RESIDENT COMPANY Meaning and
Definition
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A resident company refers to a business entity that is incorporated and operates within a particular jurisdiction. It is registered and conducts its principal business activities within a specific country or region. The term "resident" emphasizes the legal and financial presence of the company within its operating jurisdiction.
In order to be deemed a resident company, it is important that the business meets the legal requirements set by the governing authorities. These requirements may include having a physical presence, a registered office or address within the jurisdiction, a locally appointed director or shareholder, or compliance with other local regulations.
Resident companies are subject to the laws and regulations of the country in which they operate. This entails obligations such as tax compliance, financial reporting, and adherence to local business laws. They may be eligible for certain benefits or incentives offered by the host country, such as tax exemptions or grants targeted at encouraging economic growth or attracting foreign investments.
The concept of a resident company is essential for tax purposes as it determines the tax liability of a business. Resident companies are typically subject to income tax on their worldwide income within the jurisdiction, whereas non-resident companies are usually taxed only on income generated within that particular jurisdiction.
In conclusion, a resident company is an incorporated entity that operates and conducts its business activities within a specific country or region. Meeting legal requirements and adhering to local regulations are fundamental aspects of being recognized as a resident company within a jurisdiction.
Common Misspellings for RESIDENT COMPANY
- eesident company
- desident company
- fesident company
- tesident company
- 5esident company
- 4esident company
- rwsident company
- rssident company
- rdsident company
- rrsident company
- r4sident company
- r3sident company
- reaident company
- rezident company
- rexident company
- redident company
- reeident company
- rewident company
- resudent company
- resjdent company
Etymology of RESIDENT COMPANY
The word "resident" originated from the Latin word "residēre", which means "to remain" or "to reside". It is derived from the combination of the prefix "re-" (meaning "again" or "back") and "sidēre" (meaning "to sit" or "to settle").
The word "company" also has Latin origins, coming from the Latin word "companio", which means "one who eats bread with another". It is formed by combining the prefix "com-" (meaning "together" or "with") and "panis" (meaning "bread").
When these two words are combined as "resident company", it refers to a theatrical or performing arts company that has a permanent residency in a specific theater or venue.
