In this blog, you will learn the advantages of setting up an offshore company in the Marshall Islands, a reputable zero-tax jurisdiction. A Marshall Islands Company does not have the tainted ‘tax haven’ reputation that is associated with many other offshore jurisdictions. Tax Planning – Offshore Tax A Marshall Islands Company formation may be used … Continue reading Why Incorporate a Marshall Island Offshore Company
Monthly Archives: February 2018
Update: PR Application Process
Changes to the Permanent Residence Applications Process by ICA- New Electronic System On 18th December 2-17, the Immigration & Checkpoints Authority (ICA_ will implement introduce a new electronic-Permanent residence (e-PR) system. What is new? PR Applicants previously had to make a trip to ICA in order to secure an appointment and to submit their documents. … Continue reading Update: PR Application Process
US Tax Bill
The Winners, Losers and how will the Tax Cuts and Jobs Act Impact you and your business? President Donald Trump’s “big, beautiful Christmas present” to the American people came Dec. 22, when he signed into law a tax plan that will benefit business owners big and small and give individual taxpayers a slight break in … Continue reading US Tax Bill
New Work Pass Card
The Ministry of Manpower (MOM) announced on 5 September 2017 that they will be introducing a new Work Pass (WP) card with a QR code and a free SGWorkPass mobile application. The new WP card, a QR code will replace the date of expiry. MOM will be issuing the new WP card in phases, … Continue reading New Work Pass Card
Update: EntrePass Scheme
The EntrePass scheme, originally launched in 2003, is a work visa meant for foreign entrepreneurs looking to establish their business in Singapore. In early August 2017, the scheme was overhauled with further enhancements to the evaluation criteria, and the enhanced EntrePass scheme came into effect immediately. Option 1 If registered, the company must be less … Continue reading Update: EntrePass Scheme
Update: Dependant Work Pass Holders
The salary criteria for work pass holders to qualify for dependant privileges have been upgraded. Therefore if you are the main pass holder, this will enable you to upkeep dependants in Singapore. Dependant privileges allow family members to stay with foreign professionals while they work in Singapore. Your eligibility as a work pass holder for … Continue reading Update: Dependant Work Pass Holders
The BOSS Act of the British Virgin Islands (BVI)
The British Virgin Islands (BVI) has enacted the Beneficial Ownership Secure Search System Act 2017 (BOSS Act). The Act came into effect on 30 June 2017. The BOSS Act was almost immediately amended by the Beneficial Ownership Secure Search System (Amendment) Act 2017, which also came into force on 30 June. The BVI is an … Continue reading The BOSS Act of the British Virgin Islands (BVI)
The Paradise Papers- Offshore Tax Shelters
First it was the Panama Papers where the International Consortium of Investigative Journalists (ICIJ) exposed the inner workings of a Panama-based law firm, Mossack Fonseca, now it’s the Paradise Papers. The lid has well and truly been lifted on the exotic world of offshore accounting, where firms serve some of the world’s wealthiest and most … Continue reading The Paradise Papers- Offshore Tax Shelters
Inward Re-Domiciliation Regime to take Effect from 11 October 2017
To further boost Singapore’s competitiveness as a business hub, an inward re-domiciliation regime will take effect from 11 October 2017, enabling foreign corporate entities to transfer their registration to Singapore. Executive Summary; The inward re-domiciliation framework was introduced under recent amendments to the Companies Act, enabling foreign corporate entities to transfer their registration to Singapore. … Continue reading Inward Re-Domiciliation Regime to take Effect from 11 October 2017
Updates to Singapore Companies Act
Changes to the Companies Act of Singapore pursuant to the Companies (Amendment) Act 2017 The Companies (Amendment) Act 2017 (“CAA 2017”) was passed on 10 March 2017 and came into operation on 31 March 2017. The CAA 2017 introduces certain amendments to the Companies Act (Chapter 50) of Singapore (the “Companies Act”) that aim to: … Continue reading Updates to Singapore Companies Act