• IN566 Significant Tax Advantages Available To Individuals Moving To Guernsey

    Background 

    Guernsey is one of the Channel Islands and is situated in the English Channel, close to the French coast of Normandy. 

    Whilst retaining very close links to Britain, Guernsey is independent from the UK and has its own democratically elected parliament which controls the island's laws, budget and levels of taxation. 

    What Tax Advantages are Available to Individuals Moving to Guernsey? … more

  • IN518 - Why the Madeira International Shipping Register (MAR) is so Attractive and the Advantages of Registering a Vessel in Madeira

    Background

    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

  • IN561 Key Aspects - Economic Substance Requirements For Guernsey

    1 Introduction

    Like other offshore jurisdictions, Guernsey will be implementing new legislation introducing economic substance requirements for companies in Guernsey. This briefing note sets out key aspects of the Guernsey Government proposed legislation,  noting that further, more comprehensive guidance notes, will follow in due course.

    The proposed legislation is relevant to all companies … more

  • IN562 New Substance Requirements For Isle Of Man Companies - Effective 1 January 2019

    The Isle of Man Treasury has published a draft of the proposed Income Tax (Substance Requirements) Order 2018. This draft Order will, once final, and if approved by Tynwald (in December 2018), have effect in respect of accounting periods commencing on or after 1 January 2019.

    This means that from January 2019, companies engaging in “relevant activities” will have to demonstrate that they meet … more

  • IN565 Why Use The Azores (Portugal) For Yacht Importation?

    Background

    The Archipelago of the Azores is composed of nine volcanic islands and is situated in the North Atlantic, about 1,500 kilometres west of Lisbon. These islands are an autonomous region of Portugal.

    What Advantages are Offered by the Azores for Yacht Importation into the EU?

    The standard rate of Portuguese VAT is 23% but the Azores benefits from a reduced VAT rate of 18%.

    In … more

  • IN556 The Brazil And Switzerland Double Tax Treaty: Why Is It So Significant?

    Background

    The Brazilian and Swiss Governments signed a Double Tax Treaty (DTT) on 3 May 2018.

    Switzerland is one of the biggest investors in the Brazilian market and Brazil and Switzerland have already signed an Automatic Exchange of Information Agreement, which came into force on 1 January 2018.

    This new treaty, follows current OECD standards, including Base Erosion and Profit Shifting (BEPS) … more

  • IN558 Guernsey And The Isle Of Man - Implementation Of Substance Requirements

    Background

    The Crown Dependencies (Guernsey, Isle of Man and Jersey) have introduced economic substance requirements, for companies incorporated, or resident for tax purposes, in each of these jurisdictions, effective for accounting periods starting on or after 1st January 2019.

    This legislation has been designed to meet the high level of commitment made by the Crown Dependencies, in November 20 … more

  • IN552 Nevis - What Does This Jurisdiction Offer Companies And Individuals?

    Background

    Nevis is a leading international Caribbean financial centre with a good reputation and excellent standards.

    The jurisdiction of St Kitts & Nevis offers options in terms of international companies, private trustee companies and international trusts and foundations. It also offers an attractive passport scheme (recipients do not need to reside in St Kitts & Nevis), which is of … more

  • IN553 The Madeira (Portugal) Free Trade Zone - What Tax Benefits Does It Offer And Substance Requirements

    Background

    The Madeira archipelago is part of Portugal and is located in the Atlantic Ocean, 978 km southwest of Lisbon.

    During the past decade, Portugal has taken several steps to enhance its attractiveness to international business and high net worth individuals. Partially thanks to the Non-Habitual Residents tax programme implemented in 2009 and the Golden Visa residency programme introduced … more

  • IN554 Cyprus-South Africa Double Tax Agreement - Why Is It So Attractive?

    South Africa, currently, hits the headlines for the ‘wrong’ reasons but it remains a jurisdiction where investment, in the correct manner, can be attractive.

    The South African economy offers a diversity of sectors and industries. It has a modern and extensive transport infrastructure and  labour costs are priced competitively.

    These factors, together with the country's significant natural … 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

  • IN549 - Key Personal Taxes and Potential Advantages for UK Non-Doms

    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

  • IN546 - Maltese Shipping - The Tonnage Tax System and Advantages for Shipping Companies

    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

  • IN502 - The Remittance Basis of Taxation in Malta - A Minor Change

    The Maltese Government introduced modifications to the remittance basis of taxation on 1 January 2018.

    Background

    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

  • IN545 - Malta's Notional Interest Deduction Regime - Which Types of Company are Most Likely to Benefit?

    Malta introduced the Notional Interest Deduction Regime (NID) on 1 January 2018. On 8 August 2018, the Guidelines in relation to NID were updated, in particular the treatment of NID between related companies.

    What is NID?

