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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.

The Best Dressed Women

ABC Staff
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The Best Dressed Women

When it is about fashion, some famous and smartly dressed women often come to mind. They are celebrities, singers, stylists, journalists or entrepreneurs who have an impeccable style. It is definitely a plus to their popularity and success. Let us take a look at some of the best dressed women in the fashion world.

Cate Blanchett

Known for her excellent red carpet looks, Cate Blanchett likes to innovate with her outfits. The award-winning actress does not like to limit her style to any typecast, but she seems to have a preference for bold details and structural silhouettes. She is said to be a fan of Alexander McQueen, Armani and many great high-end fashion labels like Valentino. She also entertains a good relationship with the Australian fashion house, Romance Was Born.

Eva Rinaldi – Cate Blanchett
AACTA Awards Sydney, Australia. Released under CC licence via Flickr

Elle Macpherson

With jeans and simple t-shirts, who would believe that it is in fact the 53 year-old Elle Macpherson? She is one of the world’s biggest models whose life is mostly spent jet setting from one location to another. So, her wardrobe is designed to suit her busy schedule. For example, when she is on the road, she wears jeans created by Isabel Marant with t-shirts and high sandals. Since she has a great silhouette, she can easily fit in lovely gowns with boho detailing when she is on the red carpet.

By Manfred Werner – Tsui (Own work) [GFDL (http://www.gnu.org/copyleft/fdl.html) or CC-BY-SA-3.0 (http://creativecommons.org/licenses/by-sa/3.0/)], via Wikimedia Commons
Emma Watson

Meet the English actress, model and activist, Emma Watson. Starting her career as Hermione Granger in the Harry Potter series, she is known as one of the most stylish stars these days. As a fashion icon, she began her modelling career in 2005 for Teen Vogue. When she poses on the red carpet, she looks stunning in lovely gowns from famous designers like Dior, and SUSI Studio Hey Simone sandals. Despite her simplicity, she still looks very stylish and feminine.

Georges Biard [CC BY-SA 3.0 (https://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia Commons
Victoria Beckham

Revisit the Spice Girls with Victoria Beckham. A successful businesswoman, fashion designer, singer and model, she is known for her classic and posh style. She is often seen in powder blue pants and a white tee when she hit the streets of New York. She always looks stylish even if she wears gowns, pants or casual dresses.

Once, Victoria Beckham even surprised everyone by wearing a pair of pink plaid pyjamas while shopping, and this outfit still rocked! Meet other posh style icons and powerful women on fashion themed slots at Ruby Riches online casino, such as Cleopatra Slot. Ruby Riches is an original online casino launched in 2017, which offers a variety of games for all tastes. With ruby and gems in the background, this site also has a posh feel to it.

By Darkness Blackheart from Mystery Babylon, Infinita (IMG_0354) [CC BY 2.0 (http://creativecommons.org/licenses/by/2.0)], via Wikimedia Commons
Catherine, Duchess of Cambridge

Duchess of Cambridge and wife of Prince William, Catherine Middleton is also known for her distinguished and sophisticated look. She is part of various “best dressed” lists. While she loves outfits by various designers, she also wears dresses by Catherine Walker who designed Lady Diana’s favourite evening gowns and day suits. Recently in 2016, she participated in her first magazine shoot for Vogue’s centenary issue, on the cover of the magazine.

By Duchess_of_Cambridge,_16_June_2012.JPG: Carfax2 derivative work: Surtsicna [CC BY-SA 3.0 (https://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia Commons
Thus, these famous women are not only known for their unique and posh styles, but also for their successful careers and charity works. In the celebrity world, there are many women who are always stylishly dressed.

How to improve your finances?

ABC Staff
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How to improve your finances?

At one time or another, everyone has probably struggled with money. It can be complicated to know how to start monitoring and managing your spending. However, there are easy steps you can consider getting on the road to financial success and independence.

Here are some elements which you can consider right now, to improve your situation:

Outline your Financial Targets

The first thing to do is to set financial targets, to be able to efficiently manage your finances. Do you want to visit your dream place? Pay off your debts? Or start saving for a house?

