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Thursday 2/9/2010
IO
News: China's First Hedge Fund Ready For Launch
E Fund Management is set to launch China's first hedge fund following a change in securities regulations earlier this year allowing investment managers to trade stock index futures on behalf of clients.
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Wednesday 1/9/2010
IO
News: NYSE Euronext Completes Data Migration NYSE Euronext has announced that its US data center in Mahwah, New Jersey, has successfully completed the migration of more than 4,500 equities issues listed on the New York Stock Exchange and NYSE Amex.
Wednesday 1/9/2010
IO
News: Private Equity Real Estate Fund Raising Hits Historic Low The second quarter of 2010 saw 20 private equity real estate funds raise an aggregate USD7.3bn, the lowest quarterly fundraising total since Q3
2004, according to new research.
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Jurisdiction Special Focus: Antigua and Barbuda
August 2010
In common with many of its Caribbean neighbours, Antigua & Barbuda, the subject
of this Investors Offshore jurisdiction focus, is probably a location
more synonymous with the upmarket end of the tourist trade than as a place
in which to invest. Whilst tourism is indeed an important part of the
nation's economy, a notable offshore financial industry has in fact been
developed by government over the last two decades, helped along by some
generous business and personal tax incentives, the major aspects of which
we will attempt to cover here.
Read:
Jurisdiction Special Focus: Antigua and Barbuda
Islamic Finance
- The New Mainstream Alternative
August 2010
Although the Islamic finance
sector suffered along with other investment sectors
during the credit crunch of 2008 and 2009, its
long-term future seems assured. Rushdi Siddiqui,
Global Head of Islamic Finance at Thomson Reuters,
told participants at the Middle East, North Africa
and South Asia (MENESA) Forum on ‘The Challenges
Ahead for Islamic Finance’ in May that Islamic
Finance is on a firm footing to become a USD2
trillion industry in the next half decade. “It
took the Islamic Finance industry 40 years to
become a USD1 trillion industry. It will take
another two to five years to become a USD2 trillion
industry,” he said.
Read:
Islamic Finance - The New Mainstream Alternative
St Vincent &
The Grenadines
July 2010
Whilst the Caribbean state
of St Vincent and the Grenadines is probably best
known as a tourist destination and hideaway for
the well-heeled (Princess Margaret had a holiday
home on Mustique for many years and Mick Jagger,
who still has a home there, is a regular visitor),
the former British colony is also emerging as
a well governed and regulated financial jurisdiction
to rival the more prominent offshore finance centres
in the region.
Read:
St Vincent & The Grenadines
Online Trading
For Expats
July 2010
For the domestic investor,
the choice of online brokers seems almost endless;
for the expat, whose somewhat unusual situation
allows for a greater flexibility of investment
choice and possible advantages in terms of taxation,
the choice seems to be less broad, but is growing
by the minute, as onshore brokerages recognise
the potential of the expanding 'globetrotting'
mass affluent market, and offshore brokers recognise
the need to provide their clients with up-to-the-minute
facilities.
Read:
Online Trading For Expats
Singapore - Another
Hong Kong?
June 2010
Located in South East Asia,
Singapore is a highly developed and successful
free market economy which enjoys an open and corruption-free
environment, stable prices, a low tax regime and
a per capita GDP equal to that of most parts of
Western Europe.
Read: Singapore
- Another Hong Kong?
International
Retirement Planning
June 2010
Survey after survey shows that ever-increasing
numbers of people have active plans to leave their
home countries either to work or to retire abroad.
A survey carried out by Currency UK shortly before
the May, 2010 election found that an astonishing
75% of people had considered or were considering
a move abroad. Year on year, therefore, the total
global population of expatriates goes up by leaps
and bounds, and one of their major preoccupations
is of course the question of retirement provision.
HSBC's Expat Explorer 2009 survey found that expats
are tending to save more, perhaps in response
to uncertain economic conditions.
Read: International
Retirement Planning
House Prices:
What Next?
May 2010
Three years ago, as the house price boom
continued in many countries across the world,
we asked whether the laws of economics had been
repealed. Now, we can see that they remain as
true as ever. The air leaked rapidly from the
global housing bubble. Beginning with the US,
as has been demonstrated time and again with deflating
asset bubbles, a wave of price falls spread around
the world, attacking in turn each of the countries
which had seen particularly aggressive house price
rises.
Read: House
Prices: What Next?
