Mathilda Vonruden's Blog

Everyone wants to make as much money as possible. This is not surprising at all. Even the kings in ancient times could not get enough of the tributes they could easily exact from their subjects so that they can build palaces, ships and car ports (or should we say stables?).

Not all can become kings or presidents, for that matter. But we all need to earn enough to meet our needs. What most people fail to consider, however, is that financial planning begins not when you get a job or start making a salary. Much like going to college, one prepares for a college degree the moment one enters grade school. Likewise, gaining the knowledge and the skills to become financially stable starts with the very first step: when you get hold of your first paycheck.

Here are some principles to follow to achieve stress-free financial planning:

1. Financial planning initially requires knowing how to earn or make money

Obviously, before anyone can talk or think about planning how to spend money, one has to earn it first. Yes, one can borrow; however that is the most dangerous route toward a risky proposition, unless, of course, one already knows how to handle money and avoid risks. There is no shortcut to the process; either one has the money to budget or has the capability to raise that money somehow and not stock up with huge loans – a warning on this!.

1. Decide what the money is for

This is a no-brainer. Every teenager knows this: it is for a pair of shoes or a date on a weekend. But that is the case where money is merely handed down. Or it could even be earned through hard work, such as mowing the lawn or minding the family store.

But for more serious money and goals (for business, that is), one has to have a more accurate plan for spending the money and how to make it grow as much as possible with the least time possible.

1. Budgeting requires considering the risks

We will never find out the ultimate secrets to budgeting that will bring about the highest returns and with zero possibility of failure and feel like being scammed. Risks are part of life’s realities, much more so in business. Every expense has a hidden risk in the form of additional or unexpected costs or loss of profit. Buying a digital camera, to give a simple but convincing example, is no longer like buying a shirt. You buy a shirt and wear it without having to pay another cent, although you will have to spend for washing it regularly. A camera, however, might require buying a camera bag, a tripod, a selfie-stick and so many other accessories to make it fully functional for all occasions.   

Financial planners input contingency costs to cover expected and unexpected expenses. This takes care of the “risks” appurtenant to a particular item of expense in a company’s budget.

1. A budget must include savings

The importance of savings cannot be overemphasized. Many people, in fact, go through life without ever having a semblance of a lifetime savings, let alone a piggy bank. Unfortunately, many such people live in subsistence levels that does not allow them the luxury of putting aside some money regularly.

But a business enterprise cannot survive without provide for sufficient savings to cover unexpected as well as necessary expenses along the way. The best rule to follow, to echo Warren Buffet, is to put aside a certain percentage for savings first and spending the rest for one’s regular expenses and not the other way around, which most people practice.

With enough practice, anyone can get the knack for efficient, stress-free financial planning as a personal or business practice.   

Safety is the main reason why some people invest in commercial property since it's the main interest of many. Based on recent reviews, commercial property will still perform for you even if the economy slows down, unlike in residential property. And when the economy is strong, commercial property increases its value and gives you a stable income.

But if you're still in doubt or just planning to start out in this venture, Bacall Development explains the benefits you can gain from investing in commercial property through the following paragraphs to help you make up your mind. The firm is a full-service commercial real estate company that has been involved in this field for decades.

Strong returns are not a surprise to some when it comes to commercial property. You can gain both income and capital growth in a commercial property since it provides strong and reliable returns. However, making a quick gain shouldn't be your only objective because this endeavor requires great effort and patience. You should take advantage of a growing investment over time where you can get a return consistently above inflation.

Aside from higher returns, commercial property is oftentimes more secure - a crucial point to others that can result in a steady income. Leasing commercial real estate usually ranges from three to ten years as opposed to short-term leases of residential properties.

Because of the mentioned benefits above, reviews state that the risk is lesser if you invest in commercial property than in residential property or the stock market. This data is based on overall analysis of both properties.

According to Bacall Development and its associates, commercial property can catch the attention of different sectors in the economy. Because of the dependence of retail property on consumer spending trends, it has the highest direct relationship to the economy, along with industrial properties. Office buildings are most likely to perform depending on long-term supply and demand. Exposure to various sectors can deliver great benefits to you and to avoid fraud as well.

Acquiring tax benefits is imaginable with a commercial property. Most commercial properties attract handy building allowances as well as depreciation allowances on plant equipment within the building.

Protection against inflation is also one of the benefits of investing in commercial property. Reviews reveal that commercial property has been considered as a good protection against inflation over the years. It has a good record of outpacing inflation over a long period of time.

