(47,1,2,'Regulation of Trust or Company Service Providers began in Hong Kong from March 1, 2018',NULL,'On January 25, 2018 in Hong Kong, it was announced that a new licensing regime for TCSP providers will enter into force on March 1, 2018 under the Anti-Money Laundering and Combating the Financing of Terrorism Act (Chapter 615) (AMLO).','<p>On January 25, 2018 in Hong Kong, it was announced that a new licensing regime for TCSP providers will enter into force on March 1, 2018 under the Anti-Money Laundering and Combating the Financing of Terrorism Act (Chapter 615) (AMLO).</p><p><span style=\"text-decoration: underline;\"><em><strong>TCSP new licensing regime</strong></em></span></p><p>Currently, the provision of corporate and trust services in Hong Kong does not have its full regulation. The introduction of the licensing regime for trust companies was discussed in the framework of public consultations back in 2009-2010, but then nothing happened.</p><p>  Under the new regime, trust companies and persons providing such services will have to obtain a license from the Registrar. To obtain a license for the provision of such services is not just a need to meet certain criteria, but also to meet the requirements of vetting customers, collection and storage of information on their activities in accordance with anti-money laundering laws of Hong Kong.</p><p>  The registrar will have the right to grant, deny, renew, suspend or modify the terms of the license. The TCSP license will be issued for three years with the option of subsequent renewal. If there are any changes in the structure, providers of trust and corporate services will need to notify the Registrar about this within a month.</p><p>  For the trust services provision without a license after March 1, 2018, sanctions will be imposed in the form of a <span>fine not exceeding</span> 100 thousand Hong Kong dollars and imprisonment for up to six months.</p><p> </p><p><span style=\"text-decoration: underline;\"><em><strong>Transitional period</strong></em></span></p><p>  For existing trust companies and trust managers there is a 120-day transition period. A person will be deemed to own the relevant license as of March 1, 2018, if before that date it provided corporate or trust services in Hong Kong and possessed a valid business registration certificate for these purposes. But such a license will be valid only until June 29, 2018. Person must apply for a new license for the provision of high-grade corporate and / or trust services during these 120 days.</p><p> </p><p><span style=\"text-decoration: underline;\"><em><strong>Implementation of the new TCSP mode</strong></em></span></p><p>  To facilitate the introduction of a new licensing regime, the Hong Kong Register of Companies created a new service – Registry for Trust and Company Service Providers. The registrar started work immediately and a new website was created to provide additional information regarding the new licensing regime.</p><p>  Also, the Registrar of Companies published a circular on the new regulation regime for providers of trust and corporate services and prepared answers to frequently asked questions. From March 1, 2018, applicants for TCSP licenses can submit applications electronically on the website.</p><p> </p><p><span style=\"text-decoration: underline;\"><em><strong>Register of persons with significant control</strong></em></span></p><p>  Another important change was the amendments adopted on January 24, 2018 to the Hong Kong law on companies that impose an obligation for all Hong Kong companies to maintain «Significant Controllers Register». This register introduction is aimed at strengthening the transparency of information on the beneficiaries of Hong Kong companies. It should be noted that the Register of persons with significant control is a strictly internal corporate document of companies registered in Hong Kong. That is, these data will not be reduced to a single centralized base and will not be publicly available (in contrast to the UK and some other countries). The company is obliged to provide access to its registry only to local government bodies at their request.</p><p>  All companies \"formed and registered\" in accordance with the Hong Kong Companies Regulations, including charities, financial institutions, idle companies, limited companies, and any other types of companies that are registered in Hong Kong, except for companies that are listed on the exchange, and foreign companies that are registered in accordance with Part 16 of the Hong Kong Companies Regulations.</p><p>  A natural or legal person is considered a \"person with significant control\" if it meets one or more of the following criteria:</p><ul><li>directly or indirectly owns more than 25% of the shares of the Hong Kong company, or more than 25% of the company\'s capital (for companies that do not issue shares), or has the right to receive more than 25% of the company\'s profits;</li><li>directly or indirectly exercises more than 25% of voting rights;</li><li>has the right to directly or indirectly appoint and remove the majority of the board of directors of the Hong Kong company;</li><li>may or may exercise significant influence and control over the management of the Hong Kong company in any other way;</li><li>may or may exercise significant influence and control over another company or trust, which in turn conforms to the previous four criteria.</li></ul><p>  Persons with significant control will be required to provide the following information:</p><ul><li>full name (in the case of a legal entity - the official name);</li><li>passport number or other identification document (in the case of a legal entity - registration number);</li><li>address of residence (in case of a legal entity - country of registration and legal address);</li><li>date from which the person received significant control over the company;</li><li>description of the legal nature of this control (as it is carried out).</li></ul><p> </p><p><span style=\"text-decoration: underline;\"><em><strong>How to prepare SCR?</strong></em></span></p><p>  Any company subject to the SCR regime is obliged:</p><ul><li>identify their own persons with significant control;</li><li>send them written notification of the request for the necessary data (or confirmation of information) within 7 days after March 1, 2018;</li><li>Enter the date of notification in the SCR;</li><li>to enter the information received in SCR within 7 days after receiving it from a person with significant control and the date of receipt of notification from them (in case the confirmation was not received within the period of one month established by law).</li></ul><p>  Also the company is obliged to monitor the relevance of information in SCR:</p><ul><li>send a notice to a person within 7 days, knowing (or having reasonable grounds to believe) that a particular legal or natural person is a new person with significant control; in the case where the identity of a new person with significant control is unknown, it is necessary to send a notice to a third party that the company believes knows a person with significant control;</li><li>to enter information within 7 days after receiving confirmation of the person with significant control (or negative approval, if appropriate).</li></ul><p>  The register of persons with significant control must be kept in English or Chinese at the registered office of the Hong Kong company or in another prescribed place in Hong Kong. The company must inform the Registrar of the place where the SCR is stored, within 15 days after its creation or any change in the place of its storage.</p><p> </p><p><span style=\"text-decoration: underline;\"><em><strong>Hong Kong is becoming more transparent</strong></em></span></p><p>  In addition to these changes, on February 2, 2018, the regular amendments to the Ordinance on domestic incomes were published in the Hong Kong official government publication. These changes will allow Hong Kong to implement the Convention on Mutual Administrative Assistance in Tax Matters and will ensure more effective implementation of automatic information exchange on tax issues.</p><p>  Technical amendments that relate to automatic exchange (paragraphs 5-11) do not introduce significant changes to the requirements for financial organizations to conduct inspections against customers. Since financial organizations need time to establish their systems for collecting, analyzing and communicating information, these amendments will come into force later, on January 1, 2019. In other words, the current provisions of the local legislation on automatic exchange of financial organizations will have to apply until mid-2019 (with regard to information on customer accounts for 2018), and updated - with respect to information for 2019 and beyond. The remaining amendments entered into force on the day of publication.</p>','posts/gonkong-megapolis-zdaniya-neboskryoby-bc2bbb4.jpg','trust-and-company-regulatory-regime',NULL,NULL,'PUBLISHED',0,'2018-05-29 15:00:00','2021-11-25 16:56:25',98),(48,1,2,'Private Limited Company in Singapore and its service',NULL,'This article will be your guide - detailed and comprehensive for the incorporation and maintenance of a private limited company in Singapore. Let\'s start with the forms of business organization in Singapore.','<p>This article will be your guide - detailed and comprehensive for the incorporation and maintenance of a private limited company in Singapore. Let\'s start with the forms of business organization in Singapore.</p><p></p><p><em>There are two main forms of business organization in <em>Singapore</em>:</em></p><ol><li>Public Company;</li><li>Private Company.</li></ol><p></p><p></p><p><em>The main types of companies in Singapore are the following:</em></p><ol><li>Private Limited Company – no more than 50 shareholders - individuals or legal entities.</li><li>Exempt Private Company – no more than 20 shareholders - individuals.</li><li>Public company limited by shares – open joint-stock company (maximum number of shareholders is not limited).</li><li>Public company limited by guarantee – open company limited by guarantee. Such a company doesn\'t have an authorized capital. To repay the obligations of the company, its participants undertake to pay the agreed amount in the event of the dissolution of the company. Such companies are created to conduct non-commercial activities. It can be public organizations, charitable institutions, etc.</li></ol><p> </p><p><span style=\"text-decoration: underline;\"><em><strong>OVERVIEW for a Private Limited Company in Singapore</strong></em></span></p><p>  Private Limited Company – the most popular form of business organization in Singapore. Unlike such forms of business organization as private entrepreneurship and partnership, this company has a separate legal status from its shareholders and directors, whose liability for the company\'s obligations is limited by the amount of contribution to the authorized capital of the company.</p><p>  At the end of a private limited company name, you will always find an indication that this company is private, and that the liability of participants is limited. For this purpose, the phrases \"Private Limited\" (in English) or \"Sendirian Berhad\" (in Malay) are used. Abbreviations are also used (\"Pte. Ltd.\" or \"Sdn. Bhd.\").</p><p>  The table below shows the features and advantages of the Singapore Private Limited Company.</p><table border=\"1\" cellspacing=\"0\" cellpadding=\"0\"><tbody><tr><td width=\"149\" valign=\"top\"><p><em>Features</em></p></td><td width=\"474\" valign=\"top\"><p>- a legal entity is separated and different from its shareholders and directors;</p><p>- partners have limited responsibility;</p><p>- can file a claim in court and act as a defendant in its own name;</p><p>- can own real estate;</p><p>- a minimum of 1 and a maximum of 50 shareholders;</p><p>- only the established company can enjoy exemption from taxes.</p></td></tr><tr><td width=\"149\" valign=\"top\"><p><em>Advantages</em></p></td><td width=\"474\" valign=\"top\"><p>- shareholders are responsible for the obligations of a Private limited company solely within the limits of their contribution to the Company\'s share capital; other personal assets of shareholders do not participate in economic disputes of the Private limited company;</p><p>- property is transferable - any shareholder can realize the shares belonging to him;</p><p>- the law provides for the possibility of increasing the authorized capital and attracting additional financing to the company through contributions of new participants to the authorized capital of the Singapore Private Limited Company.</p><p>- shareholders are not personally liable for the debts and losses of the company;</p><p>- new shareholders can enter into a share at any stage of the company\'s activities;</p><p>- can receive loans from banks and other financial institutions;</p><p>- profits are taxed corporate tax;</p><p>- the company does not terminate its activities in the event of the death of one or more shareholders;</p><p>- there are no restrictions on the term of the company;</p><p>- the Singapore Companies Act provides clear and clear rules for the creation and operation of Private Limited Companies in Singapore.</p></td></tr><tr><td width=\"149\" valign=\"top\"><p><i>Other benefits (some consider their shortcomings)</i></p></td><td width=\"474\" valign=\"top\"><p>- not cheap cost of incorporation;</p><p>- annual returns and Directors\' report is mandatory;</p><p>- the company must have a minimum of 1 director and a minimum of 1 secretary, usually residing in Singapore;</p><p>- Directors are required to disclose information on their participation - the proportion of ownership of shares;</p><p>- administrative costs are not expensive, operational costs for the maintenance of the company too;</p><p>- in the event of termination of activities, voluntary liquidation of the company is required;</p><p>- should cooperate with ACRA / IRAS.</p></td></tr><tr><td width=\"149\" valign=\"top\"><p><em>Requirements</em></p></td><td width=\"474\" valign=\"top\"><p>- at least 1 shareholder (natural or legal person);</p><p>- at least 1 director (only individuals over 18 years of age);</p><p>- minimum 1 director - resident of Singapore;</p><p>- at least 1 company secretary;</p><p>- the minimum initial paid share capital is $ 1;</p><p>- the address of the registered office in Singapore.</p></td></tr></tbody></table><p>  For applicants who claim to receive EntrePass, it is required to pay a minimum of $ 50 000 share capital.</p><p> </p><p><span style=\"text-decoration: underline;\"><em><strong>Taxation of Singapore Private Limited Company</strong></em></span></p><p>  In the first three years of activity, the first 100,000 Singapore dollars of profits are exempt from taxation, and half of the subsequent 200,000 dollars of profits are exempt from taxation.</p><p>  For companies over three years, 75% of the first 10,000 dollars of taxable profit and 50% of the subsequent 290,000 dollars of the taxable profit of the Singapore company are exempted. That is, with the first 300 000 Singapore dollars, the company pays only $ 25075 of profit tax.</p><p> </p><p><span style=\"text-decoration: underline;\"><em><strong>Incorporation of Singapore private limited company</strong></em></span></p><p><i>  What you need to know before incorporation</i></p><p>  The name of the Singapore Private Limited Company: the name must be approved by the ACRA before the incorporation of the Singapore company. ACRA will reject the proposed company name under the following conditions:</p><p>-  name is identical to another existing company name;</p><p>-  name is undesirable;</p><p>- contains words forbidden to use (today it is the word \"Temasek\" - the name of the ancient state on the territory of modern Singapore).</p><p> </p><p>  Shareholders of the Singapore Private Limited Company: at least one shareholder is required - a legal entity or an individual. The director and the shareholder may be one person or different persons. The Singapore Companies Act allows a minimum of 1 and a maximum of 50 shareholders. These shareholders are publicly available.</p><p> </p><p> Resident Directors of the Singapore Private Limited Company: A Singapore Private Limited Company must have a minimum of one director, \"resident in Singapore\" (local director, resident director). A Singapore resident, \"PR\" (\"permanent resident\") or a person residing in Singapore on the grounds of Employment Pass / EntrePass or Dependant Pass can act as a resident director.</p><p> </p><p>  There are no restrictions on the number of additional local and foreign directors for the Singapore Private Limited Company. Requirements for the director: the age of at least 18 years, not bankrupt, without a criminal past in the past. Information about the directors is publicly available. Directors may be shareholders, and vice versa.</p><p> </p><p>  Secretary of a Private Limited Company: the secretary must be an individual, \"usually resident in Singapore.\" The Singapore Companies Act requires companies to appoint a secretary within six months from the date of registration of the company.</p><p> </p><p>  Share capital / Paid-up capital of the Singapore Private Limited Company: The minimum paid-up capital for the Singapore company registration is S $ 1 or its equivalent in any currencies. Shares of Singaporean companies do not have a nominal value.</p><p>  Shares to bearer (\"Bearer\") are not allowed. Share capital or paid-up capital may be increased at any time after the incorporation of the company is completed.</p><p>  Registration address of the Singapore Limited Company: any company registered in Singapore must have a registered address. It must be a real address, not a PO Box.</p><p> </p><p><span style=\"text-decoration: underline;\"><em><strong>Opening of a corporate bank account</strong></em></span></p><p>  Once the company is incorporated, it can open a corporate bank account with a Singapore bank or a foreign bank. To open an account with a Singapore bank, a foreign director of a Singapore company must personally visit the bank\'s office in Singapore.</p><p> </p><p><span style=\"text-decoration: underline;\"><em><strong>Post-corporation of a Singapore private limited company</strong></em></span></p><p>  Licenses and permits of the Singapore Limited Company: some businesses are licensed government agencies in Singapore. Once your company is registered, it will not be able to begin operations until it receives the necessary authorization or license from the responsible government body. International trade and / or provision of licensing services don\"t require.</p><p>  Opening hours for registered Singapore Private Limited Company: your company must have a registered office, and the office must be open for visits for at least 3 hours a day during working hours during the daytime on working days.</p><p>  The registration number of the Singapore Private Limited Company: Unique Entity Number is issued by ACRA and must be present on all outgoing documentation, invoices and other documents used for business communications.</p><p>  Singapore Goods and Services Tax: Goods and Services Tax (GST) is a tax on the consumption of goods and services in Singapore and the import to Singapore. Goods exported from Singapore and an international service that is carried out from Singapore are exempt from GST. The GST rate is 7%.</p><p>  All Singapore companies must register for GST if the proceeds from the sale of goods and services levied by GST exceed 1 million Singapore dollars per year. The registration of the tax payer in Singapore must be completed within 30 days from the moment the threshold is reached.</p><p>  You can also register for GST voluntarily. Approval for voluntary registration at the discretion of the Dispatcher in the IRAS. Once the approval is received, you must be registered as a payer of this tax for at least two more years.</p><p>  Singapore Private Limited Company registration for the payment of contributions to the Central Provident Fund (CPF): this is a mandatory pension fund scheme in which the employer and employee contribute a monthly salary to the fund. The employer must pay contributions for all local workers - Singaporean citizens or temporary residents earning more than S $ 50 per month.</p><p>  The maximum CPF contribution for the employer and the employee is 14.5% and 20%, respectively, and may be lower depending on certain factors, such as employee age, permanent resident status, etc. Contributions to the CPF are paid by citizens of Singapore and persons with the status of \"usually resident in Singapore\" (\"permanent resident\"). Foreign employees do not pay contributions to the CPF.</p><p>Recently, more and more businessmen from the CIS countries - Russia, Ukraine, Kazakhstan, are striving to work with private limited companies registered in Singapore. Singapore companies are ideal for those who want to put our ears to the ground of their foreign business. For a number of options, Singapore companies send Hong Kong straight to the knockout.</p>','posts/22.jpg','private-limited-company-in-singapore',NULL,NULL,'PUBLISHED',0,'2018-05-29 22:30:00','2021-11-25 16:59:52',139),(49,1,2,'5 reasons for opening Head office of an international company in Singapore',NULL,'Развитая инфраструктура, благоприятный экономический климат, огромное количество квалифицированных специалистов, стратегическое расположение и налоговая политика – все эти определения описывают Сингапур. Благодаря этим достоинствам страна привлекла более 7000 транснациональных компаний для ведения деятельности в Азиатско-Тихоокеанском регионе через Сингапур.','<p>A well-developed infrastructure, a favorable economic climate, a huge number of qualified specialists, a strategic location and a tax policy - all these definitions are described by Singapore. Thanks to these advantages, the country attracted more than 7,000 transnational companies to conduct business in the Asia-Pacific region through Singapore.</p><p>The last of the companies that chose the location of Singapore\'s headquarters was GM - the company moved from its main office in China to its headquarters in Singapore.</p><p>Next, we want to present to your attention the reasons why international companies choose Singapore.</p><p><span style=\"text-decoration: underline;\"><em><strong>Incentives to create a presence in Singapore</strong></em></span></p><p>The Department of Economic Development offers incentives for regional headquarters apartments (RHQ) and international headquarters apartments (IHQ). Companies that are RHQ status holders can take advantage of Singapore tax credits at a 15% tax rate for up to 5 years for incomes that arise as a result of operations and operations from Singapore.</p><p>Companies with IHQ status can use a more attractive tax rate from 0% to 10%. Regional headquarters of the apartment, which use Singapore as a holding to protect intellectual property, may receive partial depreciation to cover the costs associated with the protection of intellectual property.</p><p>In Singapore, the territorial principle of taxation is used, which means that holding companies and headquarters located in Singapore can repatriate dividends from their direct foreign subsidiaries to Singapore without any taxation. The same companies that are involved in the main types of economic activities, but can not comply with the qualification conditions for exemption from taxation, can apply for exemption from taxes on an ad-hoc basis.</p><p> </p><p><span style=\"text-decoration: underline;\"><em><strong>Attractive taxation system</strong></em></span></p><p>Singapore also has a progressive tax rate, which is designed to stimulate business and the business environment. Rates of corporate taxes and taxes for individuals can be from 0% to 20%. There is no capital gains tax in Singapore. Similarly, the government offers every company registered in Singapore an automatic 400% reduction in the tax burden or an annual return of 60% for investment under the Productivity and Innovation Credit (PIC) scheme. It is also important to note that, thanks to this scheme, the government motivates entrepreneurs to register intellectual property. This can be explained by the fact that Singapore offers an excellent environment for the protection of intellectual property.</p><p> </p><p><span style=\"text-decoration: underline;\"><em><strong>Singapore International and Trade Agreements</strong></em></span></p><p>Singapore can also offer entrepreneurs a large number of free trade agreements, as well as agreements to avoid double taxation - a total of 71 agreements. These agreements not only facilitate cross-border trade, but also protect investors in Singapore.</p><p> </p><p><span style=\"text-decoration: underline;\"><em><strong>Global trade program \"GTP\" of Singapore</strong></em></span></p><p>Singapore offers preferential tax rates for a three-year, non-renewable period for fast-growing mid-sized trading companies that have chosen Singapore as their regional base for business activities. During this period, companies can create and develop their regional or global trading network, with Singapore as their trading base. After companies are able to show steady growth in accordance with GTP requirements - the requirements for the company\'s turnover and business expenses, they will be able to apply for a five-year renewable period under the GTP program.</p><p> </p><p><span style=\"text-decoration: underline;\"><em><strong>The system of combining preferential taxation of foreign income (FTC) in Singapore</strong></em></span></p><p>Singapore introduced a new system of preferential taxation of foreign income for residents of taxpayers, allowing to combine benefits for foreign income, if the requirements are met. Foreign income must meet all of the following requirements:</p><ul><li>The profit tax must be paid in the jurisdiction from which it was received;</li><li>The tax rate in foreign jurisdictions must be at least 15% at the time of making a profit in Singapore;</li><li>Your foreign income must be taxed in Singapore;</li><li>And you have the right to claim the FTC in accordance with sections 50, 50A or 50B in the Income Tax Act.</li></ul><p>This federation system provides greater flexibility for taxpayer residents in Singapore, thereby reducing taxes paid from foreign incomes.</p><p> </p><p>In conclusion, we can say that Singapore is one of the most financially stable jurisdictions in the world. It is located in the heart of Asia and is the hub for commercial activities in this region. Due to the many incentives for companies and employees, the headquarters in Singapore can become one of the best business solutions ever made by multinational companies.</p><p></p><p style=\"text-align: center;\"><em>If you have any questions, <strong>Castle Family Office</strong> specialists are ready to answer them! Write to us at: <strong><em><span face=\"Calibri\" size=\"3\"><span lang=\"EN-US\"><span face=\"Calibri\" size=\"3\"><a href=\"mailto:info@castle-familyoffice.sg\">info@castle-familyoffice.sg</a></span></span></span></em></strong> </em></p>','posts/1455180883_arenda-ofisa-singapur.jpg','5reasons-for-opening-head-office-in-singapore',NULL,NULL,'PUBLISHED',0,'2018-05-30 02:00:00','2021-11-25 16:56:22',108),(50,1,2,'Russian business in Singapore',NULL,'In this city-state there are about 6 million inhabitants, most of whom are happy to be here, enjoy life and work. Of course, being a modern business center Singapore attracts a lot of people just for the sake of creating their company or for finding a workplace in someone else\'s structure. The same thing happens with the Russians.','<p>In this city-state there are about 6 million inhabitants, most of whom are happy to be here, enjoy life and work. Of course, being a modern business center Singapore attracts a lot of people just for the sake of creating their company or for finding a workplace in someone else\'s structure. The same thing happens with the Russians.</p><p>According to various estimates, there are from two to four thousand people from Russia who work and create Russian business in Singapore. As elsewhere, the real owners and businessmen are a small part - the global practice speaks of 5% or less of the total population. In Singapore, this figure may be slightly higher in general, but according to the Russian-speaking population,% of business owners are less.</p><p>However, this doesn\'t prevent really serious people from creating a business in Singapore, taking advantage of all the advantages of this territory. Natives of Russia are engaged in a variety of areas: there are Russian magazines in Singapore, there are advertisers, there are IT specialists and companies, there are designers and tour companies. As elsewhere, everyone is looking for a niche that will attract customers and money.</p><p>In addition to different directions, Russian business in Singapore takes various forms and in terms of the owners location: someone works directly on the spot, being both the owner and the manager of the company, solving practical tasks every day; but there are those who work as an investor, investing money in a local enterprise, but at the same time staying in their country or anywhere else in the world.</p><p>You can choose any option that suits you best, because it\'s good to do business in Singapore, although physically on the island, though \"virtually\" - it\'s comfortable. The government of Singapore has done everything to create business quickly, development didn\'t interfere, and the return began as quickly as possible.</p><p>For creating a Russian business in Singapore, like any other, you can literally in a couple of hours - if there is no need for special licenses and your name meets certain requirements. The statutory fund can equal 1 Singapore dollar, which allows you to create a business for everyone.</p><p>Another thing is that it will not be necessary to work from this - business is business. However, almost all former Russian residents say that working in Singapore is convenient and comfortable. The business center is relatively small, the companies are concentrated inside it. You can hold business meetings very quickly, at the same time dropping in for a snack at attractive prices. Combining rest with work is generally a normal business here: massage parlors, affordable restaurants with a wide variety of cuisine, the ubiquitous good Wi-Fi - you can not get out of working condition, while not overloading the body with loads and hardships.</p><p>Many who are accustomed to working in large Russian cities will be surprised at the relaxed calm and confident slowness with which many things are done here. You can even complain in person that you work too fast! Funny, but as it is - the equator, the warm weather and comfortable conditions do their job.</p><p>At the same time, Singapore is a rapidly developing market that is hungry to the gold arms and heads, while appreciating all the dignity, offering chic conditions for implementation. High-class specialists are required for every enterprise, as do world-class businessmen. It is not for nothing that all conditions have been created for conducting international business: transparency, low taxes, especially at the start, the speed of the administrative apparatus. At the same time, there is no so-called bank secrecy, information closures and other things, which many expect from \"Asian Switzerland\". Here they prefer to work openly and transparently, with a return, so that every dollar earned (and there can be as many of them as possible) is clean.</p><p>Russian business has not yet fully understood what prospects are opening before it, when working with Singapore. Apparently affects the desire for the past decades to hide, close all his own, so that no one has learned anything - otherwise they will be taken away. Here you are free.</p><p>As you have already understood, starting a Russian business in Singapore is quite simple - at least from a technical point of view and financial investments. Finding your niche is a little more complicated, but this question is everywhere. Singapore loves novelty, unusual things, good quality. Someone is engaged in importing wines from Georgia, someone prefers to buy Russian construction materials. The retail sector is actively developing, opening opportunities for everyone.</p><p> </p><p>Also, Singapore will be an excellent place for the preservation of intellectual property, scientific research results and technical solutions. Here, even on the security of intellectual property, you can get a loan! At least such a program was launched by the local government together with banks.</p><p>If you want to take delivery of goods around the world and open a trading company, Singapore also offers excellent facilities, including easier access to China. And since this state (in the sense, China) is still the main industrial forge of the world, it is possible to produce anything, as well as deliver to anywhere in the world.</p><p></p><p></p><p style=\"text-align: center;\"><em>If you have any questions, <strong>Castle Family Office</strong> specialists are ready to answer them! Write to us at: <strong><em><span face=\"Calibri\" size=\"3\"><span lang=\"EN-US\"><span face=\"Calibri\" size=\"3\"><a href=\"mailto:info@castle-familyoffice.sg\">info@castle-familyoffice.sg</a></span></span></span></em></strong> </em></p>','posts/Visa.jpg','russian-business-in-singapore',NULL,NULL,'PUBLISHED',0,'2018-05-31 01:30:00','2021-11-25 16:56:22',150),(51,1,2,'Company in Singapore. External Factors that Affect a Business',NULL,'The registration of a company in Singapore can bring to the founder great benefits, improving the reputation and enabling the expansion throughout the Asian continent. The country is characterized by financial stability and loyal legislation, which allows non-residents from different countries to establish business in Singapore without unnecessary bureaucratic delays.','<p>The registration of a company in Singapore can bring to the founder great benefits, improving the reputation and enabling the expansion throughout the Asian continent.</p><p>The country is characterized by financial stability and loyal legislation, which allows non-residents from different countries to establish business in Singapore without unnecessary bureaucratic delays.