NEWS

By Bank of Asia   Mrs. Lorna Smith, OBE welcomed the Bank's guests on behalf of its Chairman, Mr. Carson Wen, and the other members of the Board of Directors.   Chairman of BVI Finance and Regional Managing Director of Trident, Mr. Nick Bishop in his brief remarks, expressed his pleasure and gratitude that the principals of Bank of Asia had taken the decision to open a bank in the BVI. He considered the advent of the Bank of Asia to be a positive story and encouraged the industry to support the Bank.   President of the Bank Ms. Lisa...

PRIVATE & INTERNATIONAL BANKING NEWS 2021

Find out how Asia Outbound can introduce you to new intermediaries and agents for your project or services. Book a call now!     By Schengen Visa Info   The Investor Visa for Italy is a two-year, renewable visa for foreign nationals intending to make a large investment or donation in Italy.   As one of the largest economies in the world as well as a strategic pathway to the European Single Market, in recent years, Italy has taken action trying to paint itself as an attractive location for foreign investors.   One of these steps was introducing a special tax regime, which is particularly targeted towards holders...

IMMIGRATION BY INVESTMENT NEWS 2021

By Zhang Shiwei   As a free trade port with Chinese characteristics, the relevant system design of the Hainan free trade port cannot copy the offshore company law and offshore financial system of the traditional offshore jurisdiction. We may as well start from the local offshore and become the registered place of red chip offshore companies, so as to give full play to the location advantages relative to the traditional offshore jurisdiction, so as to play an important role in the overseas red chip private placement, listing and cross-border M & A of Chinese enterprises.   Recently, the Hainan Free...

FUNDS & FUNDS SERVICES NEWS 2021

By EY Greater China   The fifth session of the 13th National People’s Congress Standing Committee passed the revisions to the China Individual Income Tax (IIT) Law on 31 August 2018. The effective date of the New IIT Law is 1 January 2019.    We will discuss the issues which may have impacts on Chinese nationals who have overseas income and their Chinese employers in the following.    The new China Individual Income Tax (IIT) Law implies more strict registration requirements. Chinese employer needs to register outbound employees’ information before the end of February of the following year. It also means increased employer obligations as...

CORPORATE & FIDUCIARY NEWS 2021

By: Alex Muscat   My role as a parliamentary secretary enables me to encounter many individuals daily. Recently, one individual explained to me how her daughter was able to keep abreast of online learning thanks to one, simple step: we have provided her with a tablet to continue her education and stay connected.   This tablet initiative was made possible only through funds achieved by means of foreign direct investment. We have provided laptops and tablets to children who come from economically disadvantaged backgrounds with the aim to give all students the same opportunity for education.   There is no...

IMMIGRATION BY INVESTMENT NEWS 2021

By: Christian Henrik Nesheim   President of the European Commission, Ursula von der Leyen has dismissed calls from Green Party MEP Sven Giegold this week to launch the same infringement procedures against golden visa jurisdictions Spain, Portugal, Greece, and others as it recently did against Malta and Cyprus over their citizenship-by-investment programs.   Giegold’s arguments adhered to the by-now-familiar refrain of IM-antagonists: “Golden visas open the door for criminals. They can easily launder their dirty money in the EU and avoid taxes,” Giegold said this week, reports The Express.     The MEP, a long-time, vocal opponent of investment migration, who is a co-founder...

IMMIGRATION BY INVESTMENT NEWS 2021

By CS Global Partners   According to Les Khan, CEO of St Kitts and Nevis' Citizenship by Investment (CBI) Unit, the dual-island nation's CBI Programme has expressed an increase in interest from African businesspeople, particularly from Nigeria and South Africa. One of the main motivators in acquiring a second citizenship stem from the visa restrictions many Africans face when attempting to conduct business abroad. St Kitts and Nevis boast one of the strongest passports within the region and 25th globally, surpassing many larger and more developed nations.   Established in 1984, St Kitts and Nevis' CBI Programme is the oldest within the investment immigration industry and is internationally recognised as a Platinum Standard...

IMMIGRATION BY INVESTMENT NEWS 2020

By Enry Cooke   Foreigners keen to invest up to $2.3 billion in New Zealand are unable to get visas because of Covid-19 restrictions, a situation National says is holding back “tens of thousands” of jobs.   A huge amount of cash is promised by applicants for the investor-class visa, which allows foreigners to gain residence in New Zealand if they promise to invest a certain amount of money into the economy.   A similar visa was famously used by US tech billionaire Peter Thiel to gain residency in the country, which he then used to gain citizenship.   Immigration...

IMMIGRATION BY INVESTMENT NEWS 2020