Investment control? Yes, it's possible. You have a significant level of control over your investment in case you're an owner of a direct property. You have control on various areas such as change of use for the property, disposal, redevelopment, renovations, the terms of the lease, the type of tenant, and upgrading.

Furthermore, you have the ability to add value in a commercial property investment through improvement of the appearance, renovation, lease restructure, subdivision or enlargement, and upgrade. You can further leverage your commercial investments as you improve the property and it grows in value. By borrowing more against your improved equity, you can quickly be in a position to control a sizeable portfolio of properties.

However, Bacall Development needs you to know that there are still disadvantages in owning commercial properties. What are mentioned above could be the total opposite to others based on their individual experience. The firm suggests that you must choose the right commercial property to have a strong capital growth and gain a great rental return. You must know what makes a good commercial property.

Background

The International Organization of Securities Commissions (IOSCO) is the worldwide association of national securities regulatory commissions, such as the Securities and Exchange Commission in the United States, the Financial Services Authority in the United Kingdom, and about 100 other similar bodies.

The member agencies of IOSCO have agreed to:

• cooperate in developing, implementing and promoting adherence to internationally recognised and consistent standards of regulation, oversight and enforcement in order to protect investors, maintain fair, efficient and transparent markets, and seek to address systemic risks
• enhance investor protection and promote investor confidence in the integrity of securities markets, through strengthened information exchange and cooperation in enforcement against misconduct and in supervision of markets and market intermediaries
• exchange information at both global and regional levels on their respective experiences in order to assist the development of markets, strengthen market infrastructure and implement appropriate regulation.
• Under the Multilateral Memorandum of Understanding Concerning Consultation and Cooperation and the Exchange of Information, member organisations cooperate with each other in matters of enforcement.

IOSCO's involvement in IFRS

IOSCO's enforcement role extends to matters of interpretation of IFRS, where IOSCO maintains a (confidential) database of enforcement actions taken by member agencies.

In September 2013, IOSCO and the IFRS Foundation announced agreement on a set of protocols to improve consistency in the implementation of IFRS. The Statement of Protocols for Cooperation on International Financial Reporting Standards reiterates the current relationship between the two organisations, and identifies four new areas for mutually supportive work:

• Use of IFRSs within jurisdictions around the world — IOSCO and the IFRS Foundation will periodically share information to maintain current and accurate data on the progress of global IFRS adoption
• How securities regulators will be affected by IASB standards — The IFRS Foundation will identify and explain implementation aspects of the IASB’s new or significantly amended standards that are of interest to securities regulators
• Discussion of IFRS enforcement matters — IOSCO will organise an annual IFRS enforcers’ discussion session for its members to discuss issues, standards and other IFRS enforcement matters with IASB members or staff
• Providing critical and timely input — The IFRS Foundation will solicit IOSCO member opinions on any time-sensitive IFRS implementation matters needing urgent input from securities regulators.

Don’t be the victim of a scam

If the offer seems too good to be true, it probably is.

Beware of immigration fraud and scams

You may have seen advertisements that promise work permits and guarantee high-paying jobs in Canada. Some offer scholarships to study at Canadian universities or colleges. Potential newcomers to Canada should be aware that many offers like these are fraudulent. In fact, using the services of people who make such promises may result in your application to Canada being rejected.

Canada’s immigration system is based on fairness. Every application receives equal consideration. No one has special connections, and no one can promise your application will be given special treatment or guarantee that it will be approved.

What you need to know

• You are not obliged to hire a representative, including a consultant, lawyer, Quebec notary or paralegal regulated by a law society, to apply for a visa or for Canadian citizenship, but if you do, choose carefully.
• Representatives do not have special connections with Canadian government officials and cannot guarantee you a visa. Nobody can guarantee you a visa.
• Only Citizenship and Immigration Canada (CIC) officers can decide whether or not to issue a visa. Don’t be tempted into using false documents. It is a serious crime to misrepresent yourself by making false statements or submitting false documents when dealing with CIC. If you do this, your application will be refused. You will also face serious consequences. Depending on the situation, these may include:

1. no entry into Canada for at least five years;
2. a permanent record of fraud in CIC’s database;
3. revocation of your permanent resident status or Canadian citizenship;
4. being charged with a crime; or
5. removal from Canada.

• Do not enter into a marriage that is not genuine in order to obtain permanent residence in Canada. Beware of Internet scams and false websites. The official CIC website is www.cic.gc.ca.
• You will find free information for any type of visa on CIC’s website.
• Processing fees are the same at all Canadian visa offices around the world. Fees in local currency are based on official exchange rates and correspond with the standard fee charged in Canadian dollars.
• Canadian visa offices will never ask you to deposit money into an individual’s personal bank account or to transfer money through aspecific private money transfer company.
• If you have questions, contact CIC or the visa office responsible for your area.

