AGENDA: What is the purpose of compliance?, The different types & reasons behind briberies, International legislation on anti-bribery compliance, The impact of UKBA & the FCPA, ISO 37001 and its main objectives, How to build anti-bribery compliance, Governing body’s duties in anti-bribery compliance, Top management’s duties in anti-bribery compliance, Anti-bribery compliance functions, Suspicious reporting, who & in what circumstances, Tipping off procedure.

At the request of a Cyprus company’s Shareholder, where it is proven that a more comprehensive investigation is required regarding a company’s activities, the court can issue a declaration of investigation by an inspector appointed by the Cyprus Council of Ministers.

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.

The European Commission has recommended the implementation of a new regulation regarding companies or intermediaries who promote or design cross-border tax planning schemes will going forward be required to provide full disclosure to the tax authorities of their relevant jurisdiction within five days of offering them to clients.

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.

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.

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.

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.

ACRA announced that they will be making legislative changes to the Singapore Companies Act which will be taking effect in two phases; the first phase is effective from the first of July, with the second phase to be implemented in the first Quarter of 2016.

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

Recently, the Cyprus economy has seen relatively steady growth rates and booming tourism levels over the last few years. The relatively high increase of GDP can be attributed to a number of factors: declining official unemployment rates; surplus government funds and the raising of large financial deals in international markets.

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.

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.

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.

Master Hong Kong's 2025 transfer pricing updates. Learn about new documentation rules, controlled transactions & TP compliance for MNEs. Avoid penalties with our strategic guide.

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

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

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

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.

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.

Category F immigration permit offers permanent staying in Cyprus without need to obtain any visas, residence permit renewals or re-entry permits. Category F immigration permit can be granted to a person who can secure an annual income of an adequate amount from abroad (not earned 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.

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.

Amendments to the Intellectual Property Bill, which came into force in May 2022, were passed in Parliament. The bill amends the existing Patent Law, Trademark Law, Registered Designs Law, Geographical Indications Law of 2014, and Plant Variety Protection Law to improve business friendliness, operational efficiency, and clarity of law and procedure.

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.

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.

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

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.

An individual is considered to be tax resident in Cyprus by spending a total (consecutive or otherwise) of 183 days or more in any one calendar year in Cyprus. Anyone earning an income in Cyprus falls into two categories.

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.

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

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).

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.

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 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 shareholders’ continuity test holds that the same shareholders must hold at least 50% of the company’s total shares as at both the relevant dates. If the test was not fulfilled, the losses would be dismissed permanently unless a waiver to fulfil the test is obtained from IRAS.

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.

While the crypto-frenzy has significantly cooled down so far in 2019, with values in currencies like Bitcoin falling; meanwhile Fin-tech has continued to snowball, pioneering the likes of blockchain technologies, digital wallets and mobile applications.

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.

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.

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.

The OECDs global tax transparency initiative was launched last year in April 2016, with the purpose of encouraging every jurisdiction across the world to commit to implementation of a CRS (Common Reporting Standard) for automatic exchange of information by 2018, and to sign the Multilateral Convention on the exchanging of tax data.

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 Foundation is a non-governmental and non-profit organisation which is usually created by an individual or a business and whose funds are managed by its own Trustees or Directors, either as a non-profit corporation or as a charitable trust. One common type of a Foundation is a Family Foundation.

Hong Kong finalised and signed an agreement with Indonesia to allow for the automatic exchange of financial information (AEOI) regarding all tax matters.

This year’s budget did not emphasise on significant tax changes. The government wants to restructure the Singapore economy to achieve quality growth. Businesses that make investments in productivity to save manpower or achieve innovative breakthroughs will be actively supported by the government.

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 EC (European Commission) has published its draft legislation compelling financial service providers or intermediaries to disclose any international tax planning schemes they have encouraged, enabled or assisted in any way.

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.

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.

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

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

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.

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.

Nowadays, an increasing number of Russian companies are required to prepare their Financial Statements as per the International Financial Reporting Standards (IFRS).

Ship owners enjoy tax exemption on specified income derived from the operation of a Singapore-flagged or foreign flagged vessel under Section 13A and 13 F of the Singapore Income Tax Act (SITA).

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.

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".

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

Significant changes to the commercial and company law in Singapore have come into effect. The changes to the Singapore Companies Act will hopefully make business entities more transparent as well as mitigating the risks of money laundering and terrorist financing.

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 Electronic Money Directive is the UKs answer to controlling and standardising Electronic Money Regulations and electronic money institutions. The regulations have now created a separate authorisation for issuers of electronic money in the UK that are not full credit institutions, unions, or publicly funded banks.

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

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.

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.

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

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.

This article looks at the many benefits associated with overseas banking; and how this has left the industry open to abuse.

AGENDA: What is compliance and what is it for?, Relevant legislation, Principles of implementing of the compliance function, How to organise compliance control in the company, The basic skills that an expert in the sphere of compliance should have, Example of good implementation of compliance function

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 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.

All Singapore Registered Filing Agents (RFAs) were sent a friendly reminder from ACRA regarding ensuring all entities are acting in compliance with Singapore legislation.

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 Cyprus Assessment and Collection Law, as amended in 2002, introduced a regime with a provisional income tax system. Corporate tax in Cyprus is levied at a rate of 12.5% and can be paid through the JCC Smart platform. Based on the current period's results, companies that do not expect taxable profits do not submit a tax calculation.

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

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.

Applying for a residence permit (also known as the yellow slip) is a process which is to be completed by every EU citizen living and working in Cyprus. And once you have managed to obtain it, the permit does not expire and is valid indefinitely.

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

As a result of the ACRA Amendment Act in 2014, Registered Filing Agents and Corporate Service Providers now have to conduct independent Anti-Money Laundering / Countering the Financing of Terrorism (AML/CFT) reviews as part of their annual audit reviews.

AGENDA: Different types of interviews & situations for different jobs, What does a competency based interview usually involve, The pros & cons of a competency based interview, How to use this method in practice & preparation tips, How to stand out from other candidates.

Overseas companies may register a branch in Cyprus, according to the Companies Law, Chapter 113, regulated by section 347. A branch will not essentially consider as being a new legal entity in Cyprus.