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New On The Network Today
This feed is published daily with selected new or updated
content from across our network. For a list of network sites, many of
which feature daily news, see below. |
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| 02/09 New
Lowtax Editor Column, by Kitty Miv |
| 01/09 International
Privacy and Security, Investors Offshore special feature |
| 31/08
Lowtax Belize, annual update |
| 27/08
IRS To Drop UBS Lawsuit, Tax-News.com |
| 26/08 New
Lowtax Editor Column, by Kitty Miv |
| 25/08 New
PBTG Editor Column, Caroline, PBTG editor |
| 24/08
Uruguay Stays On OECD Grey List, Tax-News.com |
| 23/08 Don't
Forget Doha, And I Don't Mean The Tennis, Jeremy Hetherington-Gore
blog entry |
| 20/08
Ireland Plans Social Security Overhaul, Tax-News.com |
| 19/08 New
Lowtax Editor Column, by Kitty Miv |
| 18/08 New
PBTG Editor Column, Caroline, PBTG editor |
| 17/06
Lowtax Cayman Islands, annual update |
| 16/08
Germany's Fiscal Court Seeks Property Tax Reform, Tax-News.com |
| 13/08 Jurisdiction
Special Focus: Antigua and Barbuda, Investors Offshore special feature |
| 12/08 New
Lowtax Editor Column, by Kitty Miv |
| 11/08 New
PBTG Editor Column, Caroline, PBTG editor |
| 10/08 Brazil
Cuts Import Tariffs, Tax-News.com |
| 09/08 Ukraine
Tax Code Published, Tax-News.com |
| 06/08
France Plans Reform Of Property Tax Credit, Tax-News.com |
| 04/08 New
PBTG Editor Column, Caroline, PBTG editor |
| 02/08 Islamic
Finance - The New Mainstream Alternative, Investors Offshore special
feature |
| 28/07 New
PBTG Editor Column, Caroline, PBTG editor |
| 27/07 UK
Launches Raft Of Tax Consultations, Tax-News.com |
| 26/07 Fat
Tax On The Menu , Jeremy Hetherington-Gore blog entry |
| 23/07 Sarkozy
Seeks 'Fiscal Convergence' With Germany, Tax-News.com |
| 20/07 Singapore
Base For Tuvalu OIFC, Tax-News.com |
| 15/07 St
Vincent & The Grenadines, Investors Offshore special feature |
13/07 Tax-
News.com Jersey Review 2010-2011 |
| 12/07 Goodbye
To All That, Jeremy Hetherington-Gore blog entry |
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06/07 Hong
Kong Full PBTG Guide, added to Personal Business Tax Guide |
| 28/06
Lowtax Dubai, annual update |
| 18/06 Singapore
- Another Hong Kong?, Investors Offshore special feature |
| 15/06 Swiss
Parliament Approves UBS Agreement, Tax-News.com |
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08/06 Dubai
Full PBTG Guide, added to Personal Business Tax Guide |
| 04/06
Lowtax Panama, annual update |
| 01/06
Lowtax Luxembourg, annual update |
| 03/03
Personal Business
Tax Guide, PBTG, has launched! |
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| Providing essential tax news and information for globally
mobile artists, contractors, entrepreneurs, professionals, small businesses,
sportspersons and entertainers. |
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| Lowtax Network Sites |
| Lowtax Network Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail. |
| Tax News: Global
tax news, continuously updated through the day. |
| Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor. Sponsored by HSBC
Bank International. |
| Law & Tax
News: Daily news and background data on tax and legal developments
for international business. |
| Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation. |
| Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources. |
| US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax. |
| NEW! Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers. |
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New SVG IBC Act Gets Royal Assent,
by Amanda Banks, for LawAndTax-News.com, London 05 March 2008
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New International Business Companies legislation has received Royal Assent
in St Vincent and the Grenadines, and is now the definitive law regarding IBCs
in the jurisdiction.
The SVG International Business Companies (Amendment and Consolidation) Act
2007 received Royal Assent on February 22nd. Its main provisions include:
- No residency or nationality requirement for shareholders, officers and/or
directors of SVG IBCs.
- Companies may be formed with as few as one shareholder who may be a natural
person or a juridical entity.
- Companies may be formed with as few as one director, who may be a natural
person or a juridical entity.
- No requirement for a company secretary.
- IBCs may own land in the jurisdiction, although foreigners may require
an alien landholding licence.
- Exemption from taxation; under present regulations there are no personal
income taxes, estate taxes, corporate income taxes or withholding taxes for
SVG IBCs.
- Ability for IBCs to benefit from the Caricom Tax Treaty in return for payment
of tax at 1% on annual profits.
- No requirement for the filing of annual reports or accounts with any government
authority in SVG, expect for IBCs benefiting from Caricom tax treaties.
- Authorized share capital may be denominated in any recognised currency.
- No minimum capital requirement.
- Shares may be issued fully paid, partially paid, or nil paid.
- Company seal not mandatory.
- Identity of beneficial owners, shareholders and directors not required to
be filed in any public record unless the directors elect to do so.
- Register of charges must be kept, but there is no requirement for this to be filed
on public record.
- Provision for continuation of companies to and from anywhere around the
globe, and for local companies incorporated to migrate to the IBC register.
- Streamlined procedures for Articles of Incorporation, mergers or consolidations
with foreign corporations.
- Shelf companies available.
- Expedited incorporation process in as little as 24 hours subject to name
availability and reservation.
- Trustees of shares of SVG IBCs held in an SVG trust enjoy similar status
to trustees of VISTA trusts in the BVI. Trustees have an overriding duty to
hold the shares and have no duty to oversee the management of the underlying
company, unless so provided in the trust deed or the Articles and By Laws.
The 2007 IBC Act also makes provision for the incorporation of segregated cell
companies where pre-incorporation clearance has been obtained from the International
Financial Services Authority, the local regulator.
The Act, like similar legislation in other jurisdictions, provides that such companies may be approved
by the regulator where they are formed to be used as a mutual fund or a captive
insurance company. However the SVG Act goes further; approval may be given where
the company is formed for any other purpose approved by the local regulator.
Under this last category, companies established for the purpose of owning,
managing, and developing or investing in real estate (in any part of the world)
will be approved for incorporation as segregated cell companies, provided certain
strict criteria are met.
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