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What Type of People Are Entitled to Claim Criminal Injury Compensation?

Elliot
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What Type of People Are Entitled to Claim Criminal Injury Compensation?

Have you been injured during a criminal act? Established in the 1960s as the Criminal Injuries Compensation Board, the Criminal Injuries Compensation Authority (CICA) allows people who have been injured in a “crime of violence” to claim financial compensation.

If you’re a victim of a violent crime, you may be eligible to make a claim. Below, we’ve explained the eligibility criteria for making a claim for criminal injury compensation, as well as the best path to take if you believe you’re eligible.

What is the Criminal Injuries Compensation Authority (CICA)?

The Criminal Injuries Compensation Authority (CICA) is an institution of the UK Government that runs a compensation scheme for people injured in violent crime. In England and Wales, CICA is funded by the Ministry of Justice; in Scotland, the agency is funded by the Justice Directorate.

CICA was originally founded in the 1960s as the Criminal Injuries Compensation Board. Since it was established in 1964, the scheme has paid out upwards of £3 billion. More than £200 million in compensation payments are made to victims of violent crime every year.

The compensation scheme was reformed in September 2012. Currently, the maximum amount a victim of violent crime can potentially claim under the scheme is £500,000. Payments can be made for injuries, loss of earnings, bereavement, dependency and other conditions.

Who is Eligible to Make a Criminal Injury Compensation Claim?

The Criminal Injuries Compensation Scheme has specific eligibility criteria, meaning that not all victims of crime may be able to make a claim.

Working out whether or not you’re eligible to make a claim can be a confusing process. The UK government operates an in-depth, detailed website that covers eligibility criteria for the scheme.

In general, people who are “blameless victims of violent crime, or people whose loved ones have died as a result of a violent crime” are eligible to make a claim.

In order to qualify as an eligible victim, the person needs to be a “direct victim” of a “crime of violence.” There is no legal definition of this term in the UK — as such, the scheme provides a list of crimes that are considered “crimes of violence” for eligibility purposes.

In determining eligibility, several steps are taken. The first is establishing that a violent crime has occurred. If you or a loved one have been the victim of a violent crime, it needs to be reported to the police as soon as is reasonably practicable.

There are also residency limits on eligibility. Claimants are required by law to be British citizens, close relatives of British citizens or nationals of member states of the EU or EEC. In order to be eligible for compensation, the crime must have taken place within the UK.

The injury must have a value of £1,000 or more. Injuries can be either physical, psychological or a combination of the two. The criminal responsible for your injuries does not need to have been caught or convicted — you can still potentially make a claim if they are unidentified.

More Information for Victims of Violent Crime

The full eligibility criteria for the scheme is quite complicated, making it difficult to work out if you or a loved one are eligible for compensation. For most people, the best approach is to speak to a lawyer that specialises in making criminal injury claims to learn more about your eligibility.

Are you considering making a claim? Defence Solicitors London provide a criminal injury claim service and can help you learn more about the scheme, from your eligibility to the legal process of making a claim for compensation, you can get in touch with them here.

Top Ways to Manage Your Personal Finances

ABC Staff
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Top Ways to Manage Your Personal Finances

With busy lifestyles and the growing concern about how economic factors may affect how far your wages go each month, it is becoming increasingly important to consider your financial future and how you manage money on a regular basis. It would be great if there was a magic wand to help transform our spending and saving habits for the better but unfortunately, it is not that easy. The concept of managing your personal finances may be simple but implementing it into already stretched budgets is a more difficult task.

Check out some helpful ways to reduce your financial stress and start planning a cash healthy future.

Planning and setting goals

One of the first steps to achieving financial stability is to analyse what you are spending regularly. Setting goals for your specific lifestyle and money aspirations are key to deciding how best to manage your money. Different stages of your life require different ways of managing money so considering what stage you are at is another important factor.

Prioritising your financial goals is the next step in realising them. Some goals will require long-term commitment such as saving for retirement whereas other may be shorter such as saving for your next holiday. If you’re looking to make substantial savings, for example, purchasing a new home, considering how you will achieve this is also a part of the planning process, as substantial changes in money management may be required.

