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HNWIs seeking to leave the…

July 19, 2022

An interesting read from Family Capital. Although I agree with the net-outflow thesis, the issue is where will these millionaires...

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Hungary blocks global minimum tax

June 20, 2022

Hungary blocked an EU directive that would impose a 15% minimum tax on multinational corporations, arguing the levy would deal...

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Why Malaysia’s failure on MM2H…

September 5, 2021

Last month, Malaysia placed new and more onerous compliance requirements on its MM2H (Malaysia My Second Home) program. As expected,...

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When Investment Migration Programs Go…

May 24, 2021

An interesting quick read with respect to the Cyprus property market post-CIP. What the authors do not stress, and is...

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News

The Pending Paradigm Shift

May 1, 2021

Without trying to sound cliché, Karl Marx once wrote: "History repeats itself, first as tragedy, second as farce." This seems...

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Wealthy beware

April 7, 2021

I would argue that HNWIs both in Asia and the Americas should now start to look at effective investment migration...

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For the 99.5% Act

April 7, 2021

On March 25, 2021, Senator Bernie Sanders introduced legislation entitled “For the 99.5% Act.”  The aim of the bill is...

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US attempts to create a…

April 6, 2021

U.S. Treasury Secretary Janet Yellen argued this week for the imposition of a global minimum corporate tax rate. Her comments...

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Cyprus changes permanent residency program…

March 28, 2021

Cyprus has made some changes to its permanent residency by investment program.  Quite a good step in the right direction. ...

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News

Crypto & Taxes

March 27, 2021

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

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FATCA and Foreign Bank Accounts

March 15, 2021

In the waning days of the Trump Presidency a little known act - the "Combating Money Laundering, Terrorist Financing, and...

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NY Beware. Americans are looking…

March 14, 2021

Came across an interesting piece in the New York Post regarding NY state legislature proposing an additional USD $7bn in...

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News

Democrats push for a ‘Wealth…

March 10, 2021

The United States has never had a wealth tax. European nations have had such things, but many of repealed them...

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Rich Indians are set to…

February 13, 2021

With the more onerous tax burdens coming into play, the wealthy of India are looking for options. Many are still...

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News

Options for Wealthy Nigerians

February 10, 2021

Nigerians are increasingly looking for additional options when it comes to global travel and relocation. The most popular options are...

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Archives

US taxes set to rise

January 20, 2021

With the Democrats now controlling Congress and the Presidency, the new Biden Administration is set to fundamentally change the nature...

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US ends UBO privacy

January 8, 2021

As this year's US defence appropriations act demonstrates, there seems to be a growing international trend on the part of...

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Closure of Cyprus CIP “a…

January 2, 2021

Very nice to be featured in IMI Daily's "Ten On The Weekend".

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News

UK wealth tax

December 12, 2020

With all due respect to the BBC, the imposition of such a "one-time" wealth tax would have a disastrous impact...

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News

Argentina and taxes

December 11, 2020

Argentinians normally look to Uruguay and then the United States when thinking about tax planning. Those routes seem now insufficient,...

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UK starts to tax wealth

December 7, 2020

Like other major economies in 2020, the UK is facing a tax deficiency in light of covid-19 and the severe...

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India introduces citizenship based taxation

November 11, 2020

Like others governments facing revenue shortfalls, India has just recently introduced citizenship-based taxation. Henceforth, Indian nationals, irrespective of physical presence...

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News

Portugal to allow birthright citizenship

November 10, 2020

A very nice development in Portugal this week. Birthright citizenship will be henceforth allowed for those that are born in...

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News

Real Estate Collapse in Cyprus

October 25, 2020

As of November 1st, Cyprus will suspend its existing citizenship by investment programme. Although the benefits of such a programme...

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Archives

Structural impediments to the Cyprus…

October 20, 2020

Very nice to have my article featured in IMI Daily.  My supposition is that the Cypriot economy cannot be so...

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Global Real Estate Collapse

September 27, 2020

It seems that many in the financial industry are starting to push the notion that somehow the pending global real...