</p><p>It\'s no secret that the company success depends on many factors. Among the most important are registration country and preparation degree of the future entrepreneur.</p><p>  </p><p>  </p><pre style=\"font-family: Georgia, \'Times New Roman\', Times, serif; font-size: large; font-style: italic; line-height: normal; font-weight: bold; color: #9b7d63; text-align: center;\">Business would therefore start in Singapore</pre><p>Singapore is recognized as one of the best countries in the Asia-Pacific region and the world for doing business and one of the most competitive economies. Thanks to a competent approach to intellectual property, namely, as an invaluable asset, the country provides the highest level of protection of intellectual property: 1st place in the ranking in Asia and 2nd in the world. Add here the title of the best country in the world for investment and the title of the most transparent country in Asia for an honest and transparent approach in resolving business problems, and also, the status of the least bureaucratic Asian country.</p><p>There are 4 official languages in the country: English, Malay, Tamil and the synthesis of Chinese dialects - Putonghua. Chinese and English are the most common. Also in Singapore there is already a lot of Russian-speaking population, which facilitates the process of doing business with Russia.</p><p>Singapore can be used as a gateway to enter the markets of Southeast Asia. Also a plus is the fact that Changi airport and country\'s seaport are some of the busiest in the Asia-Pacific region. The main trading partners are Malaysia, Hong Kong, Indonesia, China, USA, South Korea and Japan.</p><p>Singapore is one of the most advanced telecommunications centers in the world, offering an excellent infrastructure for international communications. In addition, Singapore is the world leader in the design and implementation of e-government. The wide range of corporate technologies offered by Singapore\'s information and communication companies, including payment systems, solutions in the field of corporate services, business intelligence, security systems, data storage and processing, facilitates the process of doing business in the country.</p><p>In Singapore, one of the lowest corporate tax rates among other onshore jurisdictions in the world, namely 17% (with additional substantial benefits). There is no capital gains tax, which allows companies to develop and achieve liquidity. There is no tax on dividends received by shareholders due to a single-level taxation system, and the quasi-territorial principle avoids the taxation of profits when transferring it to a foreign account.</p><p></p><div style=\"text-align: center;\"><pre style=\"font-family: Georgia, \'Times New Roman\', Times, serif; font-size: large; font-style: italic; line-height: normal; font-weight: bold; color: #9b7d63;\">Factors for the success</pre></div><p>Success in business regardless of jurisdiction is affected by the preparedness degree of the future businessman, namely:</p><ol><li class=\"justifyleft\">Availability of sufficient industry knowledge and skills.</li><li class=\"justifyleft\">Ability to objectively assess the level of sectoral competition in the selected market, allowing to identify opportunities and threats and to develop strategies for successful business and attracting customers.</li><li class=\"justifyleft\">Ability to study and assess the risks associated with the chosen type of business. After identifying the potential risks, it is necessary to develop strategies for countering them.</li><li class=\"justifyleft\">Ability to calculate the minimum capital to start a business and support its operation until the first profit. Please note that there is still a risk of exceeding costs and costs of a more established minimum, as a result of which the company may be forced to close.</li><li class=\"justifyleft\">Ability to make a forecast of income and expenses for assessing the company\'s financial health. Without this ability, business in the long term is doomed to failure.</li><li class=\"justifyleft\">Ability to identify potential customers and make a strategy to maintain their interest in the company by improving the product / service to meet the high demands of the consumer.</li><li class=\"justifyleft\">Talent to determine the optimal location for the business by analyzing demographic data, traffic pattern data, lifestyle data and competitors to determine the location of the main gathering of potential customers.</li><li class=\"justifyleft\">Ability to choose an effective supply platform for goods / services to effectively deliver information about them to consumers.</li><li class=\"justifyleft\">Ability to investigate public policy and monitor this policy independently or with the help of professional advisers in relation to the chosen field of business. You need to know the rules and regulations of regulatory legal acts to prevent fines and other sanctions against the company that hinder business development.</li><li class=\"justifyleft\">Drawing up long-term plans for the development and prosperity of business.</li></ol><p> </p><p>Finding the appropriate jurisdiction for international business is always a difficult task. Businessmen should choose the best combination of different criteria - otherwise, they risk their business.</p><p>Obviously, Singapore meets all the requirements of businessmen who decided to register an offshore company. Most importantly, Singapore is today the safest, private and well-regulated banking center. Although the country recently agreed to follow the guidelines of the US and European tax regulators, it still adheres to its own rules governing the confidentiality of banking transactions.</p><p></p><p style=\"text-align: center;\"><em>If you have any questions, <strong>Castle Family Office</strong> experts are ready to answer them! <strong><em><span face=\"Calibri\" size=\"3\"><span lang=\"EN-US\"><span face=\"Calibri\" size=\"3\"><a href=\"mailto:info@castle-familyoffice.sg\">info@castle-familyoffice.sg</a></span></span></span></em></strong> </em></p>','posts/si.jpg','company-in-singapore-external-factors',NULL,NULL,'PUBLISHED',0,'2018-05-31 02:00:00','2021-11-25 16:56:20',169),(52,1,2,'Company\'s efficiency depends on its leader',NULL,'9 out of 10 leave the business if there are no necessary qualities for the future entrepreneur, incorrect calculations of his expenses, etc. already in the first years of the company\'s existence. What character traits should a future manager have to start his business in Singapore and achieve success and prosperity?','<p>9 out of 10 leave the business if there are no necessary qualities for the future entrepreneur, incorrect calculations of his expenses, etc. already in the first years of the company\'s existence. What character traits should a future manager have to start his business in Singapore and achieve success and prosperity?</p><p style=\"text-align: center;\"><span style=\"font-family: Georgia, \'Times New Roman\', Times, serif; font-size: large; font-style: italic; line-height: normal; font-weight: bolder; color: #688297; text-decoration: blink;\">Company in Singapore <span>will achieve high results </span>in the hands of a successful entrepreneur<br /></span></p><p><strong>Responsibility</strong> and <strong>foresight</strong> are the main qualities of a successful businessman. Without them it is impossible to achieve profitability. What worker unlike the Head? Why all people are don\'t endeavour to establish a business, and not all turns out to be successful? <span>One reason for this is lack of willingness to take responsibility. Businessman should be responsible for acts committed by him and his staff.</span> The second reason is the lack of ability to see your business as a whole and to be able to foresee the actions of hired workers, partners, competitors and customers. The businessman should constantly study and analyze the information and statistical data, the latest trends and new technologies. Thus, a visionary leader can prevent unforeseen circumstances that could lead to the collapse of his company.</p><p>From this follows next two important personal qualities: <strong>observation</strong> and <strong>determination</strong>. With a constant analysis of the situation, the supervisor will always be able to mark changes in customer preferences in time, and the determined businessman will not be afraid to risk and react to this earlier than competitors, therefore, to launch relevant products or services on the market with minimal expenses.</p><p>However, even the most determined businessman should be <strong>cautious</strong>. The hardness of the character is good, but rash hasty decisions can lead to the collapse of the company. Therefore, it is necessary to carefully consider each step, but not to delay it.</p><p>To stand out from the competition and succeed your product or service must be <strong>original</strong>. It doesn\'t mean the know-how invention, just enough to finalize existing goods / services in accordance with the chosen niche preferences of potential customers. On the other hand, the key to business success is <strong>innovation</strong>. If you want to succeed, it\'s worth keeping an eye on market changes and adapting to them using new technologies. For example, in Russia, almost half of companies and individual entrepreneurs don\'t use the opportunities provided by the Internet. As a result, they lose customers and don\'t earn a profit. Do not repeat their mistakes. Let\'s consider one more example - the firm engaged in manufacture of the goods. If you don\'t update the equipment, don\'t use the latest developments and modern materials, the quality of the product will be significantly lower than the similar ones, and its production is more expensive.</p><p>Without lucrative business lucrative, profitability for businesses cann\'t be seen. The main component in any discussion of the terms of cooperation is the ability to submit yourself and your business. In addition, the manager should constantly look for new contacts, and you can meet a potential business partner everywhere. Business isn\'t so predictable. Therefore, we discard sullenness and silence and learn to build interesting dialogues, since the <strong>sociability</strong> of the leader is the keystone to the company\'s success.</p><p>The next two qualities - <strong>purposefulness</strong> and <strong>focus on the main thing</strong> - are interrelated. If you want to become a successful entrepreneur, you should develop these qualities in yourself first. Without purposefulness, the first obstacle on the long path to profitability and success will lead to the collapse of one\'s business, since only a single-minded person will be able to break through it and go further, and not give way to the will of circumstances, drop hands and close his business. On the other hand, business is a constant work, but you need to be able to focus on solving priority problems, that is, you need to learn how to prioritize. Only in this case, in conjunction with purposefulness, you can achieve positive results of your work. After all, you won\'t waste your time on unimportant and insignificant cases, but dedicate it to solving global issues that bring profit. Deep analysis of their work with the subsequent delegation for a number of small tasks to another person will help to free up time and increase the case profitability.</p><p>In conclusion, I would like to say more about the quality of a successful businessman, such as <strong>flexibility</strong>. You need to be able to assess the current situation under a different view and, if necessary, change the tactics. In other words, if customers don\'t like your product / service, you need to analyze the claim and release a modified product to the market. The ability to adapt and change is the key to success and competitiveness.</p><p>If you don\'t have any quality listed, then you shouldn\'t despair and give up your dream. <span>You just have to </span><span>fudge it a little on</span> yourself, develop missing character traits and start to achieve the goal - a successful and prosperous business.</p><div style=\"text-align: center;\"><address style=\"font-family: Georgia, \'Times New Roman\', Times, serif; font-size: large; font-style: italic; line-height: normal; font-weight: bolder; color: #688297; text-decoration: blink;\">B<span>usiness </span><span>success secrets of the company in Singapore</span></address></div><p>Presence of all leader necessary qualities doesn\'t guarantee 100% company success. Therefore, we have prepared several more recommendations for you:</p><ol><li><span>Examine recent trends</span>. Knowing the theory about marketing and doing business, all about your niche is good, but over time they become obsolete, which means they lose relevance. That the new company in Singapore doesn\'t go bankrupt in the first year of its activity, observe the market, communicate with potential customers or partners. In other words, update your knowledge base.</li><li>Define your market in Singapore and beyond. The Singapore market is very different from other countries. Therefore, you need to clearly determine which market you are going to, study it and adapt it to your product.</li><li>Don\'t ignore the political situation in Singapore. Estimate the country business situation and how it will affect your company. If the legislation changes, you will be able to react in time and reduce material costs and negative consequences.</li><li>Respect and some humility in communicating with partners in Singapore is the key to successful negotiations. It\'s necessary to find \"the Golden Mean\" between perseverance (for example, when discussing the cost of services or raw materials supplied) and courtesy. Don\'t make your partner nervous, angry or embarrassed.</li><li>Avoid hasty conclusions about entrepreneurs in Singapore. Don\'t evaluate a person by his clothes or manner of speaking, the degree of knowledge of English. Appearance can be deceptive, and before you can be a very influential and wealthy person.</li><li>Business lunches in Singapore. To discuss any issues, invite a business partner to lunch at a local restaurant. Also, a joint pastime in a cozy cafe with a potential partner will help in signing a mutually beneficial contract, and establish friendly relations with the person.</li><li>Change your thinking. Managers in Singapore are different from domestic managers. They behave differently, especially when hiring employees. You should consider this if you want to hire skilled and experienced employees.</li></ol><p> </p><p> </p><p>The Singapore Government has developed a series of measures to help start-up companies become successful, establish the necessary connections, obtain financing and implement new ideas.</p><p>Let us add here other advantages of Singapore, like:</p><ul><li>Bureaucracy absence.</li><li>Low crime rate.</li><li>Leading positions in <span>the </span><span>Ease of Doing Business</span><span> rankings</span>.</li><li>High level of rule of law and protection of intellectual property.</li><li>Strategic location.</li><li>Stable economic and political systems.</li><li>High quality of life.</li><li>High prestige of jurisdiction.</li><li>An advanced network of communications, etc.</li></ul><p>It follows that a leader with the necessary personal qualities, following the latest trends and innovations of his market and new technologies, will be able to achieve the success of his business in Singapore.</p><p>  </p><p style=\"text-align: center;\"><em>If you have any questions, <strong>Castle Family Office</strong> experts are ready to answer them! Write to us at <strong><em><span face=\"Calibri\" size=\"3\"><span lang=\"EN-US\"><span face=\"Calibri\" size=\"3\"><a href=\"mailto:info@castle-familyoffice.sg\">info@castle-familyoffice.sg</a></span></span></span></em></strong> </em></p>','posts/image2.jpg','company-efficiency-depends-on-its-leader',NULL,NULL,'PUBLISHED',0,'2018-05-31 02:30:00','2021-11-25 16:56:20',148),(53,1,2,'What Are Structured Products?',NULL,'Structured products are designed to facilitate highly customized risk-return objectives. This is accomplished by taking a traditional security, such as a conventional investment-grade bond, and replacing the usual payment features (e.g. periodic coupons and final principal) with non-traditional payoffs derived not from the issuer\'s own cash flow, but from the performance of one or more underlying assets.','<p><strong>Structured products</strong> are designed to facilitate highly customized risk-return objectives. This is accomplished by taking a traditional security, such as a conventional investment-grade bond, and replacing the usual payment features (e.g. periodic coupons and final principal) with non-traditional payoffs derived not from the issuer\'s own cash flow, but from the performance of one or more underlying assets.<br /> <br /> Payoffs from these performance outcomes are contingent in the sense that, if the underlying assets return \"x,\" then the structured product pays out \"y.\" This means that structured products closely relate to traditional models of option pricing, although they may also contain other derivative categories such as swaps, forwards and futures, as well as embedded features that include leveraged upside participation or downside buffers.<br /> <br /> Structured products originally became popular in Europe and have gained currency in the U.S., where they are frequently offered as SEC-registered products, which means they are accessible to retail investors in the same way as stocks, bonds, exchange traded funds (ETFs) and mutual funds. Their ability to offer customized exposure to otherwise hard-to-reach asset classes and subclasses makes structured products useful as a complement to traditional components of diversified portfolios.<br /><br /> <br /> <em><strong><span style=\"font-size: 18px; text-decoration: underline;\">Looking Under the Hood</span></strong></em><br /> Consider the following example: A well-known bank issues structured products in the form of notes, each with a notional face value of $1,000. Each note is actually a package consisting of two components – a zero-coupon bond and a call option on an underlying equity instrument, such as a common stock or an ETF mimicking a popular index like the S&amp;P 500. Maturity is in three years.<br /> <br /> Figure 1 represents what happens between issue and maturity date.</p><p><img src=\"1.jpg\" width=\"320\" height=\"220\" /></p><p> </p><p>Although the pricing mechanisms that drive these values are complex, the underlying principle is fairly simple. On the issue date you pay the face amount of $1,000. This note is fully principal-protected, meaning you will get your $1,000 back at maturity no matter what happens to the underlying asset. This is accomplished via the zero-coupon bond accreting from its original issue discount to face value.<br /> <br /> For the performance component, the underlying asset is priced as a European call option, and will have intrinsic value at maturity if its value on that date is higher than its value when issued. If applicable, you earn that return on a one-for-one basis. If not, the option expires worthless and you get nothing in excess of your $1,000 return of principal.</p><p> </p><p><span style=\"text-decoration: underline;\"><em><strong style=\"font-size: 18px;\">Custom Sizing</strong></em></span><br /> Principal protection offers a key benefit in the above example but an investor may be willing to trade off some or all protection in favor of more attractive performance potential. Let\'s look at another example in which the investor gives up principal protection for a combination of more potent performance features.<br /> <br /> If the return on the underlying asset (R asset) is positive – between zero and 7.5% – the investor will earn double the return (e.g. 15% if the asset returns 7.5%). If R asset is greater than 7.5%, the investor\'s return will be capped at 15%. If the asset\'s return is negative, the investor participates one-for-one on the downside (i.e. no negative leverage). There is no principal protection.<br /> <br /> Figure 2 shows the payoff curve for this scenario.</p><p><img src=\"2.jpg\" width=\"320\" height=\"195\" /></p><p> </p><p>This strategy would be consistent with the view of a mildly bullish investor – one who expects positive but generally weak performance and is looking for an enhanced return above what he or she thinks the market will produce.</p><p> <br /> <span style=\"text-decoration: underline;\"><em><strong style=\"font-size: 18px;\">The Rainbow Note</strong></em></span><br /> One of the principle attractions of structured products for retail investors is the ability to customize a variety of assumptions into one instrument. For example, a rainbow note is a structured product that offers exposure to more than one underlying asset. A lookback is another popular feature. In a lookback instrument, the value of the underlying asset is based not on its final value at expiration, but on an average of values taken over the note\'s term, for example monthly or quarterly. In the options world, this is also called an Asian option to distinguish the instrument from the European or American option. Combining these types of features can provide attractive diversification properties.<br /> <br /> A rainbow note could derive performance value from three relatively low-correlated assets, like the Russell 3000 Index of U.S. stocks, the MSCI Pacific ex-Japan index and the Dow-AIG commodity futures index. Attaching a lookback feature to this structured product could further lower volatility by \"smoothing\" returns over time.</p><p>  </p><p><span style=\"text-decoration: underline;\"><em><strong style=\"font-size: 18px;\">What About Liquidity?</strong></em></span><br /> One common risk associated with structured products is a relative lack of liquidity due to the highly customized nature of the investment. Moreover, the full extent of returns from complex performance features is often not realized until maturity. For this reason, structured products tend to be more of a buy-and-hold investment decision rather than a means of getting in and out of a position with speed and efficiency.<br /> <br /> A significant innovation to improve liquidity in certain types of structured products comes in the form of exchange-traded notes (ETNs), a product originally introduced by Barclays Bank in 2006. These are structured to resemble ETFs, which are fungible instruments traded like common stock on a securities exchange. However, ETNs are different from ETFs because they consist of a debt instrument with cash flows derived from the performance of an underlying asset. ETNs also provide an alternative to harder-to-access exposures, such as commodity futures or the Indian stock market.</p><p> <br /> <br /> <span style=\"text-decoration: underline;\"><em><strong style=\"font-size: 18px;\">Other Risks and Considerations</strong></em></span><br /> In addition to liquidity, another risk associated with structured products is the issuer\'s credit quality. Although cash flows are derived from other sources, the products themselves are considered to be the issuing financial institution\'s liabilities. For example, they are typically not issued through bankruptcy-remote third-party vehicles in the way that asset-backed securities are. The vast majority of structured products are offered by high investment-grade issuers – mostly large global financial institutions that include Barclays, Deutsche Bank or J.P. Morgan Chase. However, during a financial crisis, structured products have the potential of losing principal, similar to the risks involved with options. As a result, the U.S. Financial Industry Regulatory Authority (FINRA) suggests that firms consider whether purchasers of some or all structured products be required to go through a vetting process similar to options traders.<br /> <br /> Another consideration is pricing transparency. There is no uniform pricing standard, making it harder to compare the net-of-pricing attractiveness of alternative structured product offerings than it is, for example, to compare the net expense ratios of different mutual funds or commissions among broker-dealers. Many structured product issuers work the pricing into their option models to avoid an explicit fee or other expense to the investor. On the flip side, this means the investor can\'t know for sure the true value of implicit costs.</p><p> </p><p><span style=\"text-decoration: underline;\"><em><strong style=\"font-size: 18px;\">The Bottom Line</strong></em></span><br /> The complexity of derivative securities has long kept them out of meaningful representation in traditional retail and many institutional investment portfolios. Structured products can bring many derivative benefits to investors who otherwise would not have access to them. As a complement to traditional investment vehicles, structured products have a useful role to play in modern portfolio management.</p>','posts/61357c4ee4c60f65bd6868008c1da6d2.jpg','what-are-structured-products',NULL,NULL,'PUBLISHED',0,'2018-06-01 02:00:00','2021-11-25 16:56:18',94),(54,1,2,'Why should you pay attention to Singapore\'s banking sector?',NULL,'Singapore is a tiny city-state, the fourth international financial center in the world. Singapore\'s banking sector is considered one of the most stable in the world. As one of the \"Asian tigers\", Singapore achieved significant GDP growth and strengthening of the local currency - the Singapore dollar. Why should we once again turn our attention to Singapore\'s banking sector when choosing a country to open a personal or corporate account?','<p>Singapore is a tiny city-state, the fourth international financial center in the world. Singapore\'s banking sector is considered one of the most stable in the world. As one of the \"Asian tigers\", Singapore achieved significant GDP growth and strengthening of the local currency - the Singapore dollar. Why should we once again turn our attention to Singapore\'s banking sector when choosing a country to open a personal or corporate account?</p><p> </p><pre><b style=\"font-family: Georgia, \'Times New Roman\', Times, serif; font-size: 18px; font-style: oblique; line-height: normal; font-weight: bolder; color: #688297;\"> Banks in Singapore are more reliable than Hong Kong banks?</b></pre><p>According to a recent analysis of loan portfolios (provided by Barclays Bank), the banks of Singapore are more reliable than the banks of Hong Kong.</p><p>The risks of consumer lending in Hong Kong banks are significantly higher than those of banks in Singapore. Loans issued by Singaporean banks receive higher security (investments); same way - the price policy for loans is more stringent than in Hong Kong - for example, the minimum rate for unsecured loans is 11%.</p><p>In addition, the Monetary Authority of Singapore (MAS) has restrictions on the amount of unsecured consumer loans, the maximum amount can be four times the monthly wage. Hong Kong\'s banks issue unsecured consumer loans at low rates of 2-3%, and the maximum amount of consumer credit can be eighteen monthly wages. Also, between the rates on banks deposits in Singapore and Hong Kong, you can see the differences, the maximum rate in Singapore can reach 24% per annum, but in Hong Kong only 14%.</p><p>The stability of Singapore\'s banking system also confirms by successful passage of the stress test from the International Monetary Fund. MAS takes note of all the recommendations of the fund, which came from the audit, including the introduction of measures to prevent the emergence of the credit bubble.</p><pre><b style=\"font-family: Georgia, \'Times New Roman\', Times, serif; font-size: 18px; font-style: oblique; line-height: normal; font-weight: bolder; color: #688297;\">                                                  Constant innovation: the new FAST system in Singaporean banking</b></pre><p>The attractiveness of Singapore\'s banking sector lies not only in bank secrecy and the availability of tax advantages for investors, but also in the high-tech structure of banking - this structure provides clients with enormous convenience in accessing the account. March 17, 2014 in Singapore, was launched a new system \"Fast And Secure Transfers\" - FAST.</p><p>The new system allows interbank operations using a tablet or a smartphone, not just from a personal computer, this service also reduces the time for interbank payments to several minutes, and in the future it is also expected that these transactions will become cheaper.</p><p>Previously, the usual interbank payment in Singapore took up to three days. FAST conducts operations almost instantly and works 24/7. For example, TOR-bank in Singapore - DBS Bank notes that within one hour, customers spend about 39.000 transactions - such a system, of course, is a huge plus for customers.</p><p><span style=\"text-decoration: underline;\">The FAST system includes 14 banks in Singapore:</span></p><ul><li>DBS Bank</li><li>OCBC Bank</li><li>United Overseas Bank</li><li>ANZ Bank</li><li>CIMB Bank</li><li>Citibank</li><li>Deutsche Bank</li><li>Far Eastern Bank</li><li>HSBC</li><li>Maybank</li><li>RHB Bank</li><li>The Royal Bank of Scotland</li><li>Standard Chartered Bank</li><li>Sumitomo Mitsui Banking Corporation</li></ul><p>FAST can be used between the accounts mentioned above, the transfer amount can not exceed 10.000 Singapore dollars in one transaction. FAST payments can only be made in Singapore dollars. The Singapore Banking Association believes that the future of the Fast And Secure Transfers system will be joined by other banks in Singapore.</p><pre><b style=\"font-family: Georgia, \'Times New Roman\', Times, serif; font-size: 18px; font-style: oblique; line-height: normal; font-weight: bolder; color: #688297;\">                                                    Bank secrecy and data protection of clients in Singapore at the highest level</b></pre><p>MAS closely monitors that Singapore banks use the latest and most advanced technologies for protecting customer data and constantly improves the rules for confidential data storage. The banking secrecy in Singapore is strictly observed, and its enforcement is enshrined in legislation. More and more often specialists around the world recognize that Singapore has the most stringent rules regarding bank secrecy. There are serious penalties for non-compliance with bank secrecy in Singapore (for both specific employees and for banks in general), so a sincere interest in maintaining confidential banking information is present in Singapore at all levels Bank secrecy is any information that an employee of the bank learns during the work in the bank.</p><p>Already for many years the banks of Singapore have a reputation as reliable financial institutions, providing their clients with high safety of investments and capital, confidentiality of clients personal data, high services level, a diverse range of services. Opening an account with a Singaporean bank allows you to easily engage in businesses in Southeast Asian countries such as China, Singapore, Indonesia, Malaysia, Thailand, and also to carry out a close partnership with representatives from these countries. Among other things, the Singapore\'s banks are among the largest in the region, have an extensive network of offices both in the region and beyond.</p><p> </p><p> </p><p style=\"text-align: center;\"><em>If you have any questions, <strong>Castle Family Office</strong> specialists are ready to answer them! Write to us at <strong><em><span face=\"Calibri\" size=\"3\"><span lang=\"EN-US\"><span face=\"Calibri\" size=\"3\"><a href=\"mailto:info@castle-familyoffice.sg\">info@castle-familyoffice.sg</a></span></span></span></em></strong> </em></p>','posts/Bank_Singapore.jpg','singapore-banking-sector',NULL,NULL,'PUBLISHED',0,'2018-06-01 02:30:00','2021-11-25 16:56:18',103),(55,1,2,'Singapore or Hong Kong? Where to start a business?',NULL,'This is the most debated issue when the process comes to registering a company in Singapore or Hong Kong. Over the past decades, both jurisdictions have attracted many entrepreneurs with business policies, large-scale infrastructure, a stable legal system and a simple business registration process.','<p><span>This is the most debated issue when the process comes to registering a company in Singapore or Hong Kong. Over the past decades, both jurisdictions have attracted many entrepreneurs with business policies, large-scale infrastructure, a stable legal system and a simple business registration process. </span>Starting your business in any of these countries, you will face the challenges, like language barrier, market access, political and legal features, and the issue of the company registration cost. Anyway, this isn\'t a big deal, only the brave conquer the heights.</p><p>Both Hong Kong and Singapore are a country with legislation of the Commonwealth countries. They are similar to their legal systems, as well as the dominance of Chinese culture. But business and its laws are different, so don\'t forget about it when choosing a country.</p><p> </p><p><span style=\"text-decoration: underline;\"><em><strong style=\"font-size: 16px;\">Consider the principles of doing business in Singapore</strong></em></span></p><p>At the crossroads of international trade routes and the reunification between east and west, Singapore is the best place for living, work and leisure. Singapore isn\'t only the most competitive multi-national megapolis in Asia, but also officially the best place for doing business. Over the past 14 years, Singapore has been the second most excellent investment destination in the world.</p><p>The Singapore government is well aware of its pro-business policies regardless of the global economic situation and crisis. The government is associated with honesty, quality, reliability, productivity, <span>supremacy of the law</span> and the protection intellectual property rights.</p><p>Doing business in this country is a pleasure. Companies benefit from a number of free trader contracts and double tax treaties. Singapore can offer 500 local companies offering financial services and more than 4,500 companies offering audit services, accounting services, consulting services, market research, as well as legal and recruitment services.