• IN464 - The Cyprus Investment Programme and the Benefits

    The Cyprus Investment Programme is rapidly becoming one of the EU’s most popular residence schemes.

    Non Cypriot citizens (and their families) can 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 who meets one of the financial … more

  • INSKN1 (Russian) -Nevis Ec Cit Requirements - 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).

    Формуляр C1

    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

  • IN508 - A Simple Guide to UK Inheritance Tax and Tax Efficient Gifting

    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

  • IN506 - UK Holding Companies and Brexit - What are the Implications?

    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.

    Participation Exemption

    Virtually all dividends received by a UK company, be they from the … more

  • TECH-IN505 - Actions to Consider for UK Non-Domiciles in Relation to Trusts

    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

  • IN503 - The Flexibility of a Nevis Multiform Foundation

    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

  • IN498 - UK Remittance Basis - It Needs to be Formally Claimed

    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

  • IN497 - Why Consider Cyprus as the Location for an Alternative Investment Fund?

    An Alternative Investment Fund (AIF) is a collective investment which raises external capital from a number of investors with a view to investing it for the benefit of those investors. It does not need to be licensed as an Undertaking for Collective Investment in Transferable Securities (UCITS).

    Alternative investments include hedge funds, managed futures, real estate, commodities and derivative … more

  • IN496 - What is a Guernsey Private Fund Structure and why are Family Offices Increasingly Using Them?

    Why Guernsey For Private Fund Structures?

    Guernsey is a leading domicile for funds, with more than 50 years of experience in the formation, administration and cross-border distribution of investment funds. It also offers a ‘lighter touch’ approach to Private Investment Structures (‘PS’), also known as Private Funds (‘PF’), which are ‘related party’ investment structures, particularly suitable … more

  • IN493 - The Isle of Man Shipping Registry - An Innovative Approach

    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

  • IN487 - Portugal - A Family and Business Friendly Jurisdiction

    Since 2009 over 5,000 high net worth individuals and their families have made Portugal their home, attracted by the lifestyle, the Non-Habitual Resident tax regime and the Golden Visa residency programme.

    In 2014 the Portuguese Government made Portugal more attractive to companies by reforming its Corporate Tax Code to meet international standards. Since then Portuguese companies have enjoyed an … more

  • IN486 - Portugal - New Golden Visa Investment Routes

    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

  • IN485 - New "60 Day" Tax Residency Rule for Individuals in Cyprus

    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

  • 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.

    Background

    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

  • IN483 - Access To Complementary Services From Nevis for Professional Firms In Other Jurisdictions

    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

  • IN482 - Benefits Offered By Nevis And The Use Of A Managed Trust Company

    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

  • IN475 - Moving Location - A Critical Time to Plan for Succession

    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

  • IN479 - Guernsey Register of Beneficial Ownership – A Unique Approach

    Background

    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

  • 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’s needs as … more

  • IN473 - The Organisation of a Fund in Malta - The Benefits

    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

  • IN471 - Malta - Attractive Residence Programmes and Tax Benefits for Expatriates

    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

  • IN467 - Another Reason to Choose Cyprus - The Cyprus Non-Domicile Regime

    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.

    Background

    The Cyprus House of Representatives approved new tax laws on 9 July 2015, which took effect on 1 … more

  • IN466 - Dixcart Business Centres: Serviced Offices Where and Why?

    Dixcart Business Centres offer extensive serviced office capacity and are ideal for companies establishing themselves in a new location. Dixcart Business Centres are located in Guernsey, the Isle of Man, Madeira (Portugal), Malta and the UK.

    Business Centres can offer a productive work environment and a cost effective option for organisations with international interests wishing to operate from … 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

  • IN463 - Isle of Man Financial Assistance Scheme - Enabling Entrepreneurs to Innovate on the Island

    The Isle of Man has long been known as a welcoming home to entrepreneurs and innovators. It has achieved this over the years by playing to its strengths, having strong communication with the private sector, supporting new ideas and new ways of thinking, changing legislation quickly, and because it has wanted to lead not follow. E-business, for example, has found a home in the Isle of Man, with … more

  • IN461 - The Advantages and Relevant Procedures to Migrate a Company or Foundation to Guernsey

    Why is Guernsey an Attractive Jurisdiction for Companies?

    There are a number of reasons why an individual may wish to migrate a company or foundation from its current jurisdiction of registration to the Bailiwick of Guernsey.

    Guernsey is a well-regulated and internationally respected international jurisdiction.  It is also a politically stable jurisdiction with its own autonomous government but … more

  • IN460 - What Financial Assistance is Available Through the Isle of Man Enterprise Development Scheme?

    Entrepreneur Government Funding

    The Isle of Man has long been known as the home of entrepreneurs and innovators. This has been achieved over the years by playing to its strengths; strong communication with the private sector, supporting new ideas and ways of thinking, changing legislation quickly, and because it has wanted to lead not follow.

    E-business has found a home in the Isle of Man with … more

  • IN459 - Setting Up a Company in the UK - Why Consider the Dixcart Business Centre

    There may be several reasons why individuals wishing to establish a company in the UK might consider the use of a Business Centre, providing not only serviced office capacity, but also 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 … more

  • IN457 - Thinking of Flagging or Reflagging a Vessel? - Malta Could be the Answer

    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

  • IN455 - Image Rights Registration and the Future Benefits This Can Offer

    Guernsey’s innovative legislation on Image Rights (IR) became law in November 2012 and it remains the only jurisdiction in the world to date where an individual, group or legal entity can register their Image Rights on a public register. 

    Registrations have been steady since that date, with currently 64 IR registrations for individuals and entities from a broad range of human activity, including … more

  • IN453 - The Use of a Swiss Trustee: How and Why?

    Trusts originated in England in the 12th century and developed across many Common Law jurisdictions. Trusts are now also used by many Civil Law jurisdictions.

    Dixcart in Switzerland and Trust Services

    The Dixcart office in Switzerland is a member of the Swiss Association of Trust Companies (SATC) and is registered with the Association Romande des Intermediaires Financiers in Switzerland (ARIF). … more

  • IN452 - The Benefits of a Swiss Investment Holding Company

    Why are Swiss Holding Companies so Popular?

    There are many reasons why Switzerland is a favoured location for international business. These include:

    Political, financial, social and economic stability.

    A favourable fiscal environment.

    Geneva and Zug are major centres for commodity trading.

    Excellent business support structures and a wide variety of professionals including: lawyers, bankers, … more

  • IN451 - Why are Swiss Intellectual Property Holding Companies so Popular?

    Switzerland is an attractive location for Intellectual Property (IP) companies. It combines a proactive business and tax approach with a stable political and economic environment.

    Holding and administering IP rights in one jurisdiction under one central IP company considerably simplifies the management of group IP rights and enables stronger control.

    Switzerland: A Formidable Intellectual … more