What is limited liability company (LLC)?

Limited Liability Company is a business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.

Limited liability feature is very similar to a corporation.
A feature of the partnership is the availability of flow-through taxation to the members of an LLC.


LLC disadvantages
An LLC has to be dissolved upon the death or bankruptcy of a member
An LLC may not be a suitable option when the objective of the founder is to eventually become a publicly listed company.

What do you need to start Limited Liability Company?

Select a state
Select a suitable state where you believe your company will grow huge. Confidus Solutions has a list of states you can choose from - http://www.confiduss.com/en/jurisdictions/

Name your LLC
Naming your company is a responsible task to do because your company reputation will be known by that name. Choose smart and ask for advice to anyone you know.

Choose a Registered Agent
Corporations and LLCs must have a registered agent in each state where they are registered to do business.

File the Articles of Organization
The process for filing this document differs by state, but the requirements are usually about the same.

Create an Operating AgreementOperating Agreement is similar to Corporate Bylaws in that it documents the operations of the LLC. It outlines routine activities, member information, member duties and more.

What is a partnership and what are the types of it?

What is a partnership?

A partnership is a business which involves two or more individuals who share the profits and losses of their business. A partnership is based on a belief, fairness, and mutual understanding and obligations.  

There are 3 types of partnerships:

General Partnership

In general partnership, each partner shares equally their work, ability and all of the profits. All of the general partnership owners are actively involved in the business activities and operations.

You don't have to record with your position and compensate a fee, as you do to launch a business or limited liability company.

Also filing revenue tax come back is easy.

You need to be careful by choosing the right partners in a general partnership, because your partner may have dissimilar apparitions or aims for the business. Also, you may find it difficult to find investors.

Limited Partnership

A limited partnership is almost like a general partnership, but the difference is that a limited partnership must have at least one limited partner.

In a limited partnership, it benefits from a quantity of reimbursement with a limited partnership.

A limited partner is defended from the size of the liability.

Limited Liability Partnership

In this type of partnership, some or all partners have limited liabilities. All partners are not responsible for each other in LLP.

Each associate is in charge only for the quantity of money he has given or guaranteed to the partnership.

Each one of the partners is not "individually accountable."

Which of the partnership do you think is the best?

Get to know the operating environment

If you are considering any country abroad as a new market it is vital to gain a thorough understanding of the operating environment.

So what is important?

Profile of Chosen Country

A first step to gaining an understanding of the political and socio-economic background of the country. Find out some facts that could be suitable for you, for example:

1. languages that citizens speak. Do you already know this language, should you learn it or you want to use services of a translator? 
2. geographic location, a specially if you plan to do export and it is important for the growth of your business
3. Currency and taxes. Think about where would be more profitable to open a bank account.

Lifestyles of Consumer and Their Income

Identifies factors influencing lifestyle choices and reveals who consumers are, what they do and where and how they do it. Find out about how consumers live their lives, their buying habits and what motivates them when making purchasing decisions.In what consumer’s age segmentation are you interested in? What are attitudes towards spending and saving?

Economy

Gain an understanding of the strengths and weaknesses of the economy. Are imports and exports performed well? Be aware of the chief risks of operating in the country.

Business Dynamics

Find a practical guide to doing business, providing a holistic view of the business environment. The answer to questions:
Is it an easy place to do business? What about corruption rate?

The Future Demographic

Look into the consumer markets of the future and understand the impact of changing demographics.

Natural Resources

To help you fully understand how the environment is affecting the supply, demand, and price of natural resources. It also can impact your business lifestyle of consumers.
A detailed review of the city where you plan to set up Your business

Appreciate the dynamics of the chosen city.

You can do such research on your own, find answers to many questions and think about every point in details or trust it to the company.

Advantages of Using Contactless Bank Card

Contactless payments have become so popular that now one in three card paymentsis contactless. It is getting more and more popular in our dynamic world becausepayment technologies have rapidly evolved. Aside from contactless credit and debitcards, you can also make payments using smartphones and smart watches. While using contactless cards, we need not swipe the card in a card reader machine.It works just by positioning the card near the card reader machine. So any physicaltouch is not required between the card and the machine.

• Contactless cards work faster than credit and debit cards.

If you want to look at the numbers, here is where this technology is taking us in our need for speed (average transaction speeds):

1. Contactless credit card transaction: 15 seconds
2. Magnetic strip card transaction: 25 seconds
3. Cash transaction: 34 seconds

• The NFC technology can be linked to mobile phone applications also so that we can move our mobile phones around the card reader machines in order to make a payment.
• Save your time. You also do not  need to take your contactless bank card from wallet.

• Contactless payments use encrypted data and the chip within a credit or debit card transmits a unique transaction number, making it almost impossible for thieves to access or steal your information.  For this reason,it is a safe payment method.

• You do not have to worry about typing errors in PIN code and your bank card would be blocked or abolish by bank terminal.

You need to contact your bank to get your contactless bank card. Could you mention more advantages of using contactless bank card?x
Advantages of contactless bank cards:x