New Delhi: Foreign Direct Investment inflows from Mauritius have almost halved during April-February period of last fiscal to USD 4.48 billion, according to the data of the Department of Industrial Policy and Promotion (DIPP). India had received USD 8.97 billion during April-February 2012-13. According to an expert, investors are apprehensive… – Continue reading
Kuala Lumpur, Malaysia — (SBWIRE) — 05/08/2014 — ICO Services, the international company specialized in the formation of offshore companies and offshore banking, has recently expanded their services to the American business world by launching their service of setting up a company in Belize, the only fiscal paradise in Central… – Continue reading
Deloitte experts have commented on the changes that will occur as a result of the Expo 2020 Dubai win, as well as the challenges facing senior management in the GCC countries and wider MENA region as the countdown to FATCA becomes more imminent. Deloitte experts believe that Expo 2020 will… – Continue reading
Foreign institutional investors face new extraterritorial oversight July 1 this year marks the dawn of the FATCA new world order. Giving the U.S. Internal Revenue Service unprecedented extraterritorial powers to gather information on foreign financial institutions and their underlying account holders, the Foreign Account Tax Compliance Act represents the U.S…. – Continue reading
Mauritian conglomerate Ireland Blyth IBLP.MZ says uncertainty over new tax rules by key trading partner India has affected its business by putting off investors using the Mauritius financial center to invest in India. Nicolas Maigrot, chief executive of the group which has a wide range of interests in financial services,… – Continue reading
In this sponsored Q&A, Gibraltar Finance’s Philip Canessa shares his views on the benefits of Gibraltar as a European Union jurisdiction, as well as the attractions of the territory’s fund regime, tax incentives and regulatory framework for the funds industry. Hedge Funds Review: How will Gibraltar-based funds benefit from all… – Continue reading
The Cayman Islands is one of the world’s leading offshore jurisdictions for the establishment of investment funds. As at 30 September 2011, there were 9,444 funds (predominantly hedge funds) registered with the Cayman Islands Monetary Authority (CIMA) under the Mutual Funds Law. There are also significant numbers of private equity… – Continue reading
The Cayman Islands continue to be the pre-eminent offshore jurisdiction for hedge funds. Around 85 per cent of the world’s hedge funds are domiciled in the Cayman Islands, enabling the jurisdiction to outrank competing offshore centres (the British Virgin Islands, Bermuda and Jersey among them) as the top spot for… – Continue reading
India had received in $8.17 bn during April- January 2012-13 Foreign Direct Investment inflows from Mauritius have almost halved during April-January period of last fiscal to $4.11 billion on fears of impact of GAAR and possible re-negotiation of the tax avoidance treaty. India had received in $8.17 billion during April-… – Continue reading
India is set to scrap the R15-crore threshold for referring every international transaction between an MNC’s arms for compulsory transfer pricing audit, and about to embrace a more focused approach to zero in on cross-border transactions with potential for tax evasion. The proposed risk-based selection of transactions between MNC arms… – Continue reading
The much-anticipated initial public offering of Chinese Internet giant Alibaba Group could be a double-edged sword for the company: Investors are drooling for a piece of the action in that country’s burgeoning online payment market, but its growing use in illegal transactions could attract scrutiny from Chinese government regulators. Alibaba,… – Continue reading
Every foreign entity must take steps immediately to determine whether FATCA will apply to it and, if so, whether FATCA registration will be required by April 25, 2014. FATCAi will go into effect on July 1, 2014. Foreign entities that must be FATCA-compliant by July 1, 2014 must register with… – Continue reading
Deadlines are fast approaching for funds to comply with FATCA, the IRS announced an April 25 deadline for fund managers to register their offshore funds and offshore master funds with the IRS. Funds have until May 5 2014 to get their Global Intermediary Identification Numbers. Notably, the IRS has also… – Continue reading
Canada is clamping down on off-shore tax shelters used by private-equity funds, in a move that may curb investment in the oil and gas industry by KKR & Co. and Blackstone Group LP. (BX) The government has given private-equity firms and other interested parties until April 11 to respond to proposals tucked… – Continue reading
Expats should put their financial affairs in order while they have the chance as governments around the world prepare a global tax net aimed at wiping out avoidance. The operation is headed by the Organisation of Economic Co-Operation and Development (OECD) and closely follows the lines of the controversial US… – Continue reading
The Cayman Islands government has announced, by way of a Gazette dated 21 March 2014, its intention to introduce a registration and licensing regime for directors of certain regulated entities in the Cayman Islands. This has been anticipated since the Cayman Islands Monetary Authority (“CIMA“) conducted its industry wide corporate… – Continue reading
VANCOUVER, BRITISH COLUMBIA and CALGARY, ALBERTA–(Marketwired – March 27, 2014) – Tax announcements don’t usually get the same attention as the Olympics, politics or other stories that commonly hit the front page of newspapers. But if you are a US person who has not complied with your annual US tax filing… – Continue reading