Choosing a representative, a consultant or a lawyer

If you do decide to hire a representative, choose carefully:

• Ask someone you trust to recommend someone;
• Talk to several representatives before you decide which one to hire; check references and find out how long they have been in business;
• Make sure you understand exactly what services they will provide, and how much they will charge you. Get this information in writing.
• Make sure they are authorized by the Government of Canada.

The only people authorized by the Government of Canada to charge a fee to represent or advise you on immigration, refugee and citizenship matters are:

• lawyers and paralegals who are members in good standing of a Canadian provincial or territorial law society;
• notaries who are members in good standing of the Chambre des notaires du Québec; and
• citizenship or immigration consultants who are members in good standing of the Immigration Consultants of Canada Regulatory Council.

The Government of Canada will not deal with unauthorized representatives who charge a fee for their services.

To find out whether the person you are thinking of hiring to represent you is authorized by the Government of Canada, ask if they are members of one of the organizations listed above. You can then check with the organization to make sure the person is a member in good standing. Contact information for all of these organizations can be found on the CIC website at immigration.gc.ca/antifraud.

Once you have chosen a representative, make sure the representative updates you on your application on a regular basis. Remember—you must accept responsibility for all the information in your application whether you complete it or it is completed by your representative. It is against the law to give false or misleading information to Citizenship and Immigration Canada.

Most customer accounts are transferred between broker-dealers through an automated process. The National Securities Clearing Corporation (NSCC) operates the Automated Customer Account Transfer Service (ACATS) to facilitate the transfer of a customer account from one broker-dealer to another. Transfers involving the most common assets, for example, cash, stocks and bonds of domestic companies, and listed options, are readily transferable through ACATS.

What must a customer do to start the account transfer process?

Individuals wanting to transfer their securities account from one broker-dealer to another initiate the process by completing a Transfer Initiation Form (TIF) and sending it to the firm to which they want to transfer their account. The firm a customer is transferring the account to can provide the form to facilitate the transfer. The new firm is called the "receiving firm." Once the receiving firm receives the TIF, it begins the process by communicating with the current or "delivering firm," via ACATS.

What is involved in the account transfer process?

Although automated, the account transfer process is somewhat complicated and is impacted by certain factors and regulations, the most important of which are discussed below.

Once the receiving firm obtains the TIF, it enters certain customer data, including the name on the account, Social Security number, and account number at the delivering firm into ACATS. Shortly after the data is entered, an automated function permits the delivering firm to see that a request to transfer the account has been made.

Delivering Firm Responsibilities

To best prevent the unauthorized transfer of an account, delivering firms will reject any transfer request where certain data (for example the customer’s name and/or Social Security number) provided by the receiving firm does not match the information on the delivering firm’s records. If the account request is rejected, the new firm may correct the data from that which it originally entered or it may have to contact the customer to make sure the information on the TIF form is correct. Once the customer account information matches, the transfer request is considered to be validated. In most cases, the validation process will take about three business days to complete once the new firm enters the request into ACATS.

Receiving Firm Review

Once the transfer request is validated, the delivering firm will send a list of the assets in the account to the receiving firm via ACATS. The receiving firm will review the list of assets to decide whether it wishes to accept the transfer of the account. It is important for investors to recognize that broker-dealers are not required to open or accept the transfer of an account. In this regard, a customer might initiate a transfer request only to find that the new firm has declined to accept the account. The most common reason for declining the transfer of an account is due to the new firm’s credit policies. For example, the new firm may decide not to accept the account due to the quality of securities supporting a margin loan, or because the account does not meet its minimum equity requirements.

Time Frames

Once the customer account information is properly matched, and the receiving firm decides to accept the account, the delivering firm will take approximately three days to move the assets to the new firm. This is called the delivery process. In total, the validation process and delivery process generally take about six days to complete.

Factors that may result in additional time needed to transfer an account

Generally, transfers where the delivering entity is not a broker-dealer (for example a bank, mutual fund, or credit union) will take more time. In addition, transfers of accounts requiring a custodian, like an Individual Retirement Account or a Custodial Account for a minor child, may take additional time.

What are realistic expectations of the time that is required to transfer an account?

Many events, as described above, occur simultaneously during the account transfer process. Even with today’s technology, a successful account transfer from the customer’s former firm to the new firm will usually take about a week although it is best to plan ahead for any potential delays.

