Each of us, in one way or another, encounters taxes, and they can be conditionally divided into two large categories: direct and indirect. However, not everyone clearly understands the differences between them. Often, questions arise like direct tax vs indirect tax — that is, what are direct and indirect taxes, and how do they differ. In this article, we will explain in simple words the difference between these two types, provide definitions, examples, and consider how each o

What Does “Frozen Bank Account” Mean? Such a terrible surprise can happen to anyone at the most unexpected moments in life, so it is important to be aware of what to do next. Below, we explain what a frozen bank account is, why would a bank freeze your account, how it can affect your daily life, and, most importantly, how to solve the problem and retrieve your funds. Frozen account meaning explained A frozen bank account is one that has been fully or partially restricted by a

Certificate of Good Standing Explained A Certificate of Good Standing (CGS) can be considered a kind of “mark of trust” that shows clients, partners, and investors that the business operates transparently and legally. Having such a document helps a company support its reputation as a reliable and responsible market participant. What is a Certificate of Good Standing for an LLC or corporation? This question is often asked by company owners. The answer is simple: the CGS is ess

What is a custodian in finance? A custodian is a highly specialized entity—typically a trust company or a bank—whose core function is the safekeeping and administration of a client's securities and cash. This is the highest duty of trust, and the safekeeper acts as the essential, silent guardian of integrity in the investment world. Critically, custodians ensure that the client's assets—specifically their securities and cash—are legally segregated (or walled off) from the inv

Understanding Source of Funds (SOF) Source of funds meaning and definition In compliance work, the source of funds meaning refers to where the money for a specific transaction actually comes from — its immediate origin and the path it followed into the account used. A concise source of funds definition is the verifiable funding route for a payment or investment, evidenced by documents that show ownership and control of the money at each step. What does the source of funds mea