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NEWS AND ANNOUNCES

International Holding and Trading Companies: Their Formation, Uses and Tax Structure
Cyprus is no longer an offshore jurisdiction in the strict sense of the word, but its tax regime, coupled with its location at the cross roads of Eastern Europe, the Middle East, North Africa and Asia, an extensive network of double-tax treaties, its membership of the European Union and its relatively sophisticated European business environment and stable economy mean that the island is an ideal place to locate holding, trading and intermediary companies.

BVI To Amend Trust Licensing, Bank Regulation
The British Virgin Islands Financial Services Commission has noted several legislative amendments that will affect entities granted licenses in respect of trusts regulated in the territory.

Hong Kong, Switzerland Sign DTA
On December, Hong Kong’s Secretary for Financial Services and the Treasury, Professor K C Chan, and the Swiss Consul-General, Rita Hammerli-Weschke, signed a double taxation agreement between their two countries in Hong Kong.

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