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News

“Neither fair nor helpful” –…

August 24, 2020

IMI Daily today requested my feedback to the Al Jazeera investigation of the Cyprus citizenship-by-investment program and related corruption. Although...

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Archives

Tax their obscene wealth.

August 5, 2020

With the Democrats now solidifying around a Biden-Harris ticket, the U.S. faces a real choice. Continue with the Trump-Pence paradigm...

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COIVD-19 and the pending collapse…

April 10, 2020

Arguably, COVID-19 will be a world-wide tipping point for the ushering in of a more restrictive global system, flying in...

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How COVID-19 will change the…

March 25, 2020

Epidemics are related to population mobility. COVID-19 is special in that today’s global economy is intrinsically linked to unprecedentedly prevalent...

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Cyprus amends naturalization program

November 11, 2019

The Republic of Cyprus has recently amended its Naturalization by Exception Programme. The changes become effective as of 15 May...

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Some thoughts on Austria

November 8, 2019

Austria's Ministry of Finance has recently provided some guidance on the question of an Austrian home office as it applies...

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Dividends in Austria

October 15, 2019

The Austrian tax court has recently opined on the question of dividend payments from Austria to an intermediate EU holding...

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News

Hungary vs. Google

September 20, 2019

On 12 September 2019, the advocate general of the European Court of Justice held that Hungary's advertisement tax legislation based...

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Archives

Bulgarian Transfer Pricing

August 1, 2019

On 31 July 2019, Bulgaria's parliament adopted new transfer pricing rules in line with recommendations of the OECD. The new...

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Czech Cross-Border Disclosure

March 30, 2019

Recently, the Czech government submitted to parliament a bill implementing DAC 6 on the mandatory disclosure of cross-border tax arrangements....

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Bulgaria starts again with GDPR

February 25, 2019

Towards the end of January 2019, Bulgaria's legislature adopted the EU's GDPR regulation, but was subsequently overruled by the Bulgarian...

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Amendments to the Hungarian Labour…

January 20, 2019

Hungary has recently amended its labour code in order to increase permissible overtime levels. On an annual basis, permissible overtime...

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Albania tax update

January 20, 2019

On 1 January 2019, Albania's Income Tax Act was amended with respect to imposition of new rules on the indirect...

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Serbia institutes UBO registry

January 5, 2019

As of the close of 2018, Serbia has now established its central register of ultimate beneficial owners. Henceforth, Serbian companies,...

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Austria changes its Data Protection

December 15, 2018

In early November, the Austrian Data Protection Authority issued a directive that data processing operations in all cases requires a...

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Romania changes insolvency laws

November 5, 2018

Just this past October, Government Emergency Ordinance GEO 8/2018 was published, which set out certain new amendments to Romania's insolvency...

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ESMA updates AIF disclosure requirements

October 10, 2018

On October 4, 2018, ESMA (the European Securities and Markets Authority) updated its view on the applicability Directive 2011/61/EU on alternative investment...

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Germany moves to regulate online…

September 19, 2018

Recently in August, Germany moved forward with a proposal directed against VAT avoidance relating to supplies of goods with a...

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US expands restraints on transfer…

September 8, 2018

With concerns over challenges posed by China, the US government recently introduced new measures designed to enact control over the...

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New Collective Agreements in Slovenia

September 1, 2018

Just this past August, Slovenia introduced a new collective agreement baseline for companies. The new collective agreement regulates business times...

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Monitoring Polish employees after GDPR

August 15, 2018

In the wake of GDPR, Poland has adopted a number of measures related to employee monitoring. Enshrined in the Polish...

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Bulgaria adopts changes to Public…

August 13, 2018

Bulgaria has recently adopted new appeal procedures related to public procurement. Designed to speed-up appeals and to bring an end...

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Croatia changes its capital markets…

August 10, 2018

This past July, Croatia's parliament adopted a new Capital Markets Act in order to align Croatian legislation with the EU acquis....

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Russia moves forward on countermeasures

July 24, 2018

Russia has slowly moved forward in terms of its response to a recent push by the US to levy sanctions...

