Hong Kong and USA Work Toward FATCA IGA

(Hong Kong, 2014-03-26) On March 25, Hong Kong and the United States signed a Tax Information Exchange Agreement (TIEA), which will provide the necessary basis for Hong Kong to enter into an Intergovernmental Agreement (IGA) to adhere to the United States' Foreign Account Tax Compliance Act (FATCA). Hong Kong's Secretary for Financial Services and the […]

Presenting the #1 Financial Haven for Dictators and Criminals

(Dubai, 26/02/2014) Pop quiz: When really nasty criminals and dictators want to hide their illicit gains, which country do they go to? We'll make this easy for you, multiple choice: A) Switzerland B) British Virgin Islands C) Hong Kong With all the drama, history and stigma surrounding Switzerland, most people would choose (A). Yet over […]

MCI wishes a Happy New Year

We wish you all a healthy, happy, peaceful and prosperous 2014! Thanks for 2013 – the team of MCI Counselors Law & Tax Group.

MCI wishes Merry Christmas 2013

It's not the glow you feel when snow appears It's not the Christmas card You've sent for years Not the joyful sound when sleigh bells ring Or the merry songs, children sing The little gift you send on Christmas day Will not bring back the friend You've turned away So may I suggest, the secret […]

Pepe Escobar – The birth of the ‚de-Americanized‘ world

(Hong Kong, 2013-10-19) Pepe Escobar is the author of "Globalistan: How the Globalized World is Dissolving into Liquid War", "Red Zone Blues: A snapshot of Baghdad during the surge" and "Obama does Globalistan". Pepe supplies freqeuntly his own collumn "The Roving Eye" in Asia Times Online. 2013-10-15 – This is it. China has had enough. […]

Now the Chinese are wagging their fingers at Obama

(Chile, 07/10/2013 – Guest Comment from Simon Black) "Diminishing Superpower" – This was the headline streaking across the weekend edition of the Jakarta Globe, one of the largest newspapers in Indonesia. The photo beneath was of Barack Obama, his lips pursed and eyes steeled as if he was fighting back tears. Or perhaps staring off […]

FATCA – UAE on proper path to sign as well

(Dubai, 08/09/2013) According to various publications and press releases of the UAE Central Bank, the bi-lateral signing of Foreign Accounts Tax Compliance Act (FATCA) between the U.S. and UAE can be expected before the end of 2013. The Governor of the UAE Central Bank, H.E. Sultan Bin Nasser Al Suwaidi, stressed already in March 2013 […]

DFSA Signs 26 Agreements with EU Regulators

(Dubai, 08/09/2013) In July 2013, the Dubai Financial Services Authority (DFSA) as independent financial services regulator for the Dubai International Financial Centre (DIFC) announced the signing of a total of 26 supervisory co-operation agreements with EU & EEA securities regulators. Continuous collaboration with international regulators has been at the forefront of the Dubai Financial Services […]

Shanghai FTZ Attracts World Attention

(MCI CLT Zhejiang, 2013-09-02) Shanghai phenomenally succeeded as China Mainland’s first Municipality with its 28.78 km² huge Shanghai FTZ (Free Trade Zone), last week finally enabled by the Standing Committee of the National People's Congress, China’s top legislative body. This is the result of Shanghai’s nearly 12 years ongoing piloting efforts against multiple resistance: Starting […]

FATCA: Malta And US Conclude FATCA Negotiations

(Monaco, 22/07/2013) Malta and the US have concluded negotiations concerning an Intergovernmental Agreement (IGA) in relation to US FATCA regulations (FATCA). FATCA was enacted in 2010 by the US Congress as part of the Hiring Incentives to Restore Employment (HIRE) Act. FATCA requires non-US financial institutions to report to the US Internal Revenue Service (IRS) […]

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