Smart Ideas: Revisited

Knowing More About Water Cutting
One of the most important commodities is water. Water is the heart of life.

This article will explain to you another great use of water. You should know that water cutting is one of the many uses of water today.

One thing about water cutting is that the jet of water can be used as a powerful cutting or slicing tool for a number of purposes every time its pressure will reach more than 50 thousand psi. You can also use water cutting to drill holes on materials and perforate them. And the best thing about water cutting is that it is way more efficient compared to the other heat-based cutting tools such as laser and plasma cutting.

You will be using a high pressure flow of water every time you will use a water cutting system. The water cutting machines also make use of the mixture of water and some abrasives in order to cut other materials. In the past, the water cutting tools were only used to cut through wood fiber tubes. And after a couple of years, water cutting systems were used mostly in cold cutting. Then after that, water jet cutting was then used more than the usual cutting methods.

You will be able to enjoy a number of great benefits from using water cutting systems compared to the usual cutting methods in the past. you should know that every time you will use the water cutting machines, you will not be getting any dust. The water cutting machines will also not be releasing any toxic gases in the atmosphere. You can also stop or slow down any time you want with these water cutting machines without doing any damage to the material that you are cutting. In addition to that, you will also not worry about the limit or indication on what part or point of the material you will be starting the cutting procedure if you will use these waterjet cutting machines. That is because you can actually start at any point in the material that you want to. You also needed to know that the water cutting machines are isothermal.

There are currently a lot of industries out there that are making use of the waterjet cutting machines in their cutting processes. For example, waterjet cutting machines are being used in the aerospace industry in order to ream, shape, or cut the aerospace components that have tight tolerance and are intricate.

The waterjet cutting machines are also being used in the mining industry especially in hard rock mines because they are best in cutting and drilling rocks. Aside from hard rock mining, coal mines are also making use of waterjet cutting machines.

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Short Course on – Covering The Basics

Importance of Selecting a Holistic Veterinarian

Pets are normally considered to be part of the family by their owners and hence making sure that they are comfortable and that they are well taken care of is what pet owners tries to do. The best veterinarian has to be chosen by a pet owner as there are times that their pet will need a regular check-up or when they are not feeling well they will need to be treated. There are many holistic veterinarians that are there and hence for a person that wants to choose a holistic veterinarian, they have to ensure that they do select the best one. Experiencing the benefits below can be when the best holistic veterinarian is chosen.

Holistic veterinarian are beneficial for a person since they normally practice holistic medicine that involves treating patients using natural methods. The diet, genetics, stress, environment and past history of the pet is also checked by the holistic veterinarian as they not only check at the symptoms like the way the regular veterinarian do. A person can thus be assured that their pet will be well treated when they take them to a holistic veterinarian because with all the information that they get to gather they will be able to treat the whole problem and not just fix the complaint that a person has of their pet.

Natural substances such as herbs, vitamins and even food are the ones that are normally used by the holistic veterinarian which is beneficial since they are more natural and safe. Pets usually respond well to the treatments that the holistic veterinarians gets to use as they have little or no side effects and they are safe. A person can be assured that when they do take their pet to a holistic veterinarian that they are going to live longer and will feel better. Preventive medicine and keeping the body healthy and in balance is what the holistic veterinarian focuses on in as much as the holistic medicine gets to treat many different conditions.

Holistic veterinarian have not only undergone the traditional medical training that other regular veterinarian have undergone but they have also gone through additional medical training and hence it is beneficial to choose them as they are very knowledgeable. Holistic veterinarians therefore are much more aware of what the pet needs in order to get well soon and hence they are in the best position to treat well the pet. It is beneficial for a person to also get to choose holistic veterinarian as they also practice complementary medicine most of them and hence they can also use traditional diagnostic tests such as lab work.

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The Essentials of – 101

What You Need To Know About Bathroom Remodeling

Bathroom and kitchen remodeling are very popular ways to prepare any home for sale. During the days, many people believe that only kitchen remodeling can add value to a home. But now, bathroom remodeling is also considered as something essential. You should know that a bathroom remodeling is a usual jump start that will really set the tone of any bath. It is highly suggested that you start shopping for the materials today since there is a wide variety of bathroom remodeling products that are available in the market which will really let you buy the most elegant and functional products.

