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
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
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
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 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
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
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
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
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
IN518 - Why the Madeira International Shipping Register (MAR) is so Attractive and the Advantages of Registering a Vessel in Madeira
The International Shipping Register of Madeira (MAR) was established in 1989 as part of the Madeira International Business Centre (“MIBC”) “package” of taxation benefits. Vessels registered with MAR carry the Portuguese flag and are subject to the International Treaties and Conventions entered into by Portugal.
Over half a million vessels are now registered with MAR and it is ranked the fourth … more
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
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
IN490(P) - Reasons Why Companies and Individuals are Relocating to the UK and a Case Study for the UK Entrepreneur Visa (Portuguese version)
RAZÕES POR QUE TANTO EMPRESAS COMO INDIVÍDUOS SE ESTABELECEM NO REINO UNIDO E UM “CASE STUDY” SOBRE O VISTO DE EMPRENDEDOR NO REINO UNIDO
O Reino Unido é um destino atraente para indivíduos não residentes na Uniao Europeia que considerem alterar a sua residência. Eles não são atraídos para o Reino Unido apenas pela sua cultura variada e pelo "modo de vida" britânico, mas também … 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
IN481(P) - Why Consider Using a Nevis International Business Company for Wealth Planning and Holding International Investments? (Portuguese version)
RAZÕES PARA CONSIDERAR O USO DE SOCIEDADES DE INVESTIMENTO INTERNACIONAL (“INTERNATIONAL BUSINESS COMPANIES”) DE NEVIS PARA FINS DE PLANEAMENTO PATRIMONIAL E REALIZAÇÃO DE INVESTIMENTOS INTERNACIONAIS
Nevis é um importante centro financeiro internacional situado nas Caraíbas, gozando de boa reputação e excelentes padrões de “compliance”, o que o torna adequado para a realização de … more
SOCIEDADES “HOLDING” DE MALTA - PORQUE SÃO TÃO ATRAENTES?
Vantagens para a localização de uma sociedade “holding” internacional
A localização de uma sociedade “holding” é uma consideração importante em qualquer estrutura internacional, onde um dos objetivos é optimizar o imposto cobrado sobre o fluxo de rendimentos.
Idealmente, a sociedade “holding” deve estar localizada numa jurisdição que: … more
Razões para a Utilização de “Private Trust Companies” e “Private Trust Foundations”
Um fideicomisso ou “trust” é instituido quando um indivíduo (o “settlor”) transfere a propriedade de certos ativos para outro indivíduo ou sociedade (o “trustee”) que controla e gere esses ativos e os usa em benefício de um indivíduo específico ou de um grupo de indivíduos (os beneficiários). … more
VANTAGENS DA UTILIZAÇÃO DE UMA SOCIEDADE “HOLDING” SUÍÇA
Por que são tão populares as sociedades “holding” suíças?
Há varias razões pelas quais a Suíça se tornou um local privilegiado para negócios internacionais. Entre essas incluem-se:
Estabilidade política, financeira, social e econômica.
Ambiente fiscal favorável.
Genebra e Zug são os principais centros de comércio de matérias primas. … more
Razões para Considerar a Utilização de uma Sociedade do Chipre
Chipre é uma jurisdição atraente a nível internacional com um excelente regime para sociedades “holding”. A Dixcart mantem um escritório em Limassol desde onde oferece serviços de incorporação e gestão de empresas em Chipre.
Foram registradas aproximadamente 13,000 novas empresas em 2017, elevando o numero de … more
A ILHA DE MAN - VANTAGENS PARA INDÍVIDUOS E SOCIEDADES COMERCIAIS
A Ilha de Man oferece um conjunto de infra-estruturas altamente atraentes para sociedades comerciais bem como um ambiente estável, seguro e acessível para indivíduos e famílias.
a ilha acolhe uma série de indústrias diversas dos sectores aeroespacial, bancário, de serviços financeiros, industriais, matricula de … more
IN490(S) - Reasons Why Companies and Individuals are Relocating to the UK and a Case Study for the UK Entrepreneur Visa (Spanish version)
RAZONES POR LAS CUALES EMPRESAS E INDIVIDUOS SE TRASLADAN AL REINO UNIDO Y UN CASE STUDY PARA LA VISA DE EMPRENDEDOR EN EL REINO UNIDO
El Reino Unido es un destino atractivo para la reubicación de individuos de fuera de la UE. No solo se sienten atraídos por el Reino Unido debido a su rica cultura y al "way of life" británico, sino también por las ventajas fiscales que están disponibles … more
PORTUGAL - NUEVAS RUTAS DE INVERSIÓN PARA LOS “GOLDEN VISA”
15,000 personas de alto patrimonio y sus familias se han mudado a Portugal desde 2009.
Portugal se puso de moda, con hermosos paisajes y ciudades como Lisboa, Porto y Funchal para explorar. Las familias que se han trasladado a Portugal se sienten atraídas por el programa de impuestos personales: el Programa de Residentes No … more
IN481(S) - Why Consider Using A Nevis International Business Company For Wealth Planning And Holding International Investments? (Spanish version)
¿POR QUÉ CONSIDERAR EL USO DE UNA “INTERNATIONAL BUSINESS COMPANY” DE NEVIS PARA LA PLANIFICACIÓN DE PATRIMONIO Y TENENCIA DE INVERSIONES INTERNACIONALES?
Nevis es un centro financiero internacional líder en el Caribe, con una buena reputación y excelentes estándares de “compliance”, por lo que es ideal para realizar inversiones internacionales por familias con patrimonios substanciales. … more
EMPRESAS “HOLDING” EN MALTA: ¿POR QUÉ SON TAN ATRACTIVAS?
