Posted in Events, Offshore Business, Offshore Company Administration, Offshore Incorporation, Uncategorized by Admin on December 3rd, 2009
San Marino is now on the OECD’s white list! But where is San Marino? Why is San Marino coming to this part of the world?
Briefly speaking:
San Marino situated in central Italy, 15 km from the Romagna Riviera. Each year the San Marino is visited by millions of tourists from Italy and from all over the world. Most visitors stay in hotels on the nearby Riviera: Rimini, Riccione, Cattolica, Milano Marittima and Cesenatico. Its legal and administrative systems form the basis of the most widespread form of government worldwide; namely, a democracy.
From the economy point of view, an interesting feature of the San Marino economic system is its fiscal policy. With the introduction of a fiscal policy in support of companies, the Republic of San Marino has, in fact, encouraged the development of its economy. The system contemplates direct taxation (IGRL and IGRP) and an indirect (single-phase) taxation. (http://www.sanmarinosite.com/).
For answers to the above question, some of us had been privileged to be invited for an informal chat session organized in Singapore (in December 2009) by the San Marino Government Agency and the Central Bank of San Marino, along with PB Corporate Services (as their local event partner).
The objective for this informal meeting was to gather feedback from established professionals (from the financial services industry and tax and legal experts so that the new regulations that the San Marino Government is working on will be based on the real needs of global businesses and financial markets.
The presentation was held at Singapore on 10 December 2009.
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Posted in Offshore Business, Offshore Company Administration, Offshore Trusts by Admin on April 25th, 2008
Delaware is the second smallest state of the United States of America (USA), located on the Eastern Seaboard of America and bordered by Pennsylvania and Maryland.
Delaware is rated overall #1 in the past five years by the US Chamber of Commerce for its litigation system. The internal operations of Delaware Corporations and LLCs are governed by Delaware laws, vested in the Delaware Court of Chancery. The Court of Chancery has over 200 years of legal precedent in corporation and business entity law.
For over a century, Delaware has been the home for America’s premier corporations. Over 60% of the Fortune 500 companies and over half of the US public listed companies are incorporated in Delaware.
Recent amendments to the Delaware LLC Act has made Delaware arguably the most advanced and flexible in all the states of America and the ideal jurisdiction for LLCs.
With optimal banking confidentiality, Delaware companies and trusts can be formed discreetly and there is no requirement to file any record of ownership with the Government.
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Posted in Business in Singapore, Singapore Business Registration, Singapore Incorporation by Admin on August 14th, 2007
A foreign company who wishes to start a business in Singapore, needs to register a Singapore branch office under the Singapore Company Act.
- The Singapore branch has to appoint 2 local agents in Singapore.
- The local agents must be ordinarily residents in Singapore i.e. Singapore Citizen, Singapore Permanent Resident, a person who has been issued an Employment Pass/Approval-In-Principle Letter/Dependant’s Pass.
- A foreigner can also act as a local agent of the Singapore branch if he has secured an Employment pass or approval-In-Principle letter from the Work Pass Division of the Ministry of Manpower (MOM).
- Any person above the age of 21 years may be appointed as an agent. However, some individuals e.g. bankrupt, with criminal records within or outside of Singapore, are disqualified from being agent.
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Posted in Company Administration, Corporate Secretarial by Admin on August 14th, 2007
The Role of a Company Secretary
A Company Secretary is an officer of the company, along with the director(s) and is responsible for “house-keeping’ duties in relation to the company. The Company Secretary takes instructions from the Director(s) and prepares the directors’ resolutions, Shareholders’ Minutes, ensures timely lodgment of the changes with the Company Registrar (ACRA), where appropriate and update the company’s statutory registers. The Company Secretary prepares and sends out notice of meetings of members/shareholders and may be required to attend these meetings to record the minutes and to also circulate the recorded minutes to the members/shareholders.
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Posted in Employment Pass by Admin on August 14th, 2007
Foreigners holding acceptable degrees and professional qualifications (whose monthly basic salary is more than S$1,800) are eligible to apply for an employment pass to work in Singapore. There are various types of employment passes, based on income bracket and qualifications:
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Posted in Offshore Business, Offshore Fund Setup, Offshore Incorporation by Admin on August 14th, 2007
Most offshore jurisdictions are free from foreign exchange controls and have tax-free and simple company legislation to cater for a diverse range of international business requirements. The most common reasons that businesses and high-net worth individuals consider using an offshore company is for:
- Asset/Investment Protection
- Confidentiality & Financial Privacy
- Reducing Tax Liability (personal or corporate)
- Estate Planning
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