Luxembourg’s tax system distinguishes between corporate residents and non-residents. While corporate residents are required to pay taxes on their worldwide income, corporate non-residents are only taxed on their Luxembourg source of income, i.e. income originating within Luxembourg’s borders. The corporate income tax (CIT) rates in Luxembourg are structured in a progressive manner. Businesses with taxable […]
Saudi Arabia has introduced a new electronic business visit visa called “visiting investor” to specifically facilitate the travel of investors seeking investment opportunities in the country. The new service can be done online and allows investors to easily and quickly obtain a visit visa without having to visit the Saudi embassy or consulate. This initiative […]
Bahrain’s parliament has voted to eliminate a part of its criminal law that granted rapists immunity from punishment if they married their victims. The decision, supported by women’s rights activists who had long fought against the legislation, was unanimously passed by Bahrain’s parliament. According to Minister of Justice, Islamic Affairs and Endowments Nawaf Al Maawada, […]
According to the recently published Vistra 2030 Report (“Preparing for a New Era of Globalisation”) the British Virgin Islands (BVI) maintains its position as the leading offshore jurisdiction. The report suggests that businesses and investors prefer established and proven jurisdictions, as evidenced by the BVI’s consistent top rankings since 2010. Mrs. Elise Donovan, CEO of […]
A growing number of African countries are offering residence and citizenship to foreign investors through their investment programs. These programs, known as migration investment programs, allow investors to purchase citizenship or residency in exchange for investment in a country. Namibia and Henley & Partners, the global leader in residence and citizenship planning, have unveiled a […]
The real estate market in South Africa has experienced a surge in demand for luxury homes and properties in recent years due to a stable political climate, foreign investment and the growth of the middle class. It has attracted affluent investors who are willing to pay premium prices for high-end properties located in exclusive neighborhoods […]
A comprehensive report of UK consultancy Pragmatic Advisory commissioned by BVI Finance (‘Beyond Globalisation: The British Virgin Islands Contribution to Global Prosperity in an Uncertain World’ — The-BVI-Advantage/Beyond-Globalisation) has assessed the role and highlighted the value of the British Virgin Islands (BVI) as a globally respected international business and financial centre. According to the report […]
The President of Madeira has rejected plans to end the Portugal’s golden visa scheme arguing that it is good for the growth of island’s economy, in particular the high-income real estate and that the measures to stop it are fundamentally aimed at Portugal itself. Currently, there is a public discussion in Portugal in which all […]
Albania’s Prime Minister, Edi Rama, has announced that the country’s planned Citizenship by Investment Program (CIP), also known as the “golden passport” scheme, will be temporarily suspended. This comes after pressure from the European Union (EU) to terminate such programs in all EU countries, claiming they go against EU laws and can allegedly benefit persons […]
On November 4, 2022, the Czech Parliament approved a tax on extraordinary profits of energy, petroleum, mining companies and banks. It is to be paid for a period of three years until 2025, its rate will be 60 percent, and the income from this tax is to be used to cover the extraordinary costs that […]