</p><p>Singapore has enough foreign exchange reserves, and its dollar is pegged at 1:01 to the dollar rate of Brunei (the 3rd largest oil producer in Southeast Asia), which contributes to the stability of the currency and the economy as a whole.</p><p>Another privilege is its location as a center for sea and air transportation. The port is crowded with containers belonging to 200 sea lines, which are sent to 600 ports of 120 countries. Changi International Airport offers 4,000 flights a day to 57 countries around the world.</p><p>Unlike Hong Kong, almost everyone speaks English in Singapore. For the past ten years, the country has modernized the laws, which directly created better protection and risk management, as well as lower legal costs.</p><p>For example, there are still obsolete \"books\" laws in Hong Kong that came from England. Actually, laws in Hong Kong are created and regulated by expensive lawyers. If suddenly there is a problem in your business, it will be easier and cheaper to solve it in Singapore than in Hong Kong.</p><p> </p><p><b><i><span style=\"font-size: 16px; text-decoration: underline;\">And now let\'s move on to business priorities in Hong Kong</span></i></b></p><p>Registration and incorporation of foreign business in Hong Kong is more \"massively\". Registration of a start-up in Hong Kong will be cheaper than in Singapore, since it will not require payment for the services of local directors and payment of related fees that can be applied in Singapore. Similar to other jurisdictions in Hong Kong, it is possible to acquire already registered companies, which exist for years with a view to selling them.</p><p>Equally important is the historical value of Hong Kong, as a business and financial bridge with China. Despite the high cost for legal services, local lawyers can help advice on complex strategic and political relations for your business.</p><p> </p><p>But in spite of everything, it is more acceptable to incorporate business in Singapore. It should also be noted that Singapore has long been establishing trade and economic relations with other countries, and during this time a large number of mutually beneficial agreements were concluded, including Double Taxation Agreement. Singapore signed this agreement with 68 countries, while Hong Kong only from 13. However, the tax system in Hong Kong is also very attractive: there is no indirect sales tax, which in Singapore is 7%, as well as the tax at the source of dividend payment, which is Singapore 15%.</p><p> </p><p>Thus,choose between Singapore and Hong Kong, every entrepreneur should be depending on its purpose, as something that just carried out in Singapore, can be difficult to do in Hong Kong, and, on the other hand, what is feasible in Hong Kong - is not possible in Singapore.</p><p> </p><p style=\"text-align: center;\"><em>If you have any questions, <strong>Castle Family Office</strong> specialists are ready to answer them! Write to us at: <strong><em><span face=\"Calibri\" size=\"3\"><span lang=\"EN-US\"><span face=\"Calibri\" size=\"3\"><a href=\"mailto:info@castle-familyoffice.sg\">info@castle-familyoffice.sg</a></span></span></span></em></strong> </em></p>','posts/Сингапур-или-Гонконг.jpg','business-in-singapore-or-hk',NULL,NULL,'PUBLISHED',0,'2018-06-01 03:30:00','2021-11-25 16:56:16',112),(56,1,2,'Hong Kong companies is a powerful tool for tax strategies',NULL,'Hong Kong is the former dependent territory of Great Britain.  Hong Kong structure includes, firstly, the eponymous island of Hong Kong, and secondly, Kowloon - that is, adjacent territories on the Kowloon peninsula, and, finally, the so-called New Territories. All of them are located in the South China Sea. The name \"Hong Kong\" can be translated as \"Fragrant Harbor\".','<p>Hong Kong is the former dependent territory of Great Britain.  Hong Kong structure includes, firstly, the eponymous island of Hong Kong, and secondly, Kowloon - that is, adjacent territories on the Kowloon peninsula, and, finally, the so-called New Territories. All of them are located in the South China Sea. The name \"Hong Kong\" can be translated as \"Fragrant Harbor\".</p><p>Hong Kong is a very popular jurisdiction for doing business, especially for banking purposes. The Hong Kong company can become a powerful tool for various tax strategies. A lot is known about the fact that Hong Kong is the best place to start business in Asia, that there is no tax on offshore revenues and there is no currency control. And it\'s true, Hong Kong boasts a reliable legal system based on English law, with a world class banking and business infrastructure, and its excellent reputation.</p><p> </p><div><h2><strong>Advantages of Hong Kong companies</strong></h2></div><p>Hong Kong is one of the two largest financial centers in Asia, along with Singapore, which has its own exchange and is very friendly with respect to business. He is the birthplace of most transnational corporations. It supports the free movement of capital, talents, goods and information.</p><p>The basis of the Hong Kong system is English law and in case of any problem, you can count on a logical and honest investigation, as in Western countries. This is consistent with the \"One country, two systems\" principle, which Hong Kong accepted in 1997.</p><p>In Hong Kong, there is no VAT, capital gains tax, inheritance, etc. Revenues received by Hong Kong companies are subject to income tax at a rate of 16.5 percent only if profits are earned in Hong Kong. There is a territorial principle of taxation, rarely found around the world. It means that the profits received by Hong Kong companies outside of Hong Kong are generally exempt from taxation. But this exemption is not granted \"automatically\", this right to receive tax exemption must be confirmed before the tax authorities by providing the relevant documents (this is the work of the auditors who represent the company before the tax authorities when filing tax reports).</p><p>Having a company in Hong Kong, you need to conduct a full accounting (hiring accountants who own the accounting procedure in accordance with the requirements of Hong Kong GAAP), audit and submit tax reports (engaging auditors who have a license to practice in Hong Kong). On the one hand, this may seem to be an invoiced one, but on the other hand - the availability of annual audit reports, books and accounts, payment documents or exemption from taxes, correspondence with tax authorities, plus openness of information on directors and shareholders (if not used nominal service) makes Hong Kong companies prestigious corporate tools recognized around the world. Correctly leading the business of the Hong Kong company will not face the problem of proving the legitimacy of the origin of its capital while further investing its funds or performing other operations (for example, obtaining loans) in European and other countries (there are official documents that confirm the legality and purity of the origin of income). In this respect, Hong Kong companies outperform offshore firms from other jurisdictions.</p><p> </p><div><h2><strong>A company in Hong Kong? Who benefits?<br /></strong></h2></div><p>Consider the situations in which it is profitable to open a company in Hong Kong:</p><p><strong>1. You came from a country that has a Double Taxation Agreement with Hong Kong</strong></p><p>Hong Kong has a lot of complex agreements on avoidance of double taxation with countries such as Canada, United Kingdom, Austria, Belgium, France, Hungary, Ireland, Italy, Mexico, Netherlands, New Zealand, Spain, Luxembourg, Liechtenstein, Japan, Korea, Indonesia, Romania, Portugal, Thailand, and, more recently, Russia. There are a little more than thirty of them.</p><p>Double tax agreement\'s are concluded between countries in order not to tax the same profits twice. This usually refers to passive income (interest, royalties, dividends) earned in one state, and received in another. The contract specifies the country in which the profits received, the tax rate and other conditions are subject to taxation. Having opened a company in Hong Kong, you will be able to structure your business so as to significantly reduce the taxation of your income, paying tax only in Hong Kong at its understated rates.</p><p><em>Example №1.</em> Let\'s say you are from Canada and you want to open a restaurant there. First, you register a company in Canada, and then register a limited company in Hong Kong. Suppose, for the start you need one million US dollars. These funds you charge to the account of the Hong Kong company, after which you lend these funds to a Canadian firm at a reasonable Hong Kong rate. When a business in Canada begins to generate profits, a Canadian firm begins to pay interest to a Hong Kong company, as it lent money. Typically, the income tax in Canada is quite high - about 31 percent (state tax of 15 percent plus provincial taxes from 10 to 15 percent). But the share that is paid to the Hong Kong company is deducted from this profit, and it turns out that you don\'t pay the Canadian profit tax from the share that you send to Hong Kong. This whole structure will ultimately help to save a lot of money, as money accumulates in Hong Kong, and there is no tax on interest income, even from foreign jurisdictions, and you also reduce the income tax payable in Canada.</p><p><em>Example №2.</em> You live in UK and have a publishing company that sells content owned by a Hong Kong company. For example, according to the contract, the British company is obligated to pay 20 percent of the royalty of the Hong Kong company from all sales of content. But between the UK and Hong Kong there is a full tax treaty that limits the amount of taxes, so a British company in compliance with it must pay only 3 percent. In fact, you simply take a significant portion of the profits and transfer it to a low-tax jurisdiction.</p><p><em>Example №3.</em> If you come from a high-tax jurisdiction, you can use the Hong Kong company as the company\'s shares owner in your homeland. For example, if a Hong Kong company owns Canadian shares, the second will pay a profit tax in Canada, but the rest is in Hong Kong. Thus, you move your funds from high-tax jurisdiction to a low-tax jurisdiction, and this is a completely legal method.</p><p><strong> 2. You start a business and decide where to pay some taxes</strong></p><p>It\'s always better when the company pays somewhere at least some taxes, rather than not paying at all. Experienced entrepreneurs are building strategies to minimize tax burdens, but, nevertheless, somewhere they pay some small tax. In modern conditions, tax authorities are constantly looking for companies that don\'t pay any taxes at all, and arrange problems for them. Governments want to see that your company pays a tax. And Hong Kong is an ideal place for this - when it comes to tax write-offs, this jurisdiction is very liberal in this regard.</p><p> <strong>3. You are engaged in international trade or online business</strong></p><p>This scheme is especially suitable for those whose client base is located mainly in Asia. Most often in this case, Hong Kong companies are used as a reseller. The Hong Kong company is an intermediate link between a buyer from one country and a supplier of goods or services from another. The product is directly sent to the buyer by the manufacturer, and the money and documents go through the Hong Kong firm. If you comply with all the conditions of the taxation territorial principle, you can significantly reduce the tax burden. This option is also popular because contractors are more willing to enter into contracts with Hong Kong companies than with offshore companies from other jurisdictions. In particular, the presence of the Hong Kong company makes it much easier to work with China.</p><p> </p><p>It is very convenient for foreigners to register a Hong Kong company, open an account with one of the many famous Hong Kong banks and conduct activities outside its territory: in this case, taxes are not necessary and the money is reliably protected in the Hong Kong accounts. If you are interested, we will help you in opening such a company in Hong Kong. Russian entrepreneurs especially like to use Hong Kong companies to import goods from China and for produce products in China.</p><p>Also, Hong Kong is an unofficial but very important offshore for China, which has a very large volume of foreign trade.</p><p> </p><p> </p><p style=\"text-align: center;\"><em>You can ask a question about doing business in Hong Kong to <em><strong>Castle Family Office</strong> </em>specialists! Write to us at: <strong><em><span face=\"Calibri\" size=\"3\"><span lang=\"EN-US\"><span face=\"Calibri\" size=\"3\"><a href=\"mailto:info@castle-familyoffice.sg\">info@castle-familyoffice.sg</a></span></span></span></em></strong> </em></p>','posts/gonkong1.jpg','hk-companies-tool-for-tax-strategies',NULL,NULL,'PUBLISHED',0,'2018-06-02 15:05:00','2021-11-25 16:59:44',114),(57,1,2,'China Education',NULL,'China Education sector is entering a period of high growth arising from rising enrolment and tuition fees. It benefits from the relaxation of one-child policy and removal of regulatory overhang','<p>China Education sector is entering a period of high growth arising from rising enrolment and tuition fees. It benefits from the relaxation of one-child policy and removal of regulatory overhang.</p><p> </p><p>The relaxation of one-child policy in China after more than 3 decades will result in strong enrolment in the education sector. From 2016, Chinese families are allowed to have two children. This will lead to higher intake of students in K-12 program which covers kindergartens as well as primary and secondary school education. </p><p> </p><p class=\"Default\">Regulatory overhang on the sector is removed after the announcement of the “Revised Draft of The Law for Promoting Private Education” from the Ministry of Education. It recognizes that the VIE structures adopted by most education companies are legal. It is also increasing regulations especially on areas such teaching content, student safety concerns. This will drive the consolidation of smaller unlisted companies and favour the bigger companies such as TAL Education and New Oriental Education.</p><p> </p><p>Companies that are key beneficiaries of the growth in China education:</p><ol><li><b>TAL Education (TAL US)</b></li><li><b>New Oriental Education (EDU US)</b></li><li><b>China Maple Leaf Education (1317 HK)</b></li><li><b>China Yuhua Education (6169HK)</b></li><li><b>Wisdom Education (6068 HK)</b></li></ol><p><b></b></p><p> </p><h3><span style=\"text-decoration: underline;\">TAL Education (TAL US)</span></h3><p>TAL Education is one of the largest tutorial operators in China and it is focused on the premium high-achieving students in the K-12 curriculum. It offers tutoring services in core academic subjects such as English, Chinese, Mathematics and Sciences. It enjoys strong enrolment growth and rising ASP from higher tuition rates. It is focusing on increasing online market share in the next 1-2 years especially in the lower tier cities within China.</p><p> </p><h3><span style=\"text-decoration: underline;\">New Oriental Education (EDU US)</span></h3><p>New Oriental Education is one of the largest K-12 tutorial operators in China. It offers foreign language training, test preparation courses for admission tests in primary and secondary schools in China, the US and Commonwealth countries. The company have a total 1000 learning centres, of which 600 are targeted to the high growth K-12 market. It is also aiming for faster expansion into the lower tier cites by offering dual teacher classes for K-12 courses in several cities.</p><p> </p><h3><span style=\"text-decoration: underline;\">China Maple Leaf Education (1317 HK)</span></h3><p>China Maple Leaf is the largest operator of high schools qualified under the British Columbia curriculum. It is one of the leading international school operators in China and operates close to 80 preschools, elementary, middle schools, high schools and foreign national schools. It is targeting to open another 11 new schools in the future. It is also operating on an asset-light strategy to acquire schools in operations and build a nationwide school network faster.</p><p> </p><h3><span style=\"text-decoration: underline;\">China Yuhua Education (6169HK)</span></h3><p>China Yuhua is the largest operator of integrated private education from kindergarten to university in Central China. The company benefits from providing high quality education services which set it apart from the others in Henan province. It recently acquired 70% stake in a high school in Kaifeng for further expansion into the K-12 market. It is expected to gain synergies with its primary and middle school in the city. The company enjoys strong organic growth from rising enrolment, tuition fees as well as executing M&amp;A opportunities.</p><p> </p><h3><span style=\"text-decoration: underline;\">Wisdom Education (6068 HK)</span><span style=\"text-decoration: underline;\"></span></h3><p>Wisdom Education is one of the leading private education provider in the Southern China with schools in Dongguan, Huizhou and Panjin. It enjoys a strong earnings outlook arising from high enrolment growth, rising tuition fees and margin improvement from better utilization rates. It is focusing its expansion within its home province which allows it to leverage on its strong brand equity further.</p><p> </p><p><b>Edmund Chan, CFA</b></p>','posts/edmundch.jpg','china-education',NULL,NULL,'PUBLISHED',0,'2018-06-04 02:00:00','2021-11-25 16:56:14',118),(58,1,2,'Switzerland expects automatic exchange with Hong Kong and Singapore',NULL,'The Swiss federal government has asked Parliament to approve its plans to automatically exchange financial account information (AEOI) with Singapore and Hong Kong from Autumn 2019.','<p style=\"text-align: center;\"><em>   <span>The Swiss federal government has asked Parliament to approve its plans to automatically exchange financial account information (AEOI) with Singapore and Hong Kong from Autumn 2019.</span></em></p><p>   <span>Switzerland has already agreed to implement AEOI with 38 jurisdictions, including all EU Member States. In June 2017, it undertook to extend AEOI to a further 41 jurisdictions by 2019, including most G20 and OECD members.</span></p><p>   <span>The Hong Kong and Singapore agreements were negotiated in July and October last year. They have since been through a public consultation period, which ended in April. The Federal Council now expects them to come into force provisionally from 1 January 2019, if Parliament ratifies them, with the first exchange of data in Autumn 2019. This is, it says, is the only way to ensure that its AEOI schedule could be met.</span></p><p>   <span>Recent legislative developments in the two Asian jurisdictions also open up the possibility that they will exchange account data with Switzerland under the OECD\'s multilateral exchange agreement (the MCAA), as well through as the bilateral agreements.</span></p><p>   <span>Switzerland is also proposing to begin non-reciprocal multilateral automatic exchange with other financial centres, including the Bahamas, from 2020.</span></p><p>   <span>\'It is important for the Swiss financial sector that the same competitive conditions exist all over the world\', said the Federal Council. It wants to ensure \'a level playing field worldwide\', so that Switzerland does not cede a competitive advantage to rival financial centres.</span></p><p><span>   Most of the financial centres with which Switzerland plans to introduce AEOI apply exchange non-reciprocally – that is, they will provide account data but do not ask for any in return. These countries include the Bahamas, Bahrain and Qatar. However, Switzerland will conduct reciprocal AEOI with Panama and the Netherlands\' Caribbean territories of Bonaire, Saint Eustatius and Saba.</span></p><p>   Today it is recommended to open foreign bank accounts - in our time, reasonable diversification will help to preserve and increase the earned funds.</p><p> </p><p style=\"text-align: center;\"><em>If you have any questions, <strong>Castle Family Office</strong> specialists are ready to answer them! Write to us at: <strong><em><span face=\"Calibri\" size=\"3\"><span lang=\"EN-US\"><span face=\"Calibri\" size=\"3\"><a href=\"mailto:info@castle-familyoffice.sg\">info@castle-familyoffice.sg</a></span></span></span></em></strong> </em></p>','posts/flags.jpg','automatic-exchange-between-ch-hk-sg',NULL,NULL,'PUBLISHED',0,'2018-06-04 03:00:00','2021-11-25 16:59:41',93),(59,1,2,'Tax Agreements between Hong Kong and Nordic countries have entered into force',NULL,'On March 2, the Inland Revenue Department announced about the entry into force of Tax Information Exchange Agreements with six Nordic countries - Denmark, the Faroe Islands, Iceland, Norway, Sweden and Greenland.','<p>On March 2, the Inland Revenue Department announced about the entry into force of Tax Information Exchange Agreements with six Nordic countries - Denmark, the Faroe Islands, Iceland, Norway, Sweden and Greenland.</p><p>All these agreements were signed already. The treaty with Sweden entered into force on 16 January, with Greenland on 17 February. The remaining agreements entered into force on December 4, 2015.</p><p>According to representatives of the Nordic Council of Ministers, the achievement of such agreements often takes many years, and they are very pleased that it was possible to agree on the tax information automatic transfer with Hong Kong. These six agreements provide for extremely balanced precautions to protect the information and personal data of taxpayers who are exchanging countries.</p><p>Regarding Sweden, according to the Taxation Department estimates, from 300 to 400 billion Crowns, Swiss are hiding from taxation in other countries, and such agreements will allow the return of several billion crowns to Sweden.</p><p>Taxes to which these agreements apply are as follows:</p><ul><li>From the <em>Hong Kong</em> Special Administrative Region:</li></ul><p>— income tax;</p><p>— tax on wages;</p><p>— property tax.</p><ul><li>On the part of the <em>Nordic countries</em>:</li></ul><p>— income tax, income tax and payroll tax;</p><p>— tax on dividends, royalties and capital gains;</p><p>— tax on the net value of the property;</p><p>— in some cases, other taxes, with the exception of customs duties, namely taxes on movable and immovable property, taxes on consumption, goods, services and taxes on inheritance or gift transactions.</p><p>When making inquiries, for example, from Sweden to Hong Kong, the competent authority in Sweden will need to provide the competent authority in Hong Kong with the following:</p><ol></ol><ol><li>Data on the taxpayer;</li><li>Tax period for which information is requested;</li><li>The purpose for which information is requested;</li><li>Preferred form in which to provide information.</li></ol><ol></ol><ol></ol><ol></ol><p>If the competent authority that received an adequate request from another country fails to process it within 90 days, and if it encounters any obstacles in providing information, it must immediately notify the applicant party about it and explain the reason for the inability the nature of the obstacle and the reason for refusing to process the request.</p><p>Also, the parties are not obliged to provide information to each other, which would disclose any trade, business, industrial, commercial, professional secret or trade process. All information received by the competent authorities is strictly confidential and can be opened only to authorized persons and bodies and only within the framework of the trial. Other individuals or legal entities and bodies should not open this information without the written consent of the party providing the information. Honest persons should not be afraid of anything, since the information will be used solely to combat tax evasion.</p><p style=\"text-align: center;\">The entry into force of these six tax agreements demonstrates Hong Kong\'s responsible performance of its international obligations regarding tax transparency.</p><p> </p><p style=\"text-align: center;\"><i>If you have any questions, <strong>Castle Family Office</strong> specialists are ready to answer them! Write to us at:</i><em> <strong><em><span face=\"Calibri\" size=\"3\"><span lang=\"EN-US\"><span face=\"Calibri\" size=\"3\"><a href=\"mailto:info@castle-familyoffice.sg\">info@castle-familyoffice.sg</a></span></span></span></em></strong> </em></p><p>- Income tax;<br />- tax on wages;<br />- property tax.</p>','posts/nord.jpg','tax-agreements-hk-europe',NULL,NULL,'PUBLISHED',0,'2018-06-04 05:00:00','2021-11-25 16:56:12',89),(60,1,2,'Getting a Singapore passport is a great opportunity to visit many countries',NULL,'According to the Entry Restrictions Index and the Global Passport Rating of 2017, Singapore is the best country in South-East Asia and one of the best countries in the world regarding the level of visa-free access to other states','<p>According to the Entry Restrictions Index and the Global Passport Rating of 2017, Singapore is the best country in South-East Asia and one of the best countries in the world regarding the level of visa-free access to other states.</p><p>However, it must be remembered that the citizenship of Singapore can not be the second and you need to consider the \"draft\" age if you get citizenship and a passport of Singapore.</p><div><h2 style=\"text-align: center;\"><strong>Offshore Singapore in the Global Passport Ranking 2017</strong></h2></div><p>The Global Passport Power Rank by Arton Capital estimates passports of the world on the level of visa-free access to other states. Compare the passports of 193 member countries of the United Nations and six territories. In 2017, Singapore and Germany shared the first place among themselves.</p><p>Owners of the Singapore passport can now receive a visa upon arrival in Ukraine for up to 15 days, increasing the rate of the republic by one point to 159.</p><p>In the ranking of 2016, Singapore was the second. Despite the higher rate of Germany in terms of the number of countries that holders of German passports can visit without a visa (125 countries with a German passport and 122 countries with a Singapore passport), Singapore is ahead of Germany in terms of obtaining a visa on arrival (37 countries with a Singapore passport and 34 countries with a German passport).</p><p>\"Singaporeans can rejoice that their passport offers them first-class global mobility,\" Arton Capital said.</p><h3><b>World Passports Rating 2018: Top 10 most influential passports in the world</b></h3><table border=\"1\" cellspacing=\"0\" cellpadding=\"0\"><tbody><tr><td width=\"37\" valign=\"top\"><p>№</p></td><td width=\"482\" valign=\"top\"><p>COUNTRY</p></td><td width=\"104\" valign=\"top\"><p style=\"text-align: center;\">QUANTITY (HANLEY)</p></td></tr><tr><td width=\"37\"><p align=\"center\">1</p></td><td width=\"482\" valign=\"top\"><p>Germany*</p></td><td width=\"104\" valign=\"top\"><p>177</p></td></tr><tr><td width=\"37\"><p align=\"center\">2</p></td><td width=\"482\" valign=\"top\"><p>Singapore</p></td><td width=\"104\" valign=\"top\"><p>176</p></td></tr><tr><td width=\"37\"><p align=\"center\">3</p></td><td width=\"482\" valign=\"top\"><p>Denmark (160), Finland (160), France (160), Italy (160), Japan (159), Norway (159), Sweden (160), UK (159)</p></td><td width=\"104\" valign=\"top\"><p>175</p></td></tr><tr><td width=\"37\"><p align=\"center\">4</p></td><td width=\"482\" valign=\"top\"><p>Austria (159), Belgium (159), Luxembourg (159), Netherlands (159), Spain (160), Switzerland (158)</p></td><td width=\"104\" valign=\"top\"><p>174</p></td></tr><tr><td width=\"37\"><p align=\"center\">5</p></td><td width=\"482\" valign=\"top\"><p>Ireland (158), Portugal (159), South Korea (160), USA (158)</p></td><td width=\"104\" valign=\"top\"><p>173</p></td></tr><tr><td width=\"37\"><p align=\"center\">6</p></td><td width=\"482\" valign=\"top\"><p>Canada (158)</p></td><td width=\"104\" valign=\"top\"><p>172</p></td></tr><tr><td width=\"37\"><p align=\"center\">7</p></td><td width=\"482\" valign=\"top\"><p>Australia (156), Greece (157), New Zealand (155)</p></td><td width=\"104\" valign=\"top\"><p>171</p></td></tr><tr><td width=\"37\"><p align=\"center\">8</p></td><td width=\"482\" valign=\"top\"><p>Iceland (154), Czech Republic (156)</p></td><td width=\"104\" valign=\"top\"><p>170</p></td></tr><tr><td width=\"37\"><p align=\"center\">9</p></td><td width=\"482\" valign=\"top\"><p>Malta (156)</p></td><td width=\"104\" valign=\"top\"><p>169</p></td></tr><tr><td width=\"37\"><p align=\"center\">10</p></td><td width=\"482\" valign=\"top\"><p>Hungary (154)</p></td><td width=\"104\" valign=\"top\"><p>168</p></td></tr></tbody></table><p>*- in the parentheses are the Arton Capital rating results.</p><p>Probably, the difference in the number of countries is related to methodology. According to the study results, Arton adds Malaysia to the 7th place with 155 countries, as well as Slovenia, Poland, Lithuania, Slovakia and Latvia in 9th place, with a score of 153 states. In the tenth place according to the Arton version, Estonia is located, for which 152 countries are visa-free.</p><h3><b>World Passports Rating 2018: Top 10 World\'s Weakest Passports</b></h3><table border=\"1\" cellspacing=\"0\" cellpadding=\"0\"><tbody><tr><td width=\"37\" valign=\"top\"><p>№</p></td><td width=\"482\" valign=\"top\"><p>COUNTRY</p></td><td width=\"104\" valign=\"top\"><p style=\"text-align: center;\">QUANTITY (HANLEY)</p></td></tr><tr><td width=\"37\"><p align=\"center\">1</p></td><td width=\"482\" valign=\"top\"><p>Afghanistan</p></td><td width=\"104\" valign=\"top\"><p>24</p></td></tr><tr><td width=\"37\"><p align=\"center\">2</p></td><td width=\"482\" valign=\"top\"><p>Iraq</p></td><td width=\"104\" valign=\"top\"><p>27</p></td></tr><tr><td width=\"37\"><p align=\"center\">3</p></td><td width=\"482\" valign=\"top\"><p>Syria</p></td><td width=\"104\" valign=\"top\"><p>28</p></td></tr><tr><td width=\"37\"><p align=\"center\">4</p></td><td width=\"482\" valign=\"top\"><p>Pakistan</p></td><td width=\"104\" valign=\"top\"><p>30</p></td></tr><tr><td width=\"37\"><p align=\"center\">5</p></td><td width=\"482\" valign=\"top\"><p>Somalia</p></td><td width=\"104\" valign=\"top\"><p>32</p></td></tr><tr><td width=\"37\"><p align=\"center\">6</p></td><td width=\"482\" valign=\"top\"><p>Yemen</p></td><td width=\"104\" valign=\"top\"><p>35</p></td></tr><tr><td width=\"37\"><p align=\"center\">7</p></td><td width=\"482\" valign=\"top\"><p>Libya, Nepal</p></td><td width=\"104\" valign=\"top\"><p>36</p></td></tr><tr><td width=\"37\"><p align=\"center\">8</p></td><td width=\"482\" valign=\"top\"><p>Eritrea, Palestine</p></td><td width=\"104\" valign=\"top\"><p>37</p></td></tr><tr><td width=\"37\"><p align=\"center\">9</p></td><td width=\"482\" valign=\"top\"><p>Bangladesh, Iran, Kosovo, Lebanon</p></td><td width=\"104\" valign=\"top\"><p>38</p></td></tr><tr><td width=\"37\"><p align=\"center\">10</p></td><td width=\"482\" valign=\"top\"><p>Ethiopia, North Korea, southern Sudan</p></td><td width=\"104\" valign=\"top\"><p>39</p></td></tr></tbody></table><p> </p><div><h2><strong>Offshore Singapore in the  Entry Restrictions Index</strong></h2></div><p>In the era of globalization, visa restrictions have particular importance. The requirements for obtaining a  visitor visa are the government\'s ability to control the crossing of state borders by foreigners. On the other hand, they reflect the country\'s status in the international community.</p><p>Visa Restrictions Index is issued every year. This is a rating of freedom of movement. It is published by consulting firm Henley &amp; Partners in partnership with the International Air Transport Association (IATA). Visa Restrictions Index in 2017 included 219 countries. Singapore in the world ranking has retained its 4 th place, and in Southeast Asia - the first place. It should be noted that this place is the highest jurisdiction rating for the last ten years.</p><p><b style=\"font-size: 1.17em;\">Visa Restrictions Index Top 10 countries in 2017</b></p><table border=\"1\" cellspacing=\"0\" cellpadding=\"0\"><tbody><tr><td width=\"70\" valign=\"top\"><p align=\"center\"><strong><em>Rating</em></strong></p></td><td width=\"194\" valign=\"top\"><p align=\"center\"><em><strong>Nationality / passport</strong></em></p></td><td width=\"47\" valign=\"top\"><p align=\"center\"><em><strong>Points</strong></em></p></td></tr><tr><td width=\"70\"><p align=\"center\">1</p></td><td width=\"194\" valign=\"top\"><p>Germany</p></td><td width=\"47\"><p>176</p></td></tr><tr><td width=\"70\"><p align=\"center\">2</p></td><td width=\"194\" valign=\"top\"><p>Sweden</p></td><td width=\"47\"><p>175</p></td></tr><tr><td width=\"70\" rowspan=\"5\"><p align=\"center\">3</p></td><td width=\"194\" valign=\"top\"><p>Denmark</p></td><td width=\"47\" rowspan=\"5\"><p>174</p></td></tr><tr><td width=\"194\" valign=\"top\"><p>Finland</p></td></tr><tr><td width=\"194\" valign=\"top\"><p>Italy</p></td></tr><tr><td width=\"194\" valign=\"top\"><p>Spain</p></td></tr><tr><td width=\"194\" valign=\"top\"><p>USA</p></td></tr><tr><td width=\"70\" rowspan=\"8\"><p align=\"center\">4</p></td><td width=\"194\" valign=\"top\"><p>Austria</p></td><td width=\"47\" rowspan=\"8\"><p>173</p></td></tr><tr><td width=\"194\" valign=\"top\"><p>Belgium</p></td></tr><tr><td width=\"194\" valign=\"top\"><p>France</p></td></tr><tr><td width=\"194\" valign=\"top\"><p>Luxembourg</p></td></tr><tr><td width=\"194\" valign=\"top\"><p>Netherlands</p></td></tr><tr><td width=\"194\" valign=\"top\"><p>Norway</p></td></tr><tr><td width=\"194\" valign=\"top\"><p>Singapore</p></td></tr><tr><td width=\"194\" valign=\"top\"><p>United Kingdom (Great Britain)</p></td></tr><tr><td width=\"70\" rowspan=\"3\"><p align=\"center\">5</p></td><td width=\"194\" valign=\"top\"><p>Ireland</p></td><td width=\"47\" rowspan=\"3\"><p>172</p></td></tr><tr><td width=\"194\" valign=\"top\"><p>Japan</p></td></tr><tr><td width=\"194\" valign=\"top\"><p>New Zealand</p></td></tr><tr><td width=\"70\" rowspan=\"4\"><p align=\"center\">6</p></td><td width=\"194\" valign=\"top\"><p>Canada</p></td><td width=\"47\" rowspan=\"4\"><p>171</p></td></tr><tr><td width=\"194\" valign=\"top\"><p>Greece</p></td></tr><tr><td width=\"194\" valign=\"top\"><p>Portugal</p></td></tr><tr><td width=\"194\" valign=\"top\"><p>Switzerland</p></td></tr><tr><td width=\"70\" rowspan=\"2\"><p align=\"center\">7</p></td><td width=\"194\" valign=\"top\"><p>Australia</p></td><td width=\"47\" rowspan=\"2\"><p>170</p></td></tr><tr><td width=\"194\" valign=\"top\"><p>Korea (Republic of Korea, South Korea)</p></td></tr><tr><td width=\"70\"><p align=\"center\">8</p></td><td width=\"194\" valign=\"top\"><p>Iceland</p></td><td width=\"47\"><p>169</p></td></tr><tr><td width=\"70\"><p align=\"center\">9</p></td><td width=\"194\" valign=\"top\"><p>Czech Republic</p></td><td width=\"47\"><p>168</p></td></tr><tr><td width=\"70\" rowspan=\"2\"><p align=\"center\">10</p></td><td width=\"194\" valign=\"top\"><p>Hungary</p></td><td width=\"47\" rowspan=\"2\"><p>167</p></td></tr><tr><td width=\"194\" valign=\"top\"><p>Malta</p></td></tr></tbody></table><p><em> </em></p><p><em> </em></p><p align=\"center\"><em>Interested questions concerning the Singapore passport registration can be clarified by specialists of <strong>Castle Family Office</strong>! Write us via  <strong><span face=\"Calibri\" size=\"3\"><span lang=\"EN-US\"><span face=\"Calibri\" size=\"3\"><a href=\"mailto:info@castle-familyoffice.sg\">info@castle-familyoffice.sg</a></span></span></span></strong> </em></p>','posts/singapur.jpg','singapore-passport',NULL,NULL,'PUBLISHED',0,'2018-06-05 02:30:00','2021-11-25 16:56:11',80),(61,1,2,'Singapore changed the conditions for the issuance and renewal of business visas',NULL,'At the beginning of August, the Ministry of Trade and Industry, the Ministry of Labour & Employment  SG and Spring Singapore agencies, supporting companies, announced the introduction of new evaluation criteria for entrepreneurs who wish to obtain an entrepreneurial visa to Singapore.','<p class=\"justifyleft\"><em>At the beginning of August, the Ministry of Trade and Industry, the Ministry of Labour &amp; Employment  SG and Spring Singapore agencies, supporting companies, announced the introduction of new evaluation criteria for entrepreneurs who wish to obtain an entrepreneurial visa to Singapore.