IN518 - Why the Madeira International Shipping Register (MAR) is so Attractive and the Advantages of Registering a Vessel in Madeira
The objective of the Madeira International Shipping Register (MAR) is to offer a credible alternative to other international registers. The high quality and safety standards of a conventional register have been maintained within an attractive tax environment designed to encourage inward investment to the island of Madeira. Vessels registered with MAR carry the Portuguese flag and are … more
Please note that as a general principle EEA citizens are free to move to other EEA countries. Switzerland is in the Schengen Area and as such EEA citizens can move there and vice versa. The residence schemes detailed (excluding St Kitts & Nevis) are therefore applicable to non-EEA individuals for each of the countries featured.
Please note, however, that where freedom of movement is not the … more
Individuals and families are becoming increasingly mobile and the ability to hold a second passport is becoming more relevant. The Caribbean is an attractive destination for a number of reasons, including the relaxing lifestyle, beautiful scenery and the climate. There are also opportunities to hold a second passport, even if the immediate intention is not to relocate to the Caribbean.
Why do … more
IN549(R) - КЛЮЧЕВЫЕ ПЕРСОНАЛЬНЫЕ ПОДОХОДНЫЕ НАЛОГИ И ПОТЕНЦИАЛЬНЫЕ ПРЕИМУЩЕСТВА ДЛЯ НЕ ДОМИЦИЛИРОВАННЫХ РЕЗИДЕНТОВ СОЕДИНЕННОГО КОРОЛЕВСТВА
Ряд стран предлагают режимы «налогообложения на основе перечисления, чтобы заинтересовать богатых людей в переезде из других стран, таких как Россия. Эти люди известны как «не домицилированные резиденты». Проще говоря, не домицилированный резидент - это человек, который не живет в своей стране «гражданской принадлежности».
Режим перечисления в Соединённом Королевстве является особенно привлек … more
A number of countries offer ‘remittance basis of taxation’ regimes to attract wealthy individuals to re-locate from other countries, such as Russia. These individuals are known as ‘non-doms’. Very simply expressed a non-dom is an individual not living in his/her country of ‘origin’.
The UK remittance regime is a particularly attractive example and although the rules have changed … more
Over the past decade, Malta has consolidated its status as an international, Mediterranean centre of maritime excellence. Currently Malta has the largest shipping register in Europe and the sixth largest in the world. In addition, Malta has become a world leader in terms of commercial yacht registration.
In order to avoid the risk of shipping companies relocating or flagging to low-tax countries … more
The Maltese Government introduced modifications to the remittance basis of taxation on 1 January 2018.
Malta offers an extremely attractive remittance basis, whereby a resident non-domiciled individual is only taxed on foreign income if this income is received in Malta or is earned or arises in Malta.
A Tax Change for Resident Non-Domiciled Individuals
Changes, introduced at the … more
IN536 - Advantages of Cyprus Foreign Interest Companies - Including the Right for Employees to Reside in Cyprus
Background and the Cyprus Permanent Residence Scheme
Cyprus offers a Permanent Residence Scheme whereby individuals are granted permanent residence by acquiring property in Cyprus with a minimum value of €300,000. The Dixcart office in Cyprus can provide comprehensive details regarding the Cyprus Residence Scheme.
This programme is proving popular but is not always appropriate as individuals … more
IN538 - Imminent Introduction of the Portuguese Tonnage Tax Scheme for Ships - What benefits will it offer?
The Portuguese tonnage tax and seafarer scheme was approved by the European Commission on 6 April 2018, in line with EU State aid rules, in particular the Guidelines on State aid to maritime transport. The Portuguese measures will enhance the competitiveness of the Portuguese shipping sector and, simultaneously, protect know-how and jobs in the EU maritime transport sector.
The law proposal had … more
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
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
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
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
The Portuguese Government launched the “Start Up Visa for Entrepreneurs” at the Web Summit it was hosting in November 2017. This summit was one of the major international, technological gathering events of the year.
The Start Up Visa is specifically designed to attract foreign investment to Portugal.
The Start Up Visa comprises a residence visa for entrepreneurs, who: … more
IN489(P) - A New Residence Scheme in Malta and Favourable Changes to the Existing Residence and Visa Programme (Portuguese version)
NOVA VIA DE OBTENÇÃO DE RESIDÊNCIA EM MALTA E MUDANÇAS FAVORÁVEIS AO ACTUAL PROGRAMA DE RESIDÊNCIA E VISTOS
O novo programa, denominado "Iniciativa para Empregados Essenciais"/”Key Employees Initiative” em Malta permite a emissão de autorizações de trabalho e residência a futuros funcionários (desde que não residentes na UE) no prazo de cinco dias úteis a contar da data do pedido.
