In a significant global development, nearly 140 countries, including the Biden administration, are supporting a new tax framework developed by the Organisation for Economic Co-operation and Development (OECD). This initiative focuses on increasing taxes on international businesses, with American companies being a primary target. As countries start to implement this
One of the most critical choices in estate planning is selecting the right trustee, a decision fraught with complexity and importance. The trustee’s role is central to implementing an estate plan and ensuring the seamless operation of any trust. This individual is entrusted with managing assets, overseeing administrative and executive
On January 1, a significant shift in international corporate taxation took place as a global minimum corporate tax rate of 15% was implemented in several European and Asian countries. This initiative, led by the OECD and the G20, aims to curb base erosion and profit shifting (BEPS) by multinational corporations,
Chinese regulators have moved to close a loophole that allowed local government financing vehicles (LGFVs) to amass significant debt through offshore bonds. According to four sources familiar with the matter, LGFVs, which are entities established by local governments in China for funding infrastructure investments, have been instructed to cease issuing
Author: Dr Irina M. Francken, Director at IN Fiduciary Services As the number of family offices continues to expand, so does the demand for a wide range of essential fiduciary services, including trusts and corporate management. Given the escalating complexity of financial landscapes, there is a pressing need to diversify
Transaction Excludes Crestbridge Family Office Services, Confirms Company Statement Yesterday, Gen II Fund Services, a North American fund administration business, acquired Crestbridge’s institutional businesses. However, Crestbridge Family Office Services (CFOS) clarified that it will remain unaffected by the transaction and will continue to function independently. The financial terms of the
Hong Kong has introduced a groundbreaking tax concession regime for Single Family Offices (SFOs) managing Family-owned Investment Holding Vehicles (FIHVs). The new regime aims to position Hong Kong as a premier hub for family offices and provides numerous benefits for high-net-worth individuals and their families. Benefits of the New Tax
Over the past decade, Cayman Enterprise City (CEC) has been actively promoting the Cayman Islands and its Special Economic Zones (SEZs) as the perfect destination for knowledge- and technology-driven businesses looking to establish a tangible physical presence. As a result, CEC proudly houses 317 SEZ companies, representing the largest innovation
Campaigners are calling on King Charles to take action against the UK’s “network of satellite tax havens,” which enable an annual avoidance of £152 billion in taxes. The Tax Justice Network, a coalition opposing tax avoidance, has written a letter to the monarch, urging him to leverage his position to
The regulation of foreign direct investment (FDI) is gaining more significance in the field of investor regulations. While FDI restrictions are on the rise globally, the extent and characteristics of these regulations differ greatly across jurisdictions. In the following sections, we will outline the key elements of FDI regulation in