</em></p><p class=\"justifyleft\">In our time, emigration to countries with a stable economy and a high standard of living has become very popular. In some countries it\'s difficult to emigrate. Others often don\'t meet all the requirements, but in the case of Singapore, everything is more simple: this city-state is characterized by low taxes, developed infrastructure and high level of medical care, and emigration to Singapore with subsequent citizenship offers opportunities to travel around the globe without problems. Perhaps these and other advantages and make people think about how to emigrate to Singapore. One way is to register a company in Singapore and emigrate as the owner of the company on an EntrePass visa.</p><p>In 2003, the Singapore government introduced EntrePass for entrepreneurs and investors with innovative business ideas in order to increase the attractiveness of Singapore in the eyes of foreign entrepreneurs. The visa was given for a period of one year, and if the business was successful and met the government\'s requirements, then at the end of the term it was extended. A visa holder has the right to move to Singapore himself and take his family, whose members can expect a work permit and residence permit, and the children of a foreign entrepreneur can visit Singapore schools.</p><p>Starting from August 3, 2017, the existing criteria for obtaining EntrePass were supplemented with the following:</p><ul><li>The applicant must provide evidence of his investment and entrepreneurial experience;</li><li>The applicant must demonstrate key achievements in his activities areas and commercial ties availability.</li></ul><p>Two new agencies set up by the government will help assess applicants to the Ministry of Labor: National Research Foundation и Infocomm Media Development Authority.</p><p>In addition, as promised in March 2017, they eliminated the requirement to make a minimum amount of 50,000 Singapore dollars as the registered capital of the company being registered. Also at the first renewal the visa will now be extended not by one, but by two years.</p><p>Obviously, in Singapore they intend to more carefully consider applications for EntrePass and give preference to investors and entrepreneurs with great potential. But at the same time, Singapore introduces certain indulgences, thereby increasing the attractiveness of the state for foreign entrepreneurs.</p><p>Interestingly, according to official statistics, only in 2015 foreign start-ups provided jobs to more than 19,000 people. The government has doubled the maximum amount of investment for joint investment from 2 million to 4 million Singapore dollars, and the share of support for co-financing by the government has increased from 50 to 70 percent.</p><p> </p><div style=\"text-align: center;\"><pre style=\"font-family: Georgia, \'Times New Roman\', Times, serif; font-size: xx-large; font-style: normal; line-height: normal; font-weight: lighter; text-decoration: blink;\">Why Singapore?</pre></div><p>Why start a startup in Singapore? The reasons for that, in addition to the fact that the government actively promotes business development, very much. Every year more and more facts about Singapore contain the words \"most\" and \"best\". The most politically stable country with the highest quality of life or territory of Asia, the best jurisdiction for doing business is just some of the arguments that persuade entrepreneurs to move to this small Asian state.</p><p>During its history, Singapore managed to visit part of the British Empire, it belonged to Japan and was part of Malaysia. When the country gained independence in 1965, it was in a sorry state: the population was only half a million people, and even drinking water and sand had to be imported.</p><p>For 30 years under Lee Kuan Yew leadership city has become a trading and financial center in Southeast Asia. The government in every possible way enticed prospective investors, and American transnational corporations tried to prepare mail for the development of high-tech sector.</p><p>In the Doing Business ranking, which assesses 189 states, Singapore was in first place for ten consecutive years - from 2007 to 2016. In 2016, the state topped the rating for such indicators as compliance with the terms of contracts, support for small investors and ease of obtaining construction permits. In addition, according to experts, the best workers from all over the world live in Singapore.</p><p>For start-ups, a very attractive tax system operates in the country: the corporate tax for the first 100 thousand Singapore dollars of the company\'s annual profit is 0%, for the next 200 thousand Singapore dollars - 8.5%, and all that over 300 thousand is taxed at the full rate of 17%. Thanks to such an attractive taxation system and other factors, the number of start-ups being created is continuously growing: from 2004 to 2014, it almost doubled, from 2,800 companies to 5,400. Overall, it was 2014 that was a breakthrough for Singaporean businessmen and set a further direction for the development of start-ups: on a scale of jurisdiction, start-ups received an investment of 1.2 billion Singapore dollars.</p><p>For business projects in Singapore, always pay attention to large foreign investors. For example, the company Nitrous IO, engaged in the development of cloud applications, received 6.65 million US dollars from several international investors, including Eduardo Saverin, one of the creators of Facebook.</p><p> </p><div style=\"text-align: center;\"><pre style=\"font-family: Georgia, \'Times New Roman\', Times, serif; font-size: xx-large; line-height: normal; font-weight: lighter;\">What to do in Singapore?</pre></div><p>Singapore\'s Changi Airport is the best in the world, and this will be confirmed by the 15 million tourists who visit Singapore every year: this figure is three times the population of the state. Therefore, tourism is one of the most promising areas for business development in Singapore. With an increasing flow of tourists, the hotel business is also flourishing. It\'s a good idea to open a bar or a small cafe or boutique: many tourists come here for shopping.</p><p>If to judge by the end of 2015, one of the main start-up trends was transport services: the platform for renting cars without intermediaries iCarsClub collected 70.48 million dollars, and the service for calling a taxi GrabTaxi - 680 million.</p><p>Such giants as Microsoft, Google and Apple, could not bypass Singapore and opened their branches here. The state keeps pace with the times, and the provision of services to create sites and conduct Internet communications, as well as the development of social networks and applications can be the basis for successful business. For example, a social network called Migme, which brings together 65 million users from around the world, received funding of $ 37.1 million.</p><p>In addition, such giants of pharmaceuticals as GlaxoSmithKline, Novartis and Pfizer have placed their branches in Singapore. Pharmaceutical company Aslan, which deals with the treatment of inflammatory, respiratory and cancer diseases received 111 million dollars of investment.</p><p>And the main trend of start-ups were online stores: electronics, furniture and clothes Lazada collected a record $ 686 million, and a platform called Zalora, specializing in the fashionable clothes sales - $ 238 million.</p><p>In Singapore, a lot of accelerators and incubators are concentrated, and their number is growing rapidly. Usually they have specialization. So, Accelerator AirMaker specializes in \"Internet of things\", and Entrepreneur First - on startups related to aerospace research, robotics and machine training.</p><p>Let\'s sum up: obviously, emigration to Singapore with the help of company registration is one of the most reliable ways. To make the idea a success, you really need to evaluate your chances of getting EntrePass. Here, your experience in creating and monetizing a software product, a business plan and hiring local employees will be crucial. Singapore is a region with tremendous prospects, and emigration to Singapore can be an excellent opportunity for you and your family to change their lives.</p><p><em> </em></p><p style=\"text-align: center;\"><em> You can ask your questions about obtaining entrepreneurial visas for <strong>Castle Family Office</strong> specialists! Write us via </em><em><strong><em><span face=\"Calibri\" size=\"3\"><span lang=\"EN-US\"><span face=\"Calibri\" size=\"3\"><a href=\"mailto:info@castle-familyoffice.sg\">info@castle-familyoffice.sg</a></span></span></span></em></strong> </em></p>','posts/visa.jpg','singapore-employment-pass-service',NULL,NULL,'PUBLISHED',0,'2018-06-05 04:15:00','2021-11-25 16:56:09',149),(62,1,2,'Investment Visa in Singapore',NULL,'The Singapore Investment Visa also known as the Global Investor Program (GIP) is a scheme that allows global high-net-worth personalities to bring their investment initiative to Singapore and obtain a permanent residence in the country immediately after making the pouring of money worth at least 2.5 million SGD. Singapore’s GIP is a gateway to the most stable, secure, investment-friendly, tax-efficient, and the least corrupt business surroundings in the world. The high-end transport and financial infrastructure and perfect corporate governance made this country an advanced business hub where thousands of successful companies are born. Singapore’s outstanding tax policy and tremendous investing opportunities urged investors from all across the globe to pursue getting in on the ground floor of new businesses in Singapore.','<p class=\"justifyleft\"><i>   </i>The Singapore Investment Visa also known as the Global Investor Program (GIP) is a scheme that allows global high-net-worth personalities to bring their investment initiative to Singapore and obtain a permanent residence in the country immediately after making the pouring of money worth at least 2.5 million SGD. Singapore’s GIP is a gateway to the most stable, secure, investment-friendly, tax-efficient, and the least corrupt business surroundings in the world. The high-end transport and financial infrastructure and perfect corporate governance made this country an advanced business hub where thousands of successful companies are born. Singapore’s outstanding tax policy and tremendous investing opportunities urged investors from all across the globe to pursue getting in on the ground floor of new businesses in Singapore.</p><p> </p><p> </p><h2 align=\"center\"><b>Benefits and Features of Investor Visa in Singapore</b></h2><ul><li>Investors aren’t limited in options where to funnel their resources: they can invest in the venture capital funds approved by the government or a new company or in a business that already operates.</li><li>Amount of monetary infusion starts from 2.5 million SGD.</li><li>Participants of the program are given half a year for performing their investments.</li><li>GIP applicants will have to attend an appointment with the authorities.</li><li>Investor and his spouse and unmarried children younger than 21 y/o can get PR right after the qualifying for the GIP.</li><li>Not all business niches qualify under the GIP scheme; please find out whether your selected one qualifies from our visa consultants. Some niches require a more massive investment for getting the PR (for example, the minimum investment for the construction sector is 200 million SGD).</li></ul><p><em> </em></p><h2 align=\"center\"><b>Advantages of Investment Visa</b></h2><ul><li>Investment visa is a perfect solution for those who seek migration through investment. Funnelling at least 2.5 million SGD into Singaporean economy gives an investor a privilege to apply for the Singapore permanent residence for himself and his family members right away.</li><li>Parents and other relatives can be taken along to Singapore on the Long Term Visit Pass.</li><li>After 2 years, the permanent residence visa can be converted into the Singaporean citizenship (provided that the foreigner is ready to renounce his present citizenship).</li><li>Permanent residence for investor’s parents and his parents-in-law can be “bough” for them with additional investment (300,000 SGD for every person/application).</li></ul><p><em> </em></p><h2 align=\"center\"><b>Disadvantages of Investment Visa</b></h2><ul><li>Business of every potential investor will be closely scrutinised. The government is interested in involving only successful investors (entrepreneurs).</li><li>Senior corporate managers aren’t eligible to participate in the GIP.</li><li>Sons of investors who get the PR are obliged to attend a National Service when they are 18 years old.</li><li>Parents and children (21 years old or older) cannot be taken to Singapore on permanent residence visa under this GIP application. They can still arrive in Singapore on the Long Term Visit Pass.</li><li>Singapore is a single citizenship country, so getting SG citizenship is possible only after renouncing your own.</li><li>After getting the permanent residence visa, the investor and his dependants must renew their Re-Entry Permits (REPs) every 5 years if they plan to travel in and out of Singapore:</li></ul><p>√ To get the renewal for the REPs for 3 years, the investor will have to meet investment conditions stated by the GIP application and some optional criteria (creating at least 5 jobs for the locals and having spent at least 1 million SGD or residing in the country for more than 2 years and a half).</p><p>√ For getting a renewal for 5 years, an investor must meet ALL of the optional criteria for the 3-year renewal.</p><p><em> </em></p><h2 align=\"center\"><b>Eligibility Criteria and Requirements for Singapore Investment Visa</b></h2><p>   Requirements for the Global Investment Program are:</p><ul><li>investor is expected to invest no less than 2,500,000 SGD into either a GIP fund or a new (existing) company;</li><li>applicant must be able to prove a significant 3-year business and entrepreneurial track record by providing his company’s audited accounts for the last 3 years;</li><li>applicant has to prove his company’s turnover of at least 50,000,000 SGD during the last year before the application and at least 50,000,000 SGD a year (on average) during the last 3 years;</li><li>applicant must hold at least 30% of shares if the company belongs to privately-owned entities.</li></ul><p>   Аpplicants who are going to invest in new or existing companies must:</p><ul><li>provide the government with a full business plan for the next 5 years and;</li><li>fulfil this planned investment within first 5 years after the visa issuance;</li><li>at the end of the 2nd and 4th year of the planned investment, the applicant must provide the audited financial statements of his company.</li></ul><h2 align=\"center\"><b> </b></h2><h2 align=\"center\"><b>Singapore Investor Visa Rejected</b></h2><p>   Rejections of the GIP applications are a common thing as the demands set by the authorities are really high. Poorly compiled papers and investment plans that don’t bear the government’s scrutiny usually get rejected. Failing to meet at least one of the many criteria can result in rejection as well. That is why it is crucial to ensure you wring the maximum out of your situation and all possible trumps are exhausted. This can be made by enlisting a visa professional that has abundant experience in helping high-net individuals to enter Singaporean investment backstage. The most often reasons for rejections are the investor’s business insecurity or inappropriate business sector chosen for the investment. This doesn’t, however, prove your business’ incapability: meaning your unfitness for the GIP, the rejection doesn’t close the door to Singapore completely. There is an alternative and an easier way how successful entrepreneurs can get involved in Singapore’s business. Please contact our visa team to get your GIP eligibility assessed and to try on the alternative.</p><p> </p><h2 align=\"center\"><b>How to Apply: the Best Singapore Investment Visa Scheme</b></h2><p>   Entering Singapore under the GIP scheme is a quite complicated procedure. It requires the investor not only to fit the criteria, but also to handle an eleborate and tedious paperwork: the business plan and papers that document the successful track record of your present business. What is more, there are a lot of rules how the funds must be infused correctly. To apply for the GIP, an entrepreneur must:</p><ul><li>submit the PR application (the investor can include his/her eligible family members into his/her PR application: there is no need for all of them to apply for the PR separately);</li><li>propose his investment (business) plan containing financial projections for the first 5 years (applicable if the investment is made in a new or an existing company);</li><li>submit an Entry Permit application;</li><li>submit other supportive documentation.</li></ul><p class=\"justifyleft\">   The authorities will need up to 8 months to process the submitted application and documents. Professionally compiled papers can shorten this processing time significantly. In the same time, papers that don’t bear scrutiny will not only prolong the processing time but also cause rejection if the authorities find your candidacy insecure for the GIP. It is better to involve visa professionals who know the latest requirements and a sure approach to the authorities. If the application is successful, the Immigration and the Checkpoints Authority (ICA) sends the investor the In-Principle PR approval letter that gives the investor 6 months to perform his investment. Bank statements that prove this investment will be used to get your PR status approved finally. From the moment you get your blue card of the Singaporean permanent residence, your contribution to the society and commitment to your investment plan starts.</p><p><em> </em></p><p style=\"text-align: center;\"><em> You can ask any questions about Singaporean Investor Visa for <strong>Castle Family Office</strong> specialists! Write us via </em><em><strong><em><span face=\"Calibri\" size=\"3\"><span lang=\"EN-US\"><span face=\"Calibri\" size=\"3\"><a href=\"mailto:info@castle-familyoffice.sg\">info@castle-familyoffice.sg</a></span></span></span></em></strong> </em></p>','posts/singapor.jpg','investment-visa-in-singapore',NULL,NULL,'PUBLISHED',0,'2018-06-05 07:00:00','2021-11-25 16:56:09',177),(63,1,2,'Hong Kong\'s Deposit Protection Scheme',NULL,'The turmoil in Europe made many investors turn their attention to the East. Many are interested in Asian banks reliability, namely in the banks of Hong Kong. This is a country that offers favorable tax conditions for conducting international business, in which case a reliable financial partner is simply necessary.','<p>The turmoil in Europe made many investors turn their attention to the East. Many are interested in Asian banks reliability, namely in the banks of Hong Kong. This is a country that offers favorable tax conditions for conducting international business, in which case a reliable financial partner is simply necessary.</p><p>The greatest number of issues is the Funds safety and what is the amount of the insured deposit.</p><p>It\'s not surprising that such inquiries arise, especially after the Cyprus turmoil, when investors received only 100 thousand euros of insurance deposit, but kept much more on their accounts. During the prosperity of the state, not many people think about such moments. The Cyprus crisis forced modern entrepreneurs to look at the global banking sector differently, including the eastern region.</p><p>The insured deposit amount in Hong Kong is estimated to be HKD 500,000 (USD 64,300). The amount is small, but if you look a bit into the past, then, for example, until January 1, 2011, the insurance amount was only HKD 100,000.</p><p>The modern Deposit Protection Scheme gives investors protection in case of bankruptcy. But, the stability of the state itself is also important. For example, in the Cyprus issue, a \"fat cross\" was placed much earlier in the future of the jurisdiction, because of the inflamed crisis in Europe (especially in Greece). Not many believed that Cyprus could collapse, but it happened.</p><p>If you look at Hong Kong in more detail, then you will see an entirely different situation. Behind the back of Hong Kong is mainland China, where the situation is quite stable. A country with a communist system is developing and flourishing.</p><p>The full guarantee scheme for deposits was submitted as early as October 2008, and extended to all authorized financial institutions (licensed banks, banks with limited licenses, and companies for accepting deposits). And it was this decision that was fundamental for the success of the Hong Kong banking system in the crisis.</p><p>Former financial secretary, John Tsang, said that guaranteed deposits had an effective effect on the public confidence in Hong Kong\'s banking system throughout the financial crisis, but simultaneously with the stabilization of the world economy, this program to provide a special guarantee should be completed\".</p><p>Norman Chan, <span>chief executive officer of </span><span>the</span><span> Hong Kong Monetary Authority</span>, said: \"Our banking system remains healthy and reliable, with a capitalization well above international standards. The population\'s confidence in the banking system also remains strong\".</p><p><span>Hong Kong Deposit Protection</span><span> Board</span> has conducted extensive advertising campaigns since the second half of 2010 to raise public awareness of the changes in the extended scheme. Also, close cooperation with banks was conducted so that they made timely adjustments to their systems and business flows. In addition, the Council closely cooperates with the bank regulator of HKMA, so that authorized institutions correctly convey the meaning of the program upon the full guarantee deposit expiration and its potential impact on its customers. However, all efforts were in vain, and today the scheme continues to function successfully.</p><p>All licensed banks in Hong Kong are participating in this scheme. And the main achievements for the previous year are:</p><ul><li>In case of bank bankruptcy, depositors are not required to file an application to protect or receive compensation, their savings held by the participants in the scheme. They are automatically included under the scheme protection;</li><li>Deposits holders, no matter - Hong Kong dollar or foreign currency, are protected;</li><li>A self-assessment was completed against the Fundamental Principles for the provision of effective deposit insurance schemes in accordance with the deposit protection scheme in accordance with generally accepted international standards and best practices;</li><li>A comprehensive strategic review was conducted, large-scale rehearsals and a review of the deposit payment system to ensure adequate pay and readiness. The reform plan was also designed to further improve the efficiency of payments.</li><li>A high level of public awareness is maintained.</li></ul><p><em> </em></p><p style=\"text-align: center;\"><em> For advice on opening an account with the banks of Hong Kong, please contact <strong>Castle Family Office</strong> specialists! Please feel free to write us at:</em></p><p style=\"text-align: center;\"><em> </em><em><strong><em><span face=\"Calibri\" size=\"3\"><span lang=\"EN-US\"><span face=\"Calibri\" size=\"3\"><a href=\"mailto:info@castle-familyoffice.sg\">info@castle-familyoffice.sg</a></span></span></span></em></strong> </em></p>','posts/FIS-ZA0h6z4.jpg','hk-deposit-protection-scheme',NULL,NULL,'PUBLISHED',0,'2018-06-06 02:00:00','2021-11-25 16:56:07',106),(64,1,2,'Banks of Singapore, included in the TOP-20 Safest Banks',NULL,'Global Finance has presented the 25th World\'s Top 50 Safest Banks ranking. Despite Brexit and the turbulent economic environment in Europe, the continent banks dominate and fall into the first 10 for the fifth year in a row: KfW (Germany) took first place, followed by Zürcher Kantonalbank (Switzerland) and Landwirtschaftliche Rentenbank (Germany). Toronto-Dominion Bank (Canada), has retained its place in the TOP-10.','<p>   Global Finance has presented the 25th <span>World\'s Top 50</span><span> Safest </span><span>Banks ranking</span>. Despite Brexit and the turbulent economic environment in Europe, the continent banks dominate and fall into the first 10 for the fifth year in a row: KfW (Germany) took first place, followed by Zürcher Kantonalbank (Switzerland) and Landwirtschaftliche Rentenbank (Germany). Toronto-Dominion Bank (Canada), has retained its place in the TOP-10.</p><p>   Asian banks entered the TOP-20, so the bank of Singapore DBS Bank ranked 12th, and OCBC (Singapore), Korean Development Bank, United Overseas Bank (Singapore) and Korea\'s export-import bank, ranked 14 to 17.</p><p><b>   DBS Bank </b>is the leading financial services group in Asia. Headquartered in Singapore, more than 280 branches are located in Greater China, Southeast Asia and South Asia. As a bank that was created and developed in Asia, DBS Bank is a good partner for businessmen oriented to business in the region.</p><p><b><i>The position of DBS Bank in Global Finance ratings:</i></b></p><ul><li>TOP-50 The World\'s 50 Safest Banks 2016 - 12th place.</li><li>TOP-50 The World\'s 50 Safest Commercial Banks 2016 - 3 rd place.</li><li>TOP-50 The Safest Banks in Asia 2016 - 1 place.</li></ul><p><b>   OCBC Bank</b> is the oldest bank in Singapore, established in 1932 with the merger of 3 local banks (one of which was founded in 1912). To date, this group of financial services is the second largest in Southeast Asia. OCBC Bank offers a wide range of financial services and wealth management, including corporate, investment and private banking, insurance and trading in securities markets. There are more than 610 branches and representative offices in 18 countries including Singapore, Malaysia, Indonesia and mainland China.</p><p><b><i><b><i>The position of</i></b> OCBC Bank</i></b> <b><i>in Global Finance ratings:</i></b></p><ul><li>ТОП-50 The World’s 50 Safest Banks 2016 – 14 место.</li><li>ТОП-50 The World’s 50 Safest Commercial Banks 2016 – 5 место.</li><li>ТОП-50 The Safest Banks in Asia 2016 – 2 место.</li></ul><p><b>   United Overseas Bank</b> in abbreviated form <b>UOB</b> was founded in 1935 under the name of United Chinese Bank, and the current name was received in 1965. Today it is one of the leading banks in Asia with more than 500 offices in 19 jurisdictions in Western Europe, the Asia-Pacific region and North America. United Overseas Bank offers a wide range of financial services, including personal financial services, private banking services, commercial and corporate banking, investment financial services, insurance, capital markets, treasury services, brokerage services, asset management and venture capital management.</p><p><b><i>The position of</i></b> <b><i>United Overseas Bank</i></b> <b><i>in Global Finance ratings:</i></b></p><ul><li>ТОП-50 The World’s 50 Safest Banks 2016 – 16 место.</li><li>ТОП-50 The World’s 50 Safest Commercial Banks 2016 – 6 место.</li><li>ТОП-50 The Safest Banks in Asia 2016 – 4 место.</li></ul><p> </p><p>Expanded data on Singapore banks rating TOP-50 World\'s Safest Banks 2016</p><table border=\"1\" cellspacing=\"0\" cellpadding=\"0\"><tbody><tr><td width=\"132\" colspan=\"2\"><p align=\"center\"><b>Place</b></p></td><td width=\"170\" rowspan=\"2\"><p align=\"center\"><b>Name</b></p></td><td width=\"180\" colspan=\"3\"><p align=\"center\"><b>Ranking</b></p></td><td width=\"75\" rowspan=\"2\"><p align=\"center\"><b>Score</b></p></td><td width=\"66\" rowspan=\"2\"><p align=\"center\"><b>Funds </b><b>$ </b><b>mn</b></p></td></tr><tr><td width=\"66\"><p align=\"center\"><b>World</b></p></td><td width=\"66\"><p align=\"center\"><b>Asia</b></p></td><td width=\"57\"><p align=\"center\"><b>Fitch</b></p></td><td width=\"56\"><p align=\"center\"><b>S&amp;P</b></p></td><td width=\"67\"><p align=\"center\"><b>Moody’s</b></p></td></tr><tr><td width=\"66\"><p align=\"center\">12</p></td><td width=\"66\"><p align=\"center\">1</p></td><td width=\"170\" valign=\"top\"><p>DBS Bank</p></td><td width=\"57\"><p align=\"center\">АА-</p></td><td width=\"56\"><p align=\"center\">АА-</p></td><td width=\"67\"><p align=\"center\">Аа1</p></td><td width=\"75\"><p align=\"center\">23</p></td><td width=\"66\"><p align=\"center\">323,819</p></td></tr><tr><td width=\"66\"><p align=\"center\">14</p></td><td width=\"66\"><p align=\"center\">2</p></td><td width=\"170\" valign=\"top\"><p>OCBC Bank</p></td><td width=\"57\"><p align=\"center\">АА-</p></td><td width=\"56\"><p align=\"center\">АА-</p></td><td width=\"67\"><p align=\"center\">Аа1</p></td><td width=\"75\"><p align=\"center\">23</p></td><td width=\"66\"><p align=\"center\">275,967</p></td></tr><tr><td width=\"66\"><p align=\"center\">16</p></td><td width=\"66\"><p align=\"center\">4</p></td><td width=\"170\" valign=\"top\"><p>United Overseas Bank</p></td><td width=\"57\"><p align=\"center\">АА-</p></td><td width=\"56\"><p align=\"center\">АА-</p></td><td width=\"67\"><p align=\"center\">Аа1</p></td><td width=\"75\"><p align=\"center\">23</p></td><td width=\"66\"><p align=\"center\">223,503</p></td></tr></tbody></table><p><em> </em></p><p style=\"text-align: center;\"><em> For advice on opening an account with Singapore banks, please contact <strong>Castle Family Office</strong> specialists! Please feel free and write us at: </em></p><p style=\"text-align: center;\"><em> </em><em><strong><em><span face=\"Calibri\" size=\"3\"><span lang=\"EN-US\"><span face=\"Calibri\" size=\"3\"><a href=\"mailto:info@castle-familyoffice.sg\">info@castle-familyoffice.sg</a></span></span></span></em></strong> </em></p>','posts/hk-banks.png','top20-sg-banks',NULL,NULL,'PUBLISHED',0,'2018-06-06 04:00:00','2021-11-25 16:56:07',226),(65,1,2,'Why opening a Corporate Bank Account in Hong Kong?',NULL,'Favorable political climate, developed economy, favorable location, stable banking system - this and many other things attract businessmen to Hong Kong from all over the world. As before and today a business bank account opening in Hong Kong is of particular interest among businessmen. The bank account in Hong Kong increases the company prestige, positively influences the building of strong relationships with customers and suppliers in the local market, and is also an excellent tool for entering international markets. In addition to all this, Hong Kong banks are known for providing modern financial instruments, such as trade finance.','<p style=\"text-align: center;\">  Favorable political climate, developed economy, favorable location, stable banking system - this and many other things attract businessmen to Hong Kong from all over the world. As before and today <span>a </span><span>business bank account opening</span> in Hong Kong is of particular interest among businessmen. The bank account in Hong Kong increases the company prestige, positively influences the building of strong relationships with customers and suppliers in the local market, and is also an excellent tool for entering international markets. In addition to all this, Hong Kong banks are known for providing modern financial instruments, such as trade finance.</p><p style=\"text-align: center;\">  Let\'s take a closer look at why many businessmen are striving to open a bank account in Hong Kong.</p><p>  </p><div><pre style=\"font-family: Georgia, \'Times New Roman\', Times, serif; font-size: x-large; font-style: italic; line-height: normal; font-weight: bold; color: #688297; text-align: center;\">Advantages of Opening a Hong Kong Bank Account</pre></div><p>Consider the key factors that make Hong Kong popular and popular among international business people:</p><ul><li><strong>Geographical location</strong></li></ul><p>  It\'s no secret that in recent times most businessmen are striving to Asia, and Hong Kong, which is in the heart of Asia, is often the most popular choice. It is a four-hour flight from all major markets in Asia.</p><p>  Strategically located in close proximity to China, Hong Kong also plays a very important role in accessing the Chinese market. Indeed, a large number of measures were taken, thanks to which Hong Kong became a \"gateway to China\". Because Hong Kong is an hour\'s drive from the Pearl River Delta, which is the world\'s largest manufacturing region, it has access to a multimillion-dollar consumer market in southern China.