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©2018 by Darwin Tax.

WELCOME TO DARWIN TAX

COMPANY REGISTRATION IS JUST THE START!

For those times when you need more than just corporate documents set, we are here to help you!

YOUR BUSINESS EVOLUTION

Taxation Darwinism happens when the pace of tax advice is faster than speed authorities will adopt new tools and methods ...[survival of the fittest]

We have being doing it for 10 years now. We started at the beginning of the 21st century. And we think and work like 21st century company. Our sphere of expertise includes company formation, bank account opening, advising corporate structures and tax optimizing structures.

FREE GUIDELNES

We start by providing free guidelines to structuring your business. We work with you on every step of company and bank account set-up, accounting and administration.

KNOWLEDGE BASE

We love to share our expertise! Explore some of our articles bellow. For advice that suits just your business, please contact us!

Bank secrecy is dead. Your local tax authority doesn’t even have to ask anymore to send information on your assets. Before 2016 the tax authorities had to have grounds to suspect tax evasion and only then would approach the bank. It has all changed as of January 1st 2016. Common Reporting Standard (CRS) went live now. CRS was known before as the Standard for Automatic Exchange of Financial Account Information in Tax Matters, but the abbreviation SAEFAITM was merely a tongue twister. It relies on US FATCA system, but there are too many differences between the 2 monsters (for example, CRS yet does not foresee any electronic database, united reporting template (at least between the EU Members), identification numbers for non-participants. FATCA is based on US citizenship, while CRS relies on tax residency.) 

There are 2 main types of Onshore companies in UAE – one is located in a Free Zone, another one is located in a Non-Free trade zone.

Both types require a business license upon company set-up.

For the most popular and less restrictive type of business – Free Trade Zone offshore companies – business license is obtained from a respective Free Trade Zone Authorities.

The license itself can have a very general meaning, for example:

Commercial Trade License (for trading companies)

Service license (for consulting, marketing, legal and other types of services)

Manufacturing license (for production companies)

The process of obtaining license is straightforward, although involves documents preparation. 

Singapore is major and one of the wealthiest international finance center. Its political and economic stability has attracted already world’s largest banks, international brands, IP and soft wear assets. While firm reputation of Singapore jurisdiction can hardly leave any doubt, and will devote another article to the Bank system in Singapore, here bellow we offer a brief guide of a truly unique taxation regime.

Singapore taxation system is based on a principal of remittance & source of income. Corporate income tax applies if:

Income is sourced in Singapore, i.e. activities are carried on in Singapore

Income is remitted in Singapore, i.e. income is received on Singapore bank account

Board meetings of directors take place in Singapore

Bank secrecy is dead. Your local tax authority doesn’t even have to ask anymore to send information on your assets. Before 2016 the tax authorities had to have grounds to suspect tax evasion and only then would approach the bank. It has all changed as of January 1st 2016. Common Reporting Standard (CRS) went live now. CRS was known before as the Standard for Automatic Exchange of Financial Account Information in Tax Matters, but the abbreviation SAEFAITM was merely a tongue twister. It relies on US FATCA system, but there are too many differences between the 2 monsters (for example, CRS yet does not foresee any electronic database, united reporting template (at least between the EU Members), identification numbers for non-participants. FATCA is based on US citizenship, while CRS relies on tax residency.) 

There are 2 main types of Onshore companies in UAE – one is located in a Free Zone, another one is located in a Non-Free trade zone.

Both types require a business license upon company set-up.

For the most popular and less restrictive type of business – Free Trade Zone offshore companies – business license is obtained from a respective Free Trade Zone Authorities.

The license itself can have a very general meaning, for example:

Commercial Trade License (for trading companies)

Service license (for consulting, marketing, legal and other types of services)

Manufacturing license (for production companies)

The process of obtaining license is straightforward, although involves documents preparation. 

Singapore is major and one of the wealthiest international finance center. Its political and economic stability has attracted already world’s largest banks, international brands, IP and soft wear assets. While firm reputation of Singapore jurisdiction can hardly leave any doubt, and will devote another article to the Bank system in Singapore, here bellow we offer a brief guide of a truly unique taxation regime.

Singapore taxation system is based on a principal of remittance & source of income. Corporate income tax applies if:

Income is sourced in Singapore, i.e. activities are carried on in Singapore

Income is remitted in Singapore, i.e. income is received on Singapore bank account

Board meetings of directors take place in Singapore

CONTACT US

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