As … more
PORTUGAL - NOVAS ROTAS DE INVESTIMENTO PARA O “GOLDEN VISA”
15.000 pessoas de patrimônio elevado e suas famílias estabeleceram a sua residência em Portugal desde 2009.
Portugal está na moda, com belas paisagens e cidades como Lisboa, Porto e Funchal para explorar. As famílias que se mudaram para Portugal são atraídas pelo programa de imposto sobre pessoas singulars, o Programa de … more
IN489(S) - A New Residency Scheme in Malta and Favourable Changes to the Existing Residence and Visa Programme (Spanish version)
UN NUEVO ESQUEMA DE RESIDENCIA EN MALTA Y CAMBIOS FAVORABLES AL ACTUAL PROGRAMA DE RESIDENCIA Y VISAS
El nuevo programa 'Key Employee Initiative' en Malta permite la emisión de permisos de trabajo / residencia a potenciales empleados clave (que no sean ciudadanos de la UE) dentro de los cinco días utiles posteriores a la fecha de solicitud.
Los cambios al "Programa de Residencia y … more
LA ISLA DE MAN: BENEFICIOS PARA SOCIEDADES Y INDIVIDUOS
La Isla de Man ofrece una infraestructura comercial muy atractiva, proporcionando un entorno estable, seguro y accesible para individuos y familias.
La isla es hogar para una serie de industrias diversas, que incluyen; aeroespacial, banca, servicios financieros, fabricación, registro de buques y aeronaves, industria espacial y … more
The Isle of Man Aircraft Registry was established by the Isle of Man Government in 2007, primarily to bring additional economic prosperity to the Isle of Man’s private sector. From a very small beginning, the team now comprises around 20 aviation specialists with the business ethos of ‘Safety and Service’.
Currently led by the Director of Civil Aviation, Simon Williams, the registry continues to … more
Cyprus is an attractive option for individuals seeking to move their country of residence. It offers a warm climate, good infrastructure, and convenient geographic location. It also offers attractive tax advantages for companies and incentives for individuals through the Cyprus non-domicile regime, as well as benefits for highly paid employees moving to Cyprus.
Cyprus is accessible from Europe, … more
The UK non-domicile regime remains a relatively attractive option with UK non-domiciles (“non-doms”) continuing to have the opportunity to enjoy significant tax advantages for a period of up to 15 years.
Major reforms regarding how UK non-domiciles are taxed were introduced in April 2017. As detailed in the Dixcart Article: UK Tax Residence - Planning Opportunities, Case Studies and How to Get … more
現行護照的認證複印件，註明姓名、照片、 … more
IN-Nevis Ec Cit Requirements (R) - Экономическая программа предоставления гражданства Сент-Китса и Невиса
Общие черты процесса
Главный заявитель должен заполнить четыре правительственных формуляра. (C1, C2, C3 и C4).
Заявители-иждивенцы должны заполнить только три формуляра (C1, C2 и C3).
Заполняется всеми заявителями и содержит личные данные каждого заявителя. (Вопрос C57 в формуляре касается дополнительной информации или сопровождающих документах, которые должны прилагаться к заявлен … more
On 8 September 2017, the second Finance Bill of 2017 was published. This confirmed that the previously announced policies, including amendments to the taxation of non-doms due to start on 6 April 2017, would be effective from that date.
In addition, further draft legislation, which will form part of a third Finance Bill, was published on 13 September 2017. This introduces new rules in relation … more
Advisers often need to guide clients on the most suitable jurisdiction to flag an owner’s vessel. Historically, advisers have preferred tried and tested jurisdictions, but this is starting to change, due to the increasing importance of jurisdiction perception, international transparency, time differences, different legal systems and growing costs associated with certain jurisdictions.
Criteria … more
IN489 - A New Residence Scheme in Malta and Favourable Changes to the Existing Residence and Visa Programme
The new ‘Key Employee Initiative’ programme in Malta allows for work/residence permits to be issued to prospective key (non-EU) employees within five working days from the date of the application.
Changes to the Malta ‘Residence and Visa Programme’ now allow the applicant and main dependents to apply for long-term residence in Malta after five years of residence.
In addition, parents … more
15,000 high net worth individuals and their families have moved to Portugal since 2009.
Portugal appears to be the place to be, with beautiful scenery and cities like Lisbon, Porto and Funchal to explore. Families who have moved to Portugal are attracted by the personal tax programme: the Non-Habitual Resident Programme. Non-EU individuals also have the option to move to Portugal by applying for … more
In July 2017, the Cyprus Parliament voted for an amendment to the current criteria used to determine Cyprus tax residency. In addition to the 183 day rule, a second test is being introduced in relation to an individual’s tax position in Cyprus.
The current “183 day rule” applies to individuals who have physically resided in Cyprus for more than 183 days during one calendar year.
