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  • IN535 - Consideration of the Jurisdiction of Nevis for the Control and Management of Companies outside the EU

    The Requirement for Substance

    In recent times a number of leading European countries have sought to limit the use of holding or associated companies outside the EU.  

    The main reason given has been the lack of real substance being demonstrated in the countries outside the EU.

    A Workable Solution to the Problem

    Advantages continue to exist through the use of holding companies outside the EU. … more

  • HN - Three Bills on ‘Distributed Ledger Technology’ (relating to Crypto Currency and Bitcoin) have been Approved by the Malta Parliament

    On 26 June 2018, the Maltese Parliament unanimously approved three Bills.

    The Virtual Financial Assets Bill -which provides regulation on virtual currencies and initial coin offerings (ICO)

    The Technology Arrangements and Services Bill - which is concerned with the registration and certification of technology service providers

    The Digital Innovation Authority Bill– which will establish the … more

  • IN534 - Dixcart Business Centres - An Efficient Way to Establish Companies Abroad

    Corporate entities are established and managed in a number of countries across the world for a variety of reasons. The location chosen for the incorporation and management of a company is a vital factor and integral aspect of the international, commercial planning process.

    Business Centres are becoming an increasingly popular feature within international trading centres. They provide an … more

  • IN533 - The Cyprus Start-Up Visa Scheme - An Attractive Scheme for Technological Entrepreneurs from Non-EU Countries

    Cyprus is already attracting global technology companies from all over the world, especially from EU countries, due to relatively low operational costs and its competitive EU-approved regimes for non-domiciled individuals. In addition, entrepreneurs from the EU do not require a resident visa to reside in Cyprus.

    In February 2017, the Cypriot Government established a new scheme designed to … more

  • IN531 - The Importance of a Will - International Clients Need To Consider Their Position Across Jurisdictions

    As families become increasingly international, with family members located in different countries, it is vital that appropriate wills are drafted and, subsequently, regularly reviewed and amended to reflect variations in circumstances. Often the jurisdictions where assets are located and/or where family members reside will be subject to change.

    Writing A Will

    There is no doubt that a will is an … more

  • IN530 - Portuguese Double Taxation Agreements, Particularly Attractive Agreements and the Madeira International Business Centre

    Companies licensed to operate within the legal framework of the Free Trade Zone of Madeira are Portuguese companies. The double taxation agreements (DTAs) concluded between Portugal and its treaty partners generally apply to Portuguese companies registered in Madeira. Not only is access to most of the agreements available, but also access to EU Directives, for instance the Parent-Subsidiary … more

  • IN529 - Representative of Overseas Business and the Advantages Available when Moving to the Isle of Man

    The Isle of Man, United Kingdom, Channel Islands and Republic of Ireland collectively form a ‘Common Travel Area’. In effect this means that travel between each jurisdiction is deemed to be an internal domestic journey and there are no separate immigration controls in place.

    This, of course, is not the case for foreign nationals journeying to members of the ‘Common Travel Area’ from overseas. It … more

  • IN528 - The Annual Dixcart Seminar April 2018: Gaining a Foothold in Europe Ahead of Brexit

    The Annual Dixcart London Seminar was held in the City of London, at the Institute of Chartered Accountants in England and Wales (ICAEW). Further details regarding Brexit are emerging virtually continuously and these impending changes, as well as others within the UK, have provided an incentive for certain individuals to explore moving elsewhere.

    The seminar started by attempting to evaluate the … more

  • IN527 - Malta Issues New Rules for Collective Investment Schemes Investing in Virtual Currencies

    In October 2017 the Government of Malta published a public consultation paper, proposing a new set of rules to regulate collective investment schemes using virtual currency. Further to industry responses, a feedback statement was issued in January 2018.

    The Malta Financial Services Authority (MFSA) has developed and published a ‘rulebook’ to regulate Professional Investor Funds (PIFs) which … more

  • IN526 - Isle of Man and e-Gaming: Supporting e-Gaming Companies to Relocate

    The Isle of Man has been attracting e-Gaming companies to set up their business on island for almost 20 years. This initiative was based on the need to develop and diversify the island’s economy and to build on the very successful finance sector. The Isle of Man Government and the private sector have spent time and energy to create a ‘fit for purpose’ regulatory framework for e-Gaming companies … more

  • IN525 - Important Changes to the St Kitts and Nevis Economic Citizenship Programme

    On 5 April 2018, the St Kitts & Nevis, Citizenship by Investment Unit (CIU) made an exciting announcement regarding permanent changes to the Economic Citizenship Programme. 

