Translation For Lawyers

Certified corporate translation and financial translation services play an important role in avoiding double taxation. In the global workplace, one issue that is always a stress for the expatriate employee is taxes and understanding who gets paid what. For instance, countries often impose withholding taxes on nonresidents income for the performance of services sourced within that country.

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We've blogged about multilingual legal translation services in the context of the international and US taxes for expats. On December 17, 2010 President Obama signed the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (TRA 2010) into law. The Economic Growth and Tax Relief Reconciliation Act of 2001 gradually reduced the top tax rates and raised estate tax exemption levels through 2009. As of January 1, 2010, the estate tax and the generation-skipping transfer taxes (GST) had 'sunset' for people dying in 2010. In other words, there was no estate tax in 2010. However, the statute also specified that, if no Congressional action occurred, those taxes would return to their 2001 level in 2011.

TRA 2010 retroactively reinstates the Estate Tax for 2010 with a maximum rate of 35% and an estate tax exemption amount of $5 million. For estates under $5 million, no estate tax return is required except if one opts for 'portability' of a spouse's unused exemption. Indeed, starting in 2011 the part of the exemption amount that is not used upon the death of the first spouse to die can be carried over and used to increase the exemption of the surviving spouse.

Continue reading "Legal Translation Services and the Estate Tax for US Citizens Living Abroad" »

We've blogged about the importance of accurate corporate translations in cross-border insolvency cases. Multinational Enterprise Groups (MEGs) are businesses comprised of separate entities that operate in more than one country. Needless to say, MEGs dominate the global marketplace. However, because of their global structure, it is difficult to apply regulations to them. MEGs tend to fall between the cracks in the domestic and international legal rules. And there is no fully developed body of law aimed at this area. This lack of regulation often manifests itself in the context of insolvency.

Continue reading "Corporate Translation, Multilingual Legal Translation Services, MEGs and Foreign Jurisdiction" »

We've blogged about multi-language translation and interpreter services in the context of pension plans for foreign nationals and about legal translation services in the context of international estate taxes. US citizens living abroad often struggle with understanding what their tax obligations in the US are. According to Code section 877A, certain individuals who renounce their US citizenship or cease being long-term US residents will be deemed to have sold their worldwide assets just prior to expatriation. Under this interpretation, tax is due on the deemed sale to the extent that the net gain exceeds $627,000. (This figure is adjusted annually).

Continue reading " Multilingual Language Interpretation Services, Expats and US Taxes" »

We've blogged about professional language translation services in the context of international mergers and acquisitions. Typically, shareholders of a company that was the absorbed company in an M&A, they were issued with, as consideration for their loss of shares, shares in the surviving company. However, under the rules of Private International Law, money is now permitted as consideration and it is permissible to use shares of the surviving company - thus allowing for a triangular merger.

Continue reading " Legal Translation and Triangular Mergers in the International Context" »

Professional translation services are important not only in the context of foreign-language wills and probate, but also for estate planning in an international setting. One of the major concerns of many Americans living abroad is the lack of an Estate Tax Treaty between the US and their country of residence. The Economic Growth and Tax Relief Reconciliation Act of 2001 gradually reduced the top tax rates and raised estate tax exemption levels through 2009.

Continue reading "Professional Translation and Estate Taxes in an International Setting" »

We've blogged about multilingual financial translations and legal translations, and about translation of comparative terms from different legal systems. Double taxation agreements, often times referred to as double taxation treaties, are designed to protect against the risk of an individual or corporation from being taxed twice where the same income is taxable in two countries. Across the world there are over 1,300 double taxation treaties in place, each negotiated between two individual countries.

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Thanks to professional translation, e-Discovery translation and legal language services by competent language translation and interpreting professionals, foreign language-related issues are not among the major challenges faced by law firms and attorneys.  International tax attorneys and other professionals engaged in international tax preparations are confronted with myriads of challenges- many of which could be far more difficult than reconciling numbers because they need to comply with different tax laws that are subject to varied interpretations.
 
But whatever the circumstances might be, a judge will search for the exact meaning and bearing of a legal text whenever doubt arises (Maisto 2005). Since legal texts are susceptible to dual interpretations (as in the case of English and non-English languages), reconciliation of meaning and expression of terms in two languages are further necessary.

Continue reading "International Tax Law Translations, Legal Translations, Financial Translations" »

We've blogged about financial translation, foreign language translation of reverse mortgage loans, validity of real estate transactions conducted in a foreign language, and the role professional business translation services in consumer protection. 

As home foreclosures continue to sweep across the States, a high number of homeowners are reviewing their mortgage contracts more seriously and frequently these days than in any other period before the recession. And those, who had previous experiences with mortgage contracts obtained in other states or countries, may notice similarities and differences in the stipulated provisions with their previous contracts.  When in doubt, professional foreign language translation by professional linguists and by competent translating professionals is the option.

Continue reading "Real Estate Translation Services, Financial Translations, Mortgage Contract Translations and the True Appreciation of the Law " »

Professional legal translation and language interpreter services are indispensable in the process of taking a franchise overseas.  This process usually starts with a third party expressing interest in bringing your idea to another country. However, before shipping your business overseas, there are numerous issues that must be considered. And language translation is one of the most important ones.

Continue reading "Legal Translation Services, Professional Translators and Interpreters, and Taking a Franchise Overseas" »

Corporate translating and interpreter services and professional legal translations and financial translations are vital for the global economy, as evidenced by the current international financial crisis. Although some would argue that one of the problems is a lack of multinational corporate governance laws, this is not an area where international law fears to tread. In fact, international trade law plays a significant role in corporate governance. 

Continue reading "Multilingual Translator Interpreter Services for Law Departments and Corporate Lawyers, and Multinational Corporate Governance" »

Professional corporate translation services and legal translation services come in handy for translations of international financing agreements in the current financial and economic crisis, which has dominated the headlines.  Due to the world's financial institutions being linked via the intense period of globalization occurring over the last decade - the crisis is affecting markets across the globe. Just last week, the Bush Administration proposed a bailout plan that now includes assistance to non U.S.-based institutions, which have significant activity within the U.S.

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Earlier we've blogged about the role of professional translation services in the global economy. As China continues to develop as a dominant international business player, it is essential for the international lawyer to understand China's antitrust review process, and the role of English-Chinese and Chinese-English legal translations in this process.

Continue reading "English-Chinese and Chinese-English Legal Document Translations, and China's Antitrust Review Process" »

Part of finalizing a foreign investment in the United States involves satisfying the procedures set up by the Committee on Foreign Investment in the United States (CFIUS). Financial document translation, accounting document translation, and legal document translation of foreign language documents constitutes an important step in this process. The purpose of the CFIUS is to ensure that foreign investments do not have any national security implications.

Continue reading "Legal Translations, Financial Translations, and Foreign Investments in the U.S." »

Earlier we've blogged about document translation in the context of foreign regulatory evidence in products liability cases and about the role of professional translating and interpreting services in enforcing U.S. judgments in Europe. As the business world becomes more and more global, there are increasing instances of conflict of law questions. Essentially, a conflict of law arises whenever a business transaction spans two different countries.

Continue reading "Foreign Language Translation for Attorneys and Law Firms, and International Conflict of Laws" »