Setting objectives can help you stay attentive and encourage you to minimise excess spending. Adding limits to your ambitions also give you a timeline to work with, forcing you to stick to it and prompting you there’s an end in view.

You will also need to create a visual, that will help you stay updated on your success. For example, a progress bar taped to your fridge. You will be more motivated to spend cleverly as you will see for yourself moving forward on the way to the finish line.

Organisation

Being organised is a vital step you need to consider, for a better financial life. First of all, set any bills you can to autopay. Sometimes, when someone misses a payment, this could be detrimental to your financial future and credit. You need to make sure all the bills are paid on time.

Plus, you need to be vigilant of how much money you currently have in your accounts, including savings. In life, everyone gets emergencies. In fact, they are part of life which no one can ignore. On top of that, they happen so often when you least expect them. It is therefore very important to be prepared. According to several experts, an individual need to save for at least six months of living expenses. This is to make sure of the financial stability, without depending too much on credit cards.

Make a Budget

The basic of budgeting is to know exactly where all your money goes. You have to track every cent for a month such as, food, utilities, rent etc. Even counting your breakfast or favourite happy hour drinks. You should try using one of the many spending trackers to ensure this process is as smooth as possible.

Depending on your spending, make a budget by deducting all your bills and purchases from your earned income. If it happens that you are earning more than spending, congratulations! The extra money can be put away towards your other financial targets or savings.

Even when you play online, at sites like Bingo Extra you get to control how much you spend. The site offers limits that you can set daily, weekly or even monthly. That’s up to you to decide after planning your budgets.

Capitalise on your Money

Whether you are having excess income or overspending, it’s always a good idea to capitalise your money and reduce extravagant spending. Adding little things up can impact finances in a big way. You should get rid of the magazine that you never read or gym membership you never use. By trimming spending and excess waste, you will be surprised by the additional money you never knew you had. And that too, the money which can put towards your financial aims.

Everyone has perhaps fallen on tough times, and it probably won’t be the last. With a lot of discipline and a little planning, you can enhance your financial situation. The best tip is to always set up a proper planning and tally up your budget as it stands!

Guide to Budget Issues and Comprehensive Planning for SMEs

Elliot
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Guide to Budget Issues and Comprehensive Planning for SMEs

In today’s business world, SMEs face many issues – including producing a comprehensive budget. Financial management is crucial to the success of your company, and you must have great knowledge of your company cash flow and the specific industry of your SME. Without this detailed information, it could spell failure and even the severe consequences of company insolvency. Business Rescue Expert, leading insolvency practitioners in the UK, are sharing their tips to budget planning for SMEs.

According to the Insolvency Statistics – October to December 2017, the number of companies entering insolvency increased by 4.2%, compared to that of 2016. An estimated 17,243 UK companies faced the insolvency process, with even more businesses expected to enter the formal proceedings next year. For many, this will be the result of poor financial management. Managing growth, change and funding are said to be a primary issue for SMEs, stated in recent reports. Without a realistic and adaptable budget in place, you cannot plan for a healthy and profitable future.

Sales Estimate

For businesses that are already established, a comprehensive look back at previous sales is essential for your budget plan. Take a look over the past several years to produce an in-depth forecast, including specific times of the year – peak periods, seasonal periods etc. This data will provide an extensive insight into where you succeed in revenue, and where you need to improve financial planning.

As a startup SME, existing consumer data will not be readily available. However, you can analyse your competitor’s accounts and successes, filed at Companies House. In turn, this will allow you to understand the market and enable you to make any necessary changes to your budget. You should also look into purchasing an industry analysis from a data research tool. There are plenty offering free services, and you could look into the likes of Plimsoll to provide a basis for your sales estimate and, subsequently, company budget.

Expenses

It may seem like we are stating the obvious, but all expenses need to be taken into account. This also includes one-off purchases, such as licensing or software, that may seem insignificant. All financial information available will create an accurate budget.

Again, if you are a startup, this information can be found online. Research your competitors and their online accounts to analyse the time before your company is expected to make a profit. Industry standards and marketing trends will also work as a guide as you produce the budget. A specialist accountant within the industry will have expert knowledge of your specific market, so it may be worthwhile looking into their services.