    Two new options have now been introduced, as detailed below:

    Option 1: The New Sustainable Growth Fund

    We are delighted to announce the introduction of the New Sustainable Growth Fund (SGF). 

    This fund has been … more

  • IN524 - Central Register of Beneficial Ownership Shared Across EU Member States

    The 5th EU Anti-Money Laundering Directive

    In December 2017, the 5th Anti-Money Laundering Directive, a revision of the 4th Directive, was launched after the Panama Papers leaked the extent to which anonymously owned companies were facilitating money laundering and tax evasion. The aim of the 5th Directive is to further improve transparency in relation to beneficial ownership.

    Requirements of … more

  • IN523 - What is the UK Remittance Basis of Taxation and How Can It Be Of Benefit?

    The UK continues to offer significant tax advantages for individuals who are resident but not domiciled in the UK. This is due to the availability of the remittance basis of taxation. The availability of the remittance basis for longer term residents was restricted from April 2017 and additional details are available on request.

    Non-UK domiciliaries who are resident in the UK (whether on a short- … more

  • IN522 - The Importance of Having a Will - An Interview with Paul Flude, Dixcart Family Office Adviser

    As families become increasingly international, with family members located in different countries, it is vital that appropriate wills are drafted and, subsequently, regularly reviewed and amended to reflect any variation in circumstances. Often the jurisdictions where assets are located and/or where family members reside will be subject to change.

    Paul Flude, Dixcart Family Office Adviser, has … more

  • IN521 - The Importance of Having Non-Executive Directors (NED)

    What is a ‘NED’?

    Non-Executive Directors (NEDs) can play an important role within a business. They sit on the board of a company but are not part of the executive team and can therefore bring an impartial view without the conflict of having to manage the day to day operations of the company.

    NEDs can monitor the executive directors, become involved in strategic policy making and, of course, act … more

  • IN520 - Malta Tax Regime: Approved by the OECD and Compliant with EU Non-Discrimination Principles

    The Malta tax system is an efficient fiscal regime which, in particular when used in combination with Malta’s network of double tax treaties, offers a number of benefits to companies that are domiciled in Malta. Historically, however, this tax regime has suffered criticism and the labelling of Malta as a potential tax ‘haven’, resulted in an investigation by the European Investigative … more

  • IN519 - The Madeira Free Trade Zone – The Beginning of Portugal’s International Business Identity

    The Madeira archipelago is part of Portugal and is located in the Atlantic Ocean, 978km southwest of Lisbon. The island of Madeira was discovered in 1419 by the Portuguese navigator João Gonçalves Zarco; the first Portuguese Discovery during Europe’s Age of Discoveries and Exploration, and the start of a period in history where Portugal became one of the key players in global trade and commerce. … more

  • IN517 - Portuguese Holding Companies and the Benefits of Registering a Company in Madeira

    A number of significant benefits are available through using a Portuguese holding company. Portugal offers an internationally competitive tax framework that is both transparent and compliant.

    As an alternative to being registered on the mainland, Portuguese companies can, in the correct circumstances, be registered on the island of Madeira. The Madeira International Business Centre (MIBC) offers … more

  • IN516 - Obtaining a Portuguese Golden Visa by Investing in a Portuguese Venture Capital Fund

    The Golden Visa includes an investment route option. Individuals can use this route to gain a Golden Visa, by investing in a Portuguese Venture Capital Fund.

    The specific criteria details are:

    Investment of a minimum €500,000 to purchase shares in investment funds or venture capital companies that are being used to support small and/or medium sized companies in Portugal that have generated … more

  • IN515 - The Portuguese Golden Visa and the Application Procedures

    Portugal is an increasingly attractive jurisdiction for relocation, due to the lifestyle, cosmopolitan cities, good weather, local hospitality, excellent food and great ambience. With the introduction of Portugal’s Golden Visa scheme and a special tax regime for Non-Habitual Residents, Portugal has become a popular choice for many EU and non-EU nationals.

    The Portuguese Golden Visa provides the … more