On the 30th July the European Securities and Markets Authority recommended that Jersey should be included in the first wave of ‘third countries’ whose managers can apply for an AIFMD passport. This passport will allow owners to enter the EU to market their Alternative Investment Funds (AIF) to investors.
ESMA's initial assessments encompassed only six jurisdictions - Jersey, Hong Kong, Guernsey, Singapore, Switzerland and the USA - selected on the basis of factors including the efforts by stakeholders from these countries to engage with ESMA's process and the depth of activity and relationships between the countries and the EU in this area.
The advice concludes that no obstacles exist to the extension of the passport to Jersey,...
The Cyprus government has recently passed a number of amendments to its tax laws, which considerably enhance the competitiveness of the Cyprus tax system. The changes are some of the most significant since the introduction of the Cyprus tax regime in 2003.
The amendments promote direct foreign investment by increasing the attractiveness of equity as an alternative to debt financing for companies.
In addition, the changes aim to encourage high-earners and high-net-worth individuals to relocate to Cyprus by introducing the non-domiciled resident status into the Cyprus tax legislation.
Below is an overview of the most relevant amendments.
Corporate income tax law- allowable tax deduction on corporate equity
Vistra Jersey was delighted to host STEP's first Employer Forum last week which was part of their new Employer Training Scheme.
At the event a group of Jersey companies were awarded their certificates for successfully applying and taking part in the STEP Employer Training Scheme pilot. The scheme is designed to help any employer of STEP students and members to plan and deliver the best possible learning experience.
Jane Pearce, Managing Director of Vistra's Jersey office, received an award on behalf of Vistra Jersey and is delighted to have been awarded one of the first STEP Platinum Training Partner Awards. Jane commented: "Vistra continues to be dedicated to offering our employees professional training...
Poland to share tax data with the US under FATCA
In June 2015, the act implementing Foreign Account Tax Compliance ACT (FATCA) entered into force in Poland, as a result of an agreement concluded by and between the Polish and the United States governments.
FATCA is a US anti-avoidance law. It requires financial institutions abroad to provide the US tax authority with information about their US citizen clients. Poland is one of many countries that have agreed to implement FATCA and share tax data with the US to help it enforce the Act.
Poland receives new investment from United Arab Emirates
In a recent trip to Dubai, Poland’s deputy prime minister and minister of economy, Janusz Piechociński, announced significant...
Vistra Shanghai has moved to a new office.
33/F Westgate TowerNo. 1038 Nanjing West Road, Jing'an DistrictShanghai 200041, P.R. China Tel: +86 21 6090 0598Fax: +86 21 6361 6489
Please take note that our general telephone line will be changed to +86 21 6090 0598 while our fax number will remain unchanged.