The Accounting and Corporate Regulatory Authority (ACRA) in Singapore has implemented the Register of Registrable Controllers (RORC) to enhance the transparency of ownership and control of corporate entities. This initiative is part of ACRA's ongoing efforts to uphold Singapore's reputation as a trusted financial hub.

AGENDA: Types of companies in UK and governing law, Part I: Limited Liability Company: General overview, Registration procedure and standard documents, Company management, Annual maintenance requirements (Annual Returns/Tax Return/Accounting and Audit requirements), Strike off, dissolution and liquidation, Limited Liability Partnership, General overview, Registration procedure and standard documents, Company management, Maintenance requirements (Annual Returns/Tax Return/Accounting and Audit requirements), Liquidation and insolvency, Limited Partnership, General Overview (England VS Scotland), Main characteristics and annual maintenance requirements, Part II: Short Tax overview: LTD/LLP/LP, Examples of most common international structures

This article contains updated answers to the most frequently asked questions regarding the requirements for Cayman companies to be registered for FATCA.

AGENDA: The most common methods of Double Tax Treaty (‘DTT’) abuse, The current practical problems associated with the application of DTTs, The OECD’s Base Erosion and Profit Shifting (BEPS) Project: proposed amendments to DTTs, The OECD’s 01/07/18 Multilateral BEPS Convention: global changes to be made to DTTs, Potential Implications of the latest amendments to DTTs.

The fact that money can be transferred from one jurisdiction to another means, that money laundering as a concept involves the entire modern world. In the United Kingdom, banks are always under the supervision of strict regulatory bodies.

HM Treasury has approved the final Consultative Committee of Accountancy Bodies (CCAB) on Anti-Money Laundering (AML) guidance 2022 for the accounting sector.

As per new legislation, every company incorporated in Hong Kong will be required to keep and maintain a register of all persons who have significant control of the company. The record must be updated as required and kept at the registered company address, even if there are no persons of significant control.

There are two types of VCCs in Cyprus; UCITS which we will discuss in the following article, and AIFS. A UCITS shall take the legal form of a limited liability company, its name shall include the reference: “Variable Capital Investment Company”, and it shall be in compliance with the provisions/requirements of the Law 78(I)/2012.

Poland is one of the European countries with a stable economic position, whose attractive system attracts citizens from neighbouring countries to conduct business within the country. It is the Polish taxation system that is advantageous for businessmen willing to enter the international market.

There are a number of methods of obtaining a Cyprus Passport, giving freedom of movement to the rest of Europe, as per the Schengen Agreement.

There are many factors that influence an investor to obtain a second citizenship in another country. Aspects such as relocation, retirement, security or even long-term plans for future generations are all benefits and considerations in the prospectus for investment. Several countries now offer this option through different investment schemes.

Cyprus has quickly gained a reputation as a reliable, legitimate offshore jurisdiction, and is universally accepted as the most beneficial tax system in the EU; making it the perfect location for incorporating a company of any type.

AGENDA: Relevant legislation requirements, What is Know Your Client and the KYC Procedure, KYC Procedure – Client Acceptance Policy, Categorization of Customers, What is Due Diligence

Cryptocurrency is a form of electronic cash; it’s virtual and not controlled by any government or business. Although Bitcoin was critised many times for its price volatility, legitimacy and high electricity consumption, it is still being used by millions of people for investment and entrepreneurial purposes.

The Singapore authorities are not ready to completely give up market control. A free economy should not harm the legislative, judicial and executive systems of government. With the advent of new powers of the Monetary Authority of Singapore, doing business in the jurisdiction will become more complicated.

The recent shift to software-driven accounting allows businesses from the UK and mainland Europe to shift their processes to Russia & Ukraine; taking advantage of cheaper office upkeep and facilitating the cloud to share data across offices on an international level.

AGENDA: Personal income tax, Special contribution, Corporate tax, Back to back loans, Annual levy, Special defense contribution tax, Capital gains tax, Immovable property tax

A Cyprus Company Director may be found liable by the Inland Revenue or Customs & Excise with regarding tax related issues. As per the legislation, the Inland Revenue or Customs & Excise may personally prosecute the Company Directors who are involved in any taxation offence(s) or related financial matters.