Sticking to a budget

Once you’ve set your goals and decided on the best plan of action in bringing them to fruition, creating a budget will bring you another step closer to successfully reaching them. Budgeting is one of the harder aspects of money management and may call for an end to overspending and keeping a clear record of how much is spent each week. Long-term goals will require keen commitment to saving for retirement or a first home will require a significant savings pot.

An important factor to consider when budgeting regularly is to remember this is not something that is punishing you, although it might feel like it at first. This goal is set to make a clearer and healthy relationship with money and build on your life success for a stable financial future. Just remember to look at the end goal and concentrate on this exciting step to achieving it.

Getting out of debt

If you have a debt hanging over you, no matter how hard you try, you may be stuck in a debt spiral. Saving for long-term goals with debt can be a struggle and it is sometimes best to focus on clearing it before you start a serious savings plan. Eliminating debts can be tricky if you are struggling for cash but trying to clear credit cards more quickly, resolving unsecured loans and getting back into the black on overdrafts will help to put you in a better position.

Ways to help increase the amount you can put towards debt include:

  • Considering a second job in the short term can help you put this money into further debt payments.
  • Sell unwanted items and release some money from things you no longer use
  • Tighten budgets to release further funds for your debt payment plans

If you have considerable debt, you may feel overwhelmed and do not know where to start in the process of trying to clear it. In these situations, don’t be afraid to ask for help if you are struggling with money management. There is a host of resources and debt advice available for anyone looking to resolve their financial issues. Debt payment plans, financial planners and using budgeting software are some of the ways to control your finances and start getting ahead for future wealth building.

If you’re looking to start making changes to your financial future, taking simple steps can help you achieve your goals and ensure you lead a healthy and happy lifestyle for years to come.

 

What impact will GDPR have on SMEs?

ABC Staff
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What impact will GDPR have on SMEs?

The General Data Protection Regulation is set to shake the marketing industry.  As its implementation date looms (25th May, 2018) some businesses are still a little confused with regards to its impact.  Here, the direct marketing experts at Romax give us the low down….

 

 

 

 

What Are the Best ePayment Options for Playing Poker Online?

ABC Staff
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What Are the Best ePayment Options for Playing Poker Online?

When playing poker online, once you feel confident enough to bypass the practice games, it’s time to start playing for actual money. But the way money transfer works when playing online can send some running for the hills. In fact, it couldn’t be easier when it comes to transactional payments when playing poker online. With the rise of many payment options, as well as the cryptocurrency, which helps ensure a greater degree of security, there are several secure payment methods. Choosing an online payment method is determined by exactly what you are using the payment for, with each provider specialising in a different area. Here is a rundown of the most popular and secure payment options for both playing poker online and a range of other transactions.

Online payment options in 2018 go beyond credit and debit cards

Skrill

Skrill allows money to be transferred from online sources to a bank account. Benefits include the zero fees for money transfer and the competitive rates for foreign exchange, which can benefit those playing online in other domains. Skrill is a popular option for playing poker online due to the high level of security placed in your digital wallet. The anti-fraud team are on hand for every transaction, which can be quite large depending on the poker wins, and vary based on poker game chosen, from 7 Card Stud to Omaha Hi-Lo. Skrill is a complete digital wallet, which combines store cards, credit and debit cards, and online transactions to ensure everything is in one place, which is beneficial for those who may need greater control over their money.  Skrill’s benefits lie in the range of payments that can be completed through the system, which include Bitcoin and most major credit card providers. For beginner players, Skrill can be beneficial for the initial free play money that some poker rooms offer for new accounts. So, Skrill is a service of choice for poker players in order to have their money sent directly to their accounts when they win the jackpot.

Mastercard and Visa

Mastercard and Visa are household names when it comes to making payments, and their indelible reputation around the world stands them in good stead as a strong contender to choose for making online transactions. The insurance offered for larger purchases places Mastercard and Visa as transaction options for big ticket items such as white goods, pricey electronics, or larger items from overseas. Transferring this to playing poker online, the transaction is more likely to be protected, especially for larger payouts. The worldwide acclaim also tells both sides of the transaction that the payment can be trusted and will go through without issue.  Chargeback allows money to be recouped from your bank should the purchase not be delivered, which gives greater peace of mind as a means of transaction. In its current form, MasterCard has been around since 1979, previously known as InterBank and Master Charge since 1966, as a multinational financial services corporation, which adds to its reliability as a business. While Visa was founded in 1958 as BankAmericard, also adding to its established roots in society as a dependable payment option.

