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  • IN607 Family Office Management: Location, Organisation and Liaison

    Recent Changes

    Recent changes in terms of global tax regulations and increasing international tax transparency are vital to consider when implementing strategies to preserve family wealth and family business ownership structures.

    New global regulations include: Common Reporting Standard (‘CRS’), the US Foreign Accounting Tax Compliance Act (‘FATCA’), and several jurisdictions now operate … more

  • IN606 A Comprehensive Tool Kit to Meet the Requirements of a Substance Based Regime

    History –  The ‘Substance Regime’

    On 1st January 2019 the ”substance-based regime” was introduced into the Crown Dependencies (Guernsey, Jersey and the Isle of Man). 

    This has meant that since January 2019, companies engaging in “relevant activities” have had to demonstrate that they meet specific substance requirements, to avoid sanctions.

    This ‘Order’ is in response to a comprehensive review, … more

  • IN603 (S) El Uso De Fundaciones Educacionales Nevis Para Proteger La Identidad De Los Miembros Jóvenes De Una Familia

    Bienes valiosos

    A menudo, nos preguntan cuáles son nuestros bienes más importantes. Esto suele conducir a un sinnúmero de respuestas, la más común es “nuestros jóvenes”.

    Con frecuencia, muchas familias gastan fortunas en la protección, la educación y la crianza de sus hijos para que se abran su propio camino al mundo. Sin embargo, existen muchos países en los cuales la protección del nombre … more

  • IN603 The Use Of Nevis Educational Foundations To Protect Junior Members Of A Family

    Valuable Assets

    We are often asked, what are our most important assets?  This can lead to a myriad of responses, with the most common being, “our children”. 

    Families often spend fortunes, protecting, educating and nurturing their children, to allow them to make their own way in the world.  Alarmingly, there are a number of countries, where the protection of a family’s name and the identity of … more

  • IN602 The Cyprus Non-Domicile Regime - An Attractive Tax Regime For Individuals Relocating To Cyprus

    Why Cyprus?

    Cyprus has become an attractive option for companies and individuals. Advantageous tax incentives exist and Cyprus is popular as both a corporate and residential location, offering a sound infrastructure, and also enviable weather. 

    Benefits Enjoyed by Tax Residents of Cyprus who are not Domiciled in Cyprus

    As a result of pre-existing tax legislation and the exemption from Cyprus’ … more

  • IN604 UK Tax Considerations For Short Term Business Visitors To The UK And For Non-UK Resident Directors Of UK Companies

    Background

    When individuals not resident in the UK are short term business visitors to the UK and/or are directors of UK companies, the individual’s UK tax position needs to be considered carefully. UK tax may be due, but there are a number of options that might reduce or negate the UK tax payable.

    Short Term Business Visitors

    Short-term business visitors are individuals who are not resident … more

  • IN605 Moving To Guernsey: The Benefits And Tax Efficiencies

    Background 

    The island of Guernsey is the second largest of the Channel Islands, which are situated in the English Channel close to the French coast of Normandy. The Bailiwick of Guernsey comprises three separate jurisdictions: Guernsey, Alderney and Sark. Guernsey is the largest and most populated island in the Bailiwick. Guernsey combines many of the reassuring elements of UK culture with the … more

  • IN601 The EU Settlement Scheme (EUSS) - What UK Businesses and Employers Need to Know

    On 30 March 2019, the EUSS was fully implemented under UK immigration rules, as a post-Brexit system. This allows EEA and Swiss citizens, and their family members, to continue to live and work in the UK – EEA is short for the European Economic Area comprising the EU, Iceland, Liechtenstein, and Norway.

    Successful EUSS applicants will have their immigration status in the UK protected, regardless … more

  • IN597 Maltese Foundations And Potential Benefits When Re-Domiciling A Foreign Foundation To Malta

    Malta private foundations have been used for asset protection and succession planning for several years. Amendments, at the end of 2018 to the ‘Voluntary Organisations Act’ enable foreign organisations, including private foundations, to be redomiciled to Malta.

    Malta Foundations

    Malta foundations are governed by the ‘Civil Act’ and the ‘Voluntary Organisations Act’ and are constituted as a … more

  • IN596 Features Which Make Isle Of Man Foundations Attractive Asset Protection Vehicles

    FEATURES WHICH MAKE ISLE OF MAN FOUNDATIONS ATTRACTIVE ASSET PROTECTION VEHICLES

    Background

    Common law countries have traditionally used trusts while civil law countries have historically used foundations. Many individuals in civil law countries remain more comfortable with the concept of a foundation as it is a vehicle that they are familiar with and it is often viewed as being more … more

  • IN599 Taxation Of UK Commercial Real Estate And Foreign Ownership

    Property in the UK can be owned by a company or by an individual and the method of ownership and the status of the company or individual involved will affect the tax treatment.

