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.

In order to apply for a work permit (also referred to as a working visa), the company must be eligible to apply for employing third country nationals. Eligible companies are considered where the majority of Shareholders are non-EU nationals; including Shareholders whose ultimate owners are foreign companies.

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

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.

It should be noted that bookkeeping in new Singapore companies is not just keeping records and receipts. As an entrepreneur, you will need a vast amount of new knowledge in managing and reconciling these records. When taking the first independent steps in the accounting business of a Singaporean company, your actions must be verified and well thought out to avoid future financial complications.

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.

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.

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

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.

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 financial experts voicing their concerns over ICOs being too much of a risky investment, however should we be so quick to dismiss ICOs as a legitimate vehicle? ICOs can be used as a substitute for Venture Capital funding due to parallels in the phase of company’s lifespan and risk profiles, which give potential opportunities for future start-ups and companies.

The UAE recently released their own version of CFC legislation: The Cabinet of Ministers Resolution n.31/2019 which came into effect in April earlier this year, in order to better regulate Economic Substance (ES) in the United Arab Emirates.

The following companies shall, in accordance with the provisions of the Auditors and Statutory Audits of Annual and Consolidated Accounts Law2009 submit their financial statements to an Auditor for auditing: every company required by this Law to prepare consolidated financial statements; every public limited-liability company; every private limited-liability company not being a small-sized company.

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.

Cyprus Company Law provides for a member led voluntary winding up of a company. In order for this to occur the company must be solvent. The voluntary winding up of a Cyprus company is formalised in Article 261 – 292 of the Cyprus Companies Law.

As per the ACRA requirements for companies in Singapore, an Annual General Meeting (AGM) must be held once every calendar year. However, under Section 175, an application is available to apply for an extension.

AGENDA: Part I: Definition, types and certainties of a trust, Part II: Analysis of the Cyprus International, Trusts - Conclusion

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.

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

When income is paid to a non-resident of a country, it is typical of the country to collect tax from the non-resident; the payee is required to withhold tax before paying the net amount to the non-resident. It is a tax subsidised by a non-resident on income derived or deemed to be derived from Singapore.

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

The requirement to maintain a register of people with significant influence or control, more commonly known as the PSC register was introduced to mandate all unlisted companies in the UK, including LLPs and dormant companies to maintain a register identifying those with significant control over a company.

Hong Kong Articles of Association 2025 guide: essential for company setup and compliance. Covers purpose, mandatory content, and how to amend under new laws.

Complete guide to Singapore CSP Act 2024 registration requirements, AML/CFT rules for corporate service providers and extended 13O/13U tax incentives for family offices.

AGENDA: Why did Trusts & Foundations gain popularity?, Modern offshore trust legislation was created following a demand from High Net Worth Individuals (HNWI) looking to protect their property, Trusts, What is a trust? Common Law view: fundamental principles, Trusts in Modern Offshore Trust Legislation, Use of Trusts in asset protection as well as succession of wealth and distribution, Foundations, When is a Foundation used instead of a Trust?, Foundations: creation and management.

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.

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.

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.

Last month, the Court of Justice of the European Union (CJEU) issued a series of important judgments dealing with tax avoidance and beneficial ownership in the context of the EU Parent-Subsidiary Directive (PSD) and the Interest and Royalties Directive (IRD).

According to the Singapore regulations the digital tokens can be classified as “securities” or as “utilities”. The real nature of the digital token identifies the rights attached to it and the terms of its regulation.

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.

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: Cyprus vs. Singapore, Tax systems overview, Main tax principles in Singapore, Tax exemption of foreign income, Tax exemptions for the newly incorporated companies (Start-Up Co), Tax Residency Certificate, Administration of tax system in Singapore, Calculation of Estimated Chargeable Income (ECI), Minimizing of taxes and avoiding of taxation, Goods and Services Tax (“GST”), How to use the company 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

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.

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.

Some call it symbol, others name it as mark or logo but in reality, it is the way the public at large can identify and recognise a particular product and or service and has been considered by many people as the most valuable asset and as indicators of source.

Regardless of an individuals’ status of tax residency or domicile, an expat relocating to Cyprus from overseas qualifies for one of 2 income tax reductions on revenue generated from legitimate employment.

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.

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.

Singapore’s national regulator of business entities, Accounting and Corporate Regulatory Authority (ACRA) have introduced a number of legal changes and new legislation regarding how companies are required to file their annual returns, which will impact Corporate Service Providers (CSPs) in Singapore.

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.

A Cyprus company might decide to wind up as a result of various reasons and such procedures may be a challenging and lengthy task. The difficulties faced and time to complete is dependent upon many factors, including how well the company has been managed and administered throughout its existence, the method chosen for closing down and who performs such a processes.

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.

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.

Strategic guide to increasing share capital in Cyprus. Learn about Cyprus corporate law, tax implications, and registration procedures for corporate growth and investment.

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.