</p><p>  Considering the Close Economic Partnership Agreement (CEPA) concluded between Hong Kong and China, this jurisdiction is undoubtedly the most favorable for business, and also provides an opportunity to take advantage of future opportunities in Asia.</p><ul><li><strong>Unique culture</strong></li></ul><p>  The history of Hong Kong, which was a British colony, and now under the influence of China, had a powerful influence on its culture. It mixed in itself the characteristics of the two dominant economies today. British influence in Chinese culture is a significant advantage for business, as it makes it easier for entrepreneurs in international affairs to understand the largest Asian market. Hong Kong is also home to a large number of expats and annually receives millions of tourists, which contributes to the unprejudiced attitude of the local population towards foreigners.</p><p>  Local residents live in such a bicultural environment and accepted the business practices of both the eastern and the western world. Therefore, they are accustomed to work, they are able to deal effectively and positively with the conduct of business. The same applies to local banks, where the service is at a high level. By the way, the story was influenced by the fact that in Hong Kong the two official languages are Chinese and English. Therefore, to open a bank account in Hong Kong you don\'t need to know Chinese, you can be served entirely in English. And at the same time, despite the high level of service, the rates in Hong Kong banks are much lower than, for example, in European banks.</p><p>  In general, the culture of Hong Kong is business oriented. And this orientation applies not only to the population, but also to the government, which supports the business development in every possible way, and the immigration policy is designed to attract professionals, talents and investors from all over the world to maintain Hong Kong\'s competitiveness.</p><ul><li><strong>Loyal taxation</strong></li></ul><p>  Hong Kong is considered the free economy in the world for the 24th consecutive year, and also one of the least corrupt countries on the planet. In general, it\'s a safe, efficient and reliable jurisdiction for international business and keeping its capital, which is distinguished by a simple tax system with one of the lowest income tax rates - only 16.5%. And then, this tax is levied only on the profits that are earned directly in the territory of Hong Kong. Also, businessmen are attracted by the absence of taxes on dividends, royalties and interest, capital gains tax and sales tax. Ultimately, despite the provision of such significant tax benefits, Hong Kong isn\'t considered an international tax haven, but rather, it is positioned as a prestigious financial center.</p><ul><li><strong>Wide opportunities</strong></li></ul><p>  We have already mentioned the possibilities that Hong Kong itself opens for the businessman. But it\'s necessary to say about the local banks themselves. First, accounts in Hong Kong banks open multi-currency - in 10 popular currencies, including Chinese yuan. By the way, operations in RMB are not limited by quantity or amount. This will significantly simplify trade relations with Chinese suppliers. Secondly, there is no currency control in Hong Kong, that is, you can receive any amount from where you want and send them wherever you want. Thirdly, Hong Kong banks provide very convenient account management - through Internet banking, telephone banking, etc. And bank transfers are carried out very quickly, which is convenient when carrying out a large number of transactions.</p><ul><li><strong>Reliability of Hong Kong banks</strong></li></ul><p>  The funds reliability placed in Hong Kong banks is guaranteed by Hong Kong\'s compliance with international law, as well as its high level of financial legislation. Thanks to the high security of funds and other capitals placed in Hong Kong banks and their inviolability, they have proved themselves both in the financial world of Asia and in the rest of the world.</p><ul><li><strong>Prestige</strong></li></ul><p>  Hong Kong ranks 6th in The Global Competitiveness Report 2017-2018. This study is carried out by the World Economic Forum, which defines national competitiveness as the ability of the state and its institutions to ensure stable economic growth. According to the authors of the study, countries with a high level of competitiveness provide the highest level of well-being of their citizens.</p><p>  </p><p>  Also, Hong Kong ranks 26th in the Gross National Income (GNI) per capita. CNI is a combination of the value for all services and goods that were produced on country during the year (that is, gross domestic product, GDP) plus the revenues received by organizations and citizens of the state from abroad, and minus revenues, which were removed from the state by foreign organizations and citizens. Thus, GNI is one of the main indicators of economic development. This indicator shows the number of goods and services produced on average per citizen in the country, or in other words, gives an idea of how much each citizen would receive if all national income for the year was distributed among all residents equally. Also, this indicator is often called the \"Measurement of Living Standart\". The per capita income in Hong Kong in 2017 was $ 43,240. Thus, it is a country with high income per capita.</p><p>  Hong Kong takes the third place in Global Financial Centres Index, located after New York and London. The Hong Kong Stock Exchange during 2015 and 2016 ranked first among all stock exchanges in the world in terms of the number of placed placements. In 2016, 126 companies conducted an IPO on the Hong Kong Stock Exchange, which attracted about 25.1 billion US dollars from investors.</p><p>  In addition, Hong Kong is actively developing in the field of technology deployment. Every year, large funds are allocated for the development of this sector. For example, in 2018, the local government allocated 50 billion HK dollars, which is five times more than in 2017. 20 billion of this amount are planned to spend on the beginning of the creation for a new huge scientific and technological park in the border area of Hong Kong. This will be a key IT-research base, located on 87 hectares of land. Thus, it will be four times larger than the current Hong Kong Science Park.</p><p> </p><p style=\"text-align: center;\"><em> For professional advice how you can open an account in <em>Hong Kong </em>banks, please contact <strong>Castle Family Office</strong> specialists!  Please write us at:</em></p><p style=\"text-align: center;\"><em> </em><em><strong><em><span face=\"Calibri\" size=\"3\"><span lang=\"EN-US\"><span face=\"Calibri\" size=\"3\"><a href=\"mailto:info@castle-familyoffice.sg\">info@castle-familyoffice.sg</a></span></span></span></em></strong> </em></p>','posts/банки-Гонконга.jpg','hk-bank-account-for-entrepreneurs',NULL,NULL,'PUBLISHED',0,'2018-06-06 08:30:00','2021-11-25 16:56:05',124),(66,1,2,'Ultra High Net Worth Individual use \"Family Offices\" for their asset protection',NULL,'The richest people and families from all planet have moved to a new stage of protecting their assets. They have real family offices that solve any tasks related to preserving, multiplying and transferring wealth within the family.','<p>The richest people and families from all planet have moved to a new stage of protecting their assets. They have real family offices that solve any tasks related to preserving, multiplying and transferring wealth within the family.</p><div><h2 class=\"justifyleft\"><strong>What is Family Office?</strong></h2></div><p>A family office for <span>High</span><span>-</span><span>net</span><span>-</span><span>worth individual</span><span> (</span><span>HNWI</span><span>) and <span>Ultra-</span><span>high-net-worth individuals</span><span> (UHNWI)</span></span> is called small companies, in which diverse specialists work for one client - a wealthy family. Lawyers, accountants, analysts, financiers and even psychologists gather in a single team and work on an ongoing basis.</p><p>Experts call this a new stage for wealthy people. If in the past the super-fortresses used to attract third-party specialists, the bankers asked, now they have a personal team.</p><p>This gives certain advantages: the cooperation degree within the team is higher than when attracting miscellaneous specialists; the trust degree and information disclosure to them is also higher. This allows you to take into account many more factors, from the state of trusts for children, to the state of health of the head of the family - that information that strangers are most often not informed.</p><p>The family offices were especially popular where wealthy individuals and families live in clusters: London, New York. In 2010 in US, 50 richest people used the services of such family offices and gave assets under management for $ 500 billion.</p><p>On the average, a wealthy person or family can afford a full-fledged family office if the state exceeds $ 200-250 million. Then it makes sense to hire people on a regular basis and increase the already available capital.</p><p>There are exceptions when such a family office is created not for one family, but for several. Then the state of each individual family is about 100 million.</p><div><h2 class=\"justifyleft\"><strong>What is the result of using family offices?</strong></h2></div><p>A whole team of highly specialized experts works in family offices. They take into account the nuances of taxation, investment opportunities, age and the real location of each family member. They have in their hands a powerful lever in the form of a large state of employers.</p><p>What does this result in the end?</p><p>The ability to earn more, save longer, transfer more safely.</p><p>It turns out that the rich do not just earn more. They earn much more. And they become richer and richer.</p><p>Specialists of the family office not only increase capital. They protect and strengthen it. Use trusts of New Zealand? Transfer your offshore company to Nevis? Diversify in gold and bitcoin? Or buy property in a newly opened resort town?</p><p>They don\'t take 2-3 hours to analyze your situation. They are completely immersed in it. They do not look for occasional opportunities, but constantly compare and choose the best for their employers.</p><p>And it works.</p><p>Of course, this requires a certain degree of confidence. This is ensured both by contracts and simply by human relations. Servants of family offices are not only consultants in finance and accounting. Often these are helpers in life and even friends.</p><p>They help with the purchase of clothes, the search for airplanes tickets, the choice of a gift for a relative, etc. A kind of support service, a call center for one family.</p><p>The same people will be engaged in drafting documents in the event of a divorce, will help resolve family conflicts and preserve wealth intact, despite human troubles (as far as possible).</p><p>Issues of assets transfer by inheritance arouse many disgust, but the more reserves there were, the more offensive they are to lose. Therefore, the offices pay close attention to the creation of structures that will help minimize the taxation in the transfer of inheritance.</p><p>In this sense, an example of Great Britain is exemplary, when billions of pounds are inherited, and taxes are at best several million. But in Britain, the inheritance tax is 40%, if the amount is above 325,000 pounds.</p><div><h2 class=\"justifyleft\"><strong>Is it important to learn from the Family Offices experience?</strong></h2></div><p>If you are a wealthy person, then the asset protection question is acute for you. Especially in Russia, Ukraine, Kazakhstan and many other countries.</p><p>Do you need to learn from the family offices experience to develop a strategy for protecting and multiplying capital? This is a reasonable idea if you have resources and people you can trust. If the whole team is working for your benefit, then why not take advantages from opportunities that are opening up?</p><p>But it should be noted that various human rights organizations, in particular, who are struggling with inequality in society, to such offices issues. How correct and ethical are they? How fair are they? How unfair is their advantage?</p><p>To be brief, this is a huge dishonest advantage. And you will be accused of various sins.</p><p>But for some reason those who loudly scream, usually defiantly protects the life and future of their children, their welfare and doesn\'t see any difference in it. But let\'s leave this more social issue for another time.</p><p>Very important is that family offices really offer the opportunity not only to protect assets, but also to do it as efficiently as possible. This is an expensive pleasure for those who have already reached certain heights and incomes. But the potential return on such an investment is like buying an entire company in analytics and generating profits.</p><p style=\"text-align: center;\">In general, this is exactly the properly created and controlled family office. He has a certain degree of freedom, diverse experts, a large database. And together it gives a massive and voluminous result.</p><p> </p><p style=\"text-align: center;\"><em> Get more information about <strong>Castle Family Office</strong> capabilities, by writing us at:</em></p><p style=\"text-align: center;\"><em> </em><em><strong><em><span face=\"Calibri\" size=\"3\"><span lang=\"EN-US\"><span face=\"Calibri\" size=\"3\"><a href=\"mailto:info@castle-familyoffice.sg\">info@castle-familyoffice.sg</a></span></span></span></em></strong> </em></p>','posts/portfolio.jpg','what-is-family-office',NULL,NULL,'PUBLISHED',0,'2018-06-07 02:00:00','2021-11-25 16:56:04',145),(67,1,2,'Family Offices in UAE',NULL,'The family business provides an opportunity to concentrate all profits, all property, all assets within one family name. This is a fairly common method among wealthy families, especially abroad. In order to manage family assets more efficiently, it is desirable that it is conducted within the office of one company. The practice of family offices is very popular abroad, including in the UAE, but has not yet managed to conquer the countries of the post-Soviet space.','<p>The family business provides an opportunity to concentrate all profits, all property, all assets within one family name. This is a fairly common method among wealthy families, especially abroad. In order to manage family assets more efficiently, it is desirable that it is conducted within the office of one company. The practice of family offices is very popular abroad, including in the UAE, but has not yet managed to conquer the countries of the post-Soviet space.</p><p></p><div><h2 class=\"justifyleft\"><strong>The story of Family Offices</strong></h2></div><p>It\'s generally believed that the prototypes of family offices were butlers who, since the XV century, took over the management of affairs and the management of the house of a large noble family. Then noble families began to hire managers or attorneys, who were looking after family property and family estates, solving financial problems, helping to increase assets, etc.</p><p>Family office in the form as it is now, was born in the country that gave the world and the offshore industry: the US. The first dollar American millionaire in the XIX century realized how much easier it would be to follow the management and distribution of its assets, if they are concentrated in the hands of one manager. So there was the Family Office, where the rich provided various kinds of help: legal, managerial, banking, etc.</p><p>The founders of family offices became Morgans family - American multimillionaires, who in 1838 opened the \"Morgan House\" - a corporation that managed all (very considerable, by the way) assets of their family. The example of the Morgans was followed by another richest American, John Rockefeller, who at the end of the XIX century (in 1882) gathered a group of specialists from various fields whom he fully trusted and handed over to them the management of all his property. American experiments with family offices were so successful that they soon began to be used by other countries.</p><div><h2 class=\"justifyleft\"><strong>Types of Family Offices and their popularity abroad</strong></h2></div><p>Today, family offices continue to hold their popularity in the state of their birth - the US, but they are also enjoying the use of other countries. The European Center for Family Office is Switzerland. It was here that a huge number (about half a thousand) of family offices was concentrated, which mainly serve foreign clients. On average, every Swiss office employs only a few dozen employees who turn the assets of the world\'s richest surnames, each of which transfers at least $ 10 billion to the management of specialists in family offices.</p><p>At the beginning of the birth of this industry, one family office managed the property of a particular family. Today, the situation has changed somewhat, there are not so many Family Office that devote their time and energy to one genus. At best, they work with several families, but more often such offices are ready to serve an unlimited number of clients. They even started calling Multi Family Office.</p><p>Today there are three types of family offices:</p><ol><li>Class A. Their employees specialize exclusively in finance and real estate.</li><li>Class B. In the role of specialists are banks and consulting companies, so it\'s no surprise that their specialization is finance.</li><li>Class C. Small legal offices help their clients carry out transactions with real estate.</li></ol><div><h2 class=\"justifyleft\"><strong>What is offered by Family Offices to its clients?</strong></h2></div><p>Today jurisdictions in which family offices are popular are Singapore, Switzerland (Zurich), United Arab Emirates (Dubai), Hong Kong. The services provided by Family Office, when compared with the XIX century, significantly expanded. Today, family offices working in different parts of the world offer their customers:</p><ul><li>Advising on various issues. Family Office clients receive legal, financial, tax, practical advice on the prudent management of their own assets.</li><li>Carrying out audits, both annual at the request of tax departments, and unplanned in a particular sector.</li><li>The choice of a bank for the storage of funds (not necessarily in the country of residence of the holder of assets), the selection of the optimal account type for the client, help in opening it.</li><li>Analysis of possible risks and the methods invention that are able to minimize them.</li><li>Carrying out operations that are necessary for preserving and multiplying the customer\'s funds, for example, creating corporate structures, opening companies in tax-free jurisdictions, etc.</li><li>The invention and implementation of ready-made business projects that will help increase the annual profit.</li></ul><p>Specialists in family offices are paid by agreement. This may be a fixed monthly or annual remuneration, even with premiums and holidays specified in the contract. Sometimes clients pay to Family Office staff in accordance with the level of effort they have made to preserve and multiply the assets of the family. Recently, the work of family offices employees for a percentage of the assets amount that they manage has become quite popular practice. This method of payment forces specialists to work harder, since their annual income directly depends on the amount of money the client has.</p><h2><strong><span style=\"text-align: center;\">Family Industry in UAE</span></strong></h2><p>The Arab Emirates is a country that is just perfect for business, and for Funds safety, and not so much of local residents as of foreigners. There are a lot of SEZs here that allow foreign businessmen to freely open companies with full ownership. The world\'s best banking institutions are located here that they agree to open accounts for foreigners when all registration conditions are met. Not surprisingly, with the arrival of a large number of foreign investments on the UAE market, family offices have also been brought here.</p><p>Dubai is the main emirate, where more local and international banks have concentrated. Family Office, which works in Dubai, provides customers with various services:</p><ul><li>preserve and increase family capital;</li><li>promote unhindered his transfer by heredity;</li><li>protect clients\' money from wastage;</li><li>minimize risks;</li><li>offer effective projects that are capable of making a profit;</li><li>they deal with the immigration service, which issues resident visas;</li><li>choose the real estate necessary for work and life in the UAE, are engaged in its acquisition;</li><li>take on tax planning, reducing this expense item to a minimum;</li><li>choose the best among UAE banks and help in opening an account;</li><li>looking for new partners and shareholders;</li><li>offer profitable investment projects, etc.</li></ul><p class=\"MsoNormal\" style=\"margin: 0cm 0cm 0.0001pt -10.5pt; text-align: justify; line-height: 18pt; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;\"><span style=\"font-size: 10.5pt; font-family: \'Arial\',sans-serif; mso-fareast-font-family: \'Times New Roman\'; color: #444444; mso-fareast-language: RU;\"> </span></p><p class=\"MsoNormal\" style=\"margin-bottom: 7.5pt; text-align: justify; line-height: 18pt; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;\">Not so long ago <span>another family office</span> opened in Dubai, which deals with the assets of extremely wealthy families, without wasting their talents on third parties. Clients of this office can become foreign childbirth, which owns large assets. The Dubai family center has the appropriate certification, can offer its clients the services of the best specialists in finance, law, economics, etc.</p><p><span style=\"color: #444444; font-family: Arial, sans-serif; font-size: 10.5pt; text-align: justify;\"> </span></p><p><span style=\"color: #444444; font-family: Arial, sans-serif; font-size: 10.5pt; text-align: justify;\"> </span></p><p style=\"text-align: center;\"><em> Get more information about <strong>Castle Family Office</strong> capabilities, by writing us at:</em></p><p style=\"text-align: center;\"><em> </em><em><strong><em><span face=\"Calibri\" size=\"3\"><span lang=\"EN-US\"><span face=\"Calibri\" size=\"3\"><a href=\"mailto:info@castle-familyoffice.sg\">info@castle-familyoffice.sg</a></span></span></span></em></strong></em><span style=\"color: #444444; font-family: Arial, sans-serif; font-size: 10.5pt; text-align: justify;\"><br /></span></p>','posts/uae.jpg','fo-in-uae',NULL,NULL,'PUBLISHED',0,'2018-06-07 04:00:00','2021-11-25 16:56:02',154),(68,1,2,'Why need a Family Office in Switzerland or Liechtenstein?',NULL,'Clients from the CIS countries have recently been increasingly asked to organize a family office for them in one of the most prestigious offshore European jurisdictions and explain this desire in just four words: \"We want a family office.\" In such situation it is extremely important to find out whether the client really needs a family office or he just needs a good account at a reputable private bank, life insurance in Switzerland and a good secretary.','<p>Clients from the CIS countries have recently been increasingly asked to organize a family office for them in one of the most prestigious offshore European jurisdictions and explain this desire in just four words: \"We want a family office.\" In such situation it is extremely important to find out whether the client really needs a family office or he just needs a good account at a reputable private bank, life insurance in Switzerland and a good secretary.</p><p> </p><p></p><div><h2 class=\"justifyleft\"><strong>What is Family Office?</strong></h2></div><p>There are a great many definitions of the term \"family trust management company\". The family office can be the family\'s main adviser, pool resources, organize and implement the transfer of the state from one generation to another, represent a single contact person for the whole family on proper preservation and state management. At the same time, family offices not only solve financial problems, but also affect the social aspects of welfare, and pay attention to the human factor.</p><p>The Family Office organizational form can be very different - from one person to a company with a staffed staff. At the moment there are two main types of family offices:</p><h3><b>1) <span style=\"text-decoration: underline;\">Single Family Office – SFO</span></b></h3><p>Such family offices provide services to only one family. Since the level of costs for the maintenance of this type is high enough. These type is more suitable for families and entrepreneurs with a fortune in excess of 500 million US dollars.</p><h3><b>2) </b><b><span style=\"text-decoration: underline;\"></span></b><b><span style=\"text-decoration: underline;\">Multi Family Office – MFO</span></b></h3><p>Such a family office renders services to several families, related to each other by kinship ties or by a common business. The condition of each family usually exceeds $ 100 million. Multifamily offices can also be created, manned and managed by banks or trust companies.</p><p>In Switzerland and Liechtenstein, about 110,000 people are employed in the private wealth management sector. Not all of these specialists are Swiss citizens, many have come from other European countries. Workers of Swiss family offices are united by one thing: they possess the necessary knowledge, experience and qualifications for managing large private capitals. Switzerland and Liechtenstein provide such specialists with a platform for developing political and legal stability, traditional high level of private property protection, high AAA rating from Standard and Poor\'s. The Principality of Liechtenstein also completely lacks personal indebtedness.</p><p>For a thorough understanding family offices activities, it\'s important to understand the differences between a family office and a multi-family office.</p><div><h2 class=\"justifyleft\"><strong>Differences between SFO and MFO</strong></h2></div><p>The Family Office creation for the maintenance of one family requires quite a large expenditure. If a client wants to have his own family office, he will have to spend a lot of money to create one. Here, both the costs of legal support and the IT infrastructure, and the search for qualified employees (to whom it is important to have a certain amount of confidence), reliable premises and much more.</p><p>Usually the Family Office staff consists of three people:</p><p>1) Head, who acts as an adviser. Usually this is a person whose family or entrepreneur knows and trusts him well and who is usually an experienced banker or trustee, a lawyer.</p><p>2) Administrator</p><p>3) Assistant</p><p>Experience shows that, as a rule, a wealthy family offers a lawyer, whom she trusts, to work exclusively for her. Then she makes a similar proposal to a trusted banker, and finally picks up this pair of qualified assistant. Only large entrepreneurs and families that have a very large fortune can afford such costs to manage their assets and ensure that they are in control.</p><p>However, it\'s in connection with luring the leading families of leading lawyers and bankers that the main problem of the family office is connected. Lawyers and bankers, whom HNWI lured out of solid investment banks and law firms, are gradually losing touch with their professional environment. It\'s about the same as locking a beautiful girl in four walls, making her four children and not waiting for her to become greasy and discouraged. Lawyers and bankers, working in large, serious companies, enrich their professional experience with new ideas and knowledge every day. The loss of communications threatens professional stagnation and a decrease in the efficiency of the family office. And it\'s very bad if the employees of the family office understand this, because once they understand it, they will leave to work in a multi-family office, a network of family offices, back to the bank or another family office, which will send them to conferences and seminars - to do networking and did not lose contact, but overgrew them. Who knows, maybe your employees will be able to turn your family office into a multi-family, and not run away from boredom.</p><p>Multifamily office is advantageous in that its costs are divided into several families or entrepreneurs, especially if services are provided by a well-known asset manager or trust company. Having analyzed in detail the expenses for the maintenance of the family office, many even very wealthy people decide that it would be good to separate such fixed expenses of families by 5. Often wealthy families create family offices with a direct calculation that other families with whom they have known for several generations, will join their family office and help turn it into a multi-family one. But in practice, this happens rarely and familiar families do not want information leakage in their circles. Out of caution and at their discretion, such families will prefer to enter a well-known and respectable structure that manages several family offices. They will not want to enter another family office. Benefits and benefits that an entrepreneur and his family will receive from participating in a multi-family office that is included in a personal property management consulting company or in a trust company. In this case, there is a \"scale effect,\" which, although not always, reduces costs and costs for the family office, but increases the quality and reliability of the work.</p><p>In the activity such office leans on the big experience and knowledge thanks to long established and active operating communications with the trusted advisers, close friends and other competent experts. This makes the work more efficient, and the ratio of income and expenses is more pleasant and appealing to the client.</p><p>If the multifamily office is a part of an operating trust company, then compliance with legislative norms and management in such multi-family offices is initially ironically observed. Another advantage of a multi-family office in a large organization is the availability of qualified personnel who will not make mistakes in the event of an unforeseen absence of key members of the family office.</p><p>So what is a family office - a company or a trust? Well, let\'s try to understand the organizational and legal structure of family offices.</p><h2>Family Office organizational and legal structure</h2><p>It is easiest to register a family office as an LLC, a limited liability company. Initially, everyone does so, since this is a simple, regulated and recognized form of creating a legal entity. In Switzerland and Liechtenstein, there are no specific rules that regulate the formal operation of family offices. Once family offices begin to manage the assets of more than one person, they usually get permission from a self-regulating organization or financial market supervision authority to recognize them as banks or brokers (external asset managers).</p><p>Sometimes families load all the functions of the family office for one person, called \"Treuhänder\", but in fact, it is a trust manager or a trusted agent.</p><p>In Switzerland, the professional position of \"Treuhänder\" is not regulated yet and theoretically anyone can take such a position. However, there are professional bodies and self-regulating organizations that put forward certain requirements, which must match the person claiming the position of \"Treuhänder\". Competence, practice and diploma of education are needed.</p><p>In Liechtenstein, an individual can perform the duties of a \"Treuhänder\" only if it meets clearly specified requirements and successfully passed the exam organized by the Liechtenstein Financial Market Supervisory Authority. In addition, if an already passing exam \"Treuhänder\" wants to start independent activities in Liechtenstein, then, to carry out such activities again, it is necessary to meet certain criteria and obtain permission from the Liechtenstein Financial Supervision Authority. Thanks to the professionalism and long way to this position, \"Treuhänder\" is very respected and revered in Liechtenstein people and no matter how much money you have, you can not treat them like slaves, although some of the services that you can ask them may be and not quite classical. What services are provided by family offices?</p><h2>Family Offices Services</h2><p>Different and very different. Some family offices are used only as an asset management function and control the family\'s investments in various banks. Family offices consolidate investments, prepare tax reporting and maintain communication between the family and various offshore and foreign banks. Now, I hope, it became finally clear why the theme of family offices is so close to our blog. Family offices and their employees for HNWI and their families serve as a personal super-secretary. If they agree to a secretarial service, then it is up to them to take care of the selection of the crew of your personal airplane before organizing the services for the fifth dog\'s paddling of your youngest daughter. Family offices perfectly do such things as organizing the education of children abroad, obtaining visas, second passports, organizing parties and banquets, booking hotel rooms (concierge services).</p><p>There are even more multifunctional family offices that help their clients not only in managing bank assets, but also advise when choosing a holding structure for non-bank assets. Such family offices will clearly tell you how best to own factories and steamships in your case - from your personal name or on behalf of an offshore company, or on behalf of an offshore company that the trust owns. In fact, the question of who and how to register real estate, cars, private collections, horses, yachts - is extremely important.