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UAE and Australia Witness Surge in HNWIs, While UK Faces Significant Wealth Outflow in 2023

According to the recently published Henley Private Wealth Migration Report 2023, the UK is projected to experience a net outflow of 3,200 high-net-worth individuals (HNWIs) in the coming year. In contrast, Australia is projected to attract the highest net inflow of HNWIs in 2023, with an estimated 5,200 individuals seeking to establish residence there.

Is Portugal ditching the Golden Visa Scheme?

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".

Work abroad: Popular destinations among expats

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.

UAE: Important information about reports and notifications of economic substance filing

Some companies conducting a particular type of activity need to fill out notices of economic substance and submit reports. The Economic Substance Report/Notice must be submitted through the UAE Ministry of Finance Portal by the due date.

11 individuals charged under international crypto Ponzi scheme

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.

European Commission initiates consultations on intermediaries that facilitate tax evasion

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

New opportunities for legal support of blockchain projects in 2022

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.

The European Commission intends to introduce unexplained wealth order

The European Commission has published proposals to tighten its rules on emergency freezing, return and confiscation of assets, including confiscating the wealth of unknown origin without a conviction.

Competency based interview

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.

Employer branding – Why do companies need it?

AGENDA: Definition of the term brand and HR brand, The purpose of HR Branding for various organizations, Components of the HR Brand, Work Environment, Compensation and benefits, Achieving appropriate work – life balance, Company culture and environment.

Increasing your business efficiency: the secrets behind KPIs life cycle

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

Strike-Off and Liquidation Procedure: Description and Special Aspects

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

Suspicions Activity report (SAR)

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

Compliance Definition and Main Objectives

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

Anti-Bribery Compliance

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.

Double Taxation Conventions: Content, Recent Amendments & Application. Part II

AGENDA: The most common methods of Double Tax Treaty (‘DTT’) abuse, The current practical problems associated with the application of DTTs, The OECD’s Base Erosion and Profit Shifting (BEPS) Project: proposed amendments to DTTs, The OECD’s 01/07/18 Multilateral BEPS Convention: global changes to be made to DTTs, Potential Implications of the latest amendments to DTTs.

Double Taxation Conventions: Content, Recent Amendments & Application. Part I

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.

Corporate Internal Investigation: What You Need To Know

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

Know Your Client (KYC) of Politically Exposed Person (PEP) and Linked Persons (LIP)

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

Directors’ Duties and Liability Insurance

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

Classification of foreign companies. Onshore and offshore activities. The taxation and liquidation

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 Protection of Company Directors’ Rights

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

Initial Coin Offering

AGENDA: Definition of ICOs, Users - Investors, Cryptocurrencies vs Tokens, ICOs vs IPOs, Legal approach (U.S. – Singapore), Examples of regulation in Singapore

Intellectual Property Law: An introduction to Copyrights, Patents & Trademarks

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.

Cryptocurrencies: an introduction and regulatory framework

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

Automatic Exchange of Information: Theory and Practice

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

Opening & Maintaining a Corporate Bank Account in Cyprus, Singapore & Hong Kong

AGENDA: Criteria for choosing your bank, Corporate Bank Account Opening, What you need to know for each jurisdiction, Corporate Bank Account Maintenance & Bank Transfer Fees, Costs, Why Banks are closing Corporate Bank Accounts, Voluntary closing of a Corporate Bank Account

Contract Law: How to create a legally binding contract & deal with disputes

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

The Panama Papers: Implications for the offshore world

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?

International Trust Law & Foundations

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.

Distributed Ledger Technology (DLT) - Regulatory standpoint

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

Know Your Client (KYC) – Practical Aspects of Procedure Application. Due Diligence

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

Company Law: Decision making procedures & Annual General Meeting

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?

Company Law: The role of Directors, Secretaries & Shareholders within an organisations

AGENDA: Shareholders: appointment & requirements, Officers’ duties, roles & responsibilities within a company, Company Directors their duty within the company, Distribution of profit, capital & duties within a company, Ultra vires: common law, modern legislation, Company Officers: Secretary & Registered Agent, Company Secretary: powers & potential liability.

Company Law Overview: An introduction to Company Law

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

Cyprus Quality of Life & Cost of Living Compared to the UK

AGENDA: Advantages & Disadvantages of UK life, Advantages & Disadvantages of Cyprus life, The Cyprus Island Divide: Reunification prospects & what it means in 2018, Cost of living comparison: basics, What constitutes quality family life?, Why do so many UK expats relocate to Cyprus?, Buying a holiday or second home in Cyprus? Main considerations, Considering retirement in Cyprus?

How family offices benefit high net worth individuals

Family offices are essentially private wealth management advisory firms that serve high-net-worth (HNW) investors. They are different from traditional wealth management advisories in that they offer a total outsourced solution to managing the financial and investment side of affluent individuals or families.

Immigration Permit

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).

Estimated Chargeable Income (ECI)

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.

Russia Set to Launch Total Web Control

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.

Foundations vs. Trusts

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.

The European Union Corporate Tax Reform Action Plan

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.

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