Archive for July, 2014

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Follow us!

In on July 29, 2014 by NEWCO

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Going on holiday doesn’t mean missing out on all the important news about Madeira and Malta.

However hot it gets, we will still keep you up-to-date with every major occurrence in terms of international tax planning in these two jurisdictions.

Just follow our blog or the NEWCO page on your favourite social network.

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Have you been following all the news from the first half of the year?

In on July 22, 2014 by NEWCO

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The first months of 2014 were full of new developments, in both jurisdictions where we operate and at NEWCO itself.

The first half saw increased competitiveness at the International Business Centre of Madeira (IBCM), thanks to the eagerly awaited tax reform in Portugal, publication of the individual investment program in Malta and by more conventions for avoiding double taxation signed by both jurisdictions, along with other developments.

These and other changes have been reported in our blog and on the social networks where we are present (LinkedIn, twitter, Facebook and vimeo), and have been added to, or updated, in our brochures for each jurisdiction whenever relevant. We have also published new guides and prepared specialized webinars, such as those dedicated to international tax planning for trading and holdings, which attracted wider audiences than we anticipated. We began supplying information and communicating in Spanish, a third communication language for our company, following requests from many of our contacts and clients in Spanish speaking markets.

If you have not been able to keep up with all this information over the first half of the year, make the most of the summer for an update and perhaps even prepare your next investment in one of these jurisdictions.

Most popular articles in our blog:

State Budget 2014

Record year for Malta’s Ship Register

EC approves extension of Madeira’s IBC tax regime

Malta and Portugal currently lead Europe’s e-government ranking 

Over 100 individuals have applied for the Malta Individual Investor Programme

New guides in our library:

Investing in Angola

Foundations in Malta

Webinars:

Portuguese Corporate Tax reform

International tax planning for trading companies

International tax planning for holdings

Tax planning opportunities through Malta 

 

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Results confirm success of the Golden Visa programme in Portugal

In on July 14, 2014 by NEWCO

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The Residence Authorizations for Investment (ARI) programme run by Portugal, also known as Golden Visas, continues to grow at a healthy rate and in the first 6 months of 2014 it has already surpassed the results for the previous full year.

According to recent news in the Immigration, Borders and Asylum Report (RIFA) published by the Portuguese Immigration and Borders Service (SEF), 670 visas were granted to foreigners who brought in €417 million during the first 6 months of the year to benefit from this programme. In 2013, €305 million of investment was raised from the 476 residence visas that were granted. SEF estimates that this year this number will exceed €1 billion, given that 882 investor applications and 998 family applications are being analysed.

Most applications under this residence authorization scheme come from China (80%), followed by Brazil (3%), Angola (2%) and South Africa (2%). The report indicates that 446 Golden Visas were used to purchase real estate property with a value equal to or greater than €500,000 in and around greater Lisbon, Setubal, Algarve and Madeira, totalling some €270.3 million. Capital transfers equal to or greater than one million euros totalled some €34.2 million from 30 operations.

The special residence authorization scheme for investment activity came into force in October 2012 and it is a measure that has been implemented by the Portuguese government to attract foreign investment. The Gold Visa allows citizens from foreign countries that are not part of the European Union or the Schengen Agreement to reside in Portugal to conduct investment activities.

In order to receive a Golden Visa, the investment activity undertaken by an individual or a company must last at least five years, and there are various options that include capital transfers of €1 million or more, the creation of at least ten jobs or the purchase of real estate property worth at least €500,000.

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New guide: Foundations in Malta

In on July 4, 2014 by NEWCO

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Whether they are used for tax planning, successions planning, shareholdings, protection of other assets or supporting charity institutions, foundations are increasingly popular instruments and they are very interesting in many aspects.

Foundations have been recognized in Malta for over 100 years, through case law and doctrine, but in 2008 specific legislation was adopted to define their legal and tax frameworks better, endowing them with greater security and making the establishment of a foundation an even more attractive option for foreign investors.

A foundation in Malta cannot perform commercial activity directly, but it can hold shares, industrial property, franchises or other assets that generate income, such as a ship, providing it is the passive owner of these assets. A foundation can also be used as a means of securing a transaction and granting bond loans, or as a collective investment vehicle subject to licensing or authorization with the issue of units to investors, passively holding a common group of assets, while delegating management to a third party.

A foundation in Malta offers security and flexibility within the European Union and a highly attractive regulated environment, offering substantially lower costs in comparison with other jurisdictions.

Download our guide on foundations in Malta to find out more about the characteristics and advantages of this instrument.

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