What can a customer do to ensure that the account transfer is successful?

Prior to moving accounts from one firm to another, it is always a good idea to review and understand the transfer process. In addition, communicate with the new firm and determine whether any specific policies or constraints might impact the transfer of your account. For example, if you have a margin account, you should ask if the new firm will accept a margin account and, if so, what are its minimum requirements. In short, make sure the intended new firm is a good fit for you before you attempt to transfer the account.

In addition, investors can become familiar with the account transfer process by discussing it with the new firm. Ask questions, like the anticipated length of the transfer process given the specific type of account (such as cash, margin, IRA, custodial) and the assets held (such as stocks, bonds, options, limited partnership interests). Inquire about anything that may cause a delay during the account transfer process. Ask how the firm informs customers that the transfer process is complete?

Investors should also consider that buying and selling securities during the account transfer process often complicates and delays the transfer. Some firms will even "freeze" an account that is in the process of being transferred, meaning that no trades will be permitted until the transfer is complete; an important point to discuss with the firms prior to initiating the transfer. As a result, investors are best served if they avoid trading during the transfer process. For example, if ABC security is a volatile stock and you are concerned about not being able to sell your stock during the transfer process, you should consider selling ABC before entering the transfer request.

Mossack Fonseca’s commitment to social responsibility continues with the recent inauguration of a lactation room located on its premises designed for the benefit of the many mothers working for the company.

Panama, Republic of Panama – January 18, 2016 /PressCable/ —

A socially responsible corporation that understands how essential it is to assist staff members in achieving a healthy balance between their personal and professional responsibilities, Mossack Fonseca recently inaugurated a lactation room on its premises for the benefit of the company’s mothers. Always keeping in mind the babies’ health and helping maintain the emotional bond between mother and baby in spite of work responsibilities, the addition of an office lactation room is a critical step that reinforces the manner in which the company values the well-being of its staff members and their families.

Through an alliance with Pigeon Global, Mossack Fonseca was supplied with the products needed to make this beautiful project an overwhelming success. Mothers now have a pleasant area with special furniture, a refrigerator, a microwave steam sterilizer and an assortment of Pigeon products designed to assist with this highly beneficial activity. Benefiting both mother and child, the addition of the lactation room is yet another example of how the company works diligently to ensure its clients, shareholders and team members are all accorded the respect they so richly deserve.

Founded in 1977, the company’s mission and core values have long guided the manner in which Mossack Fonseca operates with regard to its clients, its employees and its shareholders. In addition to its commitment to outstanding customer service and its focus on excellence, Mossack Fonseca has created a corporate culture and philosophy built on the tenets of commitment, discipline, responsibility, honesty, loyalty and innovation. The consistent adherence to these core values has driven the company to always consider how its actions will serve others and to pursue the course of action most likely to yield the greatest possible benefit.

It is also worth noting that the company’s longstanding professional partnerships with companies like Pigeon Global play an important role in Mossack Fonseca’s ability to be so successful in the implementation of socially responsible projects such as the recent lactation room addition. Whether it is providing comprehensive legal, trust and accounting services to clients or developing programs for the benefit of employees, Mossack Fonseca has demonstrated its keen understanding of the importance of building relationships based on the qualities outlined in its mission and core values.

About the Firm: The Mossack Fonseca Group is a firm that provides exceptional legal, trust and investment consultancy to clients across the globe. Founded in 1977, the firm offers comprehensive services across every continent, specializing in international business structures, commercial law, wealth management and trust services.

For more information about us, please visit http://www.mossfon.com

Contact Info:

Name: Mossack Fonseca

Organization: Mossack Fonseca

Address: 54th Street, Marbella, Panama, Republic of Panama

Phone: (507) 205.5888

A 15 January 2016 press release from the Mauritius Revenue Authority (MRA) announced the delay of the Organization for Economic Cooperation and Development’s (OECD) Common Reporting Standard (CRS) exchanges of information for tax purposes until September 2018. Originally, the exchanges were slated to begin in September 2017.

The MRA also confirmed that the requirement for Mauritian financial institutions to apply due diligence procedures to record the tax residence of clients opening new accounts will take effect from 1 January 2017. The CRS, unlike FATCA, requires information based upon tax residency, not citizenship.

Established in 1977, the Mossack Fonseca Group is a leading global company which provides comprehensive legal, trust and accounting services.

With over 500 staff members across every continent, the Mossack Fonseca Group provides excellent services based on more than 35 years of experience. As part of its added value, the Group offers personal advice and a world-class online experience through a virtual Client Portal which is available 24 hours a day. Our web-based Client Information Portal application allows clients to reserve companies online, verify the status of companies, and pay invoices, in addition to other transactions.