Panama -
Not Just A Pretty Canal!
April 2010
Ask most people around the world their thoughts
on Panama and you would probably be met with the
same one word reply: canal. However, after a small
amount of further investigation you would find
that this country at the gateway of Central and
South America certainly isn't as one dimensional
as that. Aided by more stable, pro-business governments
using the invaluable canal as a catalyst, Panama's
friendly tax and regulation system has helped
to established the country as one of the most
modern and respectable business and financial
centres outside the established 'onshore' countries,
and ranks as probably the most important trading
and business hub in the region...
Read: Panama
- Not Just A Pretty Canal
Alternative
Investment:
Non-Financial Alternative Investments
April 2010
The ideal tax shelter traditionally turned
income into capital without taxation. Such mythical
beasts used to exist in no-tax offshore jurisdictions,
but they were not usually to be found in high-tax
countries, and when sighted were rapidly hunted
down by heavily armed tax inspectors...
Read: Alternative
Investment: Non-Financial Alternative Investments
Jurisdiction
Special Focus: Hong Kong
March 2010
In geographical terms, the peninsula and
collection of islands in south eastern China which
make up the territory of Hong Kong are a little
over 400 square miles in size, but in economic
terms, the former British colony, which in 1997
was handed back to greater China, packs a serious
punch on the world stage and can claim to be the
globe’s third largest financial centre after
New York and London, and the ninth largest economy
in the world...
Read: Jurisdiction
Special Focus: Hong Kong
Personal Equity Investment In 2010:
Not Just For Expats... March
2010
Under this particular heading of equity investment we will deal with
direct, personal investment into publicly-quoted equities, other than
through conventional stock exchanges, whether from an onshore or offshore
base, and whether by an individual, or through a corporate vehicle or
a trust. We will cover direct equity purchase through a dealer, spread
betting, contracts for differences, and hedge funds insofar as they specialize
in very directed equity investment...
Read: Personal
Equity Investment In 2010: Not Just For Expats...
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International Privacy and Security for 21st Century Global Citizens
September 2010
In a world in which privacy and security,
whether personal or financial, are under ever greater threat, expatriates
and globetrotters face major challenges in the 21st century. Although
international mobility brings unique opportunities, it can also
sometimes bring unique problems, and in this month's special feature
we will be looking at services which can help you to protect your
privacy both online and off, and measures that you can take to protect
yourself against the multiplicity of threats to your security.
Read:
International Privacy and Security for 21st Century Global Citizens
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| Network News |
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2/9 DIFC Announces Strong Growth In 2010 Despite the economic downturn, the Dubai international Financial Centre is continuing to attract companies form all over the world, especially from Asia.
2/9 IRS Loses Revenue From Foreign Income Claims According to a report released by the United States Treasury Inspector General for Tax Administration, the Internal Revenue Service lost an estimated USD90m in revenue
in the 2008 tax year because of erroneously claimed foreign earned income tax
exclusions.
2/9 Landmark Nasdaq Listing For Mauritius Firm Leading Indian online travel company, MakeMyTrip Limited has undertaken a USD70m
Initial Public Offering on the Nasdaq Global Market, making it the first Mauritius-incorporated
company to list on a major New York stock exchange.
2/9 Hong Kong, Russia Consider DTA Hong Kong’s Chief Executive, Donald Tsang, in Moscow for a three-day visit, met
with various members of the Russian government, including President Dmitry Medvedev,
as well as business leaders to carry forward a growing bilateral dialogue on finance,
taxation and investment matters.
2/9 SEC Cautions Credit Rating Agencies The United States Securities and Exchange Commission has issued a
report cautioning credit rating agencies about their ratings conduct and the importance
of sufficient internal controls over the policies, procedures, and methodologies
the firms use to determine credit ratings.
2/9 Obama's Tax Reform Panel Issues Report The US President’s Economic Recovery Advisory Board,
chaired by for Federal Reserve Chairman Paul A. Volcker, has issued a report on options for changes in the
current tax system to achieve three broad goals: simplifying the tax system; improving
taxpayer compliance with existing tax laws; and reforming the corporate tax system.
2/9 IRS Issues Guidance On FATCA The United States Treasury and the Internal Revenue Service have stated
their intent to issue guidance on the reporting requirements imposed on foreign
financial institutions by the enactment of the Foreign Account Tax Compliance
Act on March 18, 2010 within the Hiring Incentives to Restore Employment Act.
