ECI means Estimated Chargeable Income. It is an estimate of a Singapore company’s chargeable income for the given Year of Assessment (YA). The amount of ECI declared is based on the amount before the deduction of any exempt amounts under the partial tax exemption or tax exemption schemes for new start-up Singapore companies.

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 legislation for Scottish Limited Partnerships have changed regarding the disclosure of information. Going forward, Scottish LPs will have to register all information about PSCs and Business Owners with the UK Companies House from July 24th 2017.

AGENDA:- Two options to close a company- Strike- Off Procedure- Strike- Off Procedure in Tax Heaven Jurisdictions - Liquidation Procedure- Voluntary Winding Up- Risks for Directors in Abandoned Cyprus Companies

See below the considerations that should be established to ensure you have taken the necessary steps to protect yourself and your new business in 2018.

Registration is open to all types of ships which includes offshore vessels like oil rigs and floating platforms. The vessel should be less than 17 years old and classed with any of the nine recognised classification societies.

The Cyprus Securities and Exchange Commission has recently released information to all Cyprus Investment Firms, Management Companies and Administrative Service Providers regarding fraudulent tax evasion, and also a proposal on the prevention of use of the financial system for the purpose of money laundering and terrorist financing.

AGENDA: Forms of Business Entities, Incorporation Procedure, Company documents, Director and Secretary of the Company, Shareholders and types of shares, Know Your Client (KYC), Filing Requirements for Companies, Liquidation & Strike Off

As per a recent STEP seminar in London, the UK government has released an outline of amendments to be imposed relating to both entrepreneurs’ relief and dividend tax relief that will be in effect from the 6th April 2016.

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.

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.

According to a recent report published by the US State Department’s Anti-Money Laundering (AML) unit, Cyprus continues to upgrade its established AML legal framework, while authorities successfully 26 individuals and entities for money laundering related offences in 2018.

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

AGENDA: Advantages & Disadvantages of UK life, Advantages & Disadvantages of Cyprus life, The Cyprus Island Divide: Reunification prospects & what it means in 2018, Cost of living comparison: basics, What constitutes quality family life?, Why do so many UK expats relocate to Cyprus?, Buying a holiday or second home in Cyprus? Main considerations, Considering retirement in Cyprus?

Notional Interest Deduction or NID is an estimated expenditure offered to all Cyprus-resident companies (including non-resident companies with a permanent establishment in Cyprus) against their taxable profit resulting from application of new equity introduced in their share capital.

HM Revenue and Customs (HMRC) is consulting on a proposal to expand the existing Investment Manager Exception (IME Exception) to include crypto assets. The IME exemption defines the types of investment transactions that UK collective investment agreement managers may undertake on behalf of non-UK resident investors.

Whether a payment is considered “interest” depends on the substance of the transaction. The intrinsic nature of said interest is compensation for not being able to use or the delayed payment of money by another. The interest must be charged against a primary sum of money which must be owed to the person entitled to the interest.

Tether Ltd, the issuer of Stablecoin, a type of cryptocurrency under the ticker USDT, has been hotly debated for the past year. Many representatives within the crypto-community suspect the issuer of the “tokenised dollar” regarding the insufficient supply of the currency, as well as the regular “quantitative easing” of the market during periods of recession.

The European Commission proposed an ambitious and comprehensive package of measures to tackle non-performing loans (NPLs) in Europe, making the most out of the promising progress already made in reducing risks in the banking sector.

On 17th June 2015 the European Commission has presented the Corporate Tax Reform Action Plan which signifies the second and more comprehensive step towards remodelling corporate taxation in the European Union.

Reaching the 100 clients mark means this is more work than any one person in the company can keep track of, and the business must have a significantly larger budget. In terms of marketing this is huge, as the company now has access to real client data and general branding activities.

Initial Coin Offerings (“ICO”) have gained increasing attention by cryptocurrency users, the media and the regulators. The rising price of Bitcoin, one of the most widely known and used cryptocurrencies, along with fraud scandals in different countries, have raised attention by the public and concern by the regulators.

