Focus Europe

Europeans abroad beware! Inheritance Laws will be EU-regulated from 2015.

(Dubai & Berlin, 30/09/2014) The increasing “European-ization” of all areas will now also make no longer halt before inheritance. At least, once international background is concerned. The main changes with validity for successions from 17/08/2015 – an overview. On 17/08/2012 already, the new European Inheritance Regulation (Regulation EU No. 650/2012) entered into force across the […]

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) […]

Europe 2013: Bi-lateral agreement of information exchange dropped – „Europeization“ of German reverse onus

(Berlin, 20/12/2012) On January 1st, 2013, the EU Directive 2011/16/EU gets in force for all EU Member States. It regulates the administrative cooperation in the field of taxation and means in practice: EU-wide information sharing, EU-wide authorization for tax audit authorities, EU-wide delivery of administrative acts and EU-wide repeal of bank secrecy. In particular, especially from German view […]

UK Property Taxes Update

(Dubai, 16/12/2012) The UK, and in particular London, has become a safe haven for foreigners in recent years, many of who – especially from Middle East / GCC Countries – have invested in expensive central London real estate. Please find below an update on the taxation of UK properties.   Annual Residential Property Tax, Capital […]

Guernsey, Jersey & Isle of Man to strike FATCA deals with US

(Dubai, 11/10/2012) The governments of Guernsey, Jersey and the Isle of Man have simultaneously announced that they are seeking to negotiate partnership agreements with the United States to implement the Foreign Account Tax Compliance Act (FATCA). The intention is that the three British Crown Dependencies will negotiate their own individual agreements which will follow the […]

MCI Overview Flat Tax Countries Europe

(03/08/2012, Dubai) Starting in the middle of the 90ies, many, mostly in Eastern Europe located, countries modified their tax regimes with the introduction of flat faxes. Their aims are and have been: Ease of procedures, reduction of tax & capital evasion, stimulation of economic growth. Here the results of MCI CLT's Tax Rate Review in […]

Singapore may surpass Switzerland as largest OFC by 2015

(31/01/2012, Singapore) Singapore, which has the world's highest density of wealthy people, had just over 150,000 high-net-worth individuals (HNWIs), each worth more than US$ 1 million, by the end of last year, according to new figures. A forecast by financial consultant Wealth Insight predicts that these individuals will prove key in the expansion of Asia's […]

UK Tax Unit to target Middle East Property Owners

The UK government has set up a 200-member team of taxation investigators, known as the ‘affluent unit’, which will target those who own properties overseas and have not declared them for tax purposes. During the boom era, thousands of British investors bought holiday homes and investment properties, mainly in Dubai and Egypt. There will be […]

Switzerland freezes accounts of German customers

The recently completed tax treaty between Switzerland and Germany has the following key points:Swiss banks make a 2bn SFR guarantee payment to the German tax authorities.Income of German assets in Switzerland will be taxed in future on-site with 26,325%. Swiss banks will transfer these tax amounts directly to the German tax authorities.For income of so-called […]

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\r\n (Dubai, 20/10/2014) In August 2014 already, the “so much to UAE committed” foreign bank Standard Chartered announced to exit parts of its SME business in the federat...
\r\n (Dubai & Berlin, 30/09/2014) The increasing “European-ization” of all areas will now also make no longer halt before inheritance. At least, once international ba...
\r\n (Dubai, 04/09/2014) This week the World Economic Forum (WEF) published the results of its annual Global Competitiveness Report (GCR) 2014-2015 with impressive rankings for the U...
\r\n (Dubai, 30/08/2014) Since June/July this year, licensees of Dubai’s DMCC start to rub their eyes when it comes to their annual license renewal. Out of the blue, the Free Z...
\r\n (Dubai, 08/08/2014) MCI offers actually several Shelf Companies, aged between 2yrs, 10mths and 6yrs, 1mth - as per August 2014.\r\n\r\n\r\n\r\n \r\n \r\n \r\n DESCRIPTION\r\n \r\n \r\n ...
\r\n (Hong Kong, 2014-07-27) This month, the first revision of Shanghai Free Trade Zone’s (FTZ) Negative List took place.\r\n\r\n\r\n\r\n Shanghai Free Trade Zone (FTZ) was launched in...
\r\n (Dubai, 14/07/2014) The UAE Ministry of Labour (MOL) has announced that it will stop the usage of the old plastic labour cards & paper contracts starting from July 13, 2014....
\r\n (Hong Kong, 25-06-2014) We found a very interesting BBC documentary about China's debt policy and situation from February 2014, critical as well (of course). But watch yours...
\r\n (Dubai, 13/04/2014) With effect 01/05/2014, Emirates NBD massively increases the required Minimum Balances for its Business Banking Clients.\r\n\r\n\r\n\r\n Emirates NBD, one of UAE'...
\r\n (Dubai, 26/03/2014) Finally, Virtual Currency (VC) Tax Rules - including the most popular, Bitcoin - came to the US on March 25! Several insiders predicted that the government w...

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