NEWS

    Find out how Asia Outbound can introduce you to new intermediaries for your project or services.       By Hamish Boland-Rudder   The deal has been praised as a historic step in ending the ‘race-to-the-bottom between tax havens but will need international backing to move forward.   A group of the world’s most economically advanced nations has agreed on landmark new reforms to crack down on cross-border tax avoidance that would force multinational corporations like Google and Apple to pay taxes in the countries where they operate, rather than in tax havens where they choose to shift their profits....

CORPORATE & FIDUCIARY NEWS 2021

By Nwachukwu Egbunike   Is China's silk road leading Nigeria to sufficiency or imperialism?    In December 2020, the latest of China’s many industrial investments in Nigeria, the railway between Lagos and Ibadan, became operational. Running 156 kilometers long and costing some $1.5 billion US dollars (USD), its opening was accompanied by public fanfare and Chinese government tweets, celebrating it as another victory for both Chinese-led developments, and for China’s public image in sub-Saharan Africa.    Over the past two decades, China’s investment in Nigerian industries, and especially transport, has offered Nigeria access to capital and expertise for badly needed development, at...

FOREIGN DIRECT INVESTMENT NEWS 2021

    Find out how Asia Outbound can introduce you to new intermediaries for your project or services.           Amendments introduce new investment options and improved processing.   March 12, 2021 — Today, in the Bulgarian State Gazette, the recently voted bill on amending the legislation governing the country’s Investor Program for Residence and Citizenship was promulgated. Among the changes are new investment options and requirements, abolishment of the original government bond option, modified application procedure, and improved processing times.   The amendments are largely in response to the recommendations of the European Commission, which are aimed at streamlining and...

FOREIGN DIRECT INVESTMENT NEWS 2021

  Find out how Asia Outbound can introduce you to new intermediaries for your project or services.       By Ramola Talwar Badam   Thousands of residents have been receiving their long-term residency visas, but how can you get one?   The golden card is a long-term residency programme announced by Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai, in May 2019. Not long after its launch, more than 400 investors and businessmen, including some of their families, had already been granted the visa, with dozens more receiving it each day.   Sheikh Mohammed said 6,800 investors and residents, worth an estimated...

IMMIGRATION BY INVESTMENT NEWS 2021

      Find out how Asia Outbound can introduce you to new intermediaries for your project or services.       By Dan Neumann   An official from the administration of Democratic Gov. Janet Mills joined Maine’s largest business lobby to testify against a proposal that would close loopholes allowing corporations to stash profits in offshore tax havens.    “An Act To Prevent Tax Haven Abuse,” introduced on Thursday by state Rep. Denise Tepler (D-Topsham) to the legislature’s Taxation Committee, would require multinational corporations with sales in Maine to claim U.S.-based profits when they file their Maine taxes, rather than try...

CORPORATE & FIDUCIARY NEWS 2021

The Eastern Caribbean Central Bank (ECCB) has officially launched its digital currency, also known as DCash, this week. The Federation of St Kitts and Nevis is one of the first Eastern Caribbean nations to embed the pilot currency, a sentiment in line with its digital transformation promised in 2020. DCash, considered legal tender, is a real-time payment option available within the Eastern Caribbean Currency Union (ECCU) and offers a safer, faster, and cheaper method for making payments.   According to the Governor of the ECCB, Timothy Antoine, the initiative's goal is to increase opportunities for inclusion and create financial growth...

PRIVATE & INTERNATIONAL BANKING NEWS 2021

By Dominica News Online   Dominica has been added to the list of jurisdictions that are considered non-cooperative for tax purposes by the European Union (EU) Council.   On Monday, February 22, 2021, the council announced that the tax blacklist was due to Dominica receiving a “‘partially compliant’ rating from the Global Forum and has not yet resolved this issue.”   According to a press release, a jurisdiction can be blacklisted if they have “not engaged in constructive dialogue with the EU on tax governance or failed to deliver on their commitments to implement the reforms necessary to comply with a set...

CORPORATE & FIDUCIARY NEWS 2021