The Cyprus Tax Department has released a notification to all Cyprus based Financial Institutions & Service Providers of the new guidance notes on the Automatic Exchange of Financial Account Information and other information relating to the Common Reporting Standard (CRS).

With the increasing diversity of business ventures, Trademarks which have been traditionally comprised of words and/or logos that relate to visual representations, have given way to a plethora of other marks that are distinguishable by senses other than sight.

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?

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

To Brexit or not to Brexit – this has been the question of the year for Britain and with the referendum taking place imminently, just two options remain: leave the EU or stay in.

AGENDA: What is the Automatic Exchange of Information?, The purpose for using the Automatic exchange of information, The Automatic Exchange of information: Theory and Practice, Current procedures related to the Automatic Exchange of Information, Implications of the Automatic Exchange of Information

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.

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

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 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.

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.

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.

Belize has amended its International Business Companies Act. These changes were to maintain its financial services industry in the increasingly regulated international market & meet the OECD white list requirements.

This year, the Republic of Cyprus ratified The Hague Conventions’ definition of the legislation applicable to trusts and furthering the regulations surrounding their recognition. Cyprus common law now recognises trusts as a unique legal institution under equity.

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.

AGENDA: The Scheme & the Benefits, The Criteria & the process, Documentation required, How Eltoma can assist

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

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

AGENDA: Definitions, Regulatory framework in the U.S., Regulatory framework in the E.U., Regulatory framework in Singapore

The financial and reporting requirements for Scottish Limited Partnerships (SLPs) vary depending on whether the company is a micro-entity, or a small, medium or large entity. Micro-entities and small companies benefit from less burdensome requirements.

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.

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.

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

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 June 2019 plenary session of the global Financial Action Task Force (FATF) ended with the issuance of a binding interpretive note for international regulation of virtual assets and virtual-asset service providers.

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.

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.

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.

Technically speaking, anyone can write a will for themselves or on behalf of others. However, just because you’ve written your own will doesn’t mean it’s necessarily valid.

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.

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.

Malta and Cyprus undeniably have the most favourable citizenship by investment programmes in Europe. This article will compare the passport programmes on offer by Cyprus and Malta, as well as the differences in the tax regulations for both countries.

The combination of an exponential increase in potential blockchain applications has become a real reason for the emergence of a new format of the digital economy. It is an entirely new product that has launched a mechanism for additional control by regulatory authorities.

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.

Despite having one of the lowest corporate tax rates in the world, as a jurisdiction, Singapore still offers many incentives for investors including tax holidays and concessions, accelerated depreciation schemes, and favourable loan conditions to attract foreign investments.

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.

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.

ACRA have released new guidelines introduced to update the current system, bringing it transparently in line with other jurisdictions; going forward, businesses will be offered a copy of their business profile and the amount of information available for public use will increase substantially.

AGENDA: Reasons for conducting an internal investigation, Key success factors of an effective internal investigation, Productive cooperation with top-level managers- Penalties under the FCPA and UK Bribery Act, Basic skills an expert in the sphere of corporate investigation should hold

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.

The Hong Kong government has published significant changes to its tax laws over four decades in its Official Gazette. These amendments introduced a tax on the profits of multinational enterprises from foreign sources, which is currently not taxed.

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.

An Electronic Money Institution (popularly known as an EMI for short) is a fully licensed financial institution which engages in electronic payment services. The full license for a Hong Kong electronic money institution currently has no restrictions to either trading period or sector of activities.

AGENDA: Cyprus Work Permit, Singapore Employment Pass, Cyprus Citizenship; scheme for naturalisation by exception of investors.

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.

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.

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

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.

In light of recent global events, Vladimir Putin, the Russian President, has declared that no measures restricting the Russian Web such as censorship or government-driven heavy regulations are to be undertaken. According to Mr Putin, the Government should take steps to provide Internet security for the purpose of state sovereignty.

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.

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.

Master the Hong Kong Companies Ordinance Cap. 622. Our guide covers company incorporation, director duties, shareholder rights, and key regulatory requirements for business.

Cyprus joining Schengen in 2026: Analysis of visa-free travel, investor residency benefits & business implications for companies using Cyprus structures.

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.

The EU Economic & Financial Affairs Council placed BVI in a list of countries with concerns however were actively working to resolve them. Appropriately, the BVI Government made a commitment to implement reforms by the end of 2018 to ensure that BVI businesses have adequate economic substance.

AGENDA: The division of power between the board of directors and the shareholders, Types of directors, their appointment and removal procedures, The purpose and extent of directors’ duties including to whom directors owe their duties, Nominee directors and risks that may arise, The regulation of directors contracting with their companies, The remedies and reliefs for breach of duty

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.

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?

Section 2(1) of the Singapore Income Tax Act (SITA) defines a PE to mean a fixed place where a business is wholly or partly carried out including a place of management, a branch, an office, a factory, a warehouse, a workshop, a farm or plantation, a mine, oil well, quarry or other place of extraction of natural resources, a building or work site or a construction, installation or assembly project.

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.

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.

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:- 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

Application of a manual process could work when managers have the persuasive skills and time to carry busy employees with them and apply the rigour required to consistently apply invoice approval and coding practices. Alternatively, the process can be significantly improved by introducing software.

Complete guide to Cyprus 2025 labor law reforms: EU directives implementation, remote work rules, overtime pay, and employer compliance requirements.

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

A formal enquiry into the Panamanian law firm Mossack Fonseca has been launched by the European Parliament’s Committee, which found gaps in beneficial ownership transparency for trusts and fiduciaries and didn’t meet the EU standard.

Step-by-step guide to Hong Kong private company share transfer. Learn about stamp duty, board approval, share transfer form & legal requirements for shareholders.

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.

Dematerialisation of shares is not compulsory and an investor can still keep shares in the paper form. Shares are part of the ‘life’ of the company, so dematerialisation has both positive and negative aspects that affect corporate governance.

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 financial world is undergoing a technological revolution, with approximately 3 trillion financial deals entered into using digital ledger technology (DLT) and smart contracts within the next five years.

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.

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.

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