Articles

What is a Shareholders agreement?  A Shareholders’ Agreement is a contract between the shareholders of the company. Such an agreement records, amongst other provisions, the shareholders’ intentions regarding: • How the company will be run; • Entry and exit of shareholders; • Resolution of disputes that may arise between them. Why is it important?   … more »

UNOFFICIAL TRANSLATION FROM THE FINANCE MINISTRY The Enforcement of Restrictive Measures on Transactions in case of Emergency Law of 2013 Decree as per articles 4 and 5 WHEREAS there is lack of substantial liquidity and significant risk of deposits outflow with possible outcome the risk of the viability of the credit institutions with chain effects … more »

  BANK NAME/LOCATION COMPANIES SUITABLE FOR ELTOMA’S COSTS BANK CHARGES KEY POINTS C.I.M Switzerland Cyprus Companies Singapore Companies Eltoma’s cost for existing clients– 300 EURO. No bank account opening costs Video conference call must be completed – no requirement for face to face meeting with the bank. Minimum initial deposit – 5000CHF. Coloured apostiled passport … more »

Information for our clients Dear Clients, As you may be aware in late 2011 the Cyprus Government passed a law, as part of emergency austerity measures, stipulating that all Cyprus companies are required to pay an annual levy of EUR 350 to the Registrar of Companies. Some exemptions had applied for the year of incorporation, … more »

Eltoma would like to draw your attention to potential business risks associated with trading in overseas countries. The headlines below highlight some of the recent changes that have impacted the risk environment. AFRICA Kenya – The March election will determine trends in political and economic risk. Tunisia – Tunisia’s country risk rating is downgraded on … more »

Eltoma would like to draw your attention to potential business risk associated with trading in overseas countries. The headlines below highlight some of the recent changes that have impacted the risk environment. AFRICA Ghana – Tensions rise ahead of forthcoming elections which the ruling party look set to win. Morocco – Despite the government’s optimistic … more »

Eltoma would like to draw your attention to potential business risk associated with trading in overseas countries. The headlines below highlight some of the recent changes that have impacted the risk environment. AFRICA South Africa – South Africa’s country risk rating is downgraded amid a wave of industrial strikes.  Zambia – Strong investor confidence is … more »

Eltoma would like to draw your attention to potential business risk associated with trading in overseas countries. The headlines below highlight some of the recent changes that have impacted the risk environment. AFRICA Angola – The outlook remains positive but a new oil law may prove problematic. Morocco – A weak first half performance points … more »

Eltoma would like to draw your attention to potential business risk associated with trading in overseas countries. The headlines below highlight some of the recent changes that have impacted the risk environment. AFRICA    Kenya – The central bank cuts interest rates sharply in response to lower inflation.   Nigeria – Economic prospects are positive but the … more »

As a former British colony Cyprus is an attractive destination for Brits who dreamed of sun, sea and the relaxed Mediterranean atmosphere. Cyprus offered a variety of real estate options from holiday apartments to landed property where retired British pensioners can spend their days relaxing under the sun. The continuation of the European crisis led … more »

Eltoma would like to draw your attention to potential business risk associated with trading in overseas countries. The headlines below highlight some of the recent changes that have impacted the risk environment. AFRICA                      Botswana – The economy’s high dependence on the mining industry presents a significant risk. Cote d’Ivoire – There is a … more »

UK Companies House is reduced fees from 1st October hence access to company appointments data will be free of charge. There will be no more charges for companies Appointment Reports, that include the following information:  -  incorporation date and registered office address –  key filing dates –  company status details –  company officers (excluding business … more »

Eltoma would like to draw your attention to potential business risk associated with trading in overseas countries. The headlines below highlight some of the recent changes that have impacted the risk environment. AFRICA  Congo, Dem. Rep. (Zaire) – The political situation continues to deteriorate. South Africa – Recent unrest underscores the many challenges facing businesses.   … more »

On 23rd of July Kazakhstan made amendments to the decision taken in 2008 regarding the list of tax relief countries. Kazakhstan has excluded Singapore from this list so it gives additional opportunities for using Singapore for tax planning in Kazakhstan. By using Singapore there has been significant reduction in costs associated with tax planning as compared … more »

With more than 2, 600 funds domiciled in the territory, the BVI still maintains its position as one of the leading financial centers for structuring investment funds and investment managers. In 2011, the BVI’s reputation was further reinforced when it received support and praise from the Financial Stability Board for its continued work in ensuring … more »