Online payment options can vary based on the transaction

Paysafecard

Paysafecard bill themselves as a provider of payment for entertainment services – from music and film to gaming and social media. Encompassing aspects of payment that millennials will be more likely to use goes hand in hand with the cashless society that the future is promising. Paysafecard involves the purchasing of a pre-loaded paysafecard, which will then be used to pay for things online. The benefits are the greater security because it minimises your bank account’s use online as well as only being able to have the amount of money taken that is the card balance – so no extra money can be deducted from your bank account for any reason. Paysafecards can be bought as WHSmith, ASDA, PayPoints and various One Stops and McColl’s around the country, which legitimises their use online. Paysafecard can be used for social media purchases, such as in-app Facebook purchases, which one may not want to have linked to their bank account. Paysafecard also includes the draw of the myPLUS rewards, a loyalty scheme for customers for the more they use the service. In keeping with their gaming and social market, rewards include money off Steam games, Skype use, and even League of Legends. Paysafecard may be a more niche market for paying online, but they are definitely one that spends a hefty amount on online transactions. Paysafecard is therefore quite a good option for playing poker online, as online gaming is a speciality here.

Paypal

Perhaps the most well-known name when it comes to online purchases, Paypal is used as the preferred method of payment in e-retail giants Amazon and eBay, as well as offered as an option on almost every online transactional site. Paypal’s security is a huge draw for users and the protection consumers feel through the brand and the safeguarding of their bank account through the service helps explain how it is so popular. Paypal is as beneficial for a business, with their merchant services division as they are for individual consumers, which helps offer parity across the board in the financial services offered. Reviews on Card Payment Options are generally favourable, giving Paypal a 3.8/5 for their services. Although reviews should always be considered subjective, as those with unfavourable experiences are more likely to leave a review. Paypal’s marketing division is perhaps more effective than its competitors and Paypal as an alternative way of payment is a household expression. Paypal’s greatest asset is therefore the widespread use of the service from smaller vendors to large companies, which ensures your finances are all monitored and secured from the same platform.   

When making any online transaction, from playing poker online and receiving winnings from a live Texas Hold ‘Em tournament to making large white goods transactions by finally replacing the fridge and to opting for alternative currencies such as Bitcoin, there are a variety of online payment methods to choose from. It’s important to consider the benefits as they apply to the kind of transaction you may make, as well as the general reputation of the company both in the global marketplace and from peers and other users. Ultimately, the payment method will likely change, and as we move into a more digitised world, payment methods may even be completely different in just a few short years’ time.       

 

Best value for money events in 2018

ABC Staff
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Best value for money events in 2018

When looking for the best value for money events to attend, value for money doesn’t necessarily mean the cheapest event you can go to.  When picking an event you want to consider how much bang for your buck you’re getting.

You can pay a small fortune to go to some sporting events (cough cough, a Premier League Football match), which only last 90 minutes. However, there are brilliant events all over the country that provide atmosphere, fun, intrigue and something different.

Here’s our list of the best value for money events in 2018…

Edinburgh Festival Fringe

CC-BY-SA-3.0 (http://creativecommons.org/licenses/by-sa/3.0/) or CC BY-SA 2.5 (https://creativecommons.org/licenses/by-sa/2.5)], via Wikimedia Commons

3rd – 27th August

The home of over 50,000 performances and heading for more than 3,000 shows. The Edinburgh Festival Fringe takes place over three weeks every August.

This is the world’s biggest arts festival and it’s the place to go for dance, stand-up comedy, theatre, spoken word, opera, art exhibitions, circus, and more.

Tickets are purchased for whichever acts you would like to see, so do your research.   Each show/ performance is individually priced (averaging £10 per performance) so make sure you have a rough plan for each day otherwise you can end up spending money on performances you wish you hadn’t.

However, if you are willing to just put yourself out there and try new things this is the place for you. If you’re lucky you might see the next Peter Kaye or Ricky Gervais for just a few quid.

The Fringe does provide you with the perfect opportunity to explore the city. Edinburgh is stunning and well worth a visit so why not kill two birds with one very dramatic stone?

Grand National

14th April

Horse racing is the most stylish way to celebrate sport.  You don’t get to put on those platform shoes, top hats and fascinators at Wembley Stadium!