    NID is an innovative way in which companies can, in the correct circumstances, reduce their tax liabilities. This option is of greatest interest to companies with large equity … more

  • IN544 - The Approach to Taxation in 'Offshore' Centres is Changing - For The Better

    The EU Code of Conduct Group (Business Taxation) (“the COCG”) have been working with the Crown Dependencies (Guernsey, Isle of Man and Jersey) to review ‘economic substance’. The EU Code Group concluded that the Isle of Man and Guernsey were compliant with most of the EU principles of good tax governance, including the general principles of “fair taxation”. However, one area that raised concern … more

  • IN543 - Guernsey - One of the World's Premier International Finance Centres

    The Island of Guernsey offers Private Clients confidence in relation to the preservation, protection and growth of their wealth.

    Guernsey is a well regulated jurisdiction situated in Europe, between the United Kingdom and France, with excellent travel links to both countries.  It is a tax neutral, politically stable jurisdiction with an excellent reputation and a network of multi-jurisdictional … more

  • IN541 - Key Features of the New Double Tax Agreements between the UK and Guernsey, and the UK and the Isle of Man

    At the start of July 2018 three new Double Tax Agreements (DTAs) were announced between the UK and the Crown Dependencies (Guernsey, Isle of Man, and Jersey). The three DTAs (from each of the islands) are identical, which was a key aim of the UK Government.   

    Each of the DTAs cover clauses relating to Base Erosion and Profit Shifting (’BEPS’) and they comply with new international tax standards, … more

  • IN540 The Taxation of UK Residential Property - What is the Current Situation?

    Background 

    The past few years have seen dramatic changes to the taxation of UK residential property for both UK and non-UK residents. Detailed below is a summary of the current position (as of June 2019).  

    It is important that existing structures (particularly those with foreign company ownership) are continually reviewed to ensure that the anticipated benefits of such structures remain … 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

  • 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

  • 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

  • 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

  • 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

  • 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 - Key Questions to Consider

    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.

    Are wills only applicable to wealthy … 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

  • 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

  • IN514 - Portugal - Introduction of a Specific Start Up Visa for Entrepreneurs from Outside Portugal

    Framework

    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.

    Advantages

    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

    Resumo

    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

  • IN486(P) - Portugal New Golden Visa Investment Routes (Portuguese version)

    PORTUGAL - NOVAS ROTAS DE INVESTIMENTO PARA O “GOLDEN VISA”

    Considerações

    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

    Considerações

    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

  • IN470(P) - Malta Holding Companies - Why are they so Attractive? (Portuguese version)

    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

  • IN316(P) - The Isle of Man the Benefits for Business and Family (Portuguese version)

    A ILHA DE MAN - VANTAGENS PARA INDÍVIDUOS E SOCIEDADES COMERCIAIS

    Considerações

    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

  • IN486(S) - Portugal New Golden Visa Investment Routes (Spanish version)

    PORTUGAL - NUEVAS RUTAS DE INVERSIÓN PARA LOS “GOLDEN VISA”

    Resumen

    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?

    Resumen

    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

  • IN470(S) - Malta Holding Companies - Why are they so Attractive? (Spanish version)

    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

  • IN316(S) - The Isle of Man - The Benefits for Business and Family (Spanish version)

    LA ISLA DE MAN: BENEFICIOS PARA SOCIEDADES Y INDIVIDUOS

    Resumen

    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

  • IN512 - The Isle of Man Aircraft Registry: 10 Years of Success

    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

  • 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

  • IN510 - Moving to Cyprus - The Benefits for Individuals and Key Advantages of Cyprus Companies

    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

  • IN509 - Alternative Jurisdictions to Consider for UK Non-Domiciles Wishing to Move Out of the UK

    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

  • INSKN1 (Chinese) - Nevis Economic Citizenship Requirements

     聖基茨和尼維斯聯邦投資入籍

    一般程序如下

    主要申請人必須填寫政府頒發的四份表格 (C1、C2、C3和C4)。

    家屬申請人只需填寫三份表格 (C1、C2和C3)。

    C1表格

    所有申請人必須填寫,記錄每個申請人的詳細個人資料。 (該表第C57項問題詳細說明了必須隨申請表格一起提交的補充資料或證明文件)。

    C2表格

    所有申請人必須填寫。主要是確定申請人的身份。

    表格應由公證員,律師或國際著名銀行的兩名高級職員用英文填寫。

    C3表格

    所有申請人必須提交,由法醫填寫。

    (包括兒童在內的所有申請人必須隨申請材料一起提交艾滋病毒檢測報告原件,檢測報告不得超過三個月)。

    C4 表格

    該表格有關託管賬戶,由主要申請人填寫。

    證明文件

    所有申請人都必須提供:

    艾滋病毒檢測證明,這將作為C3表格的一部分提供(僅適用於16歲以上者)。

    現行護照的認證複印件,註明姓名、照片、 … more