You need to know that color is something emotional for humans. So when it comes to bathroom remodeling, it is important to have an emotional appeal of colors. You need to have a color scheme before you start remodeling your bathroom.

The color schemes that will awaken lively emotions are yellow and red. They are best in small doses. If you want more restfulness, then blue and green colors should be your choice. The blues of water can be adapted easily to your bathroom remodeling project. While the greens that you find outdoors will complement the blue color.

Once you have chosen the right colors for your bathroom remodeling, the next thing that you will do is to choose the ideal lighting. You might want to change the lighting that you currently have.

Atmosphere and emotion can also be brought by light fixtures. It is important for you to consider your current light fixtures first before you will start the bathroom remodeling project. If you want to add more value to your home via a bathroom remodeling, then you need to check out the new stocks from the lighting store in your area.

After a bathroom remodeling project is done, you might still feel that there is something that is not right. It might be that the colors don’t work well. It might be the lighting. But you need to know that black is the answer. Even if black is not a color, it is still one bathroom remodeling option that you need to take note of.

There are so many available bathroom remodeling options for you in the market today regardless of the style, preference, and the budget that you have. But every time you will be looking for bathroom vanities, it is important that you should take note of some important things first in order to make sure that you will be getting one that will fit your home. It is also important for you to have a list of the right dimensions in order to have a clear picture on the layout of the room. There are actually so many different available styles when it comes to single and double bathroom remodeling options. Aside from your personal style, you also need to consider the d?cor and theme of your bathroom. If you want to learn more about these bathroom remodeling options, then you should consider checking out this link right here.

Getting Down To Basics with

Getting Down To Basics with

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How and Why to Open a Bank Account in Hong Kong

Hong Kong today remains one of the best offshore banking jurisdictions. It offers a great combination of bank secrecy, corporate secrecy, a financially and politically stable environment, and strong banks. But perhaps most importantly, it’s a secure offshore investment haven for those who want to diversify out of sinking western currencies into booming Asian markets, and China in particular.

So how can you go about opening an offshore bank account in Hong Kong? Do you have to travel there? This article will answer these questions and give you some practical hints and tips. But first some background.

A Successful Free Market Experiment For East and West Alike

Hong Kong, in my opinion, is the only practical example in the world of a major city that has been developed from scratch and run as something of an offshore, free market experiment – first by the British, then by the Chinese.

The main Island (and later Kowloon and the New Territories, parts of the mainland) was a British colony for most of the nineteenth and twentieth centuries. During this time it grew from a fishing village and opium trading hub, into a city-state of seven million people. It became known as a free-wheeling, free market paradise for capitalists, with an economy characterized by low taxation, free trade and no government interference in business.

In 1997 the British returned sovereignty over Hong Kong to China. The former colony became one of China’s two Special Administrative Regions (SARs), the other being Macau. Many people were initially doubtful about one of the world’s capitalist bastions being run by a communist power, and at the time a lot of investors pulled out, many taking their dynamic business acumen heading to places like Singapore and Vancouver.

However, the “one country, two systems” model adopted by Beijing to coincide with free market reforms and the growth of China into an economic superpower has proven very successful. The Basic Law of Hong Kong, the equivalent of the constitution, stipulates that the SAR maintains a “high degree of autonomy” in all matters except foreign relations and defence. The SAR today operates as a major offshore finance center, discreetly oiling the wheels of commerce between East and West.

These days, rather than being put off by the Chinese influence, most international investors who are attracted to Hong Kong are coming precisely because of this Chinese connection. Hong Kong is the point of access to Chinese trade, without the legal and cultural difficulties of doing business in mainland China.

Those who do not trust their own governments are reassured by the fact that under the Basic Law, Hong Kong’s foreign relations are run from Beijing. While most offshore jurisdictions humbly submit to demands from the USA and other western countries, in the case of China, the relationship is definitely reversed. Hong Kong does have a number of Tax Information Exchange Agreements (see below) but these are sensibly policed and do not allow for fishing expeditions.