AGENDA: Purpose and definition of a Double Tax Treaty ('DTT'), Types of DTTs dealing with tax matters, History of DTTs, DTTs and domestic law, Format and structure of a DTTs, Tax covered and not covered by DTTs, Interpretation of DTTs.

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.

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.

AGENDA: Tax Residency – general application, Cyprus Tax Residency rules, General Rule VS “60 Day” Rule, Procedure to obtain Cyprus Tax Residency under “60 Day” Rule, Main tax guidelines for Cyprus Tax residents

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.

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.

In the following article, we will summarise and weigh up the differences between a limited company and a limited liability partnership to provide increased clarity between the two structures.

The sharing economy has become an important aspect of our daily lives, from Air BnB to Uber, some of the companies with the highest growth all involve an element of sharing resources; with many other products and amenities being shared and leased.

Recently, the Cyprus Central Bank issued guidance to banks & credit institutions, advising them of the new mandatory refusal to take on new clients or to continue servicing existing accounts with so-called shell or letter-box companies.

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

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.

The Cyprus banking sector is struggling with the overwhelming level of NPLs, no matter the efforts exerted by the main banks in Cyprus by following conventional banking models to balance their profit/loss reports, NPLs remain to be the proverbial hole in the bucket. More radical and revolutionary approaches and actions should be considered by banks and lenders in Cyprus.

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.

When cryptocurrency issuers want reviews for their coins, reports have surfaced that several prominent companies have been found offering money to advertisers in exchange for positive appraisals.

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

Cyprus reforms sanctions law, increasing corporate liability. Learn about enhanced due diligence, penalties, and compliance strategies for 2026 enforcement.

Your complete guide to the Singapore Certificate of Incorporation. Learn about its legal importance, how to get it from ACRA via BizFile+, its contents like UEN, and its uses for banking and compliance.

AGENDA: Corporate Tax, Personal Income Tax, Real Estate Tax, Stamp Tax, Other taxes (are not covered in this presentation)

AGENDA: Main criteria for choosing of a bank, Corporate Bank account Opening, What you need to know for Singapore as jurisdiction, Main requirements for a bank account opening in Singapore, Corporate Bank Account Maintenance, Automatic exchange of Information, Closing of Corporate Bank Accounts in Singapore

Singapore provides a well-regulated legal framework as well as all the benefits of a stable financial centre with a reliable reputation, excellent banking system and low tax rate. Due to these factors, Singapore is one of the most optimal jurisdictions for Initial Coin Offerings (ICO) fundraising.

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.

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.

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.

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

AGENDA: Criteria for choosing your bank, Corporate Bank Account Opening, What you need to know for each jurisdiction, Corporate Bank Account Maintenance & Bank Transfer Fees, Costs, Why Banks are closing Corporate Bank Accounts, Voluntary closing of a Corporate Bank Account

The 2017 G20 leaders’ summit took place in Hamburg last week where the European Commission Council and leaders discussed the priorities and primary projects for the upcoming summit. EC President Jean-Claude Juncker has stated that advancing the global combat against tax evasion is top of the list.

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.

AGENDA: Definition of Company Director, Laws imposed a liability on Company Directors, Extent of such liability, Consequences, Conclusion

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.

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

AGENDA: The Cyprus registrar of companies, The types of Cyprus companies, The KYC rule, Nominee service, Company incorporation procedure, Company maintenance and financials, The methods of dissolving a Cyprus company

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.

Strategic EU location & low taxes make Cyprus ideal for company formation in 2025. Enjoy Cyprus IP Box tax breaks, Golden Visa & the 60-day tax residency rule.

An investment fund is a common term used for when several investors use their own capital to collectively buy securities with each Shareholder retaining ownership and control over the individual shares.

Intellectual Property (IP) is one of the most valuable assets of an organisation. Choosing the right location for the management of Intellectual Property is an imperative strategic business decision.

The Ministry of Manpower requires foreign highly skilled professionals, Managers, Executives, specialists or entrepreneurs who wish to work in Singapore need an Employment Pass to commence employment. The Entrepreneur Pass is a type of employment pass for foreign entrepreneurs who would like to start and run a company in Singapore.

Pursuant to Part III of Chapter 113 of Cyprus legislation, Mortgage Registration with the Cyprus Registrar emerges as compulsory by law. Certain formalities need to be followed regarding the filing of such registration as well as any amendment, concession and any other alteration which takes place following the formation of a Company in the Republic of Cyprus.

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

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

Rapid advances in technology and the higher demands and increasingly complex international clients are forcing Singapore-based Lawyers to transform the way they work. An example of this is the huge of growth of Wi-Fi on airplanes, with many cities now providing coverage free of charge including on metros and trains.

The UAE recently released their own version of CFC legislation: The Cabinet of Ministers Resolution n.31/2019 which came into effect in April earlier this year, in order to better regulate Economic Substance (ES) in the United Arab Emirates.