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Vol 21 No 11 Nov/Dec 2016

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International Charitable Foundations

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ISBN13: 9781904501015
ISBN: 190450101X
Published: June 2004
Publisher: Richmond Law & Tax Ltd
Country of Publication: UK
Format: Hardback
Price: £75.00



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This text describes the mechanics of and the basic legal framework applicable to establishing a charitable institution and explores the advantages and disadvantages of establishing foundations in foreign jurisdictions for US citizens and residents. Charitable activities can be operated flexibly and privately outside the constraints of the US regulatory regime, where the tax benefits available under US law are either unavailable or not needed, or where they are outweighed by the burdens of regulatory compliance. ""International Charitable Foundations"" focuses on practical legal and tax considerations, and includes in the appendices basic tax forms as well as templates for establishing private foundations in foreign jurisdictions.

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Contents:
Charitable giving today - size, scope, causes; fundamental concepts relating to charitable organizations - private inurement, public benefit versus private benefit, public charities versus private foundations, non-profit versus tax-exempt versus charitable; US legal framework governing charitable organizations - legal structures, US taxation; US legal constraints - private foundation rules, constraints on cross-border giving; why create a foreign charity? - the bias in US law against private foundations, advantages of a foreign charitable organization; picking a jurisdiction - law, financial services infrastructure, professional infrastructure, proximity/access to the United States, reputation, language, costs; establishing a foreign charitable foundation - US tax considerations, should the foreign entity apply for exempt status in the united states?, governance issues; representative structures - Bermuda charitable trusts, Barbados charitable trusts, Bermuda purpose trusts.