Cyprus has successfully undergone a positive assessment and will officially become a part of the Schengen information system. This development signifies that Cyprus will now have the capability to exchange valuable information with other Schengen member states.

No withholding tax applies on interest and royalties when paid from a Russian Company to a Cypriot company. This was ratified on the Protocol and signed by Russia and Cyprus during 2012 and implemented in 2013.

In an attempt to recover the approximate 600B euros lost within various EU countries to tax evasion schemes each year; the European Union has released its first official blacklist naming 17 jurisdictions that have failed to meet international standards of implementing sufficient regulations and transparency measures.

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.

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).

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.

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.

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).

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.

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.

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

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.

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.

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

AGENDA: What is a contract?, How is a contract made?, What is required for a legally binding contract?, When does a contract become effective?, Illegal and voidable contracts, Remedies

Cryptocurrencies have exploded in popularity in recent years. As a result, there is renewed interest from regulators in Singapore, the United States, Japan and China to have oversight in the cryptocurrency space and curb the potential of widespread money laundering and fraud.

The following article will examine various duties of loyalty to a business that are owed by Senior Employees, partners, Company Directors, and mere employees using supporting legislation from the Companies Act 2006 and principles established from UK common law cases.

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.

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.

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.

AGENDA: General information on Hong Kong, Company registration procedure and types of companies in Hong Kong,MCompany corporate documents, First directors, shareholders and company secretary, Nominee service, Compliance regulations, Options to liquidate a company

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.

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.

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.

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.

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.

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.

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.

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.

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.

Each licensed Administrative Service Provider (ASP) in Cyprus is registered under CySEC, and must comply with the preparation and submission of the required reports in order to be eligible for maintaining a valid license in Cyprus.

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.

The doctrine of the corporate veil was developed in the UK, where it finds its most frequent usage in case law. In practice, there are three occasions when the court has lifted the veil: application of the terms of a contract or statute, or as a matter of common law.

The Accounting and Corporate Regulation Authority (ACRA) of the Republic of Singapore defines the Charge as “a form of security interest usually taken by a lender or creditor (“chargee”) to secure the repayment of a loan”.

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.

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

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

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.

When expanding your business overseas, not only do you have to comply with International Financial Reporting Standards (IFRS) and accounting standards, thought must also be given to the specific jurisdictions own rules and regulations.

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

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.

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.

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.

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.

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.

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 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.

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.

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

As a result of the 2006 amendment to the Companies’ Law Cap.113, foreign companies can be re-domiciled in Cyprus and companies registered in Cyprus can be re-domiciled abroad.

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: 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?

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: 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 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 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.