The Grand National is like no other horse racing event in the country.   It is the longest horse race in the Country at two and a half furlongs. The distance alone guarantees you value for money when compared to some of the shorter races that take place on other tracks around the UK.

The bookies take some incredible bets on the day with nobody batting an eyelid at £50,000 each way bets. But, you don’t have to be a millionaire to enjoy the thrill. It’s just as exciting places your £1.00 to win bet and then cheering like a banshee from the side lines.

Everyone has heard of Red Rum (no not from The Shining), the legendary triple-winning, formidable horse.

Over 600 million people watch the event live at home. 40 horses and jockeys line up to race across the famous fences including Becher’s Brook, Canal Turn, Valentine’s and The Chair.

You could be at Aintree to witness the drama unfold in person and to watch the hero come through at the end.

Tickets start from a bargain £29 and if there are more than seven of you a discount of 10% can also be claimed.  How often can you get a full day out with incredible sporting action, live music and the possibility of having that winning feeling for under £30? A keen eye can also spot some more favourable Grand National Odds with the on-track bookies.

The RHS Chelsea Flower Show

By muffinn (https://www.flickr.com/photos/mwf2005/14098177757/) [CC BY 2.0 (http://creativecommons.org/licenses/by/2.0)], via Wikimedia Commons

22nd – 26th May

Now timing is everything for this beautiful show. Trying to get it when the crowds aren’t too full-on, the weather being dry and sunny, and the flowers at their peak can be a fine art. However, to be perfectly honest it isn’t worth worrying about.

The event is stunning. Even if you are damp, chilly and being herded like cattle, the incredible displays will still awake your senses.

Our top tip is to be to become an RHS member before you buy your tickets. This will allow you access on a discounted ticket price.  You can become a member for £47.50 with the cheapest tickets available for £29.00.

There is a lot more than flowers and plants at the flower show, including food, drink, retail, shows, etc, which is why demand for tickets is high every year.

Be prepared to get garden inspiration by the wheelbarrow load. You’ll will be rushing home to get your Titchmarsh on in the back and front garden.

The Royal Wedding

19th May

You are cordially invited to the marriage of HRH Prince Henry of Wales and Megan Markle.

This is a date for your diary, a day when the nation will come together to give the happy couple a ‘right Royal knees up’

If Harry and Megan’s wedding is anything like previous Royal events, Windsor and London will transform into one big party for the day. So, why not dig out your Union Jack and take to the streets  to enjoy the atmosphere. The UK has been a little short in national pride of recent years but events like this make everyone feel good.

If you can get to Windsor the atmosphere is sure to be buzzing. Local residents are also taking full advantage of the upcoming nuptials and renting out their properties for over £15,000 per night, so be sure to pack your tent or have your taxi or hotel pre booked. Although the day itself is a freebie, hotels and restaurants will be cashing in on this once in a lifetime event. But, you can still find the odd bargain and now is the time to get booking.

 

Boomtown Festival

9th – 12th August

Yes, large festivals are notoriously expensive with tickets normally starting from around  £200. BUT, with most concerts now charging anything upward of £40 for a position in the nose-bleed seats, just to just see one act, festivals are definitely the best way of seeing some of the top performers crammed into one weekend.

With Glastonbury not on this year, Boomtown takes the crown for value for money.  There are still tickets available through resale tickets sites and the line up this year is pretty incredible from Soul II Soul through to Goldie & the Heritage Ensemble with literally everything in-between.  Boomtown is celebrating its tenth year and we think this will be an anniversary you won’t want to miss.

Let’s just hope there are no car-park fires this year!

The tickets are priced in tiers, Tier 1 (£155*) Tier 2 (£170*), Tier 3 (£195*)

How to Choose the Best Conveyor System for Your Business

Elliot
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How to Choose the Best Conveyor System for Your Business

A conveyor system is a piece of equipment that is used to package or move products within a business. When most people think about conveyors, they imagine the heavy machinery used in industries. While this is partially true, even small businesses use conveyors for ease of packaging and transporting products. Conveyors are extremely useful in companies that manufacture and produce products in diverse industries.

Unlike ordinary conveyors, industrial ones are built with heavy-duty materials to withstand the intense workload and ensure long-term use.

What to consider when buying a conveyor for your business.

Apart from costs, there are other important aspects of a conveyor.

