ARTICLES
Ecuador Still Best Expat Destination
According to a latest expat survey Ecuador is still the most favourable place for expats 2015 repeating its achievement in 2014. Luxembourg which is always a favourable location for contractors has now dropped from second place to fifth. The survey which assessed sixty four countries for quality of life, ease of settling in, working abroad, family life and personal finance [...]
High Net Worth Migrants
In the last two decades migration has seen a dramatic increase leading to a lot of negative press. There are, however, different types of persons that migrate and among them are what are commonly known as high net worth individuals (‘HNWI’s) and although various democratic governments are making promises due to pressure from public opinion [...]
Job Skills Gained From Travel
There was a time when Contracting abroad was only for the highly adventurous and brave. However travel has become a part of normal life in today’s society and advancements in technology ensure that living abroad is no longer the scary isolated step that it used to be. Finding work abroad is a simple matter of using the [...]
HMRC Agrees No Resettlement for Tax Purposes on Trust Perpetuity Extension
Trusts in the United Kingdom created on or after 6 April 2010 when the Perpetuities and Accumulations Act 2009 came into force automatically have a perpetuity period of 125 years even if the trust document specifies a different period. It is not allowed to extend the perpetuity period of trust created before this date. However the [...]
Indian Government Suspending Retrospective Tax Demands
Following objections to India’s decision to allow retrospective levy’s of minimum alternate tax (MAT) on previous year’s investment returns this has now been suspended and the government has now clarified that the tax department will neither pursue fresh MAT claims nor act on previous ones until a special government committee has reported on the tax’s [...]
Data Breaches And Their Impact On IT Contracting
The number of data breaches for financial firms has more than doubled over recent years. A number of well-known banks have faced multiple investigations with human error being fingered as the culprit. Reports from investigations into these breaches are urging IT contractors to be aware of security and privacy issues and suggested that any developments in this [...]
New Rules to Effect the use of Multiple Trusts
In the Budget held in the UK in early July it was confirmed that estate planners may continue to use multiple trusts as a means to manage assets particularly in the event of death providing that they are set up and funded on different days. Previously multiple trusts could be set up simultaneously and a fraction of [...]
Global Investment in Financial Technology Triples
In a recent report by Accenture global investment in financial technology also known as fintech tripled from £2.72 billion in 2013 to £8.18 billion in 2014. This investment is more than three times the rate of general venture capital investments. Although the United States still dominates when it comes to financial technology investment, Europe in [...]
UK Corporation Tax the Lowest of the Major Economies
In 2013 the Chancellor of the Exchequer announced plans to reduce the corporation tax to 21% from 1 April 2014 and to 20% from the 1 April 2015. This reduction which has now come into force means that Great Britain has the lowest corporation tax rate of any of the G7 member states and the lowest joint [...]
Integrating into a New Culture to Avoid Conflict
One of the more exciting aspects of being an international contractor is the number of countries you get to experience living in. However it is not just problems with language gaps that you need to look out for sometimes cultural habits can cause friction as well. As a contractor it is not only the social aspects of [...]
Cyprus as a favourable IP Jurisdiction
Intellectual property can be a very valuable asset, therefore it is important to choose the right location in order to protect this. Cyprus is a very competitive location when it comes to the protection of intellectual property. With a single IP registration in Cyprus, IP rights owned by Cyprus companies may enjoy full protection in [...]
Increase in UK IT Work Permits
It is estimated that the number of skilled IT workers entering the UK from outside of the EU increased by 13% last year. This surge is attributed to an increasing reliance on foreign skills due to a historic problem of underproduction of IT skills in the UK which has led to firms seeking foreign talents [...]
Guernsey Retains AA+ Credit Rating
International credit rating agency Standard and Poor’s have announced that Guernsey has retained its AA+ rating. Guernsey’s revenue flexibility and sizable assets combined with the government’s robust fiscal position have been cited as reasons for the high rating. Guernsey had previously been unconcerned regarding the rating as it was not looking to develop its public [...]
Government Conducting Self-Employment Review
In an announcement made on the 1 July 2015 it was publicised that an independent review of self-employment in the UK is to be conducted. This marks another deliverance from the Conservative Government on one of their pledges made to the Self-Employed during their election campaign. Self-Employment accounts for over a quarter of the growth [...]
Rebranding of the BVI International Finance Centre
The BVI is currently implementing recommendations received via a report that it commissioned in 2014 by the consultancy firm McKinsey and Company. This rebranding comes thirteen years after the initial creation of the BVI International Finance Centre. The report was commissioned as a result of the modern challenges facing the industry including growing competition. As [...]
Top Ten Reputable Countries
The results of the 2015 survey conducted by the Reputation Institute have now been published and many of the countries which are popular for international contractors rank in the top ten. The top ten countries are as follows with Ireland just missing out at number 11. 1. Canada 2. Norway 3. Sweden 4. Switzerland 5. Australia 6. Finland 7. New Zealand 8. Denmark [...]
Jersey signs agreement with Rwanda
Jersey’s External Relations Minister Philip Bailhache signed the tax agreement at a ceremony in London on Friday 26th June 2015, making this the ninth Double taxation Agreement that Jersey has entered into, but their first with an African country. The agreement is in place for the avoidance of double taxation on both corporate and personal [...]
New Era In Banking For International Customers?
A Spanish bank called Caixa has announced the launch of a new service aimed specifically at international clients. The service which is available under the marketing name HolaBank will operate initially via a network of 100 branches, but is also available online. The staff are specifically trained in helping customers with international issues and are [...]
