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.

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.

Singapore has a government who recognises the potentials of what SMEs can do for the economy and likes to support them accordingly. Since June 2014, Singapore has been chairing the ASEAN SME Working Group. Singapore hopes to lead fellow ASEAN members into the realisation of the ASEAN Economic Community for SMEs in 2015.

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.

AGENDA: Characteristics of a Company, Company formation & related issues, Separate Legal Entity: meaning and relevance, The corporate veil, Share Capital, Company constitution, Company objects

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 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.

The list is an EU-provided of high-risk third countries; including the non-cooperative and other monitored jurisdictions that have been officially identified by the Financial Action Task Force (FATF).

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.

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.

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".

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.

Filing annual returns can be risky for a small company just starting a business. Also, you will have to deal with other issues, such as compliance with the law. To simplify the process of filing annual returns, you need to know the essential requirements.

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.

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.

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.

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.

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.

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.

As companies develop and grow, in turn so their marketing priorities and budgets. What is required to obtain the first 10 clients will be entirely different to the first 100.

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.

The so-called golden visa scheme has been a major reason behind the economy's return to growth, economists say. At first, the investment scheme required an overall investment in Cyprus of €5m, some of which had to be in property.

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 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.

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.

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

In this article, we will try to succinctly describe the technical and legal characteristics of Cryptocurrencies. The understanding of Cryptocurrencies is crucial for today’s modern payment services and investment opportunities around the world.

ICOs create wide-ranging implications for Bookkeepers and Accountants, opening up opportunities for a range of new services however also raising attention towards moral issues, ethic and other potential security risks.

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.

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.

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.

In an effort to improve the global reporting standard of local tax systems and combat tax avoidance, governments from various jurisdictions will bring the automatic exchange of information in tax matters for all countries up to the same standard. This is referred to as the Common Reporting Standard (CRS).

AGENDA: Introduction To Copyrights, Patents & Trademarks, Nature of Rights, Rental and Lending Rights, Duration of copyright and moral rights, Exclusive rights, the fair use doctrine, Absolute grounds for refusal, Relative Grounds for Refusal, Exploitation and use of trademarks, Limitations, Infringement and possible remedies, Misrepresentation.

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.

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

Following Circulars No.2011/11 and No.2011/5, this article will explain what a “dormant company” is, its symptoms and consequent requirements. The following is an extract from PART 1.7 of the “Company Income Statement” form (EP 4), whereby a definition of a dormant company is considered to be a company that meets certain conditions.

A new regulation will require certain British Virgin Islands companies to gather and retain details of Beneficial Owners with 25% or more of the company’s shareholding rights, with an ongoing requirement to keep the details up to date.

Cyprus employees who are considered to have tax resident status, pay tax on their global income. Employees not considered to be tax resident are only charged for specific types of income that are originating from Cyprus-based sources.

The following article is intended to highlight the stages involved in the visa application process for Russian citizens wanting to immigrate to live in the UK. There are many different ways to apply, depending on each applicant’s circumstances and requirements.

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.

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.

AGENDA: Panama Papers: details about what happened and why, Offshore companies: are they legal?, Mossak Fonseca, Worldwide reaction & response to the leak, Consequences: cause & effect, Further implications, What to do after the leak, implications to the offshore world and service providers. Tax planning in a new context, How can ECS help?

The transformation of the sector inevitably requires appropriate funding, and ship financing has become critical for the shipbuilding sector and shipping companies worldwide. The financing aspect of shipping includes the corporate financial management of shipping companies to refinance existing debts and the financing of new shipbuilding.

Cyprus Minister of Finance Mr Harris Georgiades released a statement condemning critics of the Cyprus passport by investment programme that has seen raise over €4 billion since the launch of the scheme in 2013 which was implemented to attract foreign investment to mitigate damage in light of the banking crisis.

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.

The exclusion of shareholders from the company as quickly as possible may be necessary if there are disputes between majority and minority shareholders, between directors and shareholders, etc. Such disputes with shareholders may affect business operations, such as the inability to obtain enough votes to make decisions at shareholders' meetings due to conflicting points of view.

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.

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 requirement to file and maintain a list of Directors and Beneficial Owners for all Seychelles companies or “IBCs” registered under the International Business Companies Act 2016 has been introduced to as a way to increase the transparency of all Seychelles international businesses for tax and money laundering purposes.

Money laundering is the act of transforming money or other money obtained as a result of any illegal activity, in money or investments that appear legal, so that their illegal source cannot be traced.

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

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.

This article will cover the main points regarding obtaining tourist and business visas, residence permits, work permits and other aspects of immigration to Singapore.

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.

Non-EU nationals and foreign-controlled companies buying property in Cyprus should treat Cap. 109 as the operative starting point. In ordinary cases, acquisition may require permission before transfer. Investors should check title, deposit the sale contract correctly, prepare source-of-funds evidence, and monitor pending reform before committing to timing or structure.

The Honourable Dr. Orlando Smith, Premier and Minister of Finance has announced that the BVI Government will take all reasonable steps to address European Union concerns about economic substance and a new Legislation is intended to be in force by the end of December 2018 in order to avoid the European Union Black List of Tax Heaven Jurisdictions.

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.

Since the report on the collapse of the Cooperative Credit System was released recently, everyone seemed to have an opinion on the matter about who was to blame for the whole debacle. The report was fairly conclusive, giving a general overview of what the public enquiry discovered.

Establishing a Shareholder Agreement will effectively set out the organisations fundamental running’s, some examples include how decisions are agreed upon and implemented; how shares can be sold or transferred. It guarantees that founding member roles are clear on the company’s main principles, and in agreement that all obligations are assigned fairly.

AGENDA: The Role of KPIs, KPI definititon, Short & Long Term Goals

The US Securities and Exchange Commission has indicted 11 individuals for their role in creating and promoting Forsage, an alleged fraudulent cryptocurrency pyramid scheme and Ponzi scheme that raised over $300m from private investors worldwide.

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.

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 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.

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

Learn about the Singapore Certificate of Residence (COR). Our guide covers eligibility, how to apply via IRAS for tax treaty benefits, and its role in international tax planning.

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.

Payment for the management or assistance in the management of any trade, business or profession that are: borne by a person resident or with permanent establishment in Singapore; which are deductible against any income accruing in or derived from Singapore, have no statutory definition of management or assistance in the management of any trade, business or profession.

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.

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

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: An in depth look at Corporate Governance, Annual general meeting (AGM): frequency, requirements & agenda, Convening & recording attendance during a general meeting, The voting procedure, Quorum, role of the Chairman, Motions & resolutions decision making process, Director Meetings, Written Resolutions, what are they?

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.

Startups are growing and changing the Singapore ecosystem for the better with their innovative ideas and new technologies. Like small and young companies, startups may need funding and guidance to start their business. If you are a startup founder looking for investors for your business and want to know how to attract them, this article is for you.

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 Government in Panama officially approved Law Number 52; legislation which creates the regulatory framework for the implementation regarding automatically exchanging tax information, in a further attempt to comply with global regulations for tax transparency, and to be fully in line with all supervisory and compliance matters.

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.

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.

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.

A Singapore 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.

This article is intended to help corporate service providers understand and identity how money launderers typically operate in order to successfully target and stop those who are facilitating crimes being turned into profit.

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.