The business-jet market has seen remarkable growth over the past fifteen years, in spite of challenges posed by the recent economic recession. Additionally, Embraer recently estimated a rise in demand for private jets up to 11, 200 aircraft by 2021, with the Asia Pacific region contributing between 16-19 percent of total demand. So more and … more »

The BVI Financial Services Commission will put into practice, on a trial basis, extended hours for the Registry of Corporate Affairs later this year. This will be made in response to client’s desire for increased access to the Registry and its proprietary software system VIRRGIN. Extended hours of operations will mean faster changes to complement … more »

According to the BVI Financial Services Commission’s latest press release, BVI’s performance in its significant areas remains strong and is even increasing. There was a total of 17, 865 company incorporations in the jurisdiction in the first quarter of 2012, an increase of more than 37% over the last quarter. Numbers prove the strength of … more »

On 16 June 2012 Denmark signed a new tax agreement with China which would replace the current agreement dating from 1986. The new agreement is based on the OECD model treaty, includes changes to the article on permanent establishments, dividends (article 10) and the method for elimination of double taxation (article 22). Under the current … more »

Eltoma would like to draw your attention to potential business risk associated with trading in overseas countries. The headlines below highlight some of the recent changes that have impacted the risk environment. AFRICA Kenya – The central bank loosens monetary policy as inflation subsides. Morocco – An IMF precautionary loan guarantees access to external financing. MIDDLE … more »

Portugal has relaxed tax rules for wealthy expats heading for their place in the sun. The government has offered a special tax deal for expats in the hope of attracting extra incoming investment. Under the invitation, the welcome mat was out for expats to become residents if they could show they were high net worth … more »

The Swiss branch of bank HSBC has confirmed it handed further documents to the United States containing the names of staff, details of business trips, internal reports, phone calls and emails in connection with tax evasion investigations. HSBC spokesperson confirmed a report in Tuesday’s edition of the Geneva-based Le Temps newspaper. He added all affected … more »

Tourism in Cyprus is expected to increase as Ukrainians will soon find it much easier to get a visa to visit Cyprus.  Online applications for a visa to Cyprus will be made available allowing the process to be reduced to only days. Cyprus and Ukraine have a solid and growing financial relationship.  Cyprus is the … more »

Registering a company in Singapore can offer you a number of new and advantageous opportunities. Incorporation in a highly reliable, low-tax jurisdiction that is on the OECD ‘white list’, will enable you to plan your business in a more profitable way while allowing you to enter lucrative international markets and gain a favourable position with … more »

Eltoma would like to draw your attention to potential business risk associated with trading in overseas countries.  The headlines below highlight some of the recent changes that have impacted the risk environment. AFRICA Cote d’lvoire – Sizeable foreign debt relief gives a boost to the risk outlook. Nigeria – Economic growth is slowing but progress … more »

Cyprus’s central bank governor said on Thursday he hoped a financial bailout accord would be achieved with international lenders by the end of September. “We hope that an accord (with the Troika) can be signed by the end of September, because we want this uncertainty which is hovering at the moment to disappear, for this … more »

Hong Kong passport holders will be available to visit Kazakhstan visa-free for a stay of up to 14 days starting from July 26, the Immigration Department of Hong Kong announced. Citizens of Kazakhstan will also enjoy 14 days’ visa-free access to Hong Kong. The two countries signed the Agreement on Mutual Exemption of Visa Requirements … more »

The double taxation agreement (DTA) between Hong Kong and Malta came into force on July 18, 2012, after completion of ratification procedures on both sides. The DTA was signed on November 8, 2011, and determine the allocation of taxing rights between the two countries and the tax relief on different types of passive income. For … more »

Nineteen years ago Russia first applied to the World Trade Organization (WTO). Recently it has been announced that Russia will finally join the WTO on August 22nd. It is another milestone on the way to integration, and an opportunity for investors. In 2011 Russia gained the turnover of $522 billion in goods and $54 billion … more »

Minister for Trade and Industry of Singapore arrived to Brazil to start his  official visit to the country. Minister Lim will meet Brazil’s Minister for Development, Industry and Foreign Trade for intense discussions on economic cooperation between the two countries. The Ministers will discuss ways to increase business opportunities in both countries. Singapore and Brazil … more »