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2017.11.24
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Short news and ideas

United Arab Emirates: 6 arguments in favour of Sharjah Media City
11/09/2017
The Sharjah Media City (SAMC) Free Zone, established in the Emirate of Sharjah in the Unites Arab Emirates, offers excellent opportunities for those interested in establishing webshops for international trading purposes or for the provision of international services.
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Cyprus: tax resident status in 2 months?
11/09/2017
On July 14th, 2017 the Cypriot Parliament decided on changes in the tax laws, and created the “60-day rule” for the clarification of an individual’s tax resident status. The law will be in force from January 1st, 2017, meaning that individuals resident in Cyprus for tax purposes will be able to take advantage of the benefits from the 2017 tax year.
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Our new partner, Virpay
11/09/2017
VirPay is an enterprise registered in Hungary which offers financial solutions, and is licenced to do so by the Hungarian National Bank.
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Banque Havilland, our new banking partner
01/06/2017
We have added a new bank to our selection. Banque Havilland in Liechtenstein offers an ideal solution for clients looking for a stable and reliable jurisdiction for their money.
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CRS: the danger to directors
01/06/2017
The rules of the Common Reporting Standards employed in regard to the automatic exchange of information are still not clear. Although the domestic tax authorities of individual countries are due to receive the first reports on October 1st, 2017, it is still far from clear exactly what will be reported and to whom. Practices continue to vary from bank to bank, and the first year will certainly not be sufficient to define precise methods. We could say that every beginning is difficult.
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Important changes to taxes and visas in the United Arab Emirates
08/03/2017
The tax system in the United Arab Emirates is unique in the world. In the Free Zones, which drive the economy, there is no corporation tax, while the country’s residents are not subject to personal income tax.
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Where does the signing of tax agreements currently stand?
01/07/2016
On January 1st, 2016 the first phase of the global automatic exchange of information on tax matters, whereby the countries which have signed up to the agreement will exchange information on tax issues from 2017 (or in some cases 2018), began.
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Will there be any point in having offshore Trusts in the future?
01/07/2016
International Trusts, established primarily for asset protection purposes, can not be considered as companies, since they do not have separate legal personality. In reality, the Trust is a private legal agreement between the Settlor and the Trustee, on the basis of which the Trustee takes possession and control of the assets for the benefit of the Beneficiaries.
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Piraeus Bank
01/07/2016
LAVECO Ltd. has a new banking partner in Cyprus, after they accepted our application, and LAVECO Ltd. was given Introducer status by the bank.
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Cyprus: Zero personal income tax???
02/12/2015
The tax changes introduced from July 16th, 2015 have revolutionised Cypriot tax laws. This is beneficial primarily to those coming under the “resident, but not domiciled” status and who draw income from capital accumulated earlier or still to be accumulated. The majority of foreigners who move to the island and become resident – and tax resident – fall into this category.
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