Greece Golden Visa 2026: recent changes, EUR 800k, EUR 400k and EUR 250k routes, property restrictions and relocation planning for non-EU investors.

Cyprus tax residence after the 2026 reform: 183-day and 60-day tests, non-dom status, SDC, remittance misconceptions and corporate residence.

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.

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.

Agenda: Requirements for the Registration Certificate Application, Where to apply: the immigration buildings & office contacts, The full application procedure, What documentation and information do you need to bring?, When do you need to apply for your yellow slip?, Rights for family members and other dependents, When your family are citizens in a EU or EEA member state, Employed and self-employed applicants, Retired and non-working applicants, Validity Period of Registration Certificates, Using an agent.

How the renminbi is expanding in trade settlement, offshore liquidity and finance, and what CNY/CNH use means for contracts, treasury and investment.

Explore the role of trusts in wealth management for asset protection, tax planning, and inheritance. Learn about family trust structures and international strategies.

A practical Hong Kong tax compliance calendar covering Profits Tax Returns, block extension, payroll reporting, e-filing and payment readiness.

Guide to Singapore's CSP Act 2024. Learn about mandatory ACRA registration, enhanced AML/CFT duties & 'fit and proper' tests for nominee directors. Ensure compliance.

A practical guide to what Singapore companies must do after incorporation, including Corppass, registers, secretary, accounting, annual returns and tax filing.

Master EU sanctions compliance with our guide on ownership and control rules. Learn about the 50% rule, beneficial ownership, and due diligence strategies now. 

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.

The Finance Committee in Cyprus discussed the long-awaited and somewhat revolutionary new competition law that allows foreign individuals to have the possibility of obtaining Cyprus tax resident status while on the island only for 60 days in any calendar year.

A beneficial owner is a person (group of persons) who is the actual controlling owner of a legal entity. In this article, we will consider essential points regarding registers of beneficiaries and the regulation on this issue.

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.

Practical guide to Hong Kong directors’ duties, oversight, delegation, filings, accounts, audit, conflicts and governance controls.

Officials from the British Virgin Islands have come together to clarify various filing deadlines as per the automatic exchange of information systems in a press release.

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.

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.

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 Power of Attorney (POA) is a document created by a person who appoints another person to act on his behalf. The creator of the POA is called the donor, and the person appointed to act on behalf of the donor is called the donee. There are several types of POA, each with different functions. Powers of Attorney are used in a wide variety of transactions.

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.

There are various conditions a company must fulfil in order to be struck-off legitimately. One of the conditions is that the company must have filed all the tax returns until the date of the strike off. The Directors and Shareholders must ensure that any outstanding income, tax returns, accounts and tax computation have been submitted up to the date of cessation.

Cyprus Tax Reform 2026 guide for advisers on income tax bands, corporate tax, SDC, dividends, crypto, stock options, CGT and compliance

How to register a company in Singapore in 2025. Expert guide to ACRA requirements, corporate taxation, compliance and costs for foreign entrepreneurs.

During 2013 the Cyprus Banking sector faced its most challenging period to date. As a result of a sequence of events, see below information, several Cypriot banks were left with significant imbalances.

A resolution of the board of directors is a formal document that records the decisions or intentions of the board of directors' members on behalf of the corporation. Board resolutions record decisions such as changing ownership, voting for new board members, or selling company shares.

This article details a beginners guide to capital statements; what to include in them, what the figures mean and how to understand and interpret them; avoiding common pitfalls many individuals experience along the way with filing their own.

Understand Hong Kong company costs after incorporation, including statutory fees, annual returns, audit, tax filing and compliance support.

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.

The new law states that an ABSD of 35% must now be paid in advance in such a case. However, a tax refund is possible if the sale of residential property is to a trustee who holds the assets of one or more identifiable beneficiaries in the trust. Testamentary trusts are also exempt from tax.

The provision of Payment Services in Cyprus is regulated by The Payment Services and Access to Payment Systems Laws of 2018 and 2019, which transposed into national law regarding the provisions of the Payment Services Directive in the Cyprus market. With the license, an EMI in Cyprus may offer its services freely within the entire EU market.