Peer Groups

Connecting with peer groups within your industry provides endless benefits. You can build your network and relevant connections to aid with the growth of your business. Staying active in these peer groups will ensure you collect vital information for trends in the market, while identifying any changes that impact your sales and budget.

Match your Headings

You can work to create a realistic budget with the costs and insider industry information available. However you find this information, whether from your existing consumer database or research accounts from competitors filed at Companies House, you must ensure your budget income and expenditure subheadings match up exactly with the layout of your company’s management accounts. To do so, you can use the services of cloud based systems, such as Xero and Quickbooks, boasting excellent facilities to help prepare the initial budget draft. Once these are in order and aligned, you can regularly compare costs with your budget and amend efficiently in response to any market changes that could affect your cash flow.

Seek Advice

Advice is essential to getting your SME budget off the ground and into a realistic plan. Established companies boast the benefit of staff members with financial responsibilities, meaning you can gain insights into their day-to-day knowledge of the cash flow, as well as information on targets, costs and production. These additional insights will only strive to strengthen your budget and, most importantly, make it achievable.

If you are struggling to put together a comprehensive budget, financial advisors, accountants and even business mentors can share vital knowledge and review the draft of your budget. Again, these services will not be free, but can mean the difference between a successful future and, possibly, insolvency.

Ultimately, creating a budget taking into account all factors will help improve your chances of making a profit.

What a corporate office design can say about your business

Elliot
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What a corporate office design can say about your business

An important element of a business organisation is the design and appearance of its corporate offices. The working environment defines the nature of the work that takes place inside the building and the way your company operates and also indicates company standards. Each space will have a unique purpose and the best designers take that into account.

The office design you opt for should factor in what you do and the personalities of the people who work in that space to enhance their productivity. Let your office space stand as a representation of your business brand and what you offer to your customers. Do not underestimate the influence that the design of your office can have, not only on how your staff will work but also how the public will react to your business.

There are office designs that have become popular for what they say to clients and the public about a business. By choosing one of those, many companies benefit by being able to use a design to promote their brand image to the world. If you are just beginning to work with graphic design and want to save your money on programs, the best choice for you will be to use free graphics software.

Modern office design

A contemporary corporate office design is increasingly popular with businesses. It will typically include high-end finishes to the building itself as well as the furniture used by staff. Classic materials used in such designs include quality, toughened glass for aesthetic appeal and security. The Wholesale Glass Company is just one organisation that provides this type of outstanding glass to businesses wanting the modern look.

Space is left uncluttered and stripped back to allow for work to progress with no interruptions. It also creates a very fresh look that inspires the staff inside and impresses the outside world.

This type of design is very prevalent in financial institutions where the many private offices and meeting rooms perfectly suit the confidential nature of the business that is conducted there. Regarding what it says about your business – the overriding impression conveyed is that of honesty, professionalism and dedication to work.

Open-plan design

At the opposite end of the spectrum, we have the open-plan office design. That is more popular in collaborative sectors such as marketing where colleagues benefit from easy interaction with one another. These spaces see traditional offices or cubicles replaced with large, open spaces. Hot-desking can also be a factor here as it allows workers to move around to where they need to be that day.

This type of office will be light and bright due to the larger, open spaces involved. There will often be bright colours involved too as this helps to stimulate creativity. Big communal spaces to meet and exchange ideas in are also heavily featured in this design. By opting for this look, you are signalling to all that you are a creative, energetic place that values the exchange of ideas to produce new things.

Scandi design

One of the significant trends in all design sectors at the moment is the Scandi look. Such an office can be a very pleasant environment in which to work. The main principles here are a clean look with natural elements, such as the use of wood and sympathetic lighting. Subtle bursts of colour are also well worth using although not too much. The real goal is to create a sense of intimate space and a serene working atmosphere. If members of the public come onto your premises, it will also give them that impression.

This design is perfect for sending out a message to people that you are a business that can be trusted and is reliable. Many commercial units will, therefore, go for this look as will other work sectors such as call centres. If you want to demonstrate that you are a company to be trusted, this is a great office environment to try out.