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EU affects cross-border transactions

July 5, 2018

The EU has introduced new cross-border transaction reporting requirements. Recently in May, the EU quietly adopted Council Directive 2018/822/EU on...

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US puts WTO into crisis…

July 2, 2018

The US has put the WTO Appellate Body into crisis mode. Since the advent of the Trump administration, the US has...

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Hungary proposes screening of FDI

June 27, 2018

The Hungarian government has recently proposed legislative changes designed to enable regulatory screening of foreign acquisitions of certain Hungarian companies....

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Major changes to Romania’s Public…

June 22, 2018

Quite recently, a Romanian government emergency ordinance regarding certain amendments to Romania's public procurement regime ("GEO 45/2018") has been approved...

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Serbia to institute UBO law

June 11, 2018

The Serbian parliament has recently adopted a new law regarding the introduction of a central registry of ultimate beneficial owners...

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European Commission legislative update

June 6, 2018

On May 24th, the EC published proposals related to the promotion of the use of small and medium sized enterprise...

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Poland introduces debtor registry

June 4, 2018

Poland has recently introduced another public registry related to debtors. Poland is in the process of introducing the Register of...

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Bulgaria introduces GDPR

May 25, 2018

Bulgaria is set to introduce certain changes to the application of the EU General Data Protection Regulation (GDPR). Bulgaria's government...

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Cyprus adopts EU exchange of…

May 21, 2018

Cyprus has brought its domestic law inline with EU directive on mandatory automatic exchange of tax information. Cyprus has recently...

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US customer due diligence regime…

May 18, 2018

US banks have begun applying the US Treasury's new customer due diligence regime, requiring them to verify the identities of...

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Oil and gas industry strengthens

May 17, 2018

As the oil and gas industry strengthens with eyes on rising commodity prices, costs and emerging technologies, there are certain...

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Greece amends cadastral system

May 16, 2018

Greece has abolished and replaced its “National Cadastre and Mapping Agency S.A.” with a new public entity entitled the "Hellenic...

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Corporate M&A Cyprus
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M&A in Cyprus

September 9, 2017

When it comes to M&A in Cyprus, there are a number of major laws one should be aware of, as...

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A short discussion on the…

September 9, 2017

Albania performs reasonably well overall with respect to the quality of its energy (electricity and natural gas) sector. A recent...

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Republic Srpska Tax Update

August 20, 2017

The National Assembly of the Republic of Srpska (RS) adopted amendments to the Profit Tax Law on 28 December 2016....

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Belarus Tax Note

June 15, 2017

A draft law that would amend the Tax Code of the Republic of Belarus has been posted on the website...

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New amendment to the Hungarian…

September 29, 2016

The purpose of the new amendment to the Hungarian Civil Code, effective as of 1 October 2016, is to make...

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How Brexit may impact British…

September 12, 2016

One of the most popular enquiries after Brexit is how expats and people who own property in Bulgaria will be...

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The New Enforcement and Security…

August 30, 2016

Serbia’s new Enforcement and Security Act (ESA) was adopted on 18 December 2015, and has become effective as of 1...

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How to establish a limited…

August 9, 2016

A limited liability company is the most common corporate form established by foreign investors in Czech Republic. The activity is...

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The Bulgarian Supreme Court has…

July 25, 2016

Pursuant to a judgement dated 29 February 2016, the Bulgarian Supreme Court repealed Regulation no 196 of the Council of...

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Cyprus: Proposed amendment in regards…

July 14, 2016

An important amendment to the Assessment and Collection of Taxes Law (N.4/1978) in Cyprus is currently under consideration by the...

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Banking Secrecy in Cyprus

July 14, 2016

Complete bank secrecy is fast becoming a matter of the past.  The Automatic Exchange of Information (AEOI) portal provides a...

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Brexit – Potential impact on…

June 24, 2016

On the 23rd of June, the UK voted to leave the European Union. Known as “Brexit”, the UK Government with...

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Slovenia amends insolvency law

May 19, 2016

Slovenia has amended the Financial Operations, Insolvency Proceedings and Compulsory Dissolution Act, which follow on amendments in 2013, amending preventive restructuring,...

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