    Tax on Rental Profit

    Where an investment is made in UK commercial property in the name of a non-UK resident company and the company does not carry on a trade in the UK, basic rate income tax (currently 20%), is … more

  • IN598 Forthcoming Changes In Tax Status For Non-UK Resident Companies With Income From UK Property

    Changes Being Introduced in April 2020

    From April 2020, non-UK tax resident companies with income from UK property will no longer be charged UK income tax and will instead be subject to the UK’s corporation tax regime.

    When the changes come into force, these companies will need to calculate their profits in accordance with corporation tax principles, which may represent a significant change … more

  • IN591 Tax Reform Package For Swiss Companies Is Approved

    Historically, Swiss companies have enjoyed a zero tax regime for capital gains and dividend income.

    Trading companies, however,  have always attracted a local canton (region) tax rate. The new tax changes focus on trading profits. 

    New Corporate Tax Rate - Geneva

    As from January 2020, the corporate tax rate (combined federal and cantonal tax) for all companies in Geneva, will be 13.99%.

    The … more

  • IN595 (S) San Cristóbal y Nieves Como Centro Financiero

    San Cristóbal y Nieves es un centro financiero moderno y con visión de futuro situado en el este del Caribe. Tiene una historia singular de independencia legislativa y fiscal y está a la vanguardia de proporcionar soluciones prácticas a una base de clientes internacionales cada vez más móvil.

    San Cristóbal y Nieves ha desarrollado un número de opciones atractivas en los últimos años para hacer … more

  • IN592 Obtaining A Portuguese Golden Visa By Investing In A Portuguese Venture Capital Fund

    Why a Portuguese Golden Visa?

    The Portuguese Golden Visa scheme enables non-EU individuals to obtain the right to reside in Portugal for up to five years. This allows them and their family to travel freely to and from the majority of European countries.

    A Portuguese Golden Visa can lead to permanent residence and/or Portuguese citizenship and the right to a EU passport at the end of the fifth … more

  • IN600 The Advantages Of Using A Swiss Company To Hold Investments Owned By Turkish Residents Or Companies

                                                                                                         

    Introduction

    Turkish shareholders with foreign portfolio investments, should consider owning these investments through a Swiss company, in particular if these investments are held in Switzerland.

    What are the Key Advantages?

    a) Profit, taxed in Switzerland, will be at a rate of between 10.1% … more

  • IN595 The Future of Nevis As An International Financial Centre

    Nevis is a modern, forward-thinking financial centre located within the Eastern Caribbean.  It has a unique history of legislative and fiscal independence and is at the forefront in providing  practical solutions to an increasingly mobile and international client base.

    Nevis has developed a number of attractive options, over the years, to meet corporate and individual needs, allowing clients to … more

  • IN594 UK Stamp Duty Payment Due Within 14 Days Of Completion

    When buying a property in the UK over a certain price, stamp duty is payable.

    Since 1st March 2019 UK Stamp Duty (SDLT) must be paid to HMRC within 14 days of completion, or the purchaser may be subject to a penalty.

    There is a fixed penalty of £100 for returns filed up to three months late, increasing to £200 for returns which are filed more than three months late.

    What is UK Stamp Duty? … more

  • IN593 Malta FinTech Version 2021 And Developments In The Approach Towards Artificial Intelligence

    Background

    Malta has established itself as an innovative island.

    Practical, workable regulations have been successfully introduced for gaming and blockchain/crypto businesses and Malta is now preparing for the next generation of development within the financial service sector. New initiatives include Malta ‘FinTech Vision 2021’ and the ‘Artificial Intelligence Project’.

    FinTech Vision 2021 … more

  • IN589 The Definition Of And Approach To The Taxation Of Crypto-Currencies In Malta

    Background

    Malta is one of the countries most advanced in terms of legislation regarding crypto-currencies and has developed a pragmatic approach in relation to the taxation of this asset type.

    The Malta Commissioner for Revenue has issued three guidelines regarding the tax treatment of distributed ledger technology (‘DLT’) assets. Each of the guidelines relates to a different tax: income tax, … more