An individual is not regarded as a shadow Director solely because the Company Directors act on the advice given by that individual in a professional capacity. There are various exceptions and whether or not a person is a shadow director is a question of fact and dependent upon all the relevant circumstances.

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

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.

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.

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

ECI means Estimated Chargeable Income. It is an estimate of a Singapore company’s chargeable income for the given Year of Assessment (YA). The amount of ECI declared is based on the amount before the deduction of any exempt amounts under the partial tax exemption or tax exemption schemes for new start-up Singapore companies.

AGENDA: Definition of Cryptocurrencies, where we will cover some of the definitions issued by a few regulators and we will provide a the general technicalities of Cryptocurrencies, Cryptography, Blockchain, Distributed Ledger Technology, Legal approach, where we will discuss the regulatory approach towards Cryptocurrency around the world and with special focus in key jurisdictions, Regulatory outlook

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

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.

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.

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.

AGENDA: Definition of Company Director, Duties of Company Director, Extent of such liability, D&O Insurance Liability, Conclusion

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 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.

AGENDA: Personal income tax, Special contribution, Corporate tax, Back to back loans, Annual levy, Special defense contribution tax, Capital gains tax, Immovable property tax

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

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.

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.

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.

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.

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.

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.

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

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.

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.

AGENDA: Classification of foreign companies, Company documents, Authorised capital, Offshores and offshore jurisdictions, Onshore companies, “Grey” and “Black” lists of countries, Nominee service, Beneficial Owner, Due Diligence & KYC, Company Tax Residency, Company liquidation

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.

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.

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.

On the 7th of May, 2015 a new legislation was published in the Official Gazette of the Republic of Cyprus, that of Insolvency Consultants Law of 2015 (64(I)/2015 (the “Law”). This new legislation outlines the criteria for qualification, regulation and monitoring of persons that have the role of insolvency consultant.

On the 4th of August, 2015 Cyprus and Iran signed a Double Tax Treaty agreement during an official visit of the Iranian Finance Minister in Cyprus is hoped to strengthen and develop the economic relations and allow for the expansion of investment and business opportunities between Iran and Cyprus.

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 key for a successful Financial Organisation and/or Administrative Service Provider is to have a completed and accurate profile for each new and existing client they have a business relationship with.

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.

Royalty is the consideration for the use of, or the right to use any copyright of literacy (Software), or any artistic or scientific work. It consists of patent, trade mark, design or model, secret formula, information or process which is usually a secret and not commonly available in the public domain. Information (know-how which is not registered) concerning industrial, commercial or scientific experience.

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.

A Shareholders’ Agreement (SHA) is a confidential legal document distinct from all other statutory documents of a corporation, applicable in cases where there are more than two shareholders and it is essentially an agreement between all the Company Shareholders that covers how the business is going to operate.

The fact that money can be transferred from one jurisdiction to another means, that money laundering as a concept involves the entire modern world. In the United Kingdom, banks are always under the supervision of strict regulatory bodies.

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).

As per Hong Kong company’s ordinance subdivision 3 section 379 subsection 1, a Company Director will have to prepare year-end financial accounts that comply with sections 380 and 383.

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

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.

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.

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.

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.

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

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.

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.

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.

To make things easier for taxpayers, the Cabinet of Ministers of Cyprus has extended the filing tax returns deadline for a month. Recently, Finance Minister Konstantinos Petrides announced this decision.

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.

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 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.

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.

To align with global initiatives against tax evasion and ensure fair taxation, Hong Kong has revised its Foreign Source Income Exemption (FSIE) regime for passive income. The amendments were made in accordance with the European Union's Guidance on FSIE regimes, following Hong Kong's inclusion in the EU's watchlist of jurisdictions with potentially harmful tax practices in 2021.

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.

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.

A Creditor may apply to court for the issuance of a liquidation order against a company that does not comply with a demand notice to pay any outstanding debts. The notice of demand is served to the registered office of the company, who then has 21 days to pay the fine.

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).

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

The Singapore Tax Authority (IRAS) have special rules relating to the taxation of investment companies. An investment company is one that owns investments such as properties, shares, bonds and therefore derives income such as rental, dividend and interest.

Demand Generation marketing efforts refer to the various marketing approaches companies of different sizes and stages of commerce need in order to drive attention and interest in products & services, to acquire clients. Essentially what turns a good idea into a sustainable business.

One of many legal disputes resulting from the recent infamous Kazakhstan BTA bank fraud case has shed new light on a little-known immigration scheme colloquially known as the golden visa scheme and officially called a Tier 1 Investor visa in the UK.

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.

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

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

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

AGENDA: What is SAR, Importance of SAR reports, When do I need to send a SAR?, Sending SAR in non-regulated sectors, Reliability of information specified in the SAR, The concept of Tipping off, SAR Online

Cyprus tax reform 2026 analysis: 15% corporate tax, 8% crypto tax, dividend changes. Strategic insights for businesses and investors on upcoming fiscal changes.

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.

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.

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.

The Cyprus Ministry of Finance has released a statement regarding the IMF (the International Monetary Fund) & the European Commission is recommending Bills regarding the islands longstanding issue with Non-Performing Loans.

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.

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

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).

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.

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.

Master your ECI filing in Singapore. Our complete guide covers deadlines, penalties, calculation, and e-filing with IRAS. Learn about exemptions and ensure full tax compliance.

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.

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.