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Wednesday 10/3/2010
IO
News: US Wants Maximum Jail-Time For Petters
Prosecutors for the United States government are urging US District Judge
Richard Kyle to give convicted investment fraudster, Thomas Petters,
the maximum jail sentence possible - 335 years - for perpetrating a
USD3.65bn fraud scheme.
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Tuesday 9/3/2010
IO
News: Hong Kong Makes Hay Secretary for Financial Services and the Treasury Professor KC
Chan said in New York at the weekend that Hong Kong's favourable
policies for the offshore fund industry
reinforces its position as Asia's premier asset management centre.
Monday 8/3/2010
IO
News: CESR Seeks Shorting Restrictions In a report submitted as technical advice to European institutions, the Committee of European Securities Regulators has recommended the introduction of a pan-European disclosure regime for net short positions in shares.
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Dubai - A
Stately Business Dome Decreed
February 2010
For decades to come, people will point to
Dubai's 200-storey, 828-metre Burj Khalifa tower,
the tallest in the world, as representing both
the peak and the nadir of the city-state's adventurous
grasp for regional leadership in a startling range
of sectors: real estate, shipping, commodities
trading, equities, Islamic finance, e-commerce,
air transport and banking...
Read: Dubai
- A Stately Business Dome Decreed
Hedge Funds
Resurgent February
2010
Hedge funds often boast that their investment
strategies flatten out the more extreme gyrations
of the markets; but they weren't proof to the
financial tempests of 2008 and 2009, although
recent figures for 2009 show that the industry
as a whole has largely recovered its poise...
Read: Hedge
Funds Resurgent
Being An Expat In 2010
- A Financial Primer
January 2010
As you'll see from our guide, the offshore
options for you as an expatriate are many and
varied, and there is something for any situation
and pocket...
Read: Being
An Expat In 2010 - A Financial Primer
Jurisdiction Special Focus:
Cyprus January
2010
In this feature we take a fresh look at Cyprus
and whether it is a good destination for your
assets, career expats and Retirees...
Read: Jurisdiction
Special Focus: Cyprus
Health & Life... Worldwide
- Global Insurance For Expats
January 2010
Insurance is one of those things that everyone
hopes they'll never need, and as a result, a frightening
number choose to bury their heads in the sand,
hoping that their luck will hold. However, by
far the most sensible solution for those not willing
to trust to fate, is to take out some form of
insurance, to protect themselves and their dependants
should the worst happen...
Read: Health
& Life... Worldwide - Global Insurance For
Expats
Choosing Your Jurisdiction
January
2010
So you have decided that offshore is the
way forward. The three most pressing concerns,
then, are what type of investment you feel is
right for you, where you choose to invest or bank,
and how involved you are prepared to be in offshore
life...
Read: Part
One - Types Of Offshore Investment Vehicle And
The Main Jurisdictions
Read: Part
Two - Getting It And Keeping It. The How, Why,
When And Where Of Offshore Investing.
The EU Savings Tax Directive:
Cometh The Hour, Cometh The Man?
December 2009
We take a look at the current state of the
EU's Savings Tax Directive, examining how it will
affect investors both now and in the future.
Read: The
EU Savings Tax Directive: Cometh The Hour, Cometh
The Man?
Jurisdiction
Special Focus: Gibraltar November
2009
In the final analysis, is Gibraltar a good location for your assets,
yourself, your family, your boat, or (e) all of the above? Our guide
reveals that it could be just what you're looking for.
Read: Gibraltar,
The Rock, 2009
QROPS - Qualified Recognized
Overseas Pension Schemes November
2009
Find out if you can benefit from a QROPS, where can you take a QROPS,
and what the mechanics are.
Read: QROPS
- Qualified Recognized Overseas Pension Schemes
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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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| Network News |
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10/3 Guernsey Funds Value Increases End of year figures released on March 8, by Guernsey Finance, the promotional
agency for the island’s finance industry, show that the value of investment
funds in Guernsey increased by GBP2.7bn (1.5%) during the final three months
of last year.
10/3 India To Expand TIEA Network India’s Prime Minister, Manmohan Singh, has announced his intention to expand
the country’s Tax Information Exchange Agreement network, starting with
Bahamas and Bermuda, with whom India has already agreed the text of an agreement.