</p><p>It happens that the best family offices grow out of former sellers and resellers of offshore and foreign companies that have a well-coordinated team and knowledge of the types of organizational and legal structures of companies in such a number of countries that even the best Swiss Treuhänderu did not even dream of. In any case, the family office usually performs the functions of such counseling in close cooperation with the attorneys and lawyers. Family offices, with the support of specialized professionals in the right questions, advise asset owners on strategic issues both on existing offshore and foreign companies, and on various potential projects. Family offices prepare feasibility studies for new ventures and sometimes can offer their HNWI clients to transfer certain activities to more acceptable offshore or foreign jurisdictions.</p><p>In order to properly account for their actions and for the family situation, family offices prepare detailed and detailed reports that can then be used as evidence of compliance with tax laws.</p><p>Family offices deal with issues of charity and philanthropy, social responsibility and other value-oriented aspects. Sometimes the head of a well-to-do family in the family office is entrusted with questions of transferring the fortune to the next generation, developing methods for training the current generation of owners and the next generation in a responsible attitude to the inheritance of the state. Family offices can even develop guidelines for increasing the value of the estate.</p><p>The family office can be entrusted with the organization of annual meetings of all family members, on which all close and distant relatives gather each year not only to discuss financial matters, but also to select the next family leaders, and also to adopt the experience of the generation that was at the origin of the family and formed family values.</p><p>It is important to understand that, although the management company gets a lot of money for its work, it is very important for her to truly recognize her merits before the family. In fact, the family office becomes very close to the client, since if the office staff performs their work correctly, the activities of the family office contribute to the unification and strengthening of the family, builds loyalty to family values amongst individual members of the family, and especially the young generation, and helps build whole dynasties of entrepreneurs.</p><p>Past experience has shown that Switzerland and Liechtenstein as jurisdictions have proven themselves in the private service of wealthy families. To date, more and more multifamily offices are being formed in these jurisdictions. Undoubtedly, both beginners can have in the staff professionals with the necessary qualifications and even practical experience to meet the needs of the most demanding customers.</p><p><span style=\"color: #444444; font-family: Arial, sans-serif; font-size: 10.5pt; text-align: justify;\"> </span></p><p><span style=\"color: #444444; font-family: Arial, sans-serif; font-size: 10.5pt; text-align: justify;\"> </span></p><p style=\"text-align: center;\"><em> Get more information about C<strong>astle Family Office</strong> capabilities, by writing us at:</em></p><p style=\"text-align: center;\"><em> </em><em><strong><em><span face=\"Calibri\" size=\"3\"><span lang=\"EN-US\"><span face=\"Calibri\" size=\"3\"><a href=\"mailto:info@castle-familyoffice.sg\">info@castle-familyoffice.s<span style=\"text-decoration: underline;\">g</span></a></span></span></span></em></strong></em><span style=\"color: #444444; font-family: Arial, sans-serif; font-size: 10.5pt; text-align: justify;\"><br /></span></p>','posts/swiss_eu.jpg','why-fo-in-ch-li',NULL,NULL,'PUBLISHED',0,'2018-06-08 00:30:00','2021-11-25 16:56:02',147),(69,1,2,'What is the Automatic exchange of Information and what is it for?',NULL,'The new global standard on Automatic Exchange of Information (AEOI) reduces the possibility for tax evasion. It provides for the exchange of non-resident financial account information with the tax authorities in the account holders’ country of residence. Participating jurisdictions that implement AEOI send and receive pre-agreed information each year, without having to send a specific request.','<p><span>The new global standard on Automatic Exchange of Information (AEOI) reduces the possibility for tax evasion. It provides for the exchange of non-resident financial account information with the tax authorities in the account holders’ country of residence. Participating jurisdictions that implement AEOI send and receive pre-agreed information each year, without having to send a specific request.</span></p><div><h2 style=\"text-align: center;\"><strong>What is AEOI?</strong></h2></div><p>This is an international system of agreements and technical solutions that allows a specific country to obtain information about financial assets of tax residents outside its territory.</p><p>The main task of automatic exchange is the collection of information to combat tax evasion. Example: German citizen opened an account in Switzerland and didn\'t declare it. He also didn\'t indicate the income on it in the declaration. The German tax service will compare the data in the declaration with the reports of colleagues from Switzerland (and other countries) and add taxes with the corresponding penalties.</p><p>In fact, today there are two systems of AEOI in the world. The first is FATCA (Foreign Account Tax Compliance Act) - an American law that requires foreign financial institutions to report on the contributions of citizens and US tax residents to the IRS (US tax service). In case of refusal to transfer information about an American citizen, bank or other financial institution, sanctions are threatened.</p><p>The second system is Common Reporting Standard (CRS) or the Single Reporting Standard. The Creator is the Organization for Economic Development and Cooperation (OECD), which conducts the project in the framework of combating the erosion of the tax base.</p><p>FATCA collects information only in favor of the US, and CRS operates on the basis of the Multilateral and Bilateral Agreements between more than a hundred countries. With CRS, states exchange data with each other on a voluntary basis. In some cases, the state has the right to refuse to receive information from the other party, but at the same time continue to send data from itself.</p><p>CRS most often called the automatic exchange of tax, financial or banking information. However, it is worth remembering: if you have an American passport, then you must report to the IRS and pay taxes in the States, regardless of where and how long you live.</p><p>Automatic exchange of banking information must be completed by the end of September each year. The first exchange between member countries took place in September 2017 for 2016. In 2018, there will be a second exchange, to which new countries will be connected. They will provide information for 2017.</p><div><h2><strong>What information can be transmitted?</strong></h2></div><p>Financial institutions always collect information about their clients. In the framework of automatic exchange, they undertake to collect and transmit very specific data.</p><p>The client will be asked to provide: full name, residential address, specify the country of tax residence, tax number (TIN), account number, data on balances and movement of funds on the account. If it\'s a company (the exchange works for individuals and legal entities), then it\'s necessary to know the business registration data, identification number, beneficiaries data (true beneficiaries of the company).</p><div><h2><strong>How does it works? Who are the participants?</strong></h2></div><p>The system is quite simple: the bank serves the customer and collects information about him. After that he prepares a package of data on foreign residents and sends them to the responsible tax service. There, the data is sorted by countries with which a bilateral agreement is concluded, after which they are sent by the array.</p><p>It should be noted that in spite of the fact that the Multilateral Convention on Mutual Assistance has been signed by more than 100 countries, not every country exchanges with each. First, only 79 countries have activated the automatic exchange at the moment. Secondly, even in this case, you can choose with whom to cooperate, and with whom not.</p><p>Some of them send data to all 79 states, but accept only part of it, for example, Great Britain (receives from 63 countries, and sends to 79).</p><p>During 2018, it\'s planned to connect several more countries to the exchange. Ideally, all countries of the world connect to the CRS system. There are opponents of bilateral exchange and it will be very interesting to see how the world will try to persuade the US to transmit information from the secret companies of Delaware and Wyoming. States receive data about their citizens with the help of the FATCA and are reluctant to share data on foreign investors on their territory.</p><p>Thanks to the work of AEOI, different countries authorities have already collected additional taxes for billions dollars. You can be sure that the process of information-sharing networks will continue.</p><div><h2><strong>Who are reporting?</strong></h2></div><p>To meet the requirements for reporting in the CRS framework is necessary for financial institutions (FI). Banks, insurance companies, non-state pension funds, investment funds, dealers, brokers, etc. fall under this definition.</p><p>They are obliged to check clients and their funds for legality in the framework of anti-laundering legislation, as well as transfer data on depositors to the tax service in the framework of CRS and FATCA. In case of concerns regarding the client, it is easier for the bank to refuse to service it, so as not to lose the banking license.</p><p>That is why the preparation for opening a bank account is an extremely important stage. Errors in documents, the inability to prove the legality of the funds origin and much more will cause the client to refuse to open an account.</p><div><h2><strong>Will you have to pay more taxes?</strong></h2></div><p>Due to the fact that the tax authorities find out about the foreign financial assets of the residents, the natural question arises: do you have to pay more taxes? Only if the person evades taxes.</p><p>The main objective of the system is to make sure that tax residents pay taxes in full. If a person declares foreign assets and pays the taxes required by law, then there will be no claims against him.</p><p>However, if a person has opened a secret account in a distant offshore company that is now exchanging data with the country of residence of a person, then it is threatened by taxes and fines. For particularly large tax evasion in some countries, including criminal prosecution and prison.</p><div><h2><strong>Privacy of personal data</strong></h2></div><p>According to the OECD framework, personal and tax data in AEOI are protected very well. The requirement of the Standard is that security is provided, both by technical and legal means.</p><p>However, in some countries, the security of personal data raises concerns. This also applies to Russia. For example, Switzerland reported that it would refuse to exchange with Russia if its information was not used for its intended purpose (not only in tax matters, but wider).</p><div><h2><strong>How to avoid Automatic Exchange?</strong></h2></div><p>There are several approaches.</p><ol><li>Transfer assets to a country which not transfer information to the state of your tax residence. Unfortunately, the measure is temporary: after a few years all or almost all states join automatic exchange, and those that do not join will be extremely rogue and cooperate with them will be extremely difficult (unless the US remains in an independent regime).</li><li>Close foreign accounts and get rid of foreign accountable assets. Not all foreign assets are required to be declared, but financial ones, such as bank accounts, are too convenient to refuse them. Moreover, it is necessary to diversify the risks, so rejecting foreign assets is a short-sighted step.</li><li>Change the tax residency. This will not save you from reporting, but will reduce the risks of disclosing personal information to journalists, raiders and greedy officials outside the tax service. In addition, in some jurisdictions, tax residency implies reduced or even zero taxes on foreign incomes and not only.</li></ol><p>Regardless of the option chosen, remember: without problems, only those assets that have a legal origin and complete documentation that prove the legality of the funds for their acquisition will turn out to be. It doesn\'t matter if you remain a tax resident in Russia or move to Andorra, it\'s best to own legitimate assets so that you do not have to deal with unnecessary problems when working with tax specialists.</p><p><span style=\"color: #444444; font-family: Arial, sans-serif; font-size: 10.5pt; text-align: justify;\"> </span></p><p><span style=\"color: #444444; font-family: Arial, sans-serif; font-size: 10.5pt; text-align: justify;\"> </span></p><p style=\"text-align: center;\"><em> If you have any questions, feel free to ask them to<strong> Castle Castle Office</strong> specialists! Write to us at:</em></p><p style=\"text-align: center;\"><em> </em><em><strong><em><span face=\"Calibri\" size=\"3\"><span lang=\"EN-US\"><span face=\"Calibri\" size=\"3\"><a href=\"mailto:info@castle-familyoffice.sg\">info@castle-familyoffice.s<span style=\"text-decoration: underline;\">g</span></a></span></span></span></em></strong></em><span style=\"color: #444444; font-family: Arial, sans-serif; font-size: 10.5pt; text-align: justify;\"><br /></span></p>','posts/aeoi.png','what-is-aeoi',NULL,NULL,'PUBLISHED',0,'2018-06-08 02:30:00','2021-11-25 16:56:00',160),(70,1,2,'Residency and citizenship by investments - 10 events that have altered the market last year',NULL,'If you are interested in immigration through the purchase of real estate, citizenship by real estate, as well as residency and citizenship by investments of another plan, you have come to the right place. We will talk about what affects the cost of relevant services and the situation on the world market, analyzing the top 10 factors of the evolution of the market last year.','<p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> If you are interested in immigration through the purchase of real estate, citizenship by real estate, as well as residency and citizenship by investments of another plan, you have come to the right place!<br /></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> <span id=\"result_box\" lang=\"en\"><span>How to prepare for what can be expected in advance?</span> <span>What is the best strategy for protecting and multiplying wealth in the light of your personal circumstances and your priorities?</span> <span tabindex=\"-1\">Our regular readers should be well aware of the answers to these questions.</span></span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> <span id=\"result_box\" lang=\"en\"><span>Quick and easy registration of alternative residency and citizenship by investments is the key to controlling your future and ensuring the welfare of your family.</span> <span>You and your relatives can issue new passports when investing in more than a dozen countries.</span> <span>And options are available for every taste and purse.</span></span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> <span id=\"result_box\" lang=\"en\"><span>Every year the industry of services for registration of residency and citizenship by investment is changing, being still quite young and rapidly developing.</span> <span>And last year has become particularly effective in this regard.</span></span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> After collecting and analysing<span> detailed information about all residency and citizenship programs by investments, we prepared a brief overview of the ten most significant events that occurred in the last twelve months and had a significant impact on the world market.</span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> </span></p><p align=\"center\"><b><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"><span>Factors that affected the industry of services for registration of residency and citizenship by investments</span></span></b></p><p><b><i><span style=\"font-family: Calibri;\" face=\"Calibri\"><span style=\"font-size: medium;\" size=\"3\"> 1. <span>Hurricanes and price wars</span></span></span></i></b></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> <span id=\"result_box\" lang=\"en\"><span>For those few who may have missed this event, we recall that last fall, the hurricanes Irma and Maria hit many Caribbean island jurisdictions with the citizenship for investment programs.</span> <span tabindex=\"-1\">They have a little patted St. Kitts and Nevis and caused massive destruction in the Dominican Republic and Barbuda.</span></span> </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> <span id=\"result_box\" lang=\"en\"><span>Subsequently, in Antigua and Barbuda, they decided to intensify the attraction of funds to fight the disaster, halving the amount necessary to register citizenship through a subsidy to the National Development Fund.</span> <span>Now this opportunity is offered for only $ 100,000 for one applicant instead of the previous $ 200,000.</span></span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> <span>As a result, in the Caribbean, there are even more interesting from a financial point of view programs for individual investors and investors with families.</span></span><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> <span tabindex=\"-1\">Similarly, the authorities of Saint Kitts and Nevis submitted a temporary Hurricane Relief Fund with a donation fee of $ 150,000.</span><span> </span><span>The collection period for this fund expired at the end of March 2018.</span><span> </span><span>But it continued to exist after rebranding in the form of the Sustainable Growth Fund.</span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> <span>The authorities of Saint Kitts and Nevis also decided to add a second option for citizenship for real estate, offering an investment opportunity of $ 200,000 with an asset retention period of seven years in addition to the already available financial option (investing $ 400,000 in nationality for</span><span> </span><span>real estate with a mandatory tenure period of five years).</span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"><span> </span></span></p><p><b><i><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\">2. <span>S<em>tricter</em> requirements for participants in the Canadian investment residence scheme</span></span></i></b></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> <span>The announcement of changes to the conditions of the Quebec Immigrant Investor program was held.</span> <span id=\"result_box\" lang=\"en\"><span>It is planned to increase the minimum amount of investments from 800,000 to 1.2 million Canadian dollars, and raise the requirements for the size of the investor\'s own assets to 1.6 million Canadian dollars to 2 million Canadian dollars.</span> <span>Local authorities took two years to reach a consensus on this issue.</span></span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> <span>It is expected that this innovation will scare away many investors, making more attractive the numerous alternatives to the Quebec Immigrant Investor program like some kind of \"citizenship for investment\" scheme in the Caribbean.</span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> </span></p><p><b><i><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\">3. <span>New programs from the category \"citizenship by investments\" and stiffer competition for the attention of each investor</span></span></i></b></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> <span>Last year, Turkey announced the creation of a program from the category \"citizenship by investments\", offering many investment options and setting the entry threshold at the level of 1 million US dollars in equivalent (when buying real estate).</span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> <span>Then a similar scheme <span>Moldovans</span> was launched.</span><span> </span><span>Moldova, whose passport allows visa-free entry to Europe, offers three very affordable investment options: a donated donation of 100,000 euros, five-year investments in bonds worth 250,000 euros, and investments in real estate for a similar amount with the same period of compulsory tenure</span><span>.</span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"><span> Jordan joined these newcomers by offering foreigners the opportunity to obtain citizenship for investments, paying at least $ 1 million in investments. </span></span><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"><span>And no sooner had the program started, they began to record a significant demand for their product.</span><span> </span><span>The authorities of the country reported overcoming the mark in half a hundred applications in just a couple of months since the launch of the program.</span></span><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> <span>Since then, Turks, having monitored the success of existing players and the emergence of new competitors such as Moldova and Jordan, and also fixing a low interest in their program \"citizenship by investments\", have decided to reduce the entry threshold by 3 times: to $ 300,000.</span><br /></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> <span>After the unexpected success of the Jordanian program, it is expected that Montenegro will also open applications for citizenship by investments under a scheme that the authorities of the Balkan country have been developing for several years.</span></span><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> <span>All these newcomers are trying to attract the attention of wealthy individuals who want to move to live in a safe and prosperous country, fleeing economic crises and armed conflicts in their homeland.</span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"><span> </span></span></p><p><b><i><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\">4. <span>Announcement of Caribbean programs on <span>tax residency</span><span> </span> registration </span></span></i></b></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> <span>Many of the Caribbean countries with the citizenship by investment programs are considering the idea of launching schemes for registration (tax) residency through investments, in order to use their considerable tax advantages to attract the Hinwits (HNWI).</span><br /></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> <span>Recall that the government of St. Kitts and Nevis made a statement last summer.</span> <span>But at the moment they have published very little information on this issue.</span><span> </span><span>High-ranking officials from Dominica also made announcements in a similar vein, but in their case, no information on the actual introduction of relevant amendments to fiscal legislation has also been published.</span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> <span>Only the Saint Lucia government made an abstract announcement about the prospect of launching a scheme to provide non-dom tax status to wealthy foreign investors in the foreseeable future.</span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"><span> <span>According to experts, the authorities of the three above-mentioned countries should bear in mind that competition with the British overseas territories in the region will be difficult in this respect.</span></span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> </span></p><p><b><i><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\">5. <span>Cayman Islands increase the \"cost\" of the <span>permanent residence</span> certificate</span></span></i></b></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> <span>As soon as it came to the British Overseas Territories with interesting schemes for registration of tax residency, it should be noted that the Cayman Islands increased the threshold of entry within the framework of our program.</span><span> </span><span>The minimum investment requirements for obtaining residency in the purchase of real estate increased from $ 1.6 to $ 2 million.</span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"><span> <span id=\"result_box\" lang=\"en\"><span>This program is one of several schemes for registration of residency offered by the Cayman Islands.</span> <span tabindex=\"-1\">And with its help, if certain conditions are met, you can get a new passport and alternative citizenship by naturalization.</span></span><br /></span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> </span></p><p><b><i><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\">6. <span>The program for New Zealand immigrant investors gets a \"facelift\"</span></span></i></b></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> <span>Terms of registration of New Zealand investor visas under the New Zealand Immigrant Investor Program (Tier 1 and Tier 2) have undergone a change.</span><span> </span><span>At present, participants in these schemes are offered a permanent residence instead of a temporary residence.</span><span> </span><span>But at the same time, the minimum amount of investment has increased to 3 million New Zealand dollars for the Tier 2 Investor investment visa, while the minimum investment in the case of the investor visa Tier 1 Investor now is NZ 10 million.</span></span><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"><span> <span>The New Zealand authorities have also amended legislation that prohibits foreigners without a New Zealand residence to buy property in that country.</span><span> </span><span>This is supposedly necessary to slow the escalation in house prices due to the growing demand from wealthy investors from abroad, making New Zealand real estate more accessible to local residents.</span><br /></span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> </span></p><p><b><i><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\">7. <span>Preparation of the Kazakhstan program of investment residency</span></span></i></b></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> <span>A number of events helped Kazakhstan to attract the attention of a growing number of immigrants, investors and financiers.</span><span> </span><span>Recently, the International Financial Center \"Astana\" (Astana International Financial Center, AIFC) was opened in the country.</span><span> </span><span>The launch of the AIFC, along with tax holidays and legislative optimization, is expected to lead to the fact that more and more enterprises and Hainites (HNWI) will choose this state to design their residency.</span><br /></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"><span> <span id=\"result_box\" lang=\"en\"><span>The administration of AIFC appealed to the firms on presentation of services in the field of registration of residency and citizenship with a request to forward proposals for the creation of a Kazakhstan residence registration program for investments.</span> <span>It is expected that the corresponding program will be launched next year.</span></span><br /></span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> </span></p><p><b><i><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\">8. <span>New start-up visas for Portugal, Japan, Cyprus and not only</span></span></i></b></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> <span>Following the worldwide trend, more countries wishing to attract innovative start-ups are opening programs for issuing start-up visas for foreigners.</span><span> </span><span>Although there are exceptions.</span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"><span> <span>Portugal and Austria, following Italy, France and other countries, have developed their own programs for the provision of start-up visas.</span><span> </span><span>The conditions for obtaining the latter vary from country to country.</span><br /></span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"><span><span> <span>For example, in the framework of the Portuguese scheme, the applicant must be approved by one of the authorized start-up incubators.</span><span> </span><span>As with many other start-up visa programs, there is no minimum investment requirement under the scheme launched in Portugal.</span><br /></span></span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> </span></p><p><b><i><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\">9. <span>France suspends the program for the provision of investment visas CEE</span></span></i></b></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> <span>The French authorities in 2009 created a special program for the granting of residency to individual investors for the \"Contribution Economic Pricing (CEE).\"</span><span> </span><span>The European state offered a long-term residence to all those who invest 10 million euros in the economy of France.</span><br /></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"><span> <span id=\"result_box\" lang=\"en\"><span>The program, most likely, was created taking into account the interest of immigrant investors from Qatar and was never intended to attract wealthy immigrants from other states.</span> <span>This year the program was suspended.</span> <span>This is probably due to low demand and the creation of Innovator and Investor programs in 2016.</span> <span>In the same year, the French launched an interesting scheme for <span>tax residency</span> registration.</span></span></span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"><span><span lang=\"en\"><span> </span></span></span></span></p><p><b><i><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\">10. <span>The process of applications from applicants for Australian residency is getting out of control</span></span></i></b></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> <span id=\"result_box\" lang=\"en\"><span>The Australian authorities amended their country\'s legislation on citizenship by tightening requirements for knowledge of the English language and allowing naturalization only after holding the permanent residence of that country for a four-year period.</span> <span>The average processing time for applying for citizenship in Australia has increased from 3 months in the last year to 13 months this year.</span></span><br /></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"> </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"><span>In case of an investor visa program, the average processing time for an application is 9 months (up to 15 months).</span><span> </span><span>As a result, many investors began to look for alternative options.</span></span></p>','posts/case.jpg','citizenship-by-investments10-events-that-altered-the-market',NULL,NULL,'PUBLISHED',0,'2018-05-15 20:39:00','2021-11-25 16:56:51',105),(71,1,2,'Is 4% yield next?',NULL,' The US 10-year yield is at 3.12%, its highest level since September 2011. The next critical juncture is the upcoming Fed meeting next month. Assuming 10-year yields maintains its upward climb this year, it could reach 3.29% by the Fed meeting in June.','<p> The US 10-year yield is at 3.12%, its highest level since September 2011. The next critical juncture is the upcoming Fed meeting next month. Assuming 10-year yields maintains its upward climb this year, it could reach 3.29% by the Fed meeting in June.</p><p></p><p> Should the Fed signal more rate hikes, the US 10-year yield could even hit the 4% level this year.</p><p></p><p> </p><p></p><p><b><span style=\"text-decoration: underline;\">Prepare for 4% yield</span></b></p><p></p><p> In a recent speech early this month, JP Morgan CEO Jamie Dimon stated that investors should be prepared for benchmark yields to climb to 4%. The US Fed could be prompted to raise interest rates faster than anticipated should US growth and inflation move fast enough.</p><p></p><p> </p><p></p><p><b><span style=\"text-decoration: underline;\">June Fed meeting</span></b></p><p></p><p>The US Fed Fund Futures are pricing in a 100% probability of a rate hike at the coming June Fed meeting, with the rate at 1.75% - 2.00%. Thus, we expect the US rates to continue its upward climb as we approach the Fed meeting in June.  </p><p></p><p> </p><p></p><p><b><span style=\"text-decoration: underline;\">Yield could hit 3.29% by the Fed meeting in June</span></b></p><p></p><p>Since the start of the year, the 10-year yield is rising at 0.713 bps per day. Assuming this rate of increase, the 10-year yield could reach 3.29% by June Fed meeting (26 days away).</p><p></p><p> </p><p></p><p>At 3.29% level, this will exceed the 2011 July high of 3.221%. We highlight the other key levels above this level:</p><p></p><p>i) 3.766% - 2011 high</p><p></p><p>ii) 4.0095% - 2010 high</p><p></p><p>iii) 4.2744% - 2008 high</p><p></p><p> </p><p></p><p>The 4% yield is the next Maginot line to watch. A hawkish Fed meeting in June could pave the way for yields to reach 4% this year.</p><p></p><p> </p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"><b>Edmund Chan, CFA</b></span></p>','posts/edmundch.jpg','is-4-yield-next',NULL,NULL,'PUBLISHED',0,'2018-05-18 12:08:00','2021-11-25 16:56:49',70),(72,1,2,'Lessons from past trade wars',NULL,'The trade war between the US and China has escalated with tic-for-tac moves. We highlight the recent trade moves from both countries and discuss lessons from past trade wars.','<p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The trade war between the US and China has escalated with tic-for-tac moves. We highlight the recent trade moves from both countries and discuss lessons from past trade wars.</span><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"></span></p><p><b><span style=\"text-decoration: underline;\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">1. Tic-for-tac trade measures</span></span></b></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The trade war between the US and China is showing signs of deepening. Both sides are imposing trade tariffs on each other in tic-for-tac moves. </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The first salvo was made by the US with taxes on steel and aluminium last month. </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Earlier this week, China imposed tariffs on 128 US imports amounting to US$3bn in response to the steel and aluminium taxes.