Offshore Banking in Hong Kong

The region’s population is 95 percent ethnic Chinese and 5 percent from other groups, but English is very widely spoken and is the main language in businesses like banking.

One thing I like about using Hong Kong for offshore bank accounts is the same argument I have used for Panama and Singapore: it’s a ‘real’ country with real trade going on. The Hong Kong dollar is the ninth most traded currency in the world. Compare this to doing business on a small island or other remote banking jurisdiction, where everybody knows your only reason for doing business there is offshore banking. It also means that there is no problem doing your banking in cash, if you so wish.

For now the HKD, the local dollar, still tracks very closely the US dollar, but this appears to be changing as the Chinese Yuan circulates freely in Hong Kong, both in cash and in bank deposits. We think this represents an excellent opportunity to diversify funds out of the US dollar now, gaining exposure to Chinese growth in the meantime. (Of course, you can also hold HKD in banks in other parts of the world too)

Bank accounts in Hong Kong are almost all multi-currency by default, allowing all major local and international currencies to be held under one account number and exchanged freely and instantly within the account at the click of a mouse.

There is no capital gains tax, no tax on bank interest or stock market investments, and no tax on offshore sourced income. This, combined with a welcoming attitude to non-resident clients in the banks (including US citizens by the way, who are generally unwelcome in traditional offshore banking havens like Switzerland), and strong cultural and legal respect for financial privacy, makes Hong Kong one of Asia’s best offshore banking jurisdictions.

For those who want to establish a small offshore account under reporting limits, or simply to have the bank account established in view of future business, Hong Kong is also attractive given the low minimum deposits demanded by the major banks there. The minimum bank account balance can be as low as HK$ 3,000. Of course, you can’t expect red carpet, VIP private banking at this level – but you get a perfectly good functioning bank account with all the technological trimmings.

Offshore Corporate Bank Accounts in Hong Kong – Do’s and Don’ts

Typically, offshore clients choose to open accounts using corporations, as opposed to personal accounts. This not only offers greater privacy, but also flexibility and can – depending of course on how things are structured – offer significant tax and asset protection advantages.

Accounts can easily be opened both for pure offshore companies like Panama, BVI, Nevis or Marshall Islands, or for local Hong Kong companies that are set up using nominee directors and shareholders.

When contacting local corporate service providers in Hong Kong, you’ll find that most of these corporate service providers will recommend you use a Hong Kong company to open the account. The reason they do this is that it’s simpler and more profitable for them. They can incorporate a local company at low cost, opening the bank account is smoother and faster with a local company, and they can carry on billing nominee director fees every year. But it may not be the right thing for you.

Whilst it is true that Hong Kong companies do not have to pay any tax provided they do not make any local source income, administering such a company is not so simple. For example, Hong Kong companies are required to file audited accounts every year. They must file pages and pages of documents to convince the Inland Revenue Department (HKIRD) that they don’t have any local business, and, from practical experience, the HKIRD is getting much stickier about this. Long-established companies are normally left unmolested but newly established companies can expect a lot of compliance work in their first few years. Again, this suits the Hong Kong corporate service providers who charge handsomely for such services.

Another factor to consider is Controlled Foreign Corporation (CFC) legislation in your home country. (For an explanation see Wikipedia ) Many clients choose to set up LLCs as they can be treated as passthrough entities, vastly simplifying reporting requirements in some countries like the USA. Hong Kong corporations are not LLCs and cannot be treated as passthroughs for tax purposes.

My advice – assuming you don’t intend to do any business in Hong Kong besides banking and perhaps the occasional trip to visit your money – would be to open the account in the name of a company from a foreign offshore tax haven. It’s a little more work and expense at the beginning, and the bank might ask you more questions, but it will save you a lot of money and headaches in the long term. If you want a local look and feel for your company, numerous virtual office services are available.

Hong Kong Tax Information Exchange Agreements

Contrary to what you will read on some out-of-date websites, Hong Kong has signed a number of Tax Information Exchange Agreements (TIEAs). However, the HKIRD is at pains to point out that fishing expeditions are not going to be tolerated.

