Lawyer's Blogs

Main advantages The main goal to acquire the citizenship of Malta and the associated benefits depend on the plans of each individual investor. However, in most cases, such goals and benefits include: Acquisition of citizenship in a stable EU member state; Access to all investment opportunities in Malta and the European Union; Access to the Schengen area; Visa-free entry to more than 160 countries, including the United States; Advantages of tax planning; Stable political system; Access to quality training and education programs. Requirements for candidates: The main applicant must be at least 18 years old; The applicant must be a resident of Malta for at least 12 months preceding the issuance of the certificate of naturalization; The applicant is demanded to contribute to the economic development of Malta by paying a non-refundable contribution to the Malta National Development and Social Fund; The applicant must, within four months from the receipt of the prior Letter of Approval in Principle, give a proof of the availability of a Global Health Insurance of at least € 50,000 for the main applicant and each dependent, as well as confirmation that they will have this...

The issue of protection of the economic interests of beneficiaries has got a new development in connection with the introduction of the automatic tax information exchange system (OECD CRS), as well as extremely high probability of fast signing of the corresponding document by CIS countries. The variant for solving the problem of protection of the economic interests of beneficiaries may be the use of free economic zones (FEZ). So, the UAE does not disclose the beneficiaries of resident companies, they do not provide data on their residents. The lack of exchange of tax data is due to the absence of the tax service as such. In addition, the Emirates differ with stability and have all the tools for doing business. The most understandable and reliable solution for obtaining a resident visa in the UAE is the establishment of a company in one of the Free Economic Zones of the Emirates and obtaining a resident visa through the status of an investor, i.e. the owner or co-owner of the company. Resident investor visa is not just a permit to live in the UAE, such a visa also gives a foreigner the right to study, do business, buy and rent housing in the Emirates. In addition, one of the...

Fintech sector is developing with seven leap steps now, offering great opportunities, as well as a high level of reliability and confidentiality. Online payment system is a fast and reliable way of receiving and transferring money through the Internet, making payments on contracts, withdrawing funds to cards, etc. Moreover, international payment systems (PS) enable you to open corporate and personal accounts with unique IBAN, make SWIFT and SEPA payments, while the procedure for opening an account is faster - up to 5 days, the KYC procedure is easier than in the bank. Another advantage is that the payment systems work with VISA, Mastercard, American express, etc. At the same time, the requirements of the banks for verification and identification of customers are constantly growing, banks stop servicing customers from classical offshore zones, moreover, the availability of registration in positive jurisdiction also does not guarantee that the bank will not close an account or it will not check each transaction thoroughly. Advantages and disadvantages of international payment systems (PS) Most of the PS issue their VISA, Mastercard cards or white-lable cards, which allow the...

The legislative body of Singapore has approved a number of amendments and additions to the Income Tax Bill of 2017 (Income Tax Bill 2017). The specified changes involve a substantially changed approach to the policy of income taxation. It should be noted that during the discussion of this package of changes in the parliament, Minister of State for Finance of Singapore stated that a significant reduction in corporate tax would be achieved by raising the minimum taxable amount from 20,000 Singapore dollars (approximately 14,753 USD) to 25,000 Singapore dollars (approximately 18 441 USD). However, there will be no change in percentage terms, and the relaxation will remain at the level of 50%. At the same time, starting in 2018, the amount of relaxation will be 20% of the tax payable at an income of 10,000 Singapore dollars (approximately $ 7,376). Minister of Finance of Singapore also stressed that this package of changes would help companies overcome economic uncertainty and continue their restructuring. In addition, starting in 2018, a taxpayer will be able to claim a tax deduction for the full amount of payments that were made in accordance with the agreements on the distribution...

It is well-known that from July 1, 2017, taxpayers have faced significant problems related to suspension of the registration of tax invoices. Before launching the system of "blocking" of tax invoices, the Ministry of Finance of Ukraine stated that the problem of suspension of the registration of tax invoices for manufacturers, service providers, and agricultural producers would be solved by submitting data in the established form of the so-called "technological table". However, in practice everything turned out to be completely different, and therefore these categories of enterprises are forced to file notice constantly, explanations and a "technological table" for each suspended tax invoice. That is, the promises of the Ministry of Finance of Ukraine were not kept, which caused quite justified discontent among small and medium businesses. The Ministry of Finance is trying to rectify the situation by amending paragraph 3 of the "Criteria for assessing the risk degree sufficient to suspend the registration of the tax invoice/adjustment calculation in the Unified Register of Tax Invoices" approved by Order No.567 of 13.06.2017 (hereinafter - the Criteria). The amendments to the...

It is known that the procedural codes of Ukraine contain provisions that establish the right of the parties to judicial proceedings (and in some cases, also other persons) to appeal against judgments. In most cases, the procedural codes contain a specific list of court decisions that are subject to appeal. However, they also contain provisions limiting the right to appeal against a number of court decisions. In other words, not all judgements are subject to immediate appeal (Article 392 of the Code of Criminal Procedure, Article 293 of the CCP, Article 185 of the CACS, Article 106 of the CEP). Article 8 of the Constitution of Ukraine provides that "the Constitution of Ukraine has the highest legal force. Laws and other normative legal acts are adopted on the basis of the Constitution of Ukraine and must comply with it". In accordance with the paragraph 8 of part 2 of Art. 129 of the Constitution of Ukraine, one of the main principles of the proceedings was "the provision of statutory and cassation appeal of a court decision, except for the cases established by law". In this regard, the provisions of the procedural codes on the limitation of the right to appeal a number of court...