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Bermuda is added to the list of jurisdictions adopting an Economic Substance Regime. Bermuda is used by numerous insurance companies (for example: AIA in Hong Kong) in order to lower the costs and avoid stamp duty on shares. Insurance companies already have on the ground staff in Bermuda so this should not be a problem for them.

The Bahamas follow many other jurisdictions by adopting substantial economic presence requirements: activities must be conducted from the Bahamas.

Die Britischen Jungferninseln (BVI) adopts economic substance requirements applicable from 1 January 2019 (with a six-month transitional period for existing legal entities) if it conducts any of the following “relevant activities”: banking business insurance business fund management business finance and leasing business headquarters business shipping business holding business intellectual property business distribution and service centre business. If the economic substance fail, the BVI non-resident company needs to show that it is resident (and taxed) in another jurisdiction. Companies registered in the BVI are widely used in Hong Kong.

Mauritius lässt seine Global Business Companies auslaufen (GBC) auf der 30 Juni 2021. Nur ein einziges GBC-Regime wird überleben, mit 2 in Mauritius ansässige Direktoren erforderlich, und eine einzelne 15% Körperschaftsteuersatz.

The low-cost model is spreading in many markets: airlines, tourism, manufacturing, housing, finance, etc… There was a time when the customers were doubtful regarding low-cost airlines (safety, reliability, etc). But within a decade: the prices were so low that the customers were too attracted to ignore them. After almost a decade of offering PROMINEE® services (we are approaching the 10th anniversary of this website): the customers are starting to understand that they have been paying too much for some services. The debacles of some expensive competitors prove that very high priced operators are not a guarantee of trust & reliability. ... Weiterlesen

After Belize, Barbados is the next country to alter their assets rules for IBCs and ISRLs (International Society with Restricted Liability). IBCs and ISRLs will be phased out on the 30th June 2021, and all companies will be converted into RBC (Regular Barbados Companies). This was done under the pressure of the OECD and the EU Code of Conduct Group. If you want to re-domicile your Barbados company: kontaktiere uns.

It is not very surprising that Belize continues to shoot itself in the foot. It probably shows that this jurisdiction is just after your money (and they do not care about serving you). In two regulations (dated 2018 and 2019), the government has banned: all IBCs from holding Intellectual Property (!) all IBCs from being holding companies (holding shares of other companies). Penalty is: US$25,000 for the first offence, and US$100,000 for any subsequent one. If your IBC is a shareholder of any other company in the world: you are committing an offence. If you want to re-domicile your Belize ... Weiterlesen

Es liegt zwar nicht im Interesse dieses Blogs, über digitale Währungen zu sprechen, die Republik der Marshallinseln ist von Interesse (da es eine große Gerichtsbarkeit ist, in die man sich eingliedern kann). In diesem Jahr verabschiedete das Land die: Deklaration und Erlass des Sovereign Currency Act 2018. Ergebnisse der Untersuchung: It appears that the President of the Marshall Islands (Hilda Heine) has (unfortunately) been convinced by an Israëli startup (Neema) that the project was a way to get US$30 million into the country’s budget ; With 12 million of the new currency units kept by the government, and distributed ... Weiterlesen

Es gab eine Zeit, da hatte Anjouan eine (vorübergehend) Finanzmarkt (weg seit 2005). Ein anderer ist noch online: MISA genannt (Mwali International Service Authority). Die Website und Gesetze sind auf Englisch: in der Erwägung, dass die Amtssprache des Landes Französisch ist. Diese Autorität ist völlig gefälscht, und ist mit der Insel Mohéli . verbunden. Everything is fake, including this fake bank. Eine Warnung wurde seit April veröffentlicht 2014 by the Central Bank of the Comoros (wenn auch nur auf französisch). Die Liste der lizenzierten Banken ist hier: es sind nur 4 Banken im Land. Es gibt sogar eine ... Weiterlesen

What do LLCs, LLPs, S-Corps, and Partnerships have in common? They are all pass-through entities (simply: not subject to a corporate taxation). Under a new Trump tax proposal, the pass-through entities status will be revoked and will be taxed at a 15% federal tax rate. Such plan will immediately transform all LLCs in the US into a corporation, as federal corporate tax is concerned. This however is to be compensated by switching the US to a territorial tax system. First of all: at the time of writing, these proposals have not been approved nor been passed as a law yet. It ... Weiterlesen