The HKIRD has issued Practice Note 47, available on the internet, which usefully explains how the HKIRD seek to achieve a balance between the requirements of compliance with the OECD requirements, whilst providing checks and balances to protect the rights of businesspeople.

The HKIRD are professionals and should be well positioned to deal with TIEA requests properly and justly in accordance with the treaties and guidelines. I am confident not going to allow their ‘clients’ rights to be trampled on.

Regulation of Banks in Hong Kong

Hong Kong’s Banking Ordinance was revamped in 1986. It has since undergone several amendments to improve prudential supervision. The Hong Kong Monetary Authority (HKMA) was formed in 1993 as a one-stop financial regulator, responsible for everything from banks to stored value anonymous debit cards.

The SAR maintains a three-tier system of deposit-taking institutions, comprising licensed banks, restricted license banks, and deposit-taking companies. Only licensed banks may operate current and savings accounts, and accept deposits of any size and maturity. RLBs are only allowed to accept deposits of HK$500,000 and above, while DTCs are only permitted to accept deposits of a minimum of HK$100,000 with original maturity of not less than three months.

Both these latter categories provide an opportunity for overseas banks to conduct wholesale, investment or private banking activities in Hong Kong without having to jump through the hoops of applying for a full banking license. In addition, some foreign banks have chosen to open representative offices in Hong Kong, which are not allowed to take deposits but can assist in opening accounts at other offices within their groups.

As Hong Kong is an international financial centre, it is an explicit policy of the HKMA that the regulatory framework in Hong Kong should conform as much as possible with international standards, in particular those recommended by the Basel Committee.

Hong Kong’s five largest banks, in terms of total assets, are as follows:

– Hong Kong & Shanghai Banking Corporation (HSBC)

– Bank of China (Hong Kong)

– Hang Seng Bank Ltd

– Standard Chartered Bank

– Bank of East Asia Ltd.

A full list of updated Hong Kong banks can be found on Wikipedia.

Visiting Hong Kong to Open a Bank Account

If you are visiting Hong Kong to open your account, it can normally be opened the same day provided you have made some arrangements with a local service provider, or directly with the bank, in advance. This is assuming you use one of the major banks, that nearly everybody does. You can then simply visit the bank, sign documents and receive the bank account number immediately. This will be a full multi-currency account and you will typically receive a digital token for internet banking, a password and a debit card.

The documents required for opening offshore bank account are:

1) Formation documents (in the case of corporate accounts. Apostilles are required in the case of foreign corporate accounts – your offshore provider will know how to obtain these.)

2) Bank forms and business plan/expected activity (a corporate service provider will normally supply these as part of the service)

3) Passport copies of each director, signatory and shareholder (take special note of this requirement if you are using nominee directors – if the persons are not present, copies will have to be notarized.)

4) Proof of address (such as updated bill statement which shows up your name and address) and signed (of each director and shareholder)

A bank reference is generally required if you are dealing direct with the bank. If you go through a corporate service provider, they normally write a reference so you do not need to supply a bank reference. However, if you can obtain a bank reference it is better.

Opening an account without visiting Hong Kong

It is also perfectly possible to open accounts without visiting Hong Kong (known as ‘remote account opening’) though this process tends to take substantially longer as banks will ask a lot more questions. In this case, your bank or service provider will generally e-mail you the forms, that you will need to print out and sign.

Depending on the bank, there may well be certain special instructions about how and where to sign – for example, HSBC in Hong Kong will typically request that you have your signature witnessed in the HSBC Bank nearest to you. As with all foreign bank accounts, you should be sure to use the same signature that appears in your passport, otherwise the documents will be rejected.

In the case of remote account opening the bank will normally courier the password, debit card, and token direct to your address in your home country. Then you need to activate them via the bank’s website.

Conclusion

Hong Kong competes very favorably with Singapore, the other Asian banking jurisdiction we favor. If you have not yet diversified your offshore holdings into Asia, you should seriously consider doing so. I hope this article will be helpful in this regard.

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