</span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">This tariff move was retaliated by the US on Tuesday. 25% taxes are proposed on 1300 technology, transport and medical products in China. In the press release, it states that the list is in response to alleged unfair trade practices that resulted in technology transfers from US companies to Joint Ventures for entering into the Chinese market. There were also allegations by the US government on Chinese trade espionage practices. Consumer appliances such as refrigerator, washing machines and mobile phones are exempted from this list. This is to minimize the impact on US consumers. </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">China is not backing down from the latest US trade tariffs. Today, China has announced 25% tariffs on a new list of US goods. These taxes amount to US$50bn and are levied on 106 products ranging from soybeans, aircrafts, chemicals and aircrafts. </span></p><p><b><span style=\"text-decoration: underline;\">2. The 1930s Smoot-Hawley trade war </span></b></p><p><span style=\"font-family: Calibri;\" face=\"Calibri\"><span style=\"font-size: medium;\" size=\"3\">The first instance of trade war in the 20</span><sup><span style=\"font-size: small;\" size=\"2\">th</span></sup></span><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"> century occurred in 1930. Under the Smoot-Hawley Tariff Act, the US imposed import tariffs on more than 20,000 goods to protect US industries. US President Herbert Hoover imposed these tariffs to protect the US economy. However, it triggered adverse trade retaliations from other countries and resulted in a sharp decline in trade volumes. The import tariffs came several months after the 1929 stock market crash and further worsen the Great Depression in the country. </span></p><p><b><span style=\"text-decoration: underline;\">3. The 1980s Japan trade war </span></b></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">In the 1980s, there was a trade war between US and Japan. Japan was the rising economic powerhouse and the US President Ronald Reagan levied trade restrictions on industries such as steel and automobiles. This include voluntary restraints on car exports amounting to more than 60%. Large Japanese auto manufacturers such as Toyota and Honda were pressurized to set up manufacturing facilities in America. Despite the trade war, the economy continued to chug along and was less affected compared to the 1930s Smoot-Hawley trade war. </span></p><p><span style=\"font-family: Calibri;\" face=\"Calibri\"><span style=\"font-size: medium;\" size=\"3\">The current trade war is evolving to a game of chicken between both US and China (<a href=\"media/our-media-coverage/game-of-chicken/\"><span style=\"color: #1f4e79;\" color=\"#1f4e79\">https://castle-familyoffice.sg/media/our-media-coverage/game-of-chicken/</span></a>). There could be more posturing from both sides. The Presidents from both sides in Trump and Xi have strong personalities and are unlikely to back down so easily. Therefore, we do not expect resolution to be speedy. </span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">A mild trade war could be analogous to the 1980s Japan trade war where the economy continue to do well despite these trade barriers. There are also shades of similarity with China replacing Japan as the “trade nemesis of the US. </span></p><p><span style=\"font-size: medium;\" size=\"3\"><span style=\"font-family: Calibri;\" face=\"Calibri\">The other scenario is a full-blown trade war akin to the 1930s Smoot-Hawley trade war which resulted in a serious blow to the global economy. </span>OECD estimates that global GDP would dropped by 1-1.5% with a permanent 10% rise in trade costs. <span style=\"font-family: Calibri;\" face=\"Calibri\">The effects from a full-blown trade war could lead to market correction with a</span> break of S&amp;P 500 Index below 2550.</span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Trump initiated this trade war as he is looking to reduce the US trade deficit with large export countries. A full-blown trade war may not reduce the trade deficit. Instead, it could add deficit to US economic growth and to Trump’s popularity.</span><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"></span></p><p><strong><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Edmund Chan, CFA</span></strong></p>','posts/news/edmundch.jpg','lessons-from-past-trade-wars',NULL,NULL,'PUBLISHED',0,'2018-04-04 14:30:00','2022-10-27 23:56:39',61),(73,1,2,'Wintry Jobs Report',NULL,'The US reported March nonfarm payrolls increase of 103k, missing expectations of 185k. On average, the monthly payroll growth is 202k for 1Q 2018. Average hourly earnings (AHE) inched up 0.3% m-o-m, in-line with expectations. On a y-o-y basis, AHE rose to 2.7% in March, up from 2.6% in the previous month. ','<p>The US reported March nonfarm payrolls increase of 103k, missing expectations of 185k. On average, the monthly payroll growth is 202k for 1Q 2018. Average hourly earnings (AHE) inched up 0.3% m-o-m, in-line with expectations. On a y-o-y basis, AHE rose to 2.7% in March, up from 2.6% in the previous month. Unemployment rate declined slightly by 7 bps but remained unchanged at 4.1% on a rounded basis.</p><p><span style=\"text-decoration: underline;\">US Unemployment Rate (%)</span></p><p><span style=\"text-decoration: underline;\"><img src=\"assets/images/origal_images/графмк.png\" width=\"624\" height=\"449\" /></span></p><p><i>Source: Bloomberg</i></p><p><b><span style=\"text-decoration: underline;\">Weather impact</span></b></p><p>The swing factor was unexpectedly harsh winter conditions in March. The winter storms had a significant impact on weather-sensitive sectors such as retail, construction, leisure and hospitality. Construction employment fell by 15k after rising 65k in the previous month. Food and beverage services employment declined by 20k in March. On the other hand, sectors that are less sensitive to weather such as the manufacturing contributed strongly to payroll growth, with a gain of 22k.</p><p><b><span style=\"text-decoration: underline;\">Gradual wage growth</span></b></p><p>Wage growth signalled by AHE was in-line with expectations. The mining and financial activities sector led the wage gain with increase of 0.8% and 0.6% respectively. Productivity growth was flat in 1Q 2018, an improvement from the 0.8% q-o-q decline in 4Q 2017.</p><p>On balance, the weak jobs report is likely to be one-off due to the impact from harsh winter conditions. The gradual climb in wage growth is also welcome for the US Fed. It reduces the pressure for interest rates to be raised on a faster pace.</p><p><b>Edmund Chan, CFA</b></p>','posts/news/edmundch.jpg','wintry-jobs-report',NULL,NULL,'PUBLISHED',0,'2018-04-10 14:30:00','2021-11-25 16:57:27',59),(74,1,2,'Is currency war next?',NULL,'The next phase of the economic conflict between the US and China could be a currency war. It could come if China is labelled as a currency manipulator in the next US Treasury report. ','<p><span style=\"font-family: Calibri;\" face=\"Calibri\"><span style=\"font-size: medium;\" size=\"3\">The next phase of the economic conflict between the US and China could be a currency war. It could come if China is labelled as a currency manipulator in the next US Treasury report. </span></span></p><p><span style=\"font-family: Calibri;\" face=\"Calibri\"><span style=\"font-size: medium;\" size=\"3\"><b><span style=\"text-decoration: underline;\">1. China </span></b><b><span style=\"text-decoration: underline;\">as a</span></b><b><span style=\"text-decoration: underline;\"> currency manipulator</span></b><b><span style=\"text-decoration: underline;\"> </span></b></span></span><b><span style=\"text-decoration: underline;\"></span></b></p><p><span style=\"font-family: Calibri;\" face=\"Calibri\"><span style=\"font-size: medium;\" size=\"3\">China could be labelled as a currency manipulator as early as next week. The US Treasury report of “Foreign Exchange Policies of Major Trading Partners of the United States” is expected to be published in the middle of April. This report reviews the major currency policies of top trading partners of the US and could be used as a tool in the trade war between the US and China. </span></span></p><p><span style=\"font-family: Calibri;\" face=\"Calibri\"><span style=\"font-size: medium;\" size=\"3\">In the October 2017 report, the US Treasury avoided naming China as a currency manipulator. A reason could be the avoidance of strain relationship with China as Trump was slated to visit China in November. </span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Trump has also avoided tagging China as a currency manipulator as it requires China’s help in controlling the nuclear threat from North Korea. </span><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Today, the situation has reversed. The relationship between President Trump and North Korean leader Kim Jung Un are less tense and they could even be meeting in the near future. On the other hand, the bond between the US and China has deteriorated and they are engaged in a testy trade war. Therefore, Trump could use this opportunity to label China as a currency manipulator and further escalate trade war tensions.</span></p><p><b><span style=\"text-decoration: underline;\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">2. Criteria for currency manipulator label</span></span></b></p><p><span style=\"font-family: Calibri;\" face=\"Calibri\"><span style=\"font-size: medium;\" size=\"3\">A country has to fulfil three criteria for the label of currency manipulator. The criteria includes: (1) a significant bilateral trade surplus with the United States, (2) a material current account surplus, and (3) engaged in persistent one‐sided intervention in the foreign exchange market. </span></span></p><p><span style=\"font-family: Calibri;\" face=\"Calibri\"><span style=\"font-size: medium;\" size=\"3\">In the October 2017 Report, US Treasury classified China in the “monitoring list” despite only fulfilling one out of three criteria. A country is on the “monitoring list” only if it fulfils at least two of the critieria. The reason is that China accounts for a “large and disproportionate share” of the overall US trade deficit. For 2017, China accounts for US$375bn of trade deficit with the US, out of which are US$506bn imports and US$130bn exports. </span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The last time that China was labelled as a currency manipulator is during the period between 1992 and 1994. China was accused of weakening the Chinese Yuan and restricting the access for the US goods. The tag was removed at the end of 1994 after China took measures to reform its trade and currency policies. Therefore, any label on China could stretch for months and result in a large overhang on markets for a long time. </span></p><p><b><span style=\"text-decoration: underline;\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">3. Manipulation of report</span></span></b></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The offshore Chinese Yuan has strengthened by more than 9% for the past year. This weaken the case for China as a currency manipulator. However, this currency reality count for nothing in the ongoing trade war. Both sides want to hold the upper hand and protect their domestic markets. US President Trump could use the large trade deficit with China as a reason for the currency manipulator label. </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Ironically, the US Treasury report could be manipulated to label China as a currency manipulator. </span><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"></span></p><p><strong><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Edmund Chan, CFA</span></strong></p>','posts/news/edmundch.jpg','is-currency-war-next',NULL,NULL,'PUBLISHED',0,'2018-04-06 14:30:00','2021-11-25 16:57:29',72),(75,1,2,'Win-win bromance',NULL,'Three thoughts on the Boao Forum opening speech by China President Xi Jinping.','<p>Three thoughts on the Boao Forum opening speech by China President Xi Jinping.</p><p><b><span style=\"text-decoration: underline;\">“Win-win” speech</span></b></p><p>President Xi delivered a speech that appears conciliatory. He expressed the desire to achieve a “win-win” outcome and considered that dialogues are the way to resolve disputes. He also emphasized the need to avoid “Cold War mentality” of zero-sum game thinking.</p><p>In his speech, President Xi reiterated that China will open its door wider instead of closing it. China will further open up its domestic economy by introducing measures to open up the financial markets as well as strengthening the protection of intellectual property. President Xi also highlighted China will voluntarily increase imports by reducing import tariffs on automobiles and other products.</p><p><b><span style=\"text-decoration: underline;\">Bromance</span></b></p><p>The bromance friendship between President Xi and Trump is flourishing. Trump hailed the warm relationship between both of them and claimed that they will “always be friends.” He also responded positively by thanking President Xi’s “kind words” on trade. In line with Xi’s conciliatory tone, he emphasized the desire to “make great progress together’. This is a welcome relief after recent tic-for-tac rhetoric between both sides in the ongoing trade war.</p><p><b><span style=\"text-decoration: underline;\">Devil is in the details</span></b></p><p>The proposals in President Xi’s speech are not new. China had previously stated the need to open up its markets before the trade war started. It is just that the details have not been matched with action yet. Even White House Press Secretary has responded to Xi’s speech by calling for “concrete steps and action.”</p><p>Among the key reforms, financial and insurance market liberalisation reforms are the most anticipated ones, followed by other measures such as opening up of China auto, aircraft and ships sectors.</p><p>Equity markets enjoyed a rally after the softer tone from Xi’s speech. Now, we await the details before a more sustainable rally can unfold.</p><p><b>Edmund Chan, CFA</b></p>','posts/news/edmundch.jpg','win-win-bromance',NULL,NULL,'PUBLISHED',0,'2018-04-11 14:30:00','2021-11-25 16:57:25',71),(76,1,2,'Stinking Hong Kong Foot ',NULL,'The infamous Hong Kong Foot is a slang for smelly Athlete’s Foot. Similarly, a Hong Kong Foot-equivalent could happen where a rally in HKD creates a stench via an asset market correction. ','<p>The infamous Hong Kong Foot is a slang for smelly Athlete’s Foot. Similarly, a Hong Kong Foot-equivalent could happen where a rally in HKD creates a stench via an asset market correction.</p><p>An ongoing HKD carry trade has unfolded with the HKD weakening by 95 bps for the past two years. The HKD has briefly touched 7.85, near the weak band of the currency peg of 7.75 - 7.85. This could led to intervention from HKMA and negatively impact the asset markets. We discuss three thoughts on the weak HKD.</p><p><b><span style=\"text-decoration: underline;\">HKD carry trade</span></b></p><p>Flush liquidity has resulted in a HKD carry trade where investors borrow in HKD and invest in higher yielding USD. The 3m HIBOR is hovering at 1.18%. Despite the 40bps rise in 3m HIBOR, it has lag behind the almost 100 bps climb in 3m LIBOR. The unrelenting rise in 3m LIBOR has resulted in the spread between both of them to be more than 110 bps, near its decade-high. The wide spread has resulted in an attractive carry trade for HKD borrowers and pushed HKD to its decade low.</p><p><b><span style=\"text-decoration: underline;\">Debt binge</span></b></p><p>The Hong Kong market is flushed with liquidity from the flood of money from China. This is driven by the Shanghai-Hong Kong Stock Connect with significant investment flows from China to Hong Kong. Chinese companies have loaded up on HKD debt to fund outbound purchases, resulting in greater leverage and higher asset purchases. The abundance in liquidity pushed the funding costs in Hong Kong low and boosted housing and equity prices to record highs in Hong Kong.</p><p><b><span style=\"text-decoration: underline;\">Unwinding HKD carry trade could stink</span></b></p><p>The HKD has weakened by about 95 bps for the past<b> </b>two years. At the 7.85 end, the Hong Kong Monetary Authority (HKMA) is obligated to defend the peg by buying HKD since it is at the end of the 7.75 -7.85 peg. This means draining the liquidity and allowing 3m HIBOR to go higher. A spike in HIBOR will reduce the affordability in the housing market especially investors on HIBOR-linked mortgages. Further, tightening monetary conditions are negative for the Hong Kong equities market with the withdrawal of ultra-cheap money.</p><p>A spike in HKD could disrupt the Hong Kong asset markets and trigger a risk-off environment for other markets. Markets have been choppy of late in the light of rising trade tension between the US and China. A correction in the Hong Kong equities will worsen matters. The unwinding of HKD carry trade could really stink!</p><p><b>Edmund Chan, CFA</b></p>','posts/news/edmundch.jpg','stinking-hong-kong-foot',NULL,NULL,'PUBLISHED',0,'2018-04-12 14:30:00','2021-11-25 16:57:25',57),(77,1,2,' A minute closer to June rate hike',NULL,'The US Fed March meeting minutes unveiled a hawkish tone. It paves the way for a rate hike to occur in June. We discuss key thoughts on the Fed meeting minutes.','<p>The US Fed March meeting minutes unveiled a hawkish tone. It paves the way for a rate hike to occur in June. We discuss key thoughts on the Fed meeting minutes.</p><p><b><span style=\"text-decoration: underline;\">Boost from fiscal policy</span></b></p><p>The Fed meeting minutes anticipates the US economy to expand more rapidly in the medium term. Real GDP growth could “increase at a faster pace” through 2020, despite softness in first quarter this year. Labour market is expected to tighten further with unemployment rate possibly declining to 3.6%. The drivers of robust economic outlook are expansionary fiscal policy measures such as spending increases and tax cuts. The committee expects fiscal policy to “provide a significant boost to output over the next couple of years.”</p><p>For inflation, the committee expects it to pick up and could reach the 2% inflation target soon. Post Fed meeting suggests that inflation remain strong with headline CPI and core CPI in March up 2.4% and 2.1% respectively on an annualized basis. Core PCE in February climbed 1.6% in February and could reach 2.0% in March.</p><p><b><span style=\"text-decoration: underline;\">Keep calm and carry on</span></b></p><p>Despite recent market volatility, the minutes described financial conditions as supportive. The committee acknowledged that that equity prices have corrected in the light of “still-high valuations for equities”. As for the recent rise in LIBOR, they do not see its rise as a threat to economic growth. They believed that accommodative conditions will continue “to support further expansion of economic activity.”</p><p>On the other hand, there are concerns on the impact of a trade war to the US economy. Although the initial steel and aluminium tariffs are likely to be absorbed by the economy, further retaliatory trade actions from other countries could pose significant downside risks to the economy.</p><p><b><span style=\"text-decoration: underline;\">Steeper rate path</span></b></p><p>The US Fed expects more policy tightening with the dot plot indicating a more aggressive pace of rate hikes in 2019 and 2020. A number of participants sees the need for a “steeper rate path” with the Fed funds rate likely to exceed its longer-run rate.</p><p>In addition, the committee is considering changing the language of the Fed statement to state that the Fed “would likely gradually move from an accommodative stance to being a neutral or restraining factor for economic growth.” This is a significant shift from a dovish stance to more hawkish one.</p><p>The Fed is ready for more interest rate increases, with the next hike likely to occur in June. The hawkish meeting minutes has paved the way for that to happen.</p><p><b>Edmund Chan, CFA</b></p>','posts/news/edmundch.jpg','a-minute-closer-to-june-rate-hike',NULL,NULL,'PUBLISHED',0,'2018-04-13 14:30:00','2021-11-25 16:57:23',114),(78,1,2,'Hangover from Friday the 13th',NULL,'The world did not end last week on Friday the 13th. But the Syria missile launch on that day could be an ugly hangover for the coming weeks.','<p>The world did not end last week on Friday the 13th. But the Syria missile launch on that day could be an ugly hangover for the coming weeks.</p><p>Over the weekend, missile attacks were launched on Syria by the US, together with the UK and France. This is in response to the alleged chemical attacks by the Syrian government. Russia tried but failed to get the strikes declared by the UN Security Council as a violation of international law.</p><p>US President Trump hailed the attacks as “Mission Accomplished” but we cautioned against brushing aside the risk of escalation in this longstanding conflict. The US remained “locked and loaded” to attack again should there be additional use of chemical attacks. Also, Russia President has warned of “chaos in international relations.” There could be more posturing from both nuclear powerhouses. Unless all parties come to the negotiation table, there is room for the Syrian conflict to be escalated further.</p><p>In Asia, the HKD remained on the soft side, trading at the weak end of the 7.75 -7.85 currency peg. This has triggered the HKMA to defend the peg by mopping up HKD and tightening liquidity. In Japan, allegations of corruption in a property scandal has hit the popularity of Prime Minister Abe. Thousands of protestors attended a rally in Tokyo calling for his resignation. His unpopularity could affect his election for the LDP leadership in September.</p><p>The US kicked off the earnings seasons last week with big banks such as JP Morgan and Citigroup reporting healthy earnings beat. More big banks such as Bank of America, Goldman Sachs and Morgan Stanley are slated to report earnings this week. Besides the banks, we have other key benchmark companies releasing results this week and they include Johnson &amp; Johnson, United Health and IBM. In Asia, Taiwan Semiconductor Manufacturing, China Mobile and Tata Consultancy are expected to report their earnings results this week. Positive earnings results would provide support to the equities market.</p><p><strong>Monday – 16 April 2018</strong><br />Macro data: US Retail Sales Advance<br />Earnings: US and Europe – Bank of America</p><p><strong>Tuesday – 17 April 2018</strong><br />Macro data: China GDP, Retail Sales and Industrial Production; US Industrial Production<br />Earnings: US and Europe – Goldman Sachs, Johnson &amp; Johnson, United Health, Netflix</p><p><strong>Wednesday – 18 April 2018</strong><br />Macro data: China Property Prices<br />Earnings: US and Europe – Morgan Stanley, Abbott Laboratories, IBM, ASML Holdings</p><p><strong>Thursday – 19 April 2018</strong><br />Macro data: US Fed Beige Book<br />Earnings: <br />US and Europe – BNY Mellon, Blackstone, American Express, Novartis AG<br />Asia – Taiwan Semiconductor Manufacturing, Tata Consultancy, KB Financial, LG Chem</p><p><strong>Friday – 20 April 2018</strong><br />Earnings: <br />US and Europe – Proctor &amp; Gamble, General Electric, Honeywell, Schlumberger<br />Asia – China Mobile, China Unicom</p><p><strong>Edmund Chan, CFA</strong></p>','posts/news/edmundch.jpg','hangover-from-friday-the-13th',NULL,NULL,'PUBLISHED',0,'2018-04-17 14:30:00','2021-11-25 16:57:23',65),(79,1,2,'Liquidity boost',NULL,'People’s Bank of China (PBOC) announced a 100bp cut for the reserve requirement ratio (RRR) from 25 April. ','<p>People’s Bank of China (PBOC) announced a 100bp cut for the reserve requirement ratio (RRR) from 25 April.</p><p><b><span style=\"text-decoration: underline;\">Reduction in financial burden</span></b></p><p>Starting from 25 April, the RRR will be reduced by 1% for commercial banks and foreign banks. At the same time, these banks have to repay the funds from the Medium-term Lending Facility (MLF). The net effect will be additional liquidity of RMB 400bn as the return of funds under MLF is smaller than the release of deposits from the RRR cut. The RRR will still be favourable for small lenders compared to large financial institutions with rates at 14% and 16% respectively.</p><p><b><span style=\"text-decoration: underline;\">Interest rate liberalisation</span></b></p><p>PBOC is embarking on steps towards interest rate liberalisation reform by encouraging market forces to determine the cost of credit. This will allow a more efficient allocation of capital in China.</p><p>The deposit rate guidelines was recently relaxed with the removal of the implicit cap on Certificates of Deposit (CD) interest rates. This enable banks to price CDs at a higher interest rate, above the general 50% premium over the benchmark rates in China.</p><p>Lowering the RRR is in line with the interest rate liberalisation. Currently, the interest rate markets are not efficiently priced with deposit rates lagging significantly behind the interbank rates. Deposit rates ranges from 1.10 - 2.65% compared to the higher interbank rates of 3 – 4%. By lowering the RRR, it improves the transmission mechanism of interest rate by encouraging banks to reprice deposit rates higher. </p><p><b><span style=\"text-decoration: underline;\">Supportive for SMEs</span></b></p><p>For the Chinese banks, a lower RRR is a cheaper funding source compared to MLF. The interest rate for RRR is at 1.62%, much lower than the 3.3% for 1-year MLF. Also, the liquidity released from a lower RRR is seen as a more permanent funding source compared to the periodic nature of MLF. This could help the banks to have higher NIMs from a lower cost of funds.</p><p>By reducing RRR, China is taking measures to provide liquidity support by boosting lending. The RRR cut will enable the banks to provide more support to the real economy should credit conditions worsen from ongoing trade war between the US and China.</p><p><b>Edmund Chan, CFA</b></p>','posts/news/edmundch.jpg','liquidity-boost',NULL,NULL,'PUBLISHED',0,'2018-04-20 14:30:00','2021-11-25 16:57:21',78),(80,1,2,'Earnings bonanza week ',NULL,'US dollar had a notable rise towards the end of last week, aided by the climb in US 10-year treasury yields to 2.96%, a fresh three year high. The Euro also weakened after ECB President Draghi expressed concerns that the growth cycle in the Eurozone area could have peaked. ','<p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">US dollar had a notable rise towards the end of last week, aided by the climb in US 10-year treasury yields to 2.96%, a fresh three year high. The Euro also weakened after ECB President Draghi expressed concerns that the growth cycle in the Eurozone area could have peaked. </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">In Asia, the HKMA has defended the USD-HKD peg via the buying of HKD. Liquidity has tightened and resulted in the climb of 3M HIBOR to a 3-year high of 1.36%. Further intervention could be negative for the </span><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Hong Kong equities and property market with the withdrawal of ultra-cheap money. </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">On the other hand, China is providing liquidity boost by cutting the RRR by 100 bps for the Chinese banks. Outflow restrictions could also be eased with a possible increase of quota under the QDLP and QDIE programs. This is a signal that the Chinese authorities are confident of the RMB and working towards the long-term aim of RMB internationalisation. </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The geopolitical environment has improved with North Korea announcing that it will halt nuclear tests and close its test site. This sets the stage of a potential meeting between US President Trump and North Korea Leader Kim in the coming months. While it is a marked improvement from previous tough rhetoric, President Trump has warned that the nuclear crisis is far from being resolved. </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">This week will see a deluge of earnings release in Asia. These include Chinese banks, Chinese insurers as well as Chinese oil majors. Large Korea companies such as Samsung Electronics and SK Hynix are reporting results this week. Also, a number of Japan tech companies such as NTT Docomo, Canon and Nidec will be making earnings announcement. In the US and Europe, large tech and oil companies such as Microsoft, Facebook, Amazon, Google, Intel, Exxon Mobil, Chevron and Shell will be releasing their earnings.  </span></p><p><span style=\"text-decoration: underline;\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Monday – 23 April </span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Macro data: Manufacturing PMI for Japan, Eurozone and US </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Earnings: </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">US and Europe – Google, UBS and Haliburton</span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Asia – HDFC Bank and Chalco</span></p><p><span style=\"text-decoration: underline;\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Tuesday – 24 April </span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Macro data: Australia CPI</span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Earnings: </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">US and Europe – Coca Cola, 3M, Texas Instruments and Caterpillar</span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Asia – SK Hynix, Reliance Industries and NIDEC</span></p><p><span style=\"text-decoration: underline;\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Wednesday – 25 April </span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Earnings: </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">US and Europe – Facebook, Visa, AT&amp;T</span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Asia – Canon and China Vanke</span></p><p><span style=\"text-decoration: underline;\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Thursday – 26 April </span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Macro data: South Korea GDP, ECB Deposit Facility Rate</span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Earnings: </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">US and Europe – Amazon, Microsoft, Intel, Shell, Total</span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Asia – Samsung Electronics, China Construction Bank, Ping An Insurance, China Life, Sinopec, CNOOC, Baidu</span></p><p><span style=\"text-decoration: underline;\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Friday – 27 April </span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Macro data: Japan Industrial Production, GDP for France, UK and US, US core PCE</span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Earnings: </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">US and Europe – Exxon, Chevron and Airbus</span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Asia – ICBC, Agricultural Bank of China, Bank of China, China Merchant Bank, BOC HK, Bank Central Asia,  Petrochina, NTT Docomo</span></p><p><b><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Edmund Chan, CFA</span></b></p>','posts/news/edmundch.jpg','earnings-bonanza-week',NULL,NULL,'PUBLISHED',0,'2018-04-23 14:30:00','2021-11-25 16:57:19',76),(81,1,2,'Are we there yet? The Maginot Line of 3%',NULL,'Maginot Line of 3%The Maginot Line is associated with the line of heavy fortifications to protect France in the 1930s.  In the treasury market, 3% level is recognised as the Maginot line for the US 10-year yield, where strong resistance lies. ','<p>The US 10-year treasury yield hit an intraday high of 2.9957%. This is just shy of the psychological barrier of 3%.</p><p> </p><p><b><span style=\"text-decoration: underline;\">Maginot Line of 3%</span></b><b><span style=\"text-decoration: underline;\"></span></b></p><p>The Maginot Line is associated with the line of heavy fortifications to protect France in the 1930s.  In the treasury market, 3% level is recognised as the Maginot line for the US 10-year yield, where strong resistance lies.</p><p></p><p>A break of the 3% level will put the 10-year yields on a firm footing to climb higher. Above 3%, the key levels to watch are as follows:</p><p>i) 3.052% - 2014 high</p><p>ii) 3.221% - 2011 July high</p><p>iii) 3.766% - 2011 high</p><p> </p><p><b><span style=\"text-decoration: underline;\">The most hawkish of them all</span></b></p><p>Among the leading central banks, the US Fed is the most hawkish. This could provide impetus for the US bond yields to go higher. As highlighted in previous discussion, the US Fed March meeting minutes unveiled a hawkish bias and could hike interest rate in June ( A minute closer to June rate hike: <a href=\"media/our-media-coverage/a-minute-closer-to-june-rate-hike/\">https://castle-familyoffice.sg/media/our-media-coverage/a-minute-closer-to-june-rate-hike/</a> ). On the other hand, the rhetoric from ECB is dovish with President Draghi acknowledging the slowdown in the Eurozone area. In Japan, BOJ recognised that inflation is far from the 2% target and would continue its monetary stimulus until it achieves the goal.</p><p><strong> <span style=\"text-decoration: underline;\">Impact on the stock market</span></strong></p><p>The climb of bond yields could add pressure on the stock market. Prior to 2018, the market regime is in a Goldilocks phase with solid economic growth and tepid inflation. The S&amp;P 500 index delivered return that is closed to 22% in a tranquil 2017. Bond market behaved calmly with yields trading in a tight range between 2.01 and 2.63%.</p><p> </p><p>This year, volatility has picked up as market adjust to a new phase from <b>Goldilocks</b> to a <b>Reflation</b> regime. Economic growth remains strong but inflation has also picked up. The uptick in inflation has resulted in bond yields to climb higher. A slow rise in interest rate is easily absorbed by the stock market whereby S&amp;P 500 Index consolidates within a range between a 2560 to 2790. However, a steeper-than-expected rise in interest rate above 3.1% could lead to a market correction with S&amp;P 500 Index breaking below 2550.