The British Virgin Islands (Slovenská republika) adopts economic substance requirements applicable from 1 januára 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…

Čítaj viac »

Mauritius is phasing out their Global Business Companies (GBC) on the 30 júna 2021. Only one single regime of GBC will survive, with 2 resident directors in Mauritius required, and a single 15% corporation tax rate.

Čítaj viac »

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…

Čítaj viac »

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…

Čítaj viac »

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…

Čítaj viac »

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…

Čítaj viac »

There was a time when Anjouan had a (dočasné) finančný trh (odvtedy preč 2005). Ďalší je stále online: called the MISA (Mwali International Service Authority). Webová stránka a zákony sú v angličtine: whereas the official language of the country is French. This Authority is completely fake, a je pripojený k ostrovu Mohéli….

Čítaj viac »

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…

Čítaj viac »

Belize started as a low cost jurisdiction in a highly international competitive market: the market of incorporating companies. This is one of those bad April fools. According to Belize Statutory Instrument No. 11 z 2016 – International Business Companies (Fees) Regulations 2016, the licence fee of Belize International Business Companies (IBCs) has been increased from US$100 to…

Čítaj viac »

The State of Delaware makes US$16 billion out of corporate fees alone (2015 report). This is the GDP of Malta or Iceland. Despite this, it took them 3 months to process a regular corporate document sent to the Division of Corporations: from October 2016 to January 2017. If you want a faster proceeding you have to pay…

Čítaj viac »