Speed – how many products do you need to be moved in a minute or an hour will depend on the speed of the system.

Power – the size of the motor determines the power of the machine which determines speed and workload. There also those that can be moved manually.

Noise level – if you are in a residential area then you can’t buy a noisy system or else you will get a visit from environmental regulatory bodies.

Size of the conveyor – the size of the room where you plan to use is also crucial. It should be spacious enough to allow movement when a conveyor is installed.

Operational costs – you will need to maintain the conveyor regularly to prevent breakdown. A system may be cheap, but then the operational cost becomes too expensive. You would rather buy an expensive one that will cost less to maintain.

Types of Conveyors

There are many types of conveyors for a wide range of business uses available in the market today. Here are just some of the common ones:

  • Slat conveyors – They use wood or steel to convey products. They are most suitable for heavy and large items like drums, steel mills or pallets and crates. Built for industrial use, they can withstand constant wear and tear.
  • Belt conveyors – These are the most common of conveyors in most companies. They are utilizing a continuous belt to move the product. Just as the name, they come in different belt types, length, and width.
  • Beltless magnetic – These conveyors use magnets that are stationed below the tables to transport magnetic products. They come in different shapes and sizes.
  • Bucket conveyors – They used to deposit materials in a bucket-like container in the intended measurements during production. Most of them can be positioned at different levels when needed.
  • Overhead conveyors – specifically used to hang materials for cooling or drying purposes.
  • Other significant types of conveyors are; powered roller, screw, wheel, drag, chute etcetera

The Benefit of Identity Access Management to a Business

Elliot
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The Benefit of Identity Access Management to a Business

Identity access management (IAM) is an IT tool that enables authorized persons to access business resources when needed. It only allows the right people to use the enterprise premises and IT resources. Previously, companies used on-premise IAM, but with the continuous integration of cloud-based services, it is now possible to combine both frameworks.

Security within an organization cuts across diverse department within an organization; from finance to administration and even human resource management, it can become disastrous when confidential information falls into the wrong hands. Suitable IAM services should address security issues while at the same ensuring that the framework does not hinder the effectiveness of business activities. Here are some of the benefits of integrating IAM strategies into your business:

Enhance security

Large and small businesses experience both employee turnover and interdepartmental transfers. What happens when the employee leaves but they still have access to company’s confidential information such as sales, targets, strategies, legal issues? Well, former employees can share with competitors or use it in any way they feel like. IAM platforms enable the IT staff to delete or block such users when they leave the company or get transferred to another department.

Increase business value

It can also provide an opportunity for employees to share information across departments and branches located in different locations. Users working on the same projects can all be grouped under one IAM platform to share data and research results thus increasing collaboration with other companies.

It is actually cheaper in the long for a business to use Identity management services. The management does not have to worry who has access to what. Putting up IAM strategies makes it easy to run the business without security or reputation concerns.

Boost employee productivity

With businesses outsourcing their services to remote workers all over the world, it is no longer a necessity to report physically to an office. Even permanent employees can access company’s details when they are not in the office. A robust IAM service helps a business to allow such employees have access to only the required information. They can, therefore, finish assignments and submit them wherever they are in the world. This is just one example of the many ways that IAM can help to boost productivity!

Reduce IT workload

In the past, IT workforce had to go through each user in the organization to determine who has access to what and who doesn’t. But with IAM they can classify users according to roles, departments and even rank to determine accessibility to resources automatically. It is also much faster and easier to use IAM software that depends on humans for authorizing accessibility to resources.

Compliance with industry standards

Noncompliance with regulatory bodies such as FCA, GDPR, and the Data Protection Act can lead to fines and even closure of the business. An automated system helps companies to have access to detailed reports to show their compliance to set rules and regulations when needed. IT staff can also monitor and audit how users’ credentials are being operated. In case an employee credential is comprised then they can quickly identify when and who was affected and make the necessary changes.

Some advanced IAM solutions also restrict access based on user’s location and time of day. This a unique feature that helps business makes the process of identifying users easier.

Although an IAM service can be seen as costly, the benefits outweigh the costs. It will only be an expensive project if it does not fulfill the security needs of the enterprise. Companies should, therefore, identify IAM strategy that is easy, fast and secure to use and revoke but still in compliance with regulatory bodies.