10/3 New UK Trust Law Brings Greater Flexibility UK law firm, Boodle Hatfield, has observed that new trust legislation, due
to enter into force on April 6, will allow those looking to establish new trusts
greater flexibility.
9/3 Jersey To Showcase Island In UAE As part of Jersey’s aim to promote the island to new markets, Jersey Finance
will visit Abu Dhabi and Dubai next week to promote the benefits of using Jersey
for structuring transactions and for the management of private wealth.
9/3 DFSA Signs MoU With French Regulator Dubai’s Financial Services Authority on March 5 signed a Memorandum of Understanding
with the Autorité des marchés financiers of France, the French
securities regulator.
9/3 St Kitts And Nevis Nears White List The Caribbean federation of St Kitts and Nevis signed its tenth Tax Information
Exchange Agreement with Australia at a ceremony on March 5.
8/3 BVCA Releases Budget Submission In a submission to the UK government ahead of the budget, the British Venture Capital Association has welcomed efforts to facilitate the development the growth and development of small businesses, but has argued that further action could be taken in this area without imposing additional cost.
9/3 Guernsey Releases Bank Deposit Figures Guernsey’s banking sector is in a more positive position than the continuing
decline in deposit levels might suggest, according the head of the promotional
agency for the Island’s finance industry.
9/3 IoM Company Fees To Rise The Isle of Man government has provided details of changes, announced in the
February budget, to company registration rules, including increases to certain company fees.
9/3 Caribbean Explores Fiscal Cooperation Ahead of the World Bank meeting, to be held on March 11-12, where CARICOM Finance
Ministers will meet to discuss challenges that the region faces, CARICOM Secretary
General, Edwin Carrington said it was vital for Caribbean economies to increase economic cooperation and remove fiscal barriers, for the prosperity of the region going forward.
9/3 Germany Debates Stolen Data Law According to legal experts from both the Christian Democratic Union and
the Free Democratic Party, a law must be drawn up in order to prohibit the
purchase of stolen tax data discs.
8/3 Australia, San Marino Sign TIEA Australia’s Assistant Treasurer, Nick Sherry, on March 5 announced the
signing of a Tax Information Exchange Agreement with San Marino, which will
allow for the exchange of taxpayer information between the two countries’
tax authorities.
8/3 Demand Grows For Tax Transparent Vehicles There has been steady growth in popularity of tax transparent pooling vehicles across the investment community in recent years, as investors embrace these vehicles to facilitate economies of scale, efficiency and improved performance, according to BNY Mellon.
8/3 Switzerland Postpones UBS Inquiry Switzerland’s Council of States has elected to postpone the setting up of
a special commission to investigate the UBS case, sparking outrage from the country’s
lower chamber of parliament.
8/3 Hong Kong To Shed Light On 'Dark Pools' The Hong Kong Securities and Futures Commission is monitoring the operation of ten 'dark
pools' - facilities allowing securities transactions to occur outside traditional exchanges - which it has become concerned about.
8/3 German U-Turn On Tax Data Disc In a dramatic about-turn, the German government has made known its intention
to press ahead with the purchase of the tax data disc offered to federal state
Baden-Württemberg.
5/3 DME Sees Record Trading The Dubai Mercantile Exchange announced on March 4 that a new record total open
interest of 19,867 was achieved in its flagship DME Oman Crude Oil Futures Contract in February 2010.
5/3 Cayman Economy Struggles The Cayman Islands Economics and Statistics Office has released its Economic
Report for the Third Quarter of 2009, showing further deterioration in the island’s economy
in all but the banking sector.
5/3 Judge Slams ATO Tax Rulings During a speech to the annual convention of the Taxation Institute of Australia,
Richard Edmonds, a judge of the Federal Court specializing in tax affairs, has
strongly criticized the law central to the recent draft rulings by the Australian
Taxation Office on the tax treatment of private equity investments by foreign
investors.
5/3 Bahamas Enhances Business Environment In his mid-year budget presentation to Parliament, Bahamas Prime Minister Hubert Ingraham addressed
improving the business environment, touching specifically on the streamlining
of the regulation of the financial services sector.
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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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| 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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| 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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