Switzerland is undoubtedly one of the most attractive countries in the world in which to live, work, and run a company. It offers a combination of political and economic stability, a clean and safe environment, and comparatively low personal and company tax rates. However the tax regime can be quite complex.
Benefits of registering a company in Switzerland:
- Switzerland has a leading position among industrialized countries in enabling the acquisition of new skills and technologies in the growth sectors of the future;
- Long-term, stable decision-making fundamentals, liberal legislation, protection of free competition and cooperative authorities encourage the establishment of headquarters and facilities in Switzerland for research and production activities;
- Internationally recognized institutes consistently give the country top rankings for legal security, long-term stability, guaranteed protection of free competition and property ownership and minimal bureaucracy. These fundamental criteria position Switzerland as an advantageous European location for establishing a business.
- Switzerland has one of the most liberal and competitive economies in the world. The banking industry is one of the most important sectors of the Swiss economy. The laws regulating the banking system, and particularly the banking secrecy policies, offer extensive protection for domestic as well as foreign investors.
- Switzerland continues to be one of the most attractive locations for foreign direct investment. The country offers many advantages and benefits for business investors.
- With respect to overall productivity, Switzerland ranks fifth among the world’s leading national economies.
- The Swiss tax system is strongly influenced by the federal structure of the country. Emphasis is on direct taxes. By European standards, the tax burden in Switzerland is moderate – both for companies and individuals.
Gibraltar companies now have to disclose full Beneficial Ownership details to Central Register
Gibraltar is working to implement all EU legislation relating to the 4th Anti Money Laundering Directive into national law, in addition to the current EU legislation on financial supervision and direct taxation, and to this affect, the Government of Gibraltar have established a Central Register of Beneficial Ownership that will be effective from June 26th 2017.
European Commission publishes tax avoidance disclosure directive
The EC (European Commission) has published its draft legislation compelling financial service providers or intermediaries to disclose any international tax planning schemes they have encouraged, enabled or assisted in any way.
OECD publishes compliance review for all non-compliant jurisdictions
The OECDs global tax transparency initiative was launched last year in April 2016, with the purpose of encouraging every jurisdiction across the world to commit to implementation of a CRS (Common Reporting Standard) for automatic exchange of information by 2018, and to sign the Multilateral Convention on the exchanging of tax data. A forum on behalf of the OECD has released the results of its review for jurisdictions it considers to be non-compliant.
EU Parliament Committee release findings & recommendations for current offshore taxation measures
A formal enquiry into the Panamanian law firm Mossack Fonseca has been launched by the European Parliament's Committee, which found gaps in beneficial ownership transparency for trusts and fiduciaries and didn’t meet the EU standard.
2017 G20 summit: Enforcement of taxation highest priority
The 2017 G20 leaders’ summit took place in Hamburg last week where the European Commission Council and leaders discussed the priorities and primary projects for the upcoming summit. EC President Jean-Claude Juncker has stated that advancing the global combat against tax evasion is top of the list.
The EC takes action against advocates promoting tax avoidance schemes
The European Commission has recommended the implementation of a new regulation regarding companies or intermediaries who promote or design cross-border tax planning schemes will going forward be required to provide full disclosure to the tax authorities of their relevant jurisdiction within five days of offering them to clients.
What are the new Beneficial Ownership reporting requirements for BVI companies?
Going forward, a new regulation will require certain British Virgin Islands companies to gather and retain details of Beneficial Owners with 25% or more of the company’s shareholding rights, with an ongoing requirement to keep the details up to date.
Russian citizens can gain Cyprus tax residency by staying only 60 days on island, whats the catch?
Cyprus is once again working to improve its economic desirability and will be able to increase its alternative business base for Russians with good creditworthiness.