How to Close a Company in Italy

Elliot
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How to Close a Company in Italy

There are many reasons to close a company, from declining profits due to industry conditions or new competition to a change of opinion about the company’s direction as an investor, partner or business owner.

Closing a company in Italy is a relatively simple process, although there are several legal steps you’ll need to follow in order to legally dissolve the business and remove it from the register.

Italy has a civil legal system and is a member of both the EU and the EEC, meaning that many of its laws are similar to those of other European countries.

Below, we’ve listed and explained the various options available for closing an Italian company, which range from voluntary liquidation to compulsory liquidation at the request of a creditor or court.

Closing a Company Through Voluntary Liquidation

An Italian company can close and wind up voluntarily at the request of its shareholders. This form of liquidation is called a voluntary liquidation. As its name suggests, it’s used when the owners of a business wish to close it and liquidate the company voluntarily.

There are a variety of reasons to use the voluntary liquidation process. The business may no longer be as profitable as it once was, or the shareholders might simply no longer wish to run the business for personal reasons.

In order to close a company through voluntary liquidation, the company’s directors will call a shareholders’ meeting. The meeting must be attended by a public notary. During the meeting, the shareholders decide on and appoint a liquidator to close the company.

Once the liquidator has been appointed, they will begin the process of liquidating the company and paying any creditors.

Closing a Company Through Compulsory Liquidation

If an Italian company has excessive debts that it cannot pay due to cash flow issues or financial insolvency, it can be closed at the request of creditor through a legal process called compulsory liquidation.

Compulsory liquidation can also be launched by a prosecutor or court, such as when a company has been found to have engaged in illegal activity.

The compulsory liquidation process is more involved than the process of closing a company via voluntary liquidation. The company’s shareholders are legally required to provide three years of financial records to the court, in addition to a list of creditors and summary of activities.

During this process, the company is declared bankrupt by the court and enters into receivership, with the court-appointed receiver assessing the value of its assets. A liquidation calendar for the company is established and the company’s assets are used to repay creditors.

Other Italian Company Closure Information

Depending on the size and complexity of a company, both voluntary and compulsory liquidation can take some time. Often, it can take several months or years to finish the process of closing a company in Italy and striking it off from the Italian Commercial Register.

During this period, the company is considered to be “pending dissolution” and is not yet formally or legally closed.

There are also specific company closure cases in Italy classed as extraordinary liquidation, or “amministrazione straordinaria”. This process is typically reserved for large-scale bankruptcies, such as the failure of major companies considered to be of national importance.

How to Start a Business in the Netherlands

Elliot
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How to Start a Business in the Netherlands

As one of Europe’s most prosperous countries, the Netherlands is an excellent place to start a business. A strong legal system, diverse and robust economy and international culture all make the Netherlands a good “base” for entrepreneurs, investors and business owners.

Like most countries in Europe, the Netherlands offers several different company types. These each offer different benefits and are intended for different types of businesses — some suit two partners, while others are the Dutch equivalent of a limited liability company.

In this guide, we’ll explain how you can start a business in the Netherlands using one of these options, either independently or through the use of a company formation agent.

Business Types in the Netherlands

There are five primary types of businesses that can be formed in the Netherlands. Of these, the Dutch “BV” is the most commonly used option for foreign entrepreneurs. We’ve listed all five of these company formation options below.

Dutch BV

The BV, or “Besloten Vennootschap met beperkte aansprakelijkheid”, is the Dutch equivalent of a private, limited liability company. It shares many legal characteristics with an LLC in the USA, or an Ltd. company in the UK.

A Dutch BV has a minimum share capital of 1 EUR, making it inexpensive to open and ideal for small businesses. The company is owned by its shareholders, making it suitable for companies with multiple investors or founders.

By law, a Dutch BV must have a local company headquarters and meet certain regulations with regards to its Board of Directors. These two issues that can be managed by using a company formation agent.

Because of the legal benefits this company type offers and the relatively low cost of setting up a company, the BV is the most common company type in the Netherlands.

General Partnership

A General Partnership is a business with two or more partners operating via the same business name. The two partners share ownership of the business and its profits. A general partnership is not a limited liability company — instead, the partners have unlimited liability for its debts.

Opening a general partnership has certain advantages, such as the fact that no share capital is required. However, it also has significant downsides, such as the risk of the partners’ personal assets potentially being used to repay creditors if the partnership becomes insolvent.

