April 7, 2021

I would argue that HNWIs both in Asia and the Americas should now start to look at effective investment migration strategies that allow one to hedge their bets. As this article in Asia Nikkei and the legislative proposals of Senators Warren and Sanders in the United States suggests, the wealthy are in for a period of great uncertainty. Governmental action everywhere over the last twelve months has pushed the world towards economic stagnation, and the tax man shall be quite…

April 6, 2021

U.S. Treasury Secretary Janet Yellen argued this week for the imposition of a global minimum corporate tax rate. Her comments were set in the context of increasing U.S. corporate taxes to fund Joe Biden’s USD $2 trillion+ infrastructure plan.   Why do we care? The argument goes that by convincing other countries to impose a global minimum tax would greatly reduce the likelihood of U.S. companies relocating offshore, as America is set to potentially increase the corporate rate from 21% to…

March 28, 2021

Cyprus has made some changes to its permanent residency by investment program.  Quite a good step in the right direction.  However, in order to be competitive, Cyprus must align its offering with that of Portugal or the new Bulgarian fast track programme.  Permanent residency is quite limited in Cyprus because the island is physically cutoff from Europe and is not part of Schengen. A very good synopsis on the program can be found at IMI Daily.

March 27, 2021

Saw an interesting piece on crypto-currencies and tax regimes in Wealth Management.  Worth the read.

March 15, 2021

In the waning days of the Trump Presidency a little known act – the “Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2019” – was passed into law as part of the reconciled National Defense Authorization Act for Fiscal Year 2021 (H.R. 6395). Overcoming a Presidential Veto, the passed enactments ushered in broad changes to US anti-money laundering, financial crime and tax evasion laws. As it stands, today America’s treasury and justice departments can subpoena any account records from…

March 14, 2021

Came across an interesting piece in the New York Post regarding NY state legislature proposing an additional USD $7bn in new and increased taxes on businesses and the ultra wealthy. What legislatures continually fail to grasp is the fact that such additional taxes just cause capital flight.  Read more.

Steven is a director at Saratoga Capital Partners, a Nicosia based PE group focused on emerging markets. He is a partner in the Nicosia and Bucharest offices of Penenden, a CEE focused law, accountancy and advisory firm.

 

A lawyer by profession, he has over 20 years of experience in developed and emerging markets in both common law and continental civil law jurisdictions. Steven has been a member of, or has led, extensive deal teams in Canada, the United States, Eastern Europe and Central Asia.

 

© 2021 Steven M. Pepa

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Steven is a director at Saratoga Capital Partners, a Nicosia based PE group focused on emerging markets. He is a partner in the Nicosia and Bucharest offices of Penenden, a CEE focused law, accountancy and advisory firm.

 

A lawyer by profession, he has over 20 years of experience in developed and emerging markets in both common law and continental civil law jurisdictions. Steven has been a member of, or has led, extensive deal teams in Canada, the United States, Eastern Europe and Central Asia.

 

April 7, 2021

I would argue that HNWIs both in Asia and the Americas should now start to look at effective investment migration strategies that allow one to hedge their bets. As this article in Asia Nikkei and the legislative proposals of Senators Warren and Sanders in the United States suggests, the wealthy are in for a period of great uncertainty. Governmental action everywhere over the last twelve months has pushed the world towards economic stagnation, and the tax man shall be quite…

April 6, 2021

U.S. Treasury Secretary Janet Yellen argued this week for the imposition of a global minimum corporate tax rate. Her comments were set in the context of increasing U.S. corporate taxes to fund Joe Biden’s USD $2 trillion+ infrastructure plan.   Why do we care? The argument goes that by convincing other countries to impose a global minimum tax would greatly reduce the likelihood of U.S. companies relocating offshore, as America is set to potentially increase the corporate rate from 21% to…

March 28, 2021

Cyprus has made some changes to its permanent residency by investment program.  Quite a good step in the right direction.  However, in order to be competitive, Cyprus must align its offering with that of Portugal or the new Bulgarian fast track programme.  Permanent residency is quite limited in Cyprus because the island is physically cutoff from Europe and is not part of Schengen. A very good synopsis on the program can be found at IMI Daily.

March 27, 2021

Saw an interesting piece on crypto-currencies and tax regimes in Wealth Management.  Worth the read.