The tables detailing general expenses in Cyprus can help give you an idea as to how much it will cost you to live there. All figures have been converted into Euros and have been taken using the median from a set of data from 2019-2020 figures ranging from the most expensive to the least.

GST is a tax on the supply of goods and services made in Singapore by a taxable person in the course or furtherance of any business carried on by him and on the importation of goods into Singapore.

Master your ECI filing in Singapore. Our complete guide covers deadlines, penalties, calculation, and e-filing with IRAS. Learn about exemptions and ensure full tax compliance.

Generally speaking, overseas or offshore banking has garnered a bad reputation in the financial world. Usually the term is synonymously used with embezzlement, money laundering and tax evasion. This article will discuss the benefits, associated with offshore banking as well as dispelling any myths.

Cyprus is considered the "Pearl of the Mediterranean". There are quite a few reasons for moving to Cyprus. If you want to improve the quality of your life or get away from the hectic modern life, you should consider moving to the island.

The amendments of the Assessment and Collection of Taxes Law 78/2014, made on the 20th of June, 2014 with regards to the Law 4/1978, is a clear demonstration of the Cyprus Government’s commitment to the reforms proposed by the Troika.

AGENDA: Definition of the term brand and HR brand, The purpose of HR Branding for various organizations, Components of the HR Brand, Work Environment, Compensation and benefits, Achieving appropriate work – life balance, Company culture and environment.

The doctrine of the corporate veil was developed in the UK, where it finds its most frequent usage in case law. In practice, there are three occasions when the court has lifted the veil: application of the terms of a contract or statute, or as a matter of common law.

The British High Commissioner outlined the processes currently being followed within government to prepare for the Brexit negotiations in order to find an outcome for the UK nationals living abroad in Cyprus.

A shipping operator who operates Singapore ships or foreign ships can enjoy exemption of specified income as a ‘shipping enterprise’ under Section 13A of the SITA.

AGENDA: Eltoma Corporate Services in Singapore, Companies in Singapore, Company incorporation, Company maintenance, Tax treatment, Key benefits

Berlin-based non-governmental organisation Transparency International are putting pressure on the European Commission to create plans to allow for reporting and full disclosure of all passport schemes of member states that allow foreign investors to acquire either EU citizenship or residence permit.

Learn how to become a certified company secretary in Hong Kong. Explore qualifications, licensing (TCSP), registration steps, and professional skills for compliance success.

Being unaware of Compliance Matters in Singapore could end up with Business Owners and founders of Singapore companies heading to Court, as ACRA puts a stop on companies that consistently do not hold an Annual General Meetings or AGM.

Expats are people who do not live where they were born and not in the country whose citizenship they have - this is a separate class of people who follow a prestigious job and a comfortable life. And among many countries, they choose those that they like.

According to the U.S. Treasury Department more than 80 nations agreed to the law and have concluded agreements with the U.S. Government. Cyprus and Singapore are amongst the countries which have recently signed these agreements.

Immigrants wishing to live work or study in Cyprus are required to have either a valid work or residence permit. Fines may be imposed on anyone found to be employed in the country without valid and up-to-date paperwork. Citizens of any EU country can freely enter Cyprus with the correct passport/ID card.

Singapore has established the Register of Registrable Controllers (RORC) as part of its ongoing commitment to fostering transparency and combating illicit financial activities. This article will delve into the critical aspects of the RORC, its significance, and how it reinforces corporate governance in Singapore.

Gibraltar is working to implement all EU legislation relating to the 4th Anti Money Laundering Directive into national law, in addition to the current EU legislation on financial supervision and direct taxation, and to this affect, the Government of Gibraltar have established a Central Register of Beneficial Ownership that will be effective from June 26th 2017.

The foreign exchange market is where money in one currency is exchanged, purchased or sold for another. The fluctuation in value between one currency or amenity and another one can be a profitable hobby or business venture, if the correct expertise is applied.

Cyprus is a favourable jurisdiction for creating international trusts which are governed by the 1992 International Trusts Law which regulates the establishment and administration of International Trusts. The International Trust Law compliments the Trustee Law which is based on the English Trustee Act 1925.

The following is a list that all employers should take into account when considering payroll for their workforce and required procedures.