Eccentric office design

Quirky detailing and bold, bright furniture are the hallmarks of this office design. It will give your premises an eclectic look and mix of styles that make it stand out. This design is great for any business involved in the arts as it is showy and full of creativity. This is one of the best designs for being able to show off a fun, irreverent business brand, if that is what you want to do.

With this is mind, it is beloved across the artistic sector from graphic design agencies to fashion designers. It says that you are a business that is different, unique and not afraid to make an impression! This will help you attract clients who are looking for a business that offers just these qualities.

Industrial office design

More companies are now embracing the Industrial look when designing their offices. This has challenged the traditional conventions around office design by using exposed brickwork and pipes. Industrial metal fixtures and exposed floorboards are also a feature of this office look.

Not surprisingly, many companies involved in the design and construction sector have begun to utilise this approach for their office environment. Other organisations in different sectors have also incorporated elements into their offices too as it gives a bold, urban look. By using this design for your office, you will be signalling a company that is connected to their environment but is also energetic and ready to do things differently.

Creating the right office environment is vital

Taking the time to consider the office environment within your business premises is essential. Not only will it allow you to set the tone you wish your staff to follow but also tell the public what to expect from your brand. Get it wrong, and the messages that you will be sending out could be in contradiction to what you are communicating in other ways. The above designs offer a wide range of use for any business and will be able to effectively convey what you are about.

Are You Young, Ambitious and Ready to Launch Your Own Business?

Elliot
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Are You Young, Ambitious and Ready to Launch Your Own Business?

Has it dawned on you that you’d really rather not be working for someone else for the rest of your life? You’re not alone. Research published by OnePoll and FreeAgent last year revealed that 67% of 18-24-year-olds are interested in starting their own business. So, what’s holding you back? If you’re a young, ambitious and aspiring entrepreneur who isn’t sure how or when to take the next steps, this post for you.

Find your space

You’ve got an idea. You think it could work but you’re worried you might not have enough experience or contacts to pull it off. There’s no denying starting your own business is hard work, but whether you’re planning to manufacture your own product or want to rely on the talent and skills you’ve been using in your day job to run a business of your own, confidence in your own credentials is key. If you’re good at what you do it will shine through. However, raw talent and hard work won’t automatically guarantee success, so you’ll also need to do the groundwork. Planning and research are key and you may find it helpful when running through this stage to work with a business mentor. Not only will they be able to coach you into considering questions you’re not yet aware of, you could also find they help you unlock your inner confidence too.

If you already have a business model in mind, you’ll need to do proper market research to explore whether the idea has legs. If your plan requires investment, this research will be fundamental when it comes to scoping out your business plan to prove to the bank you’ve found a space in the market. This could be a geographical space where you seek out a good spot for a store or premises with footfall, your own product or service niche, or a mix. A few words of caution though – remember that customers don’t always know what they want. Henry Ford is often quoted as having said: “If I asked people what they wanted they would have said faster horses.”

Plan your finances

If you’re a skilled professional working in any field from accountancy through to hairdressing,  you may be hoping to cut out the middleman and start making money from your own training and talent. If your employment contract allows it, building your freelance base alongside your day job is one of the most popular and least risky ways to make the transition into a small business owner. However, you may still find that you require some capital to get your business started.

Premises, marketing and employees are all potential startup expenses you are likely to have to cover up front. How will you fund these? If you’re hoping for a loan, most banks will want to see some form of financial commitment from yourself before they stump up the rest of the cash towards your business vision. After all, if there’s only their money to lose, it’s a lot easier for you to walk away. You could also go to an alternative lender and apply for a short term business loan. Chances are you may need to save up some of your own cash or ask for investment from friends or relatives. You may also be able to seek grant funding, so take a peek at the latest Government services and information for help in your area.

Poor cashflow is one of the biggest killers of young businesses, so you’ll need to plan beyond the startup phase to be successful. What kind of financing methods will you have up your sleeve? Business loans, invoice discounting, crowdfunding and angel investment are just some of the ways you might seek capital to help your business grow.

