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Find out how Asia Outbound can introduce you to new intermediaries for your project or services.         By TOM CAMPBELL    On April 5, Treasury Secretary Janet Yellin proposed that the world’s large economies should all agree that business taxes should not go below a certain level.   Otherwise, she said, the “30-year race to the bottom” would continue. Yellin also called for a consensus on how countries would divide up the right to tax companies that do business across many countries’ borders.   The Yellin initiative has a third component as well—to eliminate the more egregious tax haven...

CORPORATE & FIDUCIARY 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

Antigua and Barbuda’s Prime Minister, Gaston Browne, is accusing the United States of America of trying to “kill” the Citizenship by Investment Programs (CIP) in the Caribbean.   Browne said to listeners on his weekly radio program Saturday gone, that “It seems as though they don’t want us to operate the CIP so they want to kill it”.   “They attacked St Kitts and Dominica too. And they do that so often I don’t even know what to say. But anytime they kill it, countries like Dominica and St Kitts, their economies will be decimated and they will plunge tens...

IMMIGRATION BY INVESTMENT NEWS 2021

By Sofia Horta e Costa and Enda Curran   In 2020, China’s efforts to lure foreign funds into its borders finally paid off. Investors from New York to London clamored for its stocks and bonds, cementing the nation’s position on the global stage.   Against the wreckage of the global economy and with unprecedented stimulus unleashed by central banks, China’s resilience to the coronavirus and its higher-yielding assets looked attractive. The result was a 62% increase in overseas holdings of local stocks from a year earlier to 3.4 trillion yuan ($520 billion), a 47% fillip for the bond market to 3.3 trillion yuan,...

FOREIGN DIRECT INVESTMENT OUTBOUND INVESTMENT HIGHLIGHTS 2021

By Tuala Tapuitea Lafaialii-Petaia   The Samoa International Business Finance Centre Ltd. (Samoa IBFC) in collaboration with Asia Outbound hosted a Webinar session for Professionals from mainland China on Wednesday 31st March 2021, to foster greater interest in Samoan solutions, familiarize the participants with the solutions available and provide a forum to raise any issues for clarity.    The Webinar session was attended by several Professionals from different Entities, as well as Senior Executives of renowned Trust Companies.    The Webinar included presentations highlighting the International Finance solutions offered by Samoa, as well as the developments in the international financial market...

CORPORATE & FIDUCIARY SPONSORED CONTENT 2021

Find out how Asia Outbound can introduce you to new intermediaries and agents for your project or services.       By Web Report Dubai   The initiative was launched in a bid to position the fast-developing emirate as a global centre for culture, an incubator for creativity, and a hub for talent. Dubai has announced it will grant cultural visas to 1,000 creators and artists from across the world. The announcement was made on Tuesday by the Dubai Culture and Arts Authority, as part of the first-of-its-kind cultural visa initiative launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President...

IMMIGRATION BY INVESTMENT NEWS 2021

Find out how Asia Outbound can introduce you to new intermediaries and agents for your project or services     By CS Global Partners   The Commonwealth of Dominica's new geothermal plant is expected to be built in 2022. The project is part of the Caribbean island's goal to become the world's first climate-resilient country. It aims to reduce electricity costs for consumers and supply energy to its neighbouring French islands of Guadeloupe and Martinique.   The plant, which is partly funded by the country's Citizenship by Investment Programme, is expected to generate approximately 120 megawatts of electricity when finished. Dominica's Ambassador...

IMMIGRATION BY INVESTMENT NEWS 2021