According to the recently published Henley Private Wealth Migration Report 2023, the UK is projected to experience a net outflow of 3,200 high-net-worth individuals (HNWIs) in the coming year. In contrast, Australia is projected to attract the highest net inflow of HNWIs in 2023, with an estimated 5,200 individuals seeking to establish residence there.

The audit exemption is applicable if it is a private company with an annual revenue of SGD $5 million or less. This approach is being replaced by a new small company concept which will also determine exemption from statutory audit.

Complete guide to the Cyprus Digital Nomad Visa. Learn about the €3,500 income requirement, step-by-step application, tax residency rules (Non-Dom status), and why Cyprus is a top remote work hub.

In a new action plan adopted in October 2021, the Cypriot government announced a course to attract foreign investment, businesses and expats. In addition, the authorities' representatives announced several innovations, which concerned mainly immigration law.

The Hong Kong Securities and Futures Commission has remarked upon the growth and popularity of ICOs for raising money not only in Hong Kong but other Asian countries. This article confirms and explains how digital tokens that are offered or sold may be defined as “securities” and as such are therefore governed by the relevant securities legislation of Hong Kong.

A successive round of new allegations about some of the largest Nordic banks being involved behind the scenes in indirectly channeling dirty money through their Baltic locales.

Cyprus is an ideal place for holding company location. The following factors described in the article are important when deciding the location of a holding company.

One of the requirements for registering a company in Singapore is that it has a registered address. Typically, legal entities rent a real space to use as their office. However, recently some companies have decided to use virtual offices, where a business address is rented and used as their own.

To the inexperienced trader, ICOs might sound similar to Initial Public Offerings however there are resounding differences between the two. Even with the vast amount of funding being spent and the craze surrounding them, most retail investors have little in-depth knowledge of this ground-breaking fundraising vehicle.

Cyprus has seen rapid growth in the number of startups. This increase is due to tax incentives and favourable conditions for intellectual property and innovative companies offered by Cyprus, making it a pleasant country for the development of startups.

The European Commission is increasing pressure on EU countries to change residency programs. Portuguese Prime Minister said the country would likely abandon its citizenship-by-investment scheme, commonly known as the "golden visa".

AGENDA: What is SAR, Importance of SAR reports, When do I need to send a SAR?, Sending SAR in non-regulated sectors, Reliability of information specified in the SAR, The concept of Tipping off, SAR Online

AGENDA: Introduction to Hong Kong Special Administrative Region (HK SAR), Company incorporation in Hong Kong, Company maintenance, Tax treatment, Key benefits

The Minister of Finance of the Republic of Cyprus held a press conference dedicated to launching the Action Plan to attract companies to conduct activities and expand in Cyprus. The above Action plan is a significant improvement in promoting Cyprus as an international business centre.

The Cyprus government, for the last few years have been harping tales of steady growth and booming tourism levels; referring to the relatively high rate of growth of real GDP can be attributed to a number of factors.

Cyprus is likely to have repercussions as a result of Jean-Claude Juncker ’s favouring of a relaxation in EU regulation formation and monitoring schemes, reinforced by qualified majorities on matters including the additional synchronisation of blanket taxation rates across Europe.

UK non-dom regime ends April 2025. New 4-year FIG regime for foreign income & gains, inheritance tax changes. Strategic planning for wealthy individuals.

AGENDA: Scheme, Benefits & Criteria, The Process, Next Steps

Complete 2026 guide to obtaining a Cyprus Tax Identification Number (TIN) for employees. Essential for legal payroll, tax compliance, and social insurance in Cyprus.

Received a Notice of Assessment from IRAS? Our complete guide explains your Singapore tax assessment, how to read your NOA, and steps to file an objection if you find an error.

As per new legislation, every company incorporated in Hong Kong will be required to keep and maintain a register of all persons who have significant control of the company. The record must be updated as required and kept at the registered company address, even if there are no persons of significant control.

COVID-19 and related quarantines and restrictions have damaged the image of Hong Kong, considered the international centre of Asia, provoked the departure of expats and spurred the ambitions of rival cities to replace Hong Kong and take its place as the preeminent financial centre of the region.

Among the number of amendments to the Companies Act, the provisions for the inward re-domiliation regime are arguably the most important in further boosting Singapore’s character as a business hub.

Paid-up capital refers to the amount paid on shares issued by a company. These may be ordinary, preference shares or shares of some other class.