Beat the red tape

The truth is, starting any kind of business requires cutting through a little red tape. Even sole traders need to register with HMRC and depending on the nature of their business, they may also require certain insurances such as professional indemnity insurance too. Will you be holding customer information? Well, you best get clued up on data protection. To start a food business you’ll need to be hygiene certified and registered with your local council. Whatever field you’re in, if you are planning on employing staff you’ll need an overview of payroll, pensions and holiday entitlement. Failing to deal with some legislation types before you launch won’t just be an inconvenience, it could close you down before you even get started, so take the time to explore your obligations first. It’s wise to consult a solicitor about matters such as employment law and rental contracts for premises. Similarly, governing bodies and professional member organisations are a good place to start exploring regulations related to your chosen field of business.

Remember, while preparation is crucial, on paper there’s not usually a ‘right’ time to start a business and to a certain extent, a leap of faith is a must.

Is It Legal or Illegal to Gamble Online in Costa Rica?

Elliot
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Is It Legal or Illegal to Gamble Online in Costa Rica?

Costa Rica is located in Central America. It is flanked by Panama and Nicaragua. On the west side, it is bordered by the Pacific Ocean, and on the east by the Caribbean Sea. Costa Rica is one of the most sought-after tourist destinations in the world, with tropical jungles peppered across its 19,652 mi.² of pristine wilderness. It may seem odd that this pristine natural enclave would be a top destination for online poker players – but it is. This Central American country has adopted a friendly approach towards online gambling, despite the absence of legislation to this effect.

Many gambling countries and territories have gambling authorities responsible for regulating, licensing and policing the online gaming industry. These include the MGA in Malta, the Government of Gibraltar in Gibraltar, the UK Gambling Commission for the UK, the Ireland Revenue Commissioners in Ireland, and the Government of Curaçao in the Netherlands. However, Costa Rica has no such authority, making it difficult to pin down the legality of online casino, online poker, or other online gambling games. In fact, the absence of a Costa Rica Gaming Authority or Costa Rica Gaming Commission is notable. Nonetheless, many online casinos and online poker rooms have attempted to claim authority from these fictional entities.

For the record, there is no gambling legislation in Costa Rica. For gaming companies to set up shop with online poker games such as Texas Hold’em, Omaha, Razz, Caribbean Stud Poker, 7 Card Stud or other poker tournaments, it’s important to simply follow the existing framework in Costa Rica. This includes the payment of $5,000 for a business license, and $500 for the processing of the gambling license and the legal fees. Unfortunately, that’s all that is required from a legal perspective to set up shop as an official online casino or online poker room in Costa Rica. According to the corruption index, Costa Rica scored 58/100 in 2016. 0 is considered highly corrupt, and 100 is considered very clean. Costa Rica is middle of the ground. It has improved in recent years, given that it’s highest-ranking was 64.50.

What is the status of casinos and gambling in Costa Rica?

At the time of writing, there were several dozen casinos located in Costa Rica, mainly in San Jose. The nightlife in this Central American country is teeming with foreigners, bars, casinos, clubs, restaurants and the like. Many of the top casino companies have targeted Costa Rica as a premier destination for online gaming. Poker is the subject of intense interest in Costa Rica. Annual poker conventions are routinely held in Costa Rica, including the Poker Industry Expo.

High-level attendees include poker executives from ranking online poker rooms around the world, and many of the world’s top players also participate. Some of the highest profile venues that host Costa Rica poker tournaments include the Garden Court, Hotel, and the Fiesta Casino Costa Rica. According to 2006 statistics, there were 32 legal online casinos and poker rooms in Costa Rica across 14 cities. San Jose tops the list with 18 gambling establishments, scores of video poker machines, 1,136 slot machines, 168 table games and more.

What does it mean to have a Costa Rica gambling license?

For the most part, foreign online gambling companies can derive revenues from foreign countries with a Costa Rican gambling license. Additionally, these companies will be subject to foreign tax policies. Oftentimes, companies that operate with a Costa Rica gambling license avoid taxation in this way. Online poker rooms in Costa Rica have a few drawbacks, notably locals cannot be accepted as players, and local banks and payment processing companies will not be allowed to fund poker online games.

