Parent Company

A company in relation to its branch,subsidiary or daughter company.

Partnership

Often offers useful features for the purposes of an overall tax plan. In some jurisdictions, a partnership may have the features of a corporation and a company. Requirements relating to formations and registration of the company should be examined in the context of the general law governing local partnerships.

Permanent Establishment

The term is commonly used in DTA's and applies to business activities realized on the territory of a country, by a company or person incorporated or resident outside this jurisdiction.

Private Foundation

An effective offshore asset protection tool combining the features of a trust and an International Business company. The purpose of a Private Foundation is similar to a trust and is mainly preserving the assets, donated by the Founder and some third persons, for the benefit of and for distribution among the beneficiaries. Similarly to an IBC, a Private Foundation has a distinctive legal personality and tax-exempt status.

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30/09/2006
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