There are two types of Variable Capital Companies in Cyprus; UCITS and AIFS. Read on to find out more about Alternative Investment Funds.

By failing to report any incorrectly filed records, is breaking the law, with the service provider or intermediary also potentially becoming liable for the assistance and enabling of tax evasion accordingly.

Since 1 November 2007, companies in Singapore are required to file financial statements with ACRA, and filing financial statements in XBRL. With effect from 3 March 2014, the revised XBRL filing requirements under the BizFinx system apply.

On July 1st 2015, the President of Cyprus Nikos Anastasiadis, has officially declared that the Cyprus taxation system needs rapid changes to increase the level of the country’s competitiveness. In order to achieve this goal, a number of amendments should be made to the tax law.

All Hong Kong businesses providing Trustee Services will not be able to operate without a valid trading license after March the 1st 2018. The new scheme is designed to better regulate individuals carrying out services within the financial sphere in Hong Kong and will be overseen and administered by the Hong Kong Companies Registry.

In a bid to make Singapore a shipping hub, various incentives were introduced to make it attractive to have shipping activities in Singapore. Essentially the provisions that govern the exemption of shipping activities in Singapore are found in Section 13A and Section 13F of the Singapore Income Tax Act (SITA).

The following article will answer some commonly asked questions regarding Singapore small company auditing requirements and exemptions from ACRA.

The Monetary Authority of Singapore (MAS) has issued amendments to the current legislation regarding company mergers and commercial take-overs as per section 139 of the Securities and Futures Act in Singapore.

AGENDA: What is Know Your Client and the KYC Procedure, Relevant legislation requirements, Who is Politically Exposed Person (PEP),mTypes of PEPs, Who is Linked Person (LIP), Types of LIPs, Reliable PEP/LIP Data

We have compiled a list of answers to common questions regarding SLAs and basic tips on how your organisation or business can create effective SLAs with any vendors or business partners.

Royalty is the consideration for the use of, or the right to use any copyright of literacy (Software), or any artistic or scientific work. It consists of patent, trade mark, design or model, secret formula, information or process which is usually a secret and not commonly available in the public domain. Information (know-how which is not registered) concerning industrial, commercial or scientific experience.

Nowadays, to enter the regional or global market, there are a vast number of attractive jurisdictions. Nevertheless, according to analysts, in the last decade, the attention of our compatriots has been increasingly attracted by a small country in Southeast Asia - Singapore.

The Cyprus Securities & Exchange Commission (CySEC) has revealed new details about its efforts to increase oversight of cryptocurrencies and related assets by integrating EU anti-money-laundering rules into Cyprus legislation.

FATCA aims to facilitate the reporting of foreign financial assets, to find US accounts in foreign financial institutions’ and find those using different vehicles to reduce the tax burden located outside of the US.

Cyprus is a European country that is attracting the most interest from critics of the scheme due to Cyprus being the jurisdiction granting the highest number of passports. Opponents of the scheme are also alluding to the prospect of using potentially recycled or laundered funds to keep Europe a float.

All Cyprus resident companies must return their income tax accounts in accordance with the Income Tax Law (Law No. 118(I) of 2002).

Expert analysis of Cyprus new defensive tax measures for 2025. Learn about WHT on dividends, interest deduction denial for blacklisted and low-tax jurisdictions.

The following article will examine various duties of loyalty to a business that are owed by Senior Employees, partners, Company Directors, and mere employees using supporting legislation from the Companies Act 2006 and principles established from UK common law cases.

A Limited Partnership registration in Scotland offers different advantages than other company structures in the UK. Scottish LPs are considered a legal entity and as a result can hold assets in their own name, as well as having significant tax benefits that differentiate them from the structures available in England & Wales.

Many people are convinced that the cryptocurrency is likely to become an alternative to the established global financial system and open new opportunities to those segments of the population and citizens of those countries that are deprived of the opportunity to work with the banking financial system.

the Singapore Government amended the Singapore Companies Act 2017 which introduced an inward re-domicile (or relocation) regime in an effort to boost Singapore’s attractiveness as a business hub.

Compare Singapore vs Hong Kong for business in 2025. Expert analysis of taxes, industry opportunities, costs and which Asian hub suits your expansion goals.