The banking industry in Costa Rica is largely dominated by the US, meaning that it may be difficult to get approval. Over the years, hundreds of online gaming companies have opened and closed shop in Costa Rica. Today, only a handful remain. Given that government involvement in online gambling activity is limited at best, the industry is largely unpoliced. It is subject to criminal activity, corruption, and unfair gaming practices.

Players at Costa Rican casinos and online poker rooms routinely complain of poor customer service given that there is no overarching authority to manage activities. The online gambling boom in Costa Rica began with strict regulations in the US. Gaming fans who are seeking out alternative destinations to enjoy Texas Holdem poker and other strategy-based games, eventually settled on island nations and Caribbean countries like Costa Rica. Since foreigners are made to feel welcome in Costa Rica, foreign capital is equally enjoyed.

Entrepreneurs gladly establish themselves in this Central American country. However, the UIGEA of 2006 sounded the death knell for many online gaming operators in Costa Rica. Federal agents and the Department of Justice moved swiftly to shut down online gaming companies. Since then, greater liberalization of online gambling legislation in the US and elsewhere has resulted in a resurgence in interest in online poker and online casino games in Costa Rica.

Where to next for Costa Rica gambling legislation?

Costa Rica may not be the first name on the list when you think of player friendly online gambling legislation. It is an environmentally friendly country that prides itself on liberal government policy, the protection and preservation of the natural environment, and being a tourist Mecca. The absence of legislation is not to be confused with the prevention of online gambling. While locals are not allowed to play online, everyone else is.

An important component of Costa Rican gambling legislation, as it pertains to online poker is the following: it doesn’t matter where the i-Gaming servers are located – at home or abroad. The only requirement is that Costa Rican players are not permitted to gamble online. Recall that the only requirement is a data processing license and a physical address in Costa Rica. However, local businesses make it much easier for foreign operators to set up shop in Costa Rica by providing them with the requisite paperwork. The lack of oversight in Costa Rica for many years led many other gambling authorities such as the UKGC preventing Costa Rican online poker rooms from offering their services to UK players.

Summing it Up:

The Costa Rican Times ran an editorial on 10 January 2018 detailing the bare facts about the online gaming industry. Simply put, it is 100% legal to operate an online poker room in Costa Rica, provided that services are not offered to locals. Costa Rican players can enjoy free play games at online casinos and online poker rooms, but no real money games are permitted.

Economic Problems Come from Our Mind

ABC Staff
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Economic Problems Come from Our Mind

Overcoming economic problems is not an easy task, but it is simple. Do you see the difference? There are differences between the easy, the difficult, the simple and the complex. When it comes to solving our monetary problems, we usually believe that it is complex, or sometimes impossible. The extreme is when people consider and accept internally that there is absolutely nothing to be done.

Unless you are routed in a project that will soon bear fruit (and that is proven) if you have financial problems, what you have been doing all this time, simply has not worked.

– Do you have a job? It does not work.
– Do you have a company? It does not work.
– Do you have an entrepreneurship project? It does not work.

Because it does not work? Because regardless of what you do, the root of the problem is much deeper than you think, and is really based on something very simple: Your Mind. Your mind determines everything! Suppose if you have a bad credit history and you need a quick loan. If you are a pessimistic person then you will surrender whereas if you are a person with an optimistic nature then you will look for online-based loans such as long term loans.

But do not think I’m talking about something spiritual, esoteric, mystical or occult. I speak specifically of your way of thinking, deciding and acting in the world.

It is curious that many people want to change their financial situation, starting from the outside. When really what is needed is an internal change that allows tending towards the manifestation of better results. A great example that comes to my mind to conceptualize is that of the sheet and the printer: Suppose you have on your computer, a document that you want to print. You print it and it comes up with an error that you want to avoid.

Then, then you decide to correct the error in the result of the impression and you take a corrector to effectively replace the wrong word by which you consider, it must go. Then you propose to reprint the document, after having corrected the problem in paper …

And Oh Surprise! The sheet came out exactly the same, with the same error. Why did this happen? Because the real problem is not on the outside, on the result, on the palpable. The problem is in the intangible. The solution is not to change your environment, your work, your investments, your expenses … etc. The solution is in changing you. In changing that document that you will effectively print to the world.