In addition to … 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
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
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
IN465 - 2-REG Channel Islands Commercial Aircraft Registry: Case History Highlighting the Advantages of Temporary Registration
Established in December 2013, “2-REG”, the Channel Islands Aircraft Registry, is the aircraft registry of the States of Guernsey. The nationality mark is ‘2’ followed by four letters, allowing for attractive registration marks.
There have been 94 registrations to date of lessor owned aircraft, corporate aircraft, including a Boeing 787-8 Dreamliner, and locally owned aircraft. The registry is … more
Cyprus Citizenship by Investment is rapidly becoming one of the EU’s most popular residence schemes.
A fast track procedure exists for non Cypriot citizens (and their families) to acquire Cyprus Citizenship by investing €2.5 million* in Cyprus.
*In one specific set of circumstances as detailed below in the financial criteria, the investment required is €2.0 million.
A non-Cypriot citizen … more
Individuals wishing to establish a company in the UK may, for a variety of reasons, consider the use of a Business Centre offering serviced office capacity, which will provide substance. Business Centres can offer a productive work environment and a cost effective option for organisations with international interests wishing to operate from a particular location.
A company establishing itself in … more
A lot of uncertainty has been generated within Europe following on from the Brexit vote, and certain other countries who are beginning to reassess their position within the EU. This is having an impact on the marine industry, with a number of vessel owners seeking to reflag ships and yachts.
The choice of flag registration is an important decision and a jurisdiction must be selected that … more
The UK non-domiciles regime remains a relatively attractive option with UK non-domiciliaries (“non-doms”) continuing to have the opportunity to enjoy significant tax advantages for a period of up to 15 years.
Changes to UK Non-Dom Legislation
Major reforms regarding how non-UK domiciliaries are taxed were however introduced in April 2017.
As detailed in the Dixcart note: UK Tax Residence - … more
IN436 - Restarting the Clock for Non-UK Domiciles: Why Cyprus, Malta and Portugal are Attractive Jurisdictions to Consider for Relocation
The UK offers an attractive tax regime for up to 15 years for individuals who are resident in the UK but do not have a UK domicile.
Individuals who are UK resident, but not UK domiciled, do not have to pay UK tax on their foreign income and gains, as long as these sums remain outside of the UK.
Individuals may choose to structure their tax affairs so that they cease to be UK tax resident for a … more
IN391 - Portuguese Golden Visa and the Non-Habitual Residents Tax Scheme - Making Portugal an Attractive Location for Residence
Since the introduction of Portugal’s “Golden Visa” and a special tax regime for non-habitual residents, Portugal has become a destination of choice for many non-EU nationals.
The Golden Visa enables non-EU residents to not only be resident in Portugal, but to also move freely within the Schengen Zone. The “Non-Habitual Residents Regime” means that they can also enjoy low taxes or, in some cases, … more
The beautiful Isle of Man is situated in the heart of the Irish Sea, centrally located between England, Ireland, Scotland and Wales. Whilst the island may be small, just 572 km2, with its rugged coastline and rolling hills it can give you and your family space to breath, relax and enjoy what island life has to offer.
The Isle of Man has been a self-governing Crown Dependency since 1866, and … more
IN419 - Restarting the Clock for UK Non-Domiciles and Alternative Residence Options to Help Maximise Days Spent in the UK
The UK non-dom regime remains an attractive option for individuals seeking to move from their country of origin or current location. UK non-domiciles continue to have the opportunity to enjoy significant tax advantages for a period of up to 15 years.
Changes to UK Non-Dom Legislation
However, major reforms regarding how non-UK domiciliaries (“non-doms”) are taxed were implemented in April 2017 … more
Dixcart provides aircraft registration services in a number of jurisdictions. These jurisdictions have registries which offer a variety of advantages and tax efficiencies.
Dixcart can advise on aircraft registration and help coordinate the aircraft registration process in: Guernsey, the Isle of Man, Malta and Portugal. This can include establishing and administering the relevant ownership … more
IN275 - A Consideration of Shipping in the Jurisdictions of Cyprus, the Isle of Man, Madeira (Portugal) and Malta
Dixcart can provide clients with a number of alternative ship registration solutions.
This note provides a brief overview of the shipping regimes in Cyprus, the Isle of Man, Madeira (Portugal) and Malta. More detailed information is available on request regarding shipping in each of the jurisdictions considered in this Article.
Cyprus is a major ship management centre attracting … more
Individuals granted a Tier 1 (Entrepreneur) visa or Tier 1 (Investor) visa under the rules that existed before/on 28 March 2019 are generally unaffected by the new rules which have been effective from 29 March 2019. For more information regarding the recent changes to UK immigration rules, please refer to Dixcart Article: IN580 Reforms to UK Investor Visa Category and New Entrepreneur Visa Routes … more