The Bahamas adopted substantial economic presence requirements
The Bahamas follow many other jurisdictions by adopting substantial economic presence requirements: activities must be conducted from the Bahamas.
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The British Virgin Islands (BVI) adopts economic substance requirements
The British Virgin Islands (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…
Mauritius is terminating its Global Business Companies (GBC)
Mauritius is phasing out their Global Business Companies (GBC) on the 30 June 2021. Only one single regime of GBC will survive, with 2 resident directors in Mauritius required, and a single 15% corporation tax rate.
We are a low-cost provider
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…
Barbados says “no” to Intellectual Property
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…
Belize IBCs banned to be holding companies
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…
The Republic of the Marshall Islands (RMI) and their Sovereign
While it is not in the interest of this blog to talk about digital currencies, the Republic of the Marshall Islands is of interest (as it is a great jurisdiction to incorporate into). This year the country adopted the: Declaration and Issuance of the Sovereign Currency Act 2018. Results of the investigation: It appears that the…
Comoros: Anjouan and Mwali do NOT have financial services
There was a time when Anjouan had a (temporary) financial market (gone since 2005). Another one is still online: called the MISA (Mwali International Service Authority). The website and laws are in English: whereas the official language of the country is French. This Authority is completely fake, and is attached to the island of Mohéli….
Bagaimana Trump akan mempengaruhi entiti AS untuk penduduk bukan AS?
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…
IBC Belize: kenaikan yuran dari AS $ 100 kepada AS $ 200 sejak 1 April 2016
Belize bermula sebagai bidang kuasa kos rendah di pasaran persaingan antarabangsa: pasaran syarikat penggabungan. Ini adalah salah satu orang bodoh April yang buruk. Menurut Instrumen Berkanun Belize No. 11 daripada 2016 - Syarikat Perniagaan Antarabangsa (Bayaran) Peraturan 2016, yuran lesen Syarikat Perniagaan Antarabangsa Belize (IBC) has been increased from US$100 to…
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