The British Virgin Islands Financial Services Commission (the “FSC”) is advising the public that on 5 March, 2014, The Ukraine (Sanctions) (Overseas Territories) Order 2014 was ratified and extended to the Territory by virtue of article 1 and Schedule 1 to the Order. NOTICE IS HEREBY GIVEN that this Order… – Continue reading
The Bankruptcies and Liquidations Section announces that, with accordance to the Companies (Amendment) (No. 2) Act 2011, it will not receive the documents for Voluntary Liquidation, unless they are accompanied by a proof of payment of the Annual Fee of the amount of €350 – for all the pending years,… – Continue reading
The Revenue (Reduction of Business Registration Fees) Order 2013, which reduces the prescribed business registration fee by a sum of $2,000 at present, will expire on 1 April 2014. Please refer to the website of the Inland Revenue Department and the business registration fee & levy table for details. With effect from 1 April… – Continue reading
The Department of Registrar of Companies and Official Receiver announces that as from 2 January 2014 documents which are submitted for the registration of New Companies, Partnerships/Business Names and European Companies, as well as documents which are submitted for any form of change to the particulars of a registered company… – Continue reading
The Department of Registrar of Companies and Official Receiver announces that as from 2nd April 2014 the payment of the annual fee of three hundred and fifty euros (€350) for the years 2011 and 2014 will be done only through the Department’s website www.mcit.gov.cy/drcor and through JCCsmart. NO payment of the annual… – Continue reading
The 92 forms newly specified by the Registrar of Companies for use after the commencement of the new Companies Ordinance (Chapter 622) on 3 March 2014 have been uploaded onto the dedicated thematic section New Companies Ordinance. A CD-ROM containing a full set of the new forms and hard copies of… – Continue reading
As of 12 February 2014, The Korean Intellectual Property Office (KIPO) has made its trade mark data available to the TMview search tool. The integration of KIPO is a concrete result of the International Cooperation programme managed by OHIM in collaboration with its international partners. This last extension brings the… – Continue reading
The Department of the Registrar of Companies and Official Receiver announces that as from 2nd April 2014 the documents for registration of private companies with share capital will be filed only electronically through the Department’s website www.mcit.gov.cy/drcor. The Departments’ Cashier Office WILL NOT receive documents relating to the registration of private… – Continue reading
The new Companies Ordinance, Chapter 622 of the Laws of Hong Kong, (“the new Ordinance”) and 12 pieces of subsidiary legislation commence operation today. To tie in with the commencement of the new Ordinance, this website has been updated to provide information on the requirements for registration of companies and… – Continue reading
Section 3 and 4 of the Companies (Miscellaneous Provisions) Act 2013 commenced on Monday 10th March 2014. This Act removes the requirement for accounts documents filed with the CRO to include handwritten signatures of Directors, Auditors etc and instead requires that the signatures appear in TYPED form on each document. Where accounts… – Continue reading
The Companies (Miscellaneous Provisions) Act 2013 was signed by the President on 24th December 2013. This action had the effect of changing the citation of the Companies Acts to “1963 to 2013”. This citation should henceforth appear on all copies of Memoranda and Articles of association filed with the CRO…. – Continue reading
Users of Secretarial Software Packages will be familiar with the use of PINs and IDs as the current electronic signing solution for CRO forms. In March 2013, the CRO advised suppliers of the Company Secretarial Software Packages that it will be phasing out the use of PINs and IDs as… – Continue reading
The Companies (Miscellaneous Provisions) Act 2013 was signed by the President on 24th December 2013. This action had the effect of changing the citation of the Companies Acts to “1963 to 2013”. This citation should henceforth appear on all copies of Memoranda and Articles of association filed with the CRO…. – Continue reading
Download the new approved investment manager application form here: Click here to download
The Financial Services Authority wishes to advise that an entity called “ATM Express AG” claiming to offer Forex Services as a registered St. Vincent and the Grenadines International Business Company, is not and has never been registered by the St. Vincent and the Grenadines Financial Services Authority. The purported entity… – Continue reading
As part of its plan to go paperless, General Registry is now piloting the second phase of its upgraded online system, during which the department will receive feedback on how well the system works. After three weeks, there have been no major glitches to correct and a number of efficiencies… – Continue reading
The Authority draws attention to the following website, http://www.investonline.net/ and to the fact that contrary to what is being advertised on this website, the company under the name Invest Online Ltd is not registered and/or licensed by the Authority under the International Business Companies Act, 1994 as amended. Members of the… – Continue reading
The number of local companies newly registered with the Companies Registry in 2013 hit a record high of 174,031, up from 150,165 in 2012, according to the statistics released by the Companies Registry today (January 12). “By the end of 2013, the total number of live local companies registered under… – Continue reading
The new Companies Ordinance, Chapter 622 of the Laws of Hong Kong (“new CO”), will commence operation on 3 March 2014. The provisions of the new Ordinance and the subsidiary legislation, as well as useful reference materials, are available at the dedicated thematic sectionon this website. A dedicated hotline has been… – Continue reading