2/9 UAE Nears Completion Of New Companies Law The United Arab Emirates’ Minister for the Economy, Sultan Bin Saeed Al Mansouri has told business leaders that the comprehensive rewrite of companies legislation is in its final stages.
2/9 Jersey Foundations Attract Growing Interest Just over a year since they were launched, Jersey Foundation structures are continuing to receive a steady flow of interest, according to an offshore legal expert.
2/9 EC Consults On Cross-Border IHT Issues The European Commission has announced the launch of a consultation on tackling
cross-border inheritance tax obstacles within the European Union.
1/9 Singapore Attempts To Rein In Property Market Amidst fears that the property market could be overheating, Singapore’s
government has announced immediate measures aimed at maintaining price stability,
while also saying that it will continue to monitor the situation closely and will
introduce additional measures if required later.
1/9 Jersey's Corporate Tax Consultation Extended An extension has been announced to the consultation period in respect of the review of Jersey’s 0/10% business tax regime.
1/9 India, Switzerland Sign Tax Information Exchange Accord Swiss federal councillor and foreign minister, Micheline Calmy-Rey, has met with Indian finance minister Pranab Mukherjee in New Delhi to sign a protocol to revise the two countries’ double taxation agreement.
1/9 Indian Cabinet Approves Lowering Of Direct Taxes The Indian Cabinet has given the go ahead for the Direct Taxes Code Bill, which will simplify and rationalize both corporate and personal income taxes.
1/9 HK Releases Consultation Results On Draft Companies Bill Hong Kong’s government, releasing the conclusions of the first phase of
consultation on the draft of the Companies Bill, has said that it is prepared
to adopt a number of proposals regarding the issues highlighted for consultation.
31/8 Zurich Insurance, SocGen Fall Foul Of The UK FSA The Financial Services Authority has announced the imposition of a record
fine, of GBP2,275,000, on the UK branch of Zurich Insurance Plc (Zurich UK)
for failing to have adequate systems and controls in place to prevent the loss
of customers’ confidential information. The fine is the highest levied
to date on a single firm for data security failings.
31/8 Goldman Tries 'Foreign-Cubed' Defence Against Hedge Fund The investment bank, Goldman Sachs, is attempting to use a US Supreme Court’s
previous ruling on so-called ‘foreign-cubed’ securities cases to have
an Australian hedge fund’s USD1bn claim thrown out of the American courts.
31/8 Netherlands, Japan Sign Tax Treaty On August 25, 2010, a new tax treaty between the Netherlands and Japan was signed in Tokyo.
30/8 Islands Seek Leadership For Brussels Office The Channel Islands, Guernsey and Jersey, have announced that they are seeking
to recruit high-calibre representatives for the roles of 'Director of
European Affairs' and 'European Affairs Adviser' for the soon-to-be-opened
Channel Islands’ Brussels office.
31/8 Personal Tax Proposals Disliked By Jersey Businesses Those working within Jersey’s finance industry would prefer greater cuts
in public spending before increases to personal taxes are considered, according
to a Jersey Finance survey.
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| Your Views |
| Best offshore banking country? |
Hi,
I live and pay tax in the UK. I have non-salary remuneration coming to me from freelance work from other countries. Can anyone recomend a good international bank account that offers visa or mastercard debit, in a jurisdiction that is safe from the savings tax directive or other reporting duty involving the UK? Ideally the account would offer decent interest too, and no tax on this interest! It would also be good if it could be managed online.
Just to be clear, I fully intend to fulfil my duty to the UK tax authorities, and declare this income. I simply have no faith in the UK banking system and its relationship with the UK government, or their Indian call centres. I also intend to travel and emigrate once I have a decent purse.
Thanks for any help or suggestions. Simon |
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| US resident seeking...not to be! |
I'm a US resident seeking to terminate my residence in the next coupe of years - thinking of moving to sunnier shores. Anyone got any recommendations (young, free and single and moderately independently wealthy, if it helps!)
Also, how long will my association (for tax purposes) with the US last? Please tell me not forever...!Rick |
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| Health care package |
| I've been offered a position at my current UK employer's associate company in Dubai for 2 years. The package looks quite good but as this is my first overseas/expat experience I'm not sure if the healthcare portion is okay. My wife and our two young kids will be with me and the package only appears to include 75% basic cover with me having to top it up. Is this a standard sort of deal?angus |
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13/07 
