Golden Visa In Cyprus

In 2016, the Cypriot government revised the laws governing the Golden Visa Program, i.e., a governmental program that allows non-EU citizens who invest in the country to obtain permanent residence in Cyprus. The program aims to attract wealthy foreign citizens to the third most populous island in the Mediterranean. If the program application is approved, permanent [...]

Citizenship by Investment in Cyprus

In order to boost foreign investment and attract high net worth entrepreneurs, the government of Cyprus has introduced an incentive that allows individuals to obtain Cypriot citizenship in exchange for significant financial investments in the country. The program, which is officially called “Scheme for Naturalization of Investors in Cyprus by Exception”, grants Cypriot citizenship to non-Cypriot [...]

A report reveals the countries with lowest and highest rates of property transfer tax

The Australian accountancy association UHY Haines Norton has recently published a report indicating the countries with the highest and the lowest property transfer taxes. The association examined 26 countries, including G7 jurisdictions and the most prominent world emerging economies. The report estimates the property transfer tax rates applying to the purchase of a residential property that [...]

Gibraltar accepts bitcoin as a trading currency

What is bitcoin? Bitcoin is a virtual currency. In comparison with traditional currencies, bitcoin is not controlled by any central authority (e.g., a central bank). New bitcoins are generated by a decentralized process called mining. It involves the processing of bitcoin transactions by using specialized hardware.People who would like to start generating bitcoin have to use [...]

Offshore firms own 40.000 properties in London

A research conducted by the British newspaper The Guardian demonstrates that the offshore ownership of properties in London has increased with 9% over the last 10 months. At present, companies registered in tax havens, such as Panama, Liechtenstein, Cayman Islands, and the British Virgin Islands, own around 40.000 commercial and residential buildings in Greater London. The [...]

Silent Partnerships in Macedonia

Macedonia offers numerous opportunities to international business investors. In addition to low tax environment, governmental incentives for companies operating in high-tech sector, and other corporate benefits, Macedonian law allows the formation of silent partnerships. The opportunity to become a silent partner may be of interest to persons who would like to receive income without the need [...]

Taxation in Georgia

Georgia, a country in the Caucasus region, is located on a crossroad between European and Asian markets. Due to Georgia’s business advantages, such as a low-cost workforce, a stable political environment, an attractive tax regime, and a well-developed infrastructure, an increasing number of foreign investors choose to outsource their business activities in Georgia. Moreover, in order [...]

Free zone JAFZA expands significantly

Jebel Ali Free Zone (JAFZA) is one of the leading free trade zones in Dubai. JAFZA specializes in providing industrial and logistics solutions to businesses operating in the UAE and internationally. At present, JAFZA accommodates about 7.000 active companies, including a large number of companies that are added to the Fortune Global 500 (an annual ranking [...]

Macedonia has the lowest tax rate in the world

The World Economic Forum (WEF) released the Global Competitiveness Report 2015-2016. The report identifies the competitiveness index of 140 jurisdictions. The competitiveness index is calculated on the basis of various variables, including the total tax rate. The total tax rate measures the amount of taxes and mandatory contributions which should be paid by a business in [...]

Private Austrian Foundations

The Austrian private foundation is a type of legal entity which allows the grantor to determine the internal organization and the aim of the entity. Although most aspects of private foundations resemble those of limited companies, Austrian private foundations provide grantors with a greater flexibility to:(1) protect and maintain assets, (2) tailor the foundation according to [...]