Micro News

As the new regulations introduced by the Singapore Ministry of Manpower suggest, as of January 1st, 2017, the minimum required salary for Employment Pass applications is to be increased to SGD$3,600. This indeed is a minimum income level, which does not ensure a positive decision on the work permit in…

Each bank has their own procedures for tracking and capturing suspicious payments. Since most banks have already implemented automated transaction systems, all of them apply certain filters to track payments. Hong Kong HSBC can be taken as an example: it definitely has filters adjusted to Latvia, not…

Criteria for the EU offshore blacklist

The EU has been working on establishing criteria and compiling an offshore blacklist. One of the conclusions suggest that a zero income tax rate shall not constitute grounds for being blacklisted. This is good news for Singapore and Hong Kong, where the territorial taxation system implies that the income…

The rock-solid Swiss banking sector

Despite the rough patch that the Swiss banking sector has been going through lately, it didn’t lose its foothold on the world market of private wealth management services. However, the country has lost its world leadership in this sphere, which is frustrating for Swiss bankers. Back in 2005, Switzerland…

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