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What is unique in your jurisdiction and why Chinese investors should form companies there? The International Business Companies (IBC) Registry allows foreign investors to register offshore companies at RAK Offshore, a division of RAK Investment Authority (RAKIA) without the need to establish a physical presence in the UAE. Incorporation within 24 hours. Any non-resident individual or corporate entity can register a company. The availability of a modern and flexible legislative framework Simple incorporation and filing requirements The availability of Double Taxation Avoidance Agreement (DTAA) State of the art banking system State of the art telecommunication facilities Proximity to entire Gulf...

CORPORATE & FIDUCIARY JURISDICTION 2014

Executive Summary:Cayman is the largest offshore banking centre in the world, and the second largest offshore captive insurance base after Bermuda. There are no direct or indirect taxes; government revenue comes from customs duties, stamp duty and annual fees levied on corporations. A recent attempt by the administration to impose a payroll tax was withdrawn in favour of a substantial increase in work permit fees. It is thus difficult and expensive to employ expats. The economy is highly dependent on tourism and financial services. Since the opening of the Cayman Islands Stock Exchange in 1997, mutual funds have become a growing...

SPONSORED CONTENT 2018

RAK International Corporate Centre (RAKICC) is a United Arab Emirates Corporate Registry operating in Ras Al Khaimah (UAE). RAK ICC is responsible for the registration and incorporation of International Business Companies, as well as providing a full suite of Registry services related to International Business company activity. RAK ICC is a modern, world class Company Registry operating in full compliance with international standards and best practices in the International Business company formation industry. The UAE is one of the most open economies in the world with a GDP of US$400 Billion. A business-friendly hub, with global connectivity, world class infrastructure...

CORPORATE & FIDUCIARY OVERVIEW - EXECUTIVE SUMMARY 2014

What is unique in your jurisdiction and why Chinese investors should form companies there? FlexibilityThe flexibility of the structure of the Cayman Islands exempted company is one of its principal appeals. For example, an exempted company does not require any directors or officers of the company to be resident in the Cayman Islands.  The register of shareholders and minute books are not required to be held in the Cayman Islands and can be held in another jurisdiction. The company is not required to hold an annual general meeting of shareholders. There is no Cayman Islands law requirement for an exempted...

2015

By Frances Emery. As the number of China's high net worth individuals grows each year, more and more are becoming privy to the advantages found in offshore financial centers. Whether it is a way to safeguard their investments, to reduce their tax burden, or to plan for an uncertain future, the world's most stable offshore financial jurisdictions can expect an increasingly large percentage of their clients to come from China in the future. The Cayman Islands is one of them. Although it is one of the world's leading offshore centers today, the Cayman Islands did not have an easy start.Its...

PRIVATE & INTERNATIONAL BANKING OVERVIEW - EXECUTIVE SUMMARY 2014

Executive Summary:Dubai, part of the UAE, is home to Jebel Ali, a huge man-made port with the largest free-trade zone in the region and 5,500 resident companies. A new airport will be the world's largest. Dubai's state-of-the-art air cargo village helps ensure the world fastest sea-air transport in as little as 4 hours. There are no foreign exchange controls, quotas or trade barriers. Import duties are extremely low, and many products are exempt. The UAE dirham is freely convertible and is linked to the US dollar. Other tax-free zones in Dubai include the Dubai International Financial Centre (DIFC), a financial...

JURISDICTION 2014

By Adam Skuse Spiraling government debt, borrowing difficulties, growing unemployment and calls to increase tax. While such stories come as no surprise when talking about Greece, Italy and the other ailing economies of the old world, few would expect to find the sandy shores of the Cayman Islands - a name synonymous with wealth - troubled by similar problems. However, the debt of the Cayman Islands government is expected to reach around $600 million by June next year, up nearly 500 percent from a decade ago; while this year will be the third time in four years that it will...

PRIVATE & INTERNATIONAL BANKING OVERVIEW - EXECUTIVE SUMMARY 2014

Why should Chinese investors form companies in Qatar?Qatar is one of the world most dynamic and fast-growing economies in a fast-growing region, underpinned by an estimated US$16.7 trillion of magnetisable oil and gas reserves. Moreover, Qatar is also ranked the 13th most business-friendly country in the world and highest in the Middle East (World Economic Forum Global Competitiveness Report 2013-2014). At the heart of the investment case is the stellar performance of Qatar economy. Between 2007 and 2012, nominal GDP grew at a compound average annual rate of 17%. The International Monetary Fund forecasts that the GCC economy will grow...

CORPORATE & FIDUCIARY JURISDICTION 2014