March 15, 2021

In the waning days of the Trump Presidency a little known act – the “Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2019” – was passed into law as part of the reconciled National Defense Authorization Act for Fiscal Year 2021 (H.R. 6395). Overcoming a Presidential Veto, the passed enactments ushered in broad changes to US anti-money laundering, financial crime and tax evasion laws. As it stands, today America’s treasury and justice departments can subpoena any account records from…

March 14, 2021

Came across an interesting piece in the New York Post regarding NY state legislature proposing an additional USD $7bn in new and increased taxes on businesses and the ultra wealthy. What legislatures continually fail to grasp is the fact that such additional taxes just cause capital flight.  Read more.

April 7, 2021

I would argue that HNWIs both in Asia and the Americas should now start to look at effective investment migration strategies that allow one to hedge their bets. As this article in Asia Nikkei and the legislative proposals of Senators Warren and Sanders in the United States suggests, the wealthy are in for a period of great uncertainty. Governmental action everywhere over the last twelve months has pushed the world towards economic stagnation, and the tax man shall be quite…

April 6, 2021

U.S. Treasury Secretary Janet Yellen argued this week for the imposition of a global minimum corporate tax rate. Her comments were set in the context of increasing U.S. corporate taxes to fund Joe Biden’s USD $2 trillion+ infrastructure plan.   Why do we care? The argument goes that by convincing other countries to impose a global minimum tax would greatly reduce the likelihood of U.S. companies relocating offshore, as America is set to potentially increase the corporate rate from 21% to…

March 28, 2021

Cyprus has made some changes to its permanent residency by investment program.  Quite a good step in the right direction.  However, in order to be competitive, Cyprus must align its offering with that of Portugal or the new Bulgarian fast track programme.  Permanent residency is quite limited in Cyprus because the island is physically cutoff from Europe and is not part of Schengen. A very good synopsis on the program can be found at IMI Daily.

March 27, 2021

Saw an interesting piece on crypto-currencies and tax regimes in Wealth Management.  Worth the read.

March 15, 2021

In the waning days of the Trump Presidency a little known act – the “Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2019” – was passed into law as part of the reconciled National Defense Authorization Act for Fiscal Year 2021 (H.R. 6395). Overcoming a Presidential Veto, the passed enactments ushered in broad changes to US anti-money laundering, financial crime and tax evasion laws. As it stands, today America’s treasury and justice departments can subpoena any account records from…

March 14, 2021

Came across an interesting piece in the New York Post regarding NY state legislature proposing an additional USD $7bn in new and increased taxes on businesses and the ultra wealthy. What legislatures continually fail to grasp is the fact that such additional taxes just cause capital flight.  Read more.

April 7, 2021

I would argue that HNWIs both in Asia and the Americas should now start to look at effective investment migration strategies that allow one to hedge their bets. As this article in Asia Nikkei and the legislative proposals of Senators Warren and Sanders in the United States suggests, the wealthy are in for a period of great uncertainty. Governmental action everywhere over the last twelve months has pushed the world towards economic stagnation, and the tax man shall be quite…

April 6, 2021

U.S. Treasury Secretary Janet Yellen argued this week for the imposition of a global minimum corporate tax rate. Her comments were set in the context of increasing U.S. corporate taxes to fund Joe Biden’s USD $2 trillion+ infrastructure plan.   Why do we care? The argument goes that by convincing other countries to impose a global minimum tax would greatly reduce the likelihood of U.S. companies relocating offshore, as America is set to potentially increase the corporate rate from 21% to…

March 28, 2021

Cyprus has made some changes to its permanent residency by investment program.  Quite a good step in the right direction.  However, in order to be competitive, Cyprus must align its offering with that of Portugal or the new Bulgarian fast track programme.  Permanent residency is quite limited in Cyprus because the island is physically cutoff from Europe and is not part of Schengen. A very good synopsis on the program can be found at IMI Daily.

March 27, 2021

Saw an interesting piece on crypto-currencies and tax regimes in Wealth Management.  Worth the read.

March 15, 2021

In the waning days of the Trump Presidency a little known act – the “Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2019” – was passed into law as part of the reconciled National Defense Authorization Act for Fiscal Year 2021 (H.R. 6395). Overcoming a Presidential Veto, the passed enactments ushered in broad changes to US anti-money laundering, financial crime and tax evasion laws. As it stands, today America’s treasury and justice departments can subpoena any account records from…

March 14, 2021

Came across an interesting piece in the New York Post regarding NY state legislature proposing an additional USD $7bn in new and increased taxes on businesses and the ultra wealthy. What legislatures continually fail to grasp is the fact that such additional taxes just cause capital flight.  Read more.