, one would pay USD 1.3 for a liter of petrol in Bangladesh. A liter of diesel would cost $0.84.

  • Thema von DonaldWalker im Forum Fragen und Diskussion

    Latvia has a corporate tax rate of 15%, which is one of the lowest in the European Union. Companies that operate under VAT have to pay tax on purchases at 21%.

    Joint stock company, commonly abbreviated as JSC, is a public legal entity, which means that its shares can be publicly traded. Similarly as limited liability company, also JSC shareholders liability is limited by the contributed capital.

    Authorised capital

    The minimum amount of capital for JSC is 35,000 EUR and this sum has to be paid in fully by the registration of the company. In case of specific legal entities, such as insurance companies, banks and other non-banking financial institutions, the minimum share capital amount can be much larger.

    Shareholders of the company

    Similarly as for a limited liability company, the owners of company shares may be either legal entities or individuals. But contrary to a limited liability company, JSC shares can be bought and sold publicly. The maximum number of shares is unlimited and more shares can be issued during the life of the company. There are several types of shares and usually the shareholders’ rights to vote and receive dividends depend on the category of shares. Typically shareholders are entitled to express their opinion about the direction of the business and other subjects, such as the distribution of profit and appointment of the council. All shareholders’ decisions are made during a shareholders’ meeting.

    A council elects as well as revokes members of the board of directors. Board of directors is the executive body of the company. Unless stated otherwise, all members of the board of directors represent the company jointly and decisions are made by voting. Only a private person can be a member of the board of directors.

    Documents needed for JSC incorporation in Latvia

    In order to register a company in Latvia, below documents need to be submitted in the Register of Enterprises of the Republic of Latvia:

    Company incorporation application form;
    Agreement (or a decision in case of a sole shareholder) to establish a company;
    Articles of association of the company;
    Bank’s reference confirming the share capital payment;
    Founder registry schedule of the company;
    Confirmation by the council of the company;
    Confirmations by the board members of the company;
    Resolution about the company’s legal address signed by a board member;
    Resolution about the allowance to register the company in the particular address (signed by the real estate’s owner);
    Proof of payment of the state taxes for a company formation;
    Proof of payment for a publication in the official newspaper “Latvijas Vestnesis”
    JSC incorporation process in Latvia

    Incorporation of a JSC in Latvia is a complex legal procedure, which requires involvement of experienced corporate lawyers or incorporation agents. JSC incorporation generally consists of the following steps:

    Collection of all necessary information and documents for the incorporation of a company;
    Preparation of the foundation documents for the incorporation of a company;
    Signing of the foundation documents (at the notary);
    Opening of a temporary bank account where the share capital is paid;
    Payment of state fees for the company formation and the publication in the official newspaper;
    Submission of the foundation documents to the Register of Enterprises of the Republic of Latvia;
    When the company is registered, you shall receive following documents:

    Certificate of registration;
    Articles of association;
    Decision of the state notary of the Register of Enterprises of the Republic of Latvia
    Reporting to tax office

    JSC is obliged to report its financial statements once a year and a report on the company’s employee salaries must be submitted each month. In case the company’s turnover exceeds 50,000 EUR, it is obliged to register as a VAT payer. This also needs to be done if the company plans to export goods or services abroad. If a company is registered as a VAT payer, it has to submit VAT reports on a monthly basis.

  • Top 5 manufacturing jurisdictionsDatum16.11.2022 17:54
    Thema von DonaldWalker im Forum Fragen und Diskussion

    Manufacturing is the largest economic sector in the world, which is also one of the most important, directly and indirectly accounting for a large part of all economic activity and all jobs worldwide. It processes items and is dedicated to either creating new goods or adding value by producing finished goods for sale to customers or intermediate goods to be used in the production process. After the industrial revolution that began in Britain a few centuries ago, labour-intensive textile production was successfully replaced by mechanization and the use of fuel. Today, manufacturing creates jobs, technological development and an increase in international investment.

    For this reason, some jurisdictions are leveraging manufacturing output and value-added exports to increase their operations, business performance and revenue, and to address the challenges and opportunities that manufacturers face every day in conducting their businesses.

    According to Deloitte's 2016 Global Manufacturing Competitiveness Index, China, the United States, Germany, Japan and South Korea are ranked as the top five most competitive manufacturing countries in the world. These countries generate about 60% of global manufacturing GDP.


    United States
    The United States is successful in attracting investment in many of the world's most active industries, such as aerospace, auto assembly, pharmaceuticals, to name a few. The USA has signed an agreement with Germany to implement a dual vocational training program for the advanced manufacturing sector. US business policies focus primarily on technology transfer, sustainability, monetary control, and science and innovation, giving manufacturing companies (automotive in Detroit and high-tech in Silicon Valley) a competitive advantage.

    Germany
    Germany retains a relatively high share of manufacturing exports. The country provides long-term support in government-sponsored science labs and national programs created to foster manufacturing innovation in areas such as solar and wind power and renewable energy (renewable energy sources accounted for 28% of the country's electricity generation in 2014). In addition to an energy revolution in the manufacturing industry, the country is striving to phase out nuclear energy.

    Japan
    Japan has a technology-intensive manufacturing sector that dominates the global manufacturing landscape in most advanced economies. The country maintains manufacturing competitiveness as there is a close link between manufacturing competitiveness and innovation. Japan has strong potential to become one of the most advanced manufacturing jurisdictions in the world. The Robot Revolution Realization Council was established in the country in 2014 as part of the Japan Revitalization Plan, introducing infrastructure and energy resources for next-generation vehicles. Japanese companies account for 50% of the global factory robot market.

    South Korea
    As the world leader in the manufacture of liquid crystal displays (LCD), smartphones and memory chips, automobiles, and the world's largest shipbuilder, South Korea is actively pursuing growth in free trade agreements with more than 50 countries. The country invests heavily in education and produces a large number of researchers every year. It is also known that supporting manufacturing innovation in South Korea with venture capital investments to boost high-tech startups is identified as a strategic priority.

    China
    Canada and its provinces compete on a global scale for investments that result in low production costs, low wages for factory workers, and the adoption of globally popular product mandates. As a result, there are some significant trends in Chinese manufacturing that can easily be highlighted. These trends include creating a globally competitive, expansive manufacturing business model, helping to create a competitive business environment for manufacturing in China and increasing sales in domestic and overseas markets. This fact can encourage start-ups to grow, invest and compete with other successful manufacturing companies.

  • Online-trading solutionDatum14.10.2022 15:28
    Thema von DonaldWalker im Forum Fragen und Diskussion

    Your EU company is referred to as a "merchant". The merchant account is opened directly in the name of that company while the funds go into a connected company account. The process is as follows: When the acquirer issues a Merchant Identification Number (MID) for the customer, they also provide technical setup details. Later, the merchant will be set up in the payment gateway and their account credentials will be configured. You will then be given API integration instructions and the acquirer's technical team will likely be able to assist you with this.

    This scenario, which should be clarified with your acquirer in advance, involves an additional company, e.g. B. A Hong Kong company that has an agreement with your EU trader whereby the trader acts as a settlement agent for the main Hong Kong company. The Hong Kong partner can ease the tax base of the EU company to some extent. Any such agreement between the two partners requires a clear and detailed legal contract. According to the contract between the two parties, the EU merchant handles the entire process of selling, billing and collecting payments from customers.

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