Limited Partnership

A limited partnership is a different type of partnership in which one partner is responsible for the partnership’s management and liabilities, while a second “silent partner” provides the business’s finances.

Limited partnerships are called ‘commanditaire vennootschap” in Dutch. In this partnership, the managing partner is personally liable for the partnership’s debts, while the limited partner is only liable for their investment in the partnership, provided they do not act in a management role.

Professional Partnership

A professional partnership is an alternatively form of partnership in which several partners work alongside each other under one name. This type of business is called a “(maatschap)” in Dutch and is typically used by self-employed service providers such as lawyers or accountants.

Public Liability Company

As in other countries, a public liability company is a company that has shares freely available for the public to purchase and trade. This company structure is typically used by large companies in the Netherlands with significant investments.

How to Open a Business in the Netherlands

Starting a business in the Netherlands is a very transparent process. The Dutch government operates a complete online guide for would-be business owners, covering everything from the residency status requirements to selecting a trade name, paying taxes and more.

However, the easiest way to open a business in the Netherlands is to work with a Netherlands company formation agent. These agencies specialize in helping non-local entrepreneurs open and operate Dutch companies and can provide expert advice on the best options for you.

Crucial reasons you should consider investing in coloured diamonds in 2018

Sam Allcock
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Crucial reasons you should consider investing in coloured diamonds in 2018

In the current global economy where market prices can suddenly dip or surge, and investments can either soar or go sour, it is best to find investment options that offer better stability and peace of mind. With such an investment, you can rest easy knowing your profit margin is safe regardless economic woes. One particular investment that offers more stability than most is the diamond market, especially the coloured diamond market.

Coloured diamonds possess investment characteristics that other commodities or even other classes of diamonds can’t offer. And if you aren’t convinced, below are some of the reasons why you should consider trying your hand on the 100% legal coloured diamond trade;

  1. Global recognition

Diamonds are recognised worldwide for their value, and fancy coloured diamonds are even more so. Everyone from entrepreneurs to royalty want coloured diamonds same as they’ve wanted them for years and you can cash in on this high and unwavering demand.

  1. Portability

Because of their small size, you can transport diamonds at small cost and with ease to practically anywhere in the world. The low shipping fee equals maximised profits.

  1. Long term growth

According to Rav Dhillion of Argyle Bonds, “investing in coloured diamonds can be far more profitable than investing in regular colourless diamonds.”

The monetary value of coloured diamonds has witnessed a steady rise over the past three decades. This makes these little gems a great investment today whose value will likely only appreciate as the years pass.

  1. Value retention

Unlike colourless diamonds, fancy coloured diamonds do not have a fixed price. This is because their market value is more often than not determined by the selling prices at auction houses. The value of coloured diamonds are also determined by the rarity of their colours and because the sources of naturally coloured diamonds are limited, their scarcity is only likely to drive their value further upwards.

  1. Durability

Same as with all diamonds, coloured diamonds are exceedingly durable which means you don’t have to worry about them bruising, breaking, tarnishing, rusting, or expiring. This is an advantage very few commodities that are investment worthy can offer. Being one of the hardest elements available on earth, a single coloured diamond can withstand the harshest environmental situations and roughest treatment which means you need worry very little about the integrity of your stock during shipment.

  1. Rarity

Coloured diamonds are even rarer than regular diamonds. They can only be sourced for in a handful of mines around the world and most of said mines are already running out. Certain diamond colours such as Fancy Intense Violet are exceedingly rare and its value is such that you can practically name your price for it.

  1. Privacy

Because of their size and portability, you can safely store diamonds anywhere with no one being the wiser. They also require no reporting for tax purposes in most countries.

  1. They are simply beautiful to behold

The beauty of a coloured diamond, especially certain shades, is indisputable. And because that beauty can literally last forever and is recognised worldwide, coloured diamonds are a highly beneficial investment option which can be marketed and traded in any country to a variety of individuals.

Conclusion

Fancy coloured diamonds will not be around forever which means the sooner you get in on the ground floor the more you can profit from the commodity. If you are extremely shrewd, you could acquire a load of coloured diamonds today and hoard them till their rarity is at its height. This would be a long term investment tactic that could fetch you not just great wealth but also fame.

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