Imagine your mind as the software that manages the document before it is printed to the world, and imagine the printed sheet of paper as the result of having started the software.

Your software is your thinking, your mentality, your attitude, your character, your ideas, your paradigms … etc. Your hardware is your brain. And the impression is your concrete financial situation: Financial Freedom, Financial Troubles, Wealth, Poverty, Misery … among others.

Simply if you try to erase the error in the sheet (that is, to eliminate the errors in your environment and in your exterior life) there will come a time when you will be exactly the same as before; because you will simply continue to print more of your internal information to the world.

How will Brexit affect fuel prices?

Elliot
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0
How will Brexit affect fuel prices?

Many articles have reported the increase in fuel prices, followed by more articles discussing the drop-in fuel prices. In the UK, fuel prices seem to be on a yoyo, constantly bouncing up and down. The RAC have reported several times on the cost of fuel in the UK – with industry professionals encouraging leading supermarkets to cut fuel prices to make them more affordable following a three-year high in both diesel and petrol prices.

So far in 2018, fuel prices have continued to rise, with motorists experiencing a third consecutive month for price increases in January – large supermarket forecourts appear to have hit drivers the worst with the largest price increases.

According the Simon Williams, a fuel spokesman for the RAC, “Both petrol and diesel are now at their highest points for more than three years which is bound to be making a dent in household budgets.

“We urge fuel retailers to be fair to motorists and pass on the current savings in the wholesale price of petrol and diesel at the pump.

“Reflecting downward movement in wholesale prices on the forecourt, however small, is important for retailers as motorists generally believe there is little transparency in the price of fuel, unless of course costs are on the up when they understand all too well they will quickly be paying more to fill up.”

Thankfully, the RAC’s concerns have been heard, with three of the UK’s leading supermarkets reducing their fuel prices in February 2018, by up to 2p per litre – reflecting the recent drop in the cost of oil. To which the RAC hope will spark a chain reaction prompting other retailers to lower their prices too. However, again this proves the yoyo effect of fuel prices in the UK – January experiencing both wholesale and pump price on the rise, whilst so far in February, the cost has reduced. So, is there a way to maintain steady fuel prices?

Northgate Vehicle Hire, specialists in van leasing consider if the Brexit could be the answer to steady fuel prices. Could this yoyo trend be put to a stop when the UK leave the European Union? In 2013, the UK reached a peak in reliance of imported energy. Whilst it has fell slightly since 2013, the UK still relies on the import of energy for at least 38% of their total energy consumption – and this is a trend mirrored across many European countries. In 2014, all EU countries were importing more energy than they exported. However, the OPEC made a decision to increase domestic fuel production in 2014 too – which led towards a fuel price drop to 98p a litre in January 2016 – the lowest fuel had been since 2009, during the financial crisis.

When the referendum came around, fuel prices rose by around 10p litre, and following the vote to leave the EU, the value of the pound took an immediate fall of 20% against the dollar, leading industry experts to warn that the vote marked the end of cheap fuel in Britain – with imports to the UK costing more than prior to the vote. However, since then fuel prices have been less than steady, with UK drivers experiencing multiple rises and falls in the years since the vote.

Global factors are one of the main reasons that the price of oil fluctuates so often –  crude oil prices are on the rise. Alongside this is Brexit, the uncertainty and devaluation of the pound is affecting the cost of fuel within the UK – especially as they import so much of their fuel. Currently, the UK put the significant increase in fuel prices down to the increase in oil costs, with Brexit a small contributor.

Following Brexit, whilst the UK hope that fuel prices remain steady – the RAC warn that 2018 onwards could see higher fuel prices becoming the new norm. Luckily, the US is one of the UK’s main providers of fuel, and Brexit does not put US trading terms at risk.

Simon Williams commented: “While the fuel market is very hard to predict at the best of times there is currently even greater uncertainty as the price of oil went through the $70 a barrel mark in January for the first time in more than three years, while sterling has strengthened against the dollar making wholesale fuel cheaper as it’s traded in dollars.”

However, the UK should prepare for the uncertainty that Brexit poses. If the value of the pound weakens, whilst the cost of oil continues to rise, the UK economy may struggle with new higher fuel prices.

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