Understand your Singapore Tax Identification Number (TIN). Our guide explains TIN formats (NRIC, FIN, UEN), who needs one, and how to use it for tax filing and GST registration with IRAS.

Guide to Hong Kong common seals, company signatures, deeds, electronic signatures and execution controls for private companies.

Practical guide to Hong Kong SCR duties, significant controllers, Form NR2, designated representatives, penalties and bank KYC alignment.

The scheme was originally designed to make it possible to protect a trademark across a number of jurisdictions by obtaining an international registration that has effect in every participating country. The Madrid system provides a way to grant protection for a trademark in a simple, effective yet relatively inexpensive manner.

Singapore’s Finance Minister Heng Swee Keat unveiled the 2016 budget. This year the notable points for discussion focused on innovation and enterprise. A large section of the budget has been allocated towards the need for growth in Singapore businesses to an international level, as well as keeping up with developing modern technology.

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.

AGENDA: Shareholders: appointment & requirements, Officers’ duties, roles & responsibilities within a company, Company Directors their duty within the company, Distribution of profit, capital & duties within a company, Ultra vires: common law, modern legislation, Company Officers: Secretary & Registered Agent, Company Secretary: powers & potential liability.

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.

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.

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.

Representatives from the troika of Cyprus’ international lenders recently visited Cyprus for conducting their 4th post-scheme investigation following the islands recent withdrawal from the economic adjustment programme as agreed with the terms of the bailout.

This 2 part series is part of a guide detailing Annual Requirements for UK registered companies. It will cover the rules governing filing of annual returns and accounts of UK registered companies, by company type.

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.

AGENDA: Definition of ICOs, Users - Investors, Cryptocurrencies vs Tokens, ICOs vs IPOs, Legal approach (U.S. – Singapore), Examples of regulation in Singapore

On the 7th of May, 2015 a new legislation was published in the Official Gazette of the Republic of Cyprus, that of Insolvency Consultants Law of 2015 (64(I)/2015 (the “Law”). This new legislation outlines the criteria for qualification, regulation and monitoring of persons that have the role of insolvency consultant.

To align with global initiatives against tax evasion and ensure fair taxation, Hong Kong has revised its Foreign Source Income Exemption (FSIE) regime for passive income. The amendments were made in accordance with the European Union's Guidance on FSIE regimes, following Hong Kong's inclusion in the EU's watchlist of jurisdictions with potentially harmful tax practices in 2021.

EU right-to-repair rules now apply through national measures. Learn the new manufacturer duties, seller remedies and repair-market obligations.

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 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.

The bank’s obligations to keep the bank secrecy are usually implied within client contracts. The contract does not protect the client when a third party has retained and disclosed confidential information, whether it happens accidentally, with the intention or with consent.

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".

When can a Singapore CSP rely on another professional? Practical guide to referrals, third-party CDD, outsourcing and regulatory responsibility.

The Monetary Authority of Singapore has released its plans to further control and regulate the current elusive virtual currency market and intermediaries that facilitate their online trade in Singapore. The anonymity surrounding so-called crypto currencies such as bitcoin raises questions over potential money laundering & terrorist financing risks.

AGENDA: Definition of corporate tax residence, Circumstances under which a company can be considered as a UK resident, Tests to examine the residence of a company, Guidelines

The European Commission (EC) has launched public consultations on a new draft directive on intermediaries that facilitate tax evasion and "aggressive tax planning".

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

Following the recent commotion created by the Swiss National Bank’s decision to discontinue the minimum exchange rate of 1.20 Swiss francs per euro with immediate effect, the Cyprus Securities and Exchange Commission (CySEC) is endeavouring to instigate an assessment of how far Cyprus Investment Firms (CIFs) have been affected.

Some companies conducting a particular type of activity need to fill out notices of economic substance and submit reports. The Economic Substance Report/Notice must be submitted through the UAE Ministry of Finance Portal by the due date.