Características ventajosas para la ubicación de una empresa “holding” internacional
La ubicación de una empresa “holding” es una consideración importante en cualquier estructura internacional, donde uno de los objetivos es minimizar el impuesto aplicado sobre el flujo de ingresos.
Lo ideal sería que la empresa “holding” sea residente en … more
LOS BENEFICIOS DE UNA EMPRESA “HOLDING” SUIZA
¿Por qué son tan populares las compañías “holding” suizas?
Hay muchas razones por las cuales Suiza es un lugar privilegiado para los negocios internacionales. Éstas incluyen:
Estabilidad política, financiera, social y económica.
Un entorno fiscal favorable.
Ginebra y Zug son los principales centros de comercialización de “commodities”. … more
¿POR QUÉ UTILIZAR “PRIVATE TRUST COMPANIES” Y “PRIVATE TRUST FOUNDATIONS”?
Un fideicomiso se establece cuando un individuo (el fideicomitente) transfiere la propiedad de ciertos activos a otro individuo o corporación (el fideicomisario) que controla y administra esos activos y los utiliza en beneficio de un individuo o grupo de individuos específicos (los beneficiarios).
Dilemas … more
RAZONES PARA USAR UNA COMPAÑÍA DE CHIPRE
Chipre es una jurisdicción internacional atractiva con un régimen muy favourable para empresas “holding”. Dixcart tiene una oficina en Limassol y, por lo tanto, puede organizar eficientemente la incorporación y gestión de empresas en Chipre.
Aproximadamente 13,000 nuevas compañías se han registrado en 2017 en Chipre, que totaliza en este momento … 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
IN513 - Worldwide Disclosure, UK Tax Liabilities and a Three Month Extension in Certain Circumstances
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 matter.
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 … more
IN511 - New Malta-Ukraine Double Taxation Agreement Now Ratified and Additional Attractive Malta DTAs
A new Double Taxation Agreement between Malta and the Ukraine was ratified in 2017 and was made effective as from 1 January 2018.
As a result of this DTA, tax advantages for both countries are available and the Maltese holding company regime may prove attractive to Ukrainian investors. This DTA allows for dividends to be taxed in the country of source, at a withholding tax rate of 5%, if the … 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.
Situated off the southern coast of … 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
Программа предоставления гражданства Кипра инвесторам быстро становится одной из самых популярных программ по получению права на проживание в Европейском Союзе.
Ускоренная программа позволяет частным лицам (и их семьям), не имеющим гражданства Кипра, приобрести гражданство Кипра при условии, что они инвестируют 2,5 миллиона евро в экономику Кипра.
*В одной особой ситуации, … more
The UK could be perceived to have one of the most punitive inheritance tax regimes in the world. Individuals pay a 40% rate on the value of their taxable estate above a tax free allowance of £325,000. In the case of a married couple this tax free allowance can be passed onto a surviving spouse, which means that, following their death, the estate will enjoy a £650,000 tax free allowance. … more
There have been a number of changes to the taxation of UK property in recent years. The majority of these changes have been focused on residential property and have not affected commercial property.
Ongoing reductions in UK corporate tax, now 19% and moving to 17% in 2020, continue to make UK commercial property an attractive investment option.
The choice of holding structure used to … more
Many have asked “What are the implications caused by Brexit for the UK’s status as a premier jurisdiction for holding companies?”
In this Article we examine a number of the features that make a good holding company jurisdiction and consider the UK holding company in this context both pre and post Brexit.
Virtually all dividends received by a UK company, be they from the … 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
What is a Foundation?
A Foundation is an incorporated legal structure that can be used to hold assets. As a concept, it is neither a Trust nor a company; however it has features of both. During medieval times, a Foundation was originally founded as an asset holding entity under Civil Law in continental Europe, whereas the Common Law vehicle has been, and still is, the Trust. Foundations were … more
The Maltese Budget speech of October 2017 proposed a number of changes, including modifications to the remittance basis of taxation in Malta.
Malta offers an extremely attractive remittance basis, whereby a non-domiciled individual is only taxed on foreign income if this income is received in Malta or is earned or arises in Malta.
Resident Non-Domiciled Individuals and Tax Changes … more
Malta introduced the Notional Interest Deduction Regime (NID) in October 2017. It comes into force at the start of the 2018 Maltese corporate tax year (1 January 2018).
What is NID?
NID is an innovative way for companies to reduce their tax liabilities. This option will be of greatest interest to companies with large equity balances.
NID allows companies to deduct a notional interest amount … more
IN500 - The Option of a Passport to Ease Travel whilst an Application for Alternative Citizenship is Underway
There are several attractive residence schemes whereby non-EU individuals can obtain citizenship and the right to a passport in an EU country.
Two of the most popular EU programmes are the Maltese Individual Investor Programme and the Portuguese Golden Visa Regime.
A St Kitts & Nevis passport could provide a travel and if required, residence solution, whilst plans are being made to live … more
Malta as a jurisdiction, with it generous and effective corporate tax system, is positioning itself as a leading Blockchain technology hub, with many state led initiatives currently underway.
Earlier this year the Maltese Government implemented a National Blockchain Strategy aimed at capitalising on the current opportunities for Malta to become a global Blockchain and Cryptocurrency front runner. … more
UK tax resident, non-domiciled, individuals who are taxed on the remittance basis, are not required to pay UK income tax and/or UK capital gains tax on foreign income and gains, as long as these are not remitted to the UK.
It is, however, crucial to ensure that this tax benefit is properly claimed. Failure to do so means that any planning undertaken by the individual might be ineffective and he/ … more