Resources

The Secrets to Successfully Opening a Bank Account in Singapore

How it all began For more than 10 years, our company has been successfully opening bank accounts for our clients. During this time, we have accumulated a vast experience in …

Is Cyprus Heading for Another 2013 Banking Crisis?

Cyprus is experiencing another banking collapse. Currently, Cyprus Co-operative Bank is going through a difficult time. This passes unnoticed among most foreigners and it is not surprising – the bank’s …

Bank of Cyprus Overseas Companies’ Account Closures: What to Do?

On June 14th 2018, the Central Bank of Cyprus sent a letter to all financial institutions in which he urged Cypriot banks to close down bank accounts for sham companies. …

Q&A: Does my Cayman Company Have to Register for FATCA? 2020 Update

Q- As far as my Cayman Islands company doesn’t have US investors, does it have to register with FATCA? A- Yes- The IGAs and the FATCA Regulations apply to all …

Reporting Requirements for Scottish Limited Partnerships

The financial and reporting requirements for Scottish Limited Partnerships (SLPs) vary depending on whether the company is a micro-entity, or a small, medium or large entity. Micro-entities and small companies …

UK Penalties For Filing Incorrect Financial Statements & Corporate Tax Returns

HM Revenue and Customs (HMRC) General anti-abuse rule (GAAR) guidance, with reference to The UK Finance Act 2013, the UK Companies Act 2006, the National Insurance Contributions Act 2014. All …

Deutsche Bank Again Found to be Involved with the Latest in Jho Taek Low Case

New reports have come to light regarding Jho Taek Low, who is a Malaysian businessman and international fugitive sought by the authorities in the US, Singapore, and Malaysia in connection …

The Current Issue with Excess Liquidity in Cyprus Banks

A recipe for potential problems and symptoms of a troubled economy is when the main banks have what is known as excess liquidity. When citizen have to borrow money, however …

Cyprus Financial Authorities Agree to Reduce Bank Charges & Assist Elderly Clients

Earlier this week, financial authorities such as Bank of Cyprus, issued a ruling officially scaling back on the recently announced controversial bank charges, which corporations and individuals found out about …

Russian Entrepreneur & Cyclist Released on Bail in the UK on Tax Fraud Charges

Westminster Magistrates Court has released Russian entrepreneur and businessman, Mr Oleg Tinkov on bail while he fights extradition to the US on charges of failing to disclose income in his …

Private UK International Law Bill to Replace EU Directives: Brexit

The UK government has introduced a Bill allowing it to enact into domestic law any new international agreements it makes on private international law, now that its departure from the …

Companies Relocating Within EU Cannot Offset Accrued Losses Anymore

The Court of Justice of the European Union (ECHJ) has held in AURES Holdings (C-405/18) that acompany which relocates from one EU Member State to another cannot take its previously …

Сommon question

If I want to open a bank account for an existing company that is older than 3 months, does it require any additional documentation? Banks in any jurisdiction has the …

Company Registration

s it possible to pay for a virtual office on a monthly basis? As standard practice, we use a pre-payment for the financial year for the rental of our virtual …

Offshore Concept

As reflected in the legislation that governs overseas jurisdictions, is there more pressure to survive? It should be noted that now the pressure on the offshore zones reduced. Offshore zones could …

Confidentiality

Is there any assurance that tax authorities or other interested person, if desired, will not be able to get information about who is the real owner of the offshore company? …

Bank Accounts

Which banks co-operate with Eltoma Corporate Services in matters regarding account opening? Company Eltoma Corporate Services offers bank account opening services in Cyprus, the Baltic States, Switzerland, Austria, Czech Republic, …