Our service and research-oriented professionals specialize in trust services, wealth management, international business structures, and commercial law, among other areas.

CLIENT INFORMATION PORTAL

The Mossack Fonseca Client Information Portal is a secure online account that enables you to access your corporate information anywhere and everywhere, with real-time updates of your ongoing requests.

Our exclusive online portal offers clients these features:

• FIND updated information on your Company Formation requests through the Case Information Service panel, as well as digital copies of Corporate and legal paperwork.
• FOLLOW UP on your cases and receive notifications by email whenever one of your cases is updated.
• SEARCH and RESERVE Shelf Companies online.
• VIEW your price lists.
• PAY your outstanding invoices
• REQUEST for certificates, reactivations and order forms

You can access all of these features from any place in the world in a safe environment in real time! Ask for your log in at: portal@mossfon.com

Find the following applications:

1. CASE INFORMATION SERVICE (CIS)

The Case Information Service (CIS) is a tool which tracks the progress of client requests and ongoing cases.

• The CIS enables you to:
• Contact our staff around the world
• View digital copies of documents as soon as they are received in our office
• Receive automatic email notifications every time one of your cases is updated (optional)

1. ONLINE PAYMENT SYSTEM (OPS)

Mossack Fonseca Client Information Portal offers a complete account management system where you can keep track of all your outstanding or paid invoices.

• The OPS will allow you to:
• Generate account statements with real-time information
• Pay your outstanding invoices online or by credit card
• Take advantage of our debit account application
• Choose our Batch Payment option that facilitates bank transfers and cheques for settlement of invoices

1. ELECTRONIC DELIVERY SERVICE (EDS)

Mossack Fonseca guarantees the most rapid and secure delivery system for your Annual Invoices and Account Statements. This Electronic Delivery System (EDS) eliminates delays due to the air-mail service. We avoid the use of paper, and it allows you to have more time to collect bills from your clients and send payments before deadlines.

1. ONLINE WORK REQUEST (OWR)

Through this new application you can access these documents easily and quickly, and all in one place!

• Incumbency Certificates
• Good Standing Certificates
• Reactivation of one or more companies
• Order Form

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In 1986, L. Ron Hubbard wrote a poem which is a guide to happiness.

"The Joy of Creating"

"Force yourself to smile and you’ll soon stop frowning.

"Force yourself to laugh and you’ll soon find something to laugh about.

"Wax* enthusiastic** and you’ll very soon feel so.

"A being causes his own feelings.

"The greatest joy there is in life is creating.

"Splurge on it!" — L. Ron Hubbard

(*wax: to increase in size, strength or intensity.) (**enthusiastic: having or demonstrating enthusiasm.)

Four Steps to Make Yourself Happier

1. "Force yourself to smile and you’ll soon stop frowning."

Try this exercise.

1. Smile
2. Don’t smile
3. Smile
4. Don’t smile
5. Smile
6. Don’t smile
7. Repeat the above until you are cheerful.

Do this exercise whenever you are frowning, upset, depressed, angry, apathetic or resentful.

Try the exercise in front of a mirror for an extra boost.

1. "Force yourself to laugh and you’ll soon find something to laugh about."

This exercise is useful when you are feeling stressed out or too serious.

1. Force a laugh.
2. If this is difficult for you to do, say, "ha ha ha ha ha." Then say, "ho, ho, ho, ho, ho." Then say, "he, he, he, he, he."
3. Repeat the above until you find something to laugh about.

1. "Wax enthusiastic and you’ll very soon feel so."

When you feel enthusiasm for a difficult task, you make better decisions, get more done in less time and produce a better result.

1. Write down a task you are avoiding or hate to do.
2. Ask yourself, "What about this task is interesting?" Write down the answer.
3. Ask yourself, "What could I be a little excited about regarding this task?" Write down the answer.
4. Ask yourself, "What could I be enthusiastic about regarding this task?" Write down the answer.
5. Repeat steps B, C and D until you feel enthusiastic about doing the task.

You might be surprised at how quickly this works.

1. "The greatest joy there is in life is creating."

What are your greatest joys in life?

Being a parent? Starting a company? Finding new customers? Forming new relationships?

Notice how each activity creates something?

1. Write down three things you can create today.
2. Do them.
3. Notice if your day is more joyful.

The happiest individuals, families and groups are those that create things.

The most exciting goals you can have involve creating something.

In fact, all of your success is your creation.

"Splurge on it!"