IN293 - UK Controlled Foreign Companies Rules - And Certain Exemptions That Can Reduce Or Remove The Obligation To Pay UK Tax
The UK updated its foreign company (“CFC”) rules on 1 January 2013. A number of exemptions apply that can reduce or remove the obligation to pay UK tax.
A CFC is a non-UK resident company controlled by persons in the UK. Typically a CFC is a foreign subsidiary of a UK group, although corporate control is not required for a company to be a CFC.
The rules, which are essentially anti- … more
St Kitts & Nevis offers well-regulated and effective solutions for businesses around the world. It is an international financial centre with innovative corporate and wealth management solutions available to clients.
A number of jurisdictions are experiencing increased pressure from the wider international commercial community and/or measures taken by their own Governments. Nevis may be able to … more
Nevis offers a number of wealth planning opportunities which can provide certainty, flexibility and privacy to families who are planning for the future.
Numerous tax benefits are available to international companies, limited partnerships and trusts located in Nevis. These include NO income tax, NO social security tax, NO capital gains tax, NO wealth tax, and NO death duty or inheritance tax. … more
IN481 - Why Consider Using A Nevis International Business Company For Wealth Planning And Holding International Investments?
Nevis is a leading international Caribbean financial centre, with a good reputation and excellent compliance standards, making it well suited to holding international investments for wealthy families.
It can be a challenge for non-European investors to find an efficient and cost effective manner in which to make international investments. The use of a Nevis International Business Corporation ( … more
IN480 - St Kitts & Nevis Citizenship by Investment - A Second Passport That Can Assist With Mobility Around the World
A Second Passport - The Caribbean Solution for Alternative Travel Documents
In today’s ever changing world, freedom and ease of travel are becoming ever more important. Residents of many countries suffer from a lack of mobility, which most western countries take for granted.
Increasingly, wealthy non-EU individuals are applying for residence, and in some instances, citizenship in European … more
Wealth – a Responsibility
The transfer of wealth to the next generation is a critical issue. The ability and understanding of the next generation as to how to deal with the organisation and management of the wealth being passed to them is also a vital consideration.
A family’s financial wellbeing can be lost or reduced in disputes over control and management of the wealth. Unfortunately the … more
Trustees have never had more reason to ensure that their internal systems and controls are fit for purpose.
The main drivers behind the need to assess these are:
Increasing global scrutiny of wealth management structures by tax authorities
Global transparency and exchange of information
The establishment of beneficial ownership registers
The pressure on and from regulators to … more
In February 2017, Guernsey’s Government approved the establishment of a register of beneficial ownership information.
In implementing this initiative, Guernsey, along with a large number of other jurisdictions, is maintaining its commitment to meet international standards on tax transparency and is adopting the recommendations of the Financial Action Task Force.
This new Register … more
Historically, Portugal’s ‘brightest and best’ have looked for opportunities outside of Portugal. This was not necessarily because they wanted to, but because Portugal was more focused on keeping its head above water and on finding ways to leave the Economic Adjustment Programme agreed with the European Commission for the period 2010-2014 (the bailout programme).
Whereas in the past … more
IN476 - Trust / Foundation Hybrid Structure – An Asset Protection Structure for Internationally Mobile Individuals
Asset protection and wealth preservation continues to be a primary focus for high net worth individuals.
However, the ever increasing international mobility of individuals and their families means that the traditional Common Law jurisdiction solution of a Trust, or Civil Law jurisdiction solution of a Foundation may not, in isolation, prove to be optimum solutions for an individual’ … more
IN431 - The Isle of Man Alternative Banking Regime - Opportunities for Corporate Organisations and Representative Offices
The Alternative Banking Regime (ABR) in the Isle of Man can provide a number of opportunities for organisations. Discussions with clients and professional colleagues regarding the new regime have identified a number of potential applications and benefits of the ABR.
The ABR was introduced on 1 August 2016 and expands the existing Class 1 (deposit taking) banking licence to … more
Nevis and the British Virgin Islands (BVI) are countries within the Caribbean that offer well-regulated and effective solutions for businesses around the world. They are international financial centres offering clients innovative corporate and wealth management solutions.
A number of similar corporate services are available in the two jurisdictions but, due to recent Government rule changes in … more
Dixcart is licensed to provide fund administration services in Malta and in the Isle of Man.
We provide a comprehensive range of services in Malta including accounting and shareholder reporting, corporate secretarial services, fund administration, shareholder services and valuations.
The Benefits of Establishing a Fund in Malta
A key benefit in terms of using the jurisdiction of Malta for the … more
During the past decade Malta has consolidated its status as an international centre of maritime excellence. Currently Malta has the largest shipping register in Europe and the sixth largest in the world.
Malta has also become a world leader in terms of commercial yacht registration.
Yacht Registration in Malta
Commercial and pleasure yachts can be provisionally registered under the Malta flag … more
Malta offers five residence programmes to meet different individual circumstances. Some are appropriate for non-EU individuals while others provide an incentive for EU residents to move to Malta.
The five residence programmes and the tax benefits they can provide for individuals, where relevant, are detailed below.
INDIVIDUAL INVESTOR PROGRAMME
The Individual Investor Programme (IIP) … more
Beneficial Characteristics for the Location of an International Holding Company
The location of a holding company is an important consideration in any international structure where one of the objectives is to minimise the tax charged on the income flow.
Ideally the holding company should be resident in a jurisdiction which:
Has a good double tax treaty network, thereby minimising … more
As many of you know, each year Dixcart hosts a seminar. This year the topic was risk mitigation for family offices and corporates and was held at the Institute of Chartered Accountants in England and Wales (ICAEW) in London.
Risk is an increasingly important factor to mitigate for any business and for this particular seminar Dixcart chose to highlight the areas of geographic risk, family risk, … more
The Worldwide Disclosure Facility (WDF) runs from 5 September 2016 to 30 September 2018. It is designed to enable taxpayers to disclose a UK tax liability which relates wholly or partly to an offshore issue.
All other offshore disclosure facilities have now closed and this is the final opportunity for UK taxpayers to come forward before the Common Reporting Standard (“CRS”) information exchange … more
Cyprus is an attractive option for the relocation of both companies and individuals.
This island offers a warm climate, good infrastructure, convenient geographic location, membership of the EU, tax advantages for companies and incentives for individuals through the Cyprus non-dom regime.
The Cyprus House of Representatives approved new tax laws on 9 July 2015, which took effect on 1 … more
SA3 - Dixcart Group: More than 45 Years of Providing Professional Assistance to Internationally Mobile South African Families
South African families are currently experiencing a number of challenges. Increasingly, South African families are looking at international wealth protection strategies, business relocation options, and residency and citizenship solutions in the UK, Europe and elsewhere. Safety, security and currency volatility are big drivers, but political, economic and educational issues play their part too. … more