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Tax and Jurisdictions

Increases in tax burden predicted as UK tax man targets family offices

March 2, 2020

Families are being advised to get their financial affairs in order and brace for an increase in tax bills following the revelation the UK’s tax authority set up a secret unit to probe family investment companies, specifically their use by the wealthy to avoid inheritance tax.

Capital Hub: Obligation to declare UBOs to Greek Ministry of Finance’s Central Register

January 13, 2020

For the first time, legal persons and other entities are obliged to declare their Ultimate Beneficial Owners (UBO) to the Central Register of the Ministry of Finance (MFA).

For the first time, legal persons and other entities are obliged to declare their Ultimate Beneficial Owners (UBO) to the Central Register of the Ministry of Finance (MFA).

Capital Hub: Montenegro—a new regional hub?

January 6, 2020

This small Mediterranean country—known as the perfect blend of gorgeous coastline and dramatic mountains—has much more to offer than meets the eye.

This small Mediterranean country—known as the perfect blend of gorgeous coastline and dramatic mountains—has much more to offer than meets the eye.

In terms of the business climate, significant progress has been made in the last couple of years towards streamlining business start-up procedures. Many investors have entered the market which has resulted in a remarkable rise of foreign direct investment. But, is there perhaps a development opportunity which might have been overseen? Does Montenegro have the potential to become a regional IT hub?

The Greek treatment of digital platform short-term property rentals

January 15, 2019

How the Greek legislation regulates short-term rentals of real estate property within the so-called framework of “sharing economy”.

The Greek legislation regulates short-term rentals of real estate property within the so-called framework of “sharing economy” (through digital platforms like Airbnb) in the article 111 of Law 4446/2016, as amended and in force.

Important definitions

A sharing economy is considered to be any model where digital platforms create an open market for the temporary use of goods or services that are often provided by individuals.

Capital Hub: Georgian Virtual Zone Entities offer new opportunities for IT companies

January 7, 2019

Georgia is becoming an increasingly popular jurisdiction for doing business both domestically as well as internationally. Attractive factors include the country’s top international ranking on ease of starting and maintaining a business, as well as the fact Georgia has proven itself to be a corruption-free destination.

Capital Hub: Cyprus Tax Residency in 60 Days

December 18, 2018

Last year, the Cypriot House of Representatives voted into law the revised criteria for determining the tax residency of individuals in Cyprus.

Last year, the Cypriot House of Representatives voted into law the revised criteria for determining the tax residency of individuals in Cyprus.

Specifically, a second test was added in addition to the 183 day rule for individuals who do not spend more than 183 days in Cyprus or another jurisdiction. As per the new test, all of the following three criteria should be met for an individual to be considered a Cyprus tax resident:

• Remains in Cyprus for at least 60 days in the year of assessment

Asiaciti Trust Group

August 13, 2018

Asiaciti Trust is an independent trustee and fiduciary services business group offering specialist services internationally to both private clients and business corporations. Having established its corporate identity in 1978, Asiaciti Trust has its foundations in chartered accountancy practices which date back to 1886.

Asiaciti Trust is an international trust and corporate services provider. For 40 years we have delivered specialist fiduciary and administrative services to individuals, intermediaries and corporations.

Asiaciti Trust has operations in Singapore, Hong Kong, the Cook Islands, Dubai, Nevis, New Zealand, Panama and Samoa. We are Asia Pacific focused with global reach, able to offer structures and solutions in almost any jurisdiction via our extensive internationalnetwork.

Global Greek couples in different countries set to gain from tax change

July 16, 2018

Following the decision of the Greek court, it is now possible for spouses to submit separate individual annual tax returns depending on their tax residency.

This decision comes as a solution to the problem of married couples who live separately due to various reasons, such as when one of them lives abroad because of professional engagements.

Following the decision of the Greek court, it is now possible for spouses to submit separate individual annual tax returns depending on their tax residency.

This decision comes as a solution to the problem of married couples who live separately due to various reasons, such as when one of them lives abroad because of professional engagements.

Capital Hub—The summer never ends in Cyprus

July 10, 2018

If you and your family are tired of rain and cold weather and dreaming of a non-stop summer, we can help you make your dreams come true.

You can easily move to Cyprus and—within a few short months—obtain both permanent residency and Cypriot citizenship. Enjoy a never-ending summer as well as all the benefits of being an EU citizen.

More family offices look offshore

April 27, 2018

More family offices are looking to shift jurisdiction this year, advisers say, as political instability continues from London to the Middle East.

More family offices are looking to shift jurisdiction this year, advisers say, as political instability continues from London to the Middle East.