UBS, the world’s largest wealth manager, told its HNW (high-net worth) clients that it would introduce an annual 0.6% charge on cash savings of amounts exceeding €500,000 (GDP £460,000) last…
Day: 14 August 2019
Cyprus Sees 9th Consecutive Drop in Company Incorporations
The Registrar of Companies in Cyprus has released the latest economic indication figures showing that the number of incorporation applications in Cyprus has fallen by 9.9% year-on-year this July 2019,…
Hong Kong Issues Guidance for Multinational Groups
The Hong Kong Inland Revenue Department has clarified requirements for transfer pricing documentation and country-by-country reporting by multinational groups whose gross annual income surpasses HKD $400 million (USD $50 million).
Klarna is the New Swedish Start-up Everyone is Talking About
Klarna, the Swedish payments the start-up has officially become the largest private fintech firm in Europe after a new round of investor funding increased its net value to $5.5bn (£4.5…
Klarna is the New Swedish Start-up Everyone is Talking About
Klarna, the Swedish payments the start-up has officially become the largest private fintech firm in Europe after a new round of investor funding increased its net value to $5.5bn (£4.5…
Yachts Responsible for Pollution Cannot be Charged as per Cyprus Maritime Law
The mayor of Germasogeia, Kyriacos Xidias, stated in a news conference last week regarding authorities being unable to effectively respond and charge yacht owners after they’ve left pollution offshore in…
UK Privy Council Rules Insolvency Legislation in Cayman & Bahamas Cases
The Privy Council in the UK has recently ruled two important cases concerning appeals in insolvency law on the Caribbean jurisdictions. The Weavering Case (the UK’s largest hedge fund fraud…
Владельцы яхт, загрязняющих окружащую среду, не могут быть оштрафованы на Кипре [translations pending]
Мэр Гермасойи Кириякос Ксидиас, выступавший на прошлой неделе на конференции, посвященной проблемам борьбы с загрязнением владельцами яхт прибрежных вод города Лимасола, заявил, что нынешнее законодательство Кипра не позволяет накладывать штрафы…
UK: Swiss trustees claim against Australian beneficiaries
The UK court has struck out a breach of trust claim brought against a Swiss trustee corporation by the beneficiaries from Australian state of Victoria. The South African beneficiary sought…
US Increases Minimum Investment Amount for EB-5 Residency Visa
As anticipated by industry experts, the US Immigration Service has increased the minimum investment criteria amount for immigrant investors wishing to become US permanent residents using the naturalisation method: EB-5…