</p><p> </p><p><b>Edmund Chan, CFA</b></p>','posts/news/edmundch.jpg','are-we-there-yet-the-maginot-line-of-3',NULL,NULL,'PUBLISHED',0,'2018-04-24 12:45:00','2021-11-25 16:57:18',80),(82,1,2,'Mmm…not so pretty',NULL,'3M Co, with “MMM” as Bloomberg ticker, slumped more than 6% yesterday after cutting its earnings guidance for the year. Tepid guidance for 2018For 1Q 2018 results, 3M announced a slow start with EBIT at US1,904m, missing expectations of $2,010m. EPS was at $2.50, just in-line with consensus estimates.','<p>3M Co, with “MMM” as Bloomberg ticker, slumped more than 6% yesterday after cutting its earnings guidance for the year.</p><p> </p><p><b><span style=\"text-decoration: underline;\">Tepid guidance for 2018</span></b></p><p>For 1Q 2018 results, 3M announced a slow start with EBIT at US1,904m, missing expectations of $2,010m. EPS was at $2.50, just in-line with consensus estimates.</p><p> </p><p>The major disappointment was the cut to the top-end of both its 2018 earnings and revenue growth outlook to $10.55 and 4% respectively. Prior guidance were $10.70 and 5% for earnings and revenue growth. After the adjustment, the 2018 EPS and revenue growth guidance is expected to be at $10.2 - $10.55 and 3 – 4% respectively.</p><p> </p><p>The company attributed its soft earnings outlook due to weaker demand for automotive and oral care products. In addition, inflation costs from higher raw materials and oil prices are expected to hurt gross margins.</p><p> </p><p><b><span style=\"text-decoration: underline;\">Impact from Trade war</span></b></p><p>3M is a mega-cap company with a solid franchise in a broad portfolio of products such as Post-it notes and food safety products. The company is widely admired for its ability to harness technology to achieve high margins. However, it faces an upcoming threat from a potential trade war between US and China. More than 30% of its sales is from developing markets, with China comprising 10% of the company’s revenue. Further, the bulk of its Electronics &amp; Energy business is from Asia and this is closely linked to Asian economic growth. Therefore, a full-blown trade war could be disruptive to 3M’s growth outlook.</p><p> </p><p><b><span style=\"text-decoration: underline;\">Difficult handover</span></b></p><p>Current CEO, Inge Thulin, will be replaced by Michael Roman in July. Roman is a 3M veteran, having served as COO in the company.</p><p> </p><p>The reduced sales guidance could dent investor’s confidence in Roman. This is after he has affirmed the 3-5% sales growth as recent as a month ago. Going into the earnings announcement, there were high expectations for the company. Instead, Roman fronted the announcement of bad news in the form of weaker guidance. While the guidance cut is small, a bad perception could be set of Roman as one who overpromise and under deliver.</p><p> </p><p>The slump in 3M’s share price has been sharp. Definitely, more reflection for the new CEO to go Mmm…</p><p> </p><p><b>Edmund Chan, CFA</b></p>','posts/edmundch.jpg','mmm…not-so-pretty',NULL,NULL,'PUBLISHED',0,'2018-04-25 12:45:00','2021-11-25 16:57:17',123),(83,1,2,'Why is Singapore a midshore-onshore area in terms of the tax system?',NULL,'Unfortunately, the companies established in the territory of classical offshore jurisdictions today have a very low level of trust. Therefore, to conduct business, a country needs not only low tax rates, but also high prestige. We recommend that you pay attention to an offshore zone such as Singapore, which can be called a tax haven thanks to a flexible tax system.','<p>  When we hear \"offshore zone\", we have an association - \"tax paradise\". Unfortunately, the companies established in the territory of classical offshore jurisdictions today have a very low level of trust. Therefore, to conduct business, a country needs not only low tax rates, but also high prestige. We recommend that you pay attention to an offshore zone such as Singapore, which can be called a tax haven thanks to a <em>flexible tax system</em>.</p><p> </p><p><span style=\"text-decoration: underline;\"><strong>Singapore - midshore zone with some offshore\'s advantages</strong></span></p><p> The popularity of Singapore among the entrepreneurs of the world is determined not only by the flexible tax system, which we will talk about below, but also with high prestige.</p><p> So, there is practically no bureaucracy in Singapore. This is the main difference between Singapore and many other countries, including CIS. This became possible due to the developed system of e-government. Even the registration of the company here is done remotely by means of a special service provided that SignPass is available. If you do not have one, you can apply to the services of the registrar, in particular, to specialists of Offshore Pro Group.</p><p> There ara low crime rate and high standard of living in Singapore, which makes the country an ideal place to move and create their own business.</p><p> It is worth pointing to a high index of the rule of law and protection of intellectual property. In Singapore, in comparison with other countries in the world, the court examines cases as soon as possible. Thanks to a transparent and rigid legislative system, investors, business owners and locals can count on an honest resolution of the dispute.</p><p> Singapore\'s strategic location makes it attractive for international investment and the creation of a company that will operate in the emerging market of Asia. Moreover, the jurisdiction is in the TOP-3 of the best countries for business for a long period.</p><p> The developed infrastructure (for example, the fastest Internet in the country and the highest coverage in comparison with other countries) is ideally suited for starting a business in the areas like IT technology, e-commerce and others.</p><p> The high level of education of the local population allows not to worry about the possibility of a problem finding staff. Especially, the government is implementing a program of retraining and improvement of knowledge and experience of experts in accordance with the latest trends in the labor market.</p><p> </p><p><span style=\"text-decoration: underline;\"><strong>Singapore - a midshore zone with a flexible tax system</strong></span></p><p> First of all, it is worth noting the quasi-territorial principle of taxation, which implies the payment of taxes only from the income received in Singapore. Also in the jurisdiction there is a single-level tax collection system. This means that the company\'s dividends received by shareholders are not subject to taxation.</p><p> Yes, Singapore has a corporate tax of 17%. However, the government has developed many tax incentives and incentives to reduce the tax rate to zero.</p><p> For example, there is a scheme for supporting young companies - start-ups. It provides for full exemption from taxation of the first 100 thousand SGD of annual income, 50% exemption of the next 200 thousand SGD, and all that over 300 thousand SGD is taxed at the full 17% rate.</p><p> In 2018, there is also a tax discount of 50%, but not exceeding 20 thousand SGD.</p><p> There are many benefits and incentives for companies established in various areas of the country\'s economy, especially in the field of robotics and R &amp; D. In particular, the PIC scheme, which implies full exemption of companies from taxation, provided that their profit for the year is 28 million SGD. Also, international trade companies have the right to tax incentives. They are granted preferential tax rates of 5-10% for a period of 5-10 years, subject to compliance with the provisions of the Global Tradere scheme. Qualified offshore funds do not pay taxes on dividends, income and interest on traditional types of investments (from shares, securities, bonds, deposits, etc.).</p><p> It is worth noting the flexible system of taxation of individual income. Tax rate varies depending on the amount of individual income from 0% to 20% (for an amount over 320 thousand SGD).</p><p> In Singapore, there is no capital gains tax, inheritance and luxury tax.</p><p> There is no additional value tax in the jurisdiction, but there is a tax on goods and services that apply to goods and services supplied or imported to the territory of the state. The amount of tax is 7%. It is not levied from the supplier company, but from the final buyer. The tax on goods and services does not include exported goods, international and financial services, sales and leasing of residential real estate.</p><p></p><p>It is worth noting also the tax at the source, the amount of which depends on the type of payment of non-residents of the country:</p><ul><li>Percentages, commissions and other types of payments on arrears - the tax rate is 15%.</li><li>Royalties and other payments for the use of real estate - 10%.</li><li>Management of economic activity and provision of services - 17%.</li><li>Rent, transferred to the account of a non-resident company - 15%.</li></ul><p> However, dividend received by a resident company from a foreign source, profits from branches in other countries and provision of services in the territory of other states are exempt from taxation.</p><p> The withholding tax for individuals who are non-residents is 15%.</p><p> </p><p> Summarizing, we are quite sure to declare that Singapore is a midshore zone through a flexible tax system with tax incentives and incentives.</p><p></p><p style=\"text-align: center;\"><em><span lang=\"EN-US\"><span face=\"Calibri\" size=\"3\"><strong>CASTLE FAMILY OFFICE</strong> experts are certified specialists in various fields. You can get professional advice on the Singapore tax system by writing to us via email <strong><a href=\"mailto:info@castle-familyoffice.sg\">info@castle-familyoffice.sg</a></strong></span></span></em></p><p></p>','posts/singapore.jpg','singapore-midshore-onshore-zone',NULL,NULL,'PUBLISHED',0,'2018-05-18 02:30:00','2021-11-25 16:56:49',83),(84,1,2,'Singapore and Hong Kong are intended to involve more assets',NULL,'According to the new The Boston Consulting Group (BCG) report, assets of Singapore and Hong Kong will increase rapidly by 2021. The Asia-Pacific region is developing faster than all again.','<p>   According to the new The Boston Consulting Group (BCG) report, assets of Singapore and Hong Kong will increase rapidly by 2021. The Asia-Pacific region is developing faster than all again.</p><p>   The Boston Consulting Group report showed that in 2016, world private financial wealth increased by 5.3 percent (in 2015 - by 4.4 percent), amounting to 166.5 trillion US dollars, and primarily this growth occurred against the backdrop of acceleration economic growth and good results obtained in equity markets around the world. Growth was noted in all regions, but the Asia-Pacific proved to be the fastest growing - the volume of private capital in this region increased by 9.5 percent to 38.4 trillion dollars, almost catching up with Western Europe. In Western Europe, growth was small (3.2 percent) due to the situation around the UK exit from the European Union (Brexit). According to the BCG report, by the end of 2017 private wealth in the Asia-Pacific region should increase by more than 10 percent and reach 42.3 trillion dollars. In Western Europe, a very small increase is expected - up to 41.9 trillion US dollars. According to analysts, it is expected that by 2019 the Asia-Pacific region (together with Japan) will bypass the size of private wealth throughout North America.</p><p>   Studies by BCG experts show that in 2016 offshore wealth grew more slowly (3.7 percent) than onshore wealth (5.4 percent). Switzerland, which owns a 24 percent stake, has remained the largest offshore center, but it is expected that this share will decline until 2021. The fastest growing offshore centers in the world today are Singapore and Hong Kong. They have such status because of their reputation preferred accommodation centers for clients in the region, as well as due to expectations of strong growth in the Asia-Pacific region.</p><p>   Singapore\'s reputation as a safe and stable center will bring the money of Southeast Asia. According to the BCG report, the private wealth ratio here will increase by 8 percent until 2021. In Hong Kong, this figure will increase by 7 percent, and in Switzerland - only 3 percent.</p><p>    At the moment, Switzerland remains the world leader in the field of capital management with assets of 2.4 trillion dollars, which is twice as much as in Singapore. For decades, centers such as Switzerland and Singapore have benefited from political and economic instability elsewhere, prompting wealthy people to transfer their money abroad. The largest Asian centers attract customers from the region, which become richer in tandem with the growth of the economies of these states. \"In the eyes of customers, Singapore is independent and secure. His government is very supportive of the capital management industry\", - said Mariam Jafar, partner of the consulting group and co-author of the report.</p><p>   It is projected that in the long term expansion will continue, but in the short term it may to some extent slow down the restrictions imposed by China on the outflow of investment.</p><p>    \"Offshore centers are out of risk, - says Anna Zakrzewski, BCG partner and co-author of the report - In the situation of political instability in most parts of the world and a tangible uncertainty in the markets, offshore companies have the place to be and will be safe harbors offering a variety of services in the field of private capital management\".</p><p>   Also in the BCG study highlights that in subsequent years the wealth of the wealthiest people in the world will grow faster than all other groups. People with conditions over $ 100 million in the period from 2016 to 2021 can count on a 9.1 percent increase in wealth annually, and those whose fortune ranges from 20 to 100 million US dollars can expect 10.2 percent growth. But those whose wealth is less than $ 1 million, growth will be much more modest - only 3.7 percent.</p><p>   In 2016, investors from the Asia-Pacific region were the largest source of offshore wealth - $ 2.9 trillion. In Western Europe, this figure last year was slightly lower - $ 2.6 trillion.</p><p>   It is expected that by the end of 2021 the growth of world private wealth will be 6 percent (compared with 5.3 last year). At that time, as growth in Japan and North America will depend on the effectiveness of existing assets, in the territory of the Asia-Pacific region will increase capital through new savings. And in Western Europe, wealth will grow in equal measure both at the expense of the efficiency of existing assets and at the expense of new ones.</p><p>   As for Russia, it is expected that the volume of private capital in this country by 2021 will grow for 26.6 percent compared to 2016 and thus amount to 1.9 trillion US dollars, while the fastest growth will show savings on deposits and cash. The authors of BCG predict that by 2021 the volume of deposits and cash will grow for 22 percent to $ 1.1 trillion (0.9 trillion in 2016). And the amount of capital that is placed in the shares will remain the same - $ 300 billion. Investments in bonds will increase by 100 billion dollars and will total 400 billion.</p><p>   Annual private equity growth will slow down: if from 2011 to 2015 it grew annually by about 13.7 per cent, from 2016 to 2021 years, the rate will drop to 4.9 per cent each year.</p><p>   According to Max Hauser, partner and managing director of BCG, \"despite the expected slowdown in the growth of private wealth in Russia to 5 percent a year, the State remains its main source in Eastern Europe. The young Russian market of private capital management has chances of growth, especially its onshore part. the one who will be able to create a convenient platform for making and implementing investment decisions will benefit and will provide an opportunity to diversify assets in terms of geography and risk. </p><p style=\"text-align: center;\"><em>To receive professional advice regarding the placement of assets in Asia, you can get with our specialists of CASTLE FAMILY OFFICE by writing to us at  <span lang=\"EN-US\"><span face=\"Calibri\" size=\"3\"><strong><a href=\"mailto:info@castle-familyoffice.sg\">info@castle-familyoffice.sg</a></strong></span></span></em></p>','posts/HK-Singapore-Compare.jpg','singapore-and-hong-kong-are-intended-to-involve-more-assets',NULL,NULL,'PUBLISHED',0,'2018-05-18 17:48:00','2021-11-25 17:00:15',156),(85,1,2,'Singapore has published Avoidance of Double Taxation Agreements (DTAs)',NULL,'   The purpose of DTA is to familiarize all taxpayers with the interpretation and application of Singapore tax treaties, and also to clarify the mutually agreeing procedure in more detail.','<p>   The purpose of DTA is to familiarize all taxpayers with the interpretation and application of Singapore tax treaties, and also to clarify the mutually agreeing procedure in more detail.</p><p>   The manual states that the tax rules in most cases are different in each jurisdiction. Some aspects of taxation are universal and similar in different tax systems, while others have significant differences. For example, the difference is observed in the definitions of income, tax residency, tax base, as well as in tax rates and in the rules of taxation of non-residents. In addition, in the document the tax service of Singapore explained how double taxation can arise and what it leads to in economic and legal terms, as well as what functions are performed by tax treaties.</p><p>   Particular attention is paid to the Multilateral Convention on the implementation of measures in relation to tax treaties in order to counteract the dilution of the tax base and the movement of profits from taxation (BEPS), to which Singapore joined in June 2017. It is noted that not all Singapore tax treaties will be changed under the Multilateral Convention, since not all Singapore tax treaty partners plan to accede to the Multilateral Convention of BEPS, and not all those who have already joined it share the same approach to its implementation, as well as Singapore.</p><p>For those treaties that will nevertheless be modified under the Multilateral Convention, the main amendments will be the following:</p><ul><li>the inclusion of the preamble that the tax treaty is designed to eliminate double taxation but is not intended to create opportunities for non-taxation or tax reduction by way of avoiding or avoiding taxation;</li><li>inclusion of the \"main objectives\", in accordance with which the benefits provided for by the tax treaty will not be granted in cases where the main or one of the main objectives of any transaction is to receive tax benefits under the contract;</li><li>inclusion of certain provisions of the treaty, which allows taxpayers to request the holding of the mutual agreement procedure, if the competent authorities have not reached a consensus on a certain date.</li></ul><p>  Further, the guide explains the main provisions of tax treaties and emphasizes that, in addition to guidance, taxpayers should always directly address the text of the tax treaty, the provisions of which they plan to use. In addition, the guide explains in detail the mutually agreed procedure that is carried out when the tax authorities of two or more countries hold different positions regarding the application of the provisions of the tax treaty, which can cause double taxation.</p><p> </p><p class=\"justifyleft\">   Full text of DTA can be found <span lang=\"EN-US\"><span face=\"Calibri\" size=\"3\"><strong><a href=\"https://www.iras.gov.sg/irashome/uploadedFiles/IRASHome/e-Tax_Guides/etaxguide_Income%20Tax_Avoidance%20of%20Double%20Taxation%20Agreements%20(DTAs).pdf\">here</a>.</strong></span></span></p><p> </p><p>   One of the latest agreements to avoid double taxation in Singapore is the agreement with Nigeria, signed on August 2, 2017. This document explains the tax rights of both jurisdictions to all forms of income that arise as a result of cross-border business activities. For example, profits from entrepreneurial activities, in accordance with the provisions of the concluded agreement, are taxable only in the jurisdiction of their registration, provided that the activity has not been conducted in another country through a permanent establishment. Otherwise, profits are taxed in another jurisdiction, but only a part related to a permanent establishment. A permanent establishment is an office, a department, a sales outlet, a factory, etc.</p><p>   Otherwise, profits are taxed in another jurisdiction, but only a part related to a permanent establishment. A permanent establishment is an office, a department, a sales outlet, a factory, etc.</p><p>   As you can see, the Singapore government is very interested in ensuring that all taxpayers are fully aware of and apply new rules. This significantly distinguishes it from the governments of many other countries, for example, Russian, where they mostly intimidate their taxpayers.</p><p>  Against the backdrop of this approach of the government, it is not surprising that according to a study by the British bank HSBC, Singapore for the second consecutive year is the most ideal place for the life of expats. It took first place in the ranking of countries with better living conditions for visiting employees. The comparison of different countries in this rating was based on the following criteria: quality of life, living conditions (security, attitude of the local population to visitors, medicine, real estate) and the economy (career, personal finance, local economy).</p><p></p><p style=\"text-align: center;\"><em>For more information, you can contact with CASTLE FAMILY OFFICE experts via email:  <span lang=\"EN-US\"><span face=\"Calibri\" size=\"3\"><strong><a href=\"mailto:info@castle-familyoffice.sg\">info@castle-familyoffice.sg</a></strong></span></span></em></p>','posts/3-7.jpg','singapore-has-published-dta',NULL,NULL,'PUBLISHED',0,'2018-05-18 19:14:00','2021-11-25 16:56:45',110),(86,1,2,'Hong Kong and Singapore - your excellent choice for opening innovative companies',NULL,'The Startup Ecosystem Ranking rating for 2017 was published, which lists the cities and territories where the start-up ecosystem is best developed. This year there have been noticeable changes in the rating.','<p>    The Startup Ecosystem Ranking rating for 2017 was published, which lists the cities and territories where the start-up ecosystem is best developed. This year there have been noticeable changes in the rating.</p><p>   The report was prepared by the Startup Genome, an American organization whose mission, she said, is to \"spread the start-up revolution around the globe, delivering it to every city, so that as many people as possible benefit from the economic benefits that it brings\".</p><p>   Several years ago, the company developed and launched the software product Startup Compass, which measures the utility index of the international ecosystem of start-ups, taking into account more than 50 indicators: the results achieved by start-ups, investments, the productivity of young companies, the infrastructure they created, the level of talent of their teams, trends, entrepreneurial spirit, the demand for specialization and much more. The program gathered information on 50 thousand start-ups operating worldwide today.</p><p>   In the top three of the list are still Silicon Valley, New York and London. The most important sensation was that the fourth and eighth places were Chinese cities - Beijing and Shanghai. The ranking was obviously appreciated by the fact that enterprising start-ups wishing to register a company in China, the government offers practical assistance to businessmen with extensive experience and simplified access to investments.</p><p>   Chinese cities were in TOP10 thanks to the company Ofo - the only start-up-\"unicorn\" in the territory of China. Startup is engaged in renting a popular in China transport - bicycles; its capitalization recently exceeded 1 billion US dollars.</p><p>   Closure of the Chinese market does not allow Chinese cities to enter the TOP3. As a rule, start-ups from China can not easily overcome the borders of the domestic market and enter the international level. Therefore, only a few young businessmen manage to enter the international market.</p><p>   Colleagues from Singapore bypassed startups from the technology center, located on the shore of the Bay of San Francisco in terms of talent. The first place in this category of Singapore helped to take an optimal combination of price and a decent level of local labor. Singapore\'s innovative companies are opening the youngest start-ups, whose average age does not exceed 28 years. At the same time, 8 out of 10 team members already have at least two years of experience in start-ups. Despite the fact that in the general ranking of Startup Ecosystem Ranking 2017 Singapore has moved from 10th to 12th place, the advantages that are provided here start-ups, including foreign ones, are very attractive.</p><p>   The government of Singapore, perhaps the most advanced in the world in the development of the IT industry. Seeking to create an analogue of Silicon Valley here, the authorities allocate \"tons\" of money for all sorts of grants and powerful support for business initiatives. This attitude is partly facilitated by the almost complete absence of elections and, as a result, political struggle - thanks to this, the government can look far ahead. Local authorities purposefully select the most talented minds with the help of a well-developed scholarship program.</p><p>   This small country has a very advantageous position to become an Asian version of Silicon Valley. While India and China are attracting more money, Singapore offers a minimum level of bureaucracy and the most powerful legislation. A new company can be opened online in 15 minutes. Thus, Singapore is an excellent starting base for access to larger markets in the region, which do not have these advantages.</p><p>   As the best of the Asian markets, Singapore is \"overrun\" with money. A large share of private venture capital is backed by state co-financing, which helped Singapore surpass many neighboring countries, except for the giants - India and China - in terms of total investment. This city-state has already registered more than 55 thousand start-ups that create jobs.</p><p> </p><p><strong>In Hong Kong part of the taxes will be returned to innovative companies</strong></p><p>   Another great place where you can register an innovative company is Hong Kong. As early as the spring of 2016, Hong Kong launched a special program to support innovative companies. Although there have been subsidies and grants here before, the Hong Kong government has decided to move further in this direction and at the legislative level has offered to return a portion of taxes to all owners of innovative companies. Get a partial refund can be local and foreign companies, including startups working in such areas as:</p><ul><li>IT;</li><li>robotics;</li><li>biotechnology;</li><li>electronics.</li></ul><p>   Corporate tax in Hong Kong is quite low - only 16.5 percent. The authorities approved subsidies of $ 1.5 billion (a small percentage of which is set aside for tax refunds) to ensure that an even larger number of businessmen engaged in innovation wanted to open a company in Hong Kong. Although the percentage is not so significant, the Hong Kong government has responded positively to the work of the new tax refund program and, probably, in the near future even more companies will be able to receive benefits and return from 30 to 50 percent of the income tax, in this way, the income tax rate to 8.25 percent.</p><p>   But in order to be able to take advantage of Hong Kong\'s tax breaks, an innovative company will need to take a place in one of the Hong Kong technoparks, which currently provide businesses with affordable offices and workstations. Thus, having an office in one of the technoparks of Hong Kong, the company can count on tax benefits, as well as the possibility of opening a current account in one of the Hong Kong banking institutions.</p><p>   In the table below you have the opportunity to compare Singapore and Hong Kong in terms of opportunities for opening up startups:</p><table border=\"1\" cellspacing=\"0\" cellpadding=\"0\"><tbody><tr><td width=\"170\" valign=\"top\"><p align=\"center\"><b> </b></p></td><td width=\"387\" valign=\"top\"><p align=\"center\"><strong>Singapore</strong></p></td><td width=\"413\" valign=\"top\"><p align=\"center\"><strong>Hong Kong</strong></p></td></tr><tr><td width=\"170\" valign=\"top\"><p>Population</p></td><td width=\"387\" valign=\"top\"><p>5.5 million</p></td><td width=\"413\" valign=\"top\"><p>7 million</p></td></tr><tr><td width=\"170\" valign=\"top\"><p>Advantages</p></td><td width=\"387\" valign=\"top\"><p>· State support for beginning businessmen, investors and business angels;</p><p>· Contacts in Southeast Asia.</p></td><td width=\"413\" valign=\"top\"><p>· Hong Kong is the best free economy in the world and has an index of opportunities and globalization number one. This is the most difficult and harsh stock exchange in the world, which in 2015-2016 ranked first in the IPO (194.8 billion Hong Kong dollars (25.1 billion US dollars));</p><p>· Hong Kong is the world leader in private equity and RMB services (Renminbi);</p><p>· On the territory of Hong Kong are head offices of world corporations. This is the brightest example of an ideal financial center with the strongest IR, GR, PR-agencies, which simplifies entering the market;</p><p>· Visa regime - for 140 states from 14 to 180 days free of charge;</p><p>· Hong Kong is a super-connector between China and the rest of the world. It has an ideal location - 4-5 hours of flight to any key Asian city;</p><p>· From Hong Kong you can easily get into the business and financial news of the world community;</p><p>· Hong Kong is a world where Google, Facebook, Instagram, Twitter, WatsApp and Asian analogues of video sharing sites, search engines, social networks and instant messengers are side by side: reneren.com, taobao.com, tudou.com, youku.com, alibaba.com, qq.com and Baidu search engine with a group of satellites.</p></td></tr><tr><td width=\"170\" valign=\"top\"><p>Minuses</p></td><td width=\"387\" valign=\"top\"><p>· It is not easy to attract and retain good employees, in particular, in IT;</p><p>· A small market hinders scalability, but allows you to test a business model for 5 million people.</p></td><td width=\"413\" valign=\"top\"><p>· Since Hong Kong is the Special Administrative Region of the PRC, as in China, there is government censorship;</p><p><br />· For a faster and more successful entry into the Asian market, not self-sufficient offices in Hong Kong are needed, but partnerships with local companies and the involvement of local experts, professional SMO, CEO and Asians;</p><p>· Here it is necessary to support the solution of social problems: technological and financial development, ecology, \"green theme\" - is inherent in any of the programs listed.</p></td></tr><tr><td width=\"170\" valign=\"top\"><p>Cost of doing business</p></td><td width=\"387\" valign=\"top\"><p>A high standard of living and expensive rent are minimized by benefits from the state for start-ups. In general, the costs of doing business are typical for a developed market.</p></td><td width=\"413\" valign=\"top\"><p>High standard of living, expensive rent, expenses are characteristic for the developed market. But InvestHK provides tremendous support for the ecosystem: it helps business angels, invests in accelerators and incubators, thereby setting up a system of grants, partnership, intellectual and financial support for entrepreneurs.</p></td></tr><tr><td width=\"170\" valign=\"top\"><p>What to expect</p></td><td width=\"387\" valign=\"top\"><p>Dynamic, business, highly educated metropolis.</p></td><td width=\"413\" valign=\"top\"><p>Highly educated, ultra-dynamic metropolis with a professional financial and entrepreneurial climate. Here, a developed legal system and business infrastructure, secured and loyal consumers are priceless factors for the success of a start-up.</p></td></tr><tr><td width=\"170\" valign=\"top\"><p>Business culture</p></td><td width=\"387\" valign=\"top\"><p>A professional business climate with a characteristic rivalry between private and governmental resources for the attention of talented entrepreneurs.</p><p>Singapore has a very developed legal system and technological infrastructure, which is priceless for the success of start-ups.</p></td><td width=\"413\" valign=\"top\"><p>One of the most influential and numerous community of private investors in the world.</p><p>At the heart of the business culture is Asian collectivism and hierarchy, well-known to Russians.</p></td></tr><tr><td width=\"170\" valign=\"top\"><p>Why Go</p></td><td width=\"387\" valign=\"top\"><p>The hub office in Singapore is ideal for testing a business model and entering the market of the Asia-Pacific region.</p></td><td width=\"413\" valign=\"top\"><p>Headquarters in Hong Kong will be an ideal solution for those who plan to start work in China and scale their product in the Asia-Pacific region.</p></td></tr><tr><td width=\"170\" valign=\"top\"><p>Priorities</p></td><td width=\"387\" valign=\"top\"><p>Smart Nation/City, CyberSecurity, DigitalHealth, EdTech, FinTech, General Mobile, Corporate Innovations, MediaTech.</p></td><td width=\"413\" valign=\"top\"><p>Mobile - 27%, e-commerce - 21%, EdTech - 16%, Gaming - 12%, FinTech - 8%, Healthcare - 8%, Wearable - 4%, Social media - 4%. There are new opportunities for art / design (more than 400 artists and 77 galleries) and F &amp; B startups (Food &amp; Beverage: for 70 million tourists there are 24 thousand points of HoReCa).</p></td></tr><tr><td width=\"170\" valign=\"top\"><p>Capabilities</p></td><td width=\"387\" valign=\"top\"><p>· Assistance in business development from the public fund Spring;</p><p>· TAX-deduction for business angels, incubation technology scheme from 500 thousand Singapore dollars, grants from 250 thousand Singapore dollars, business angel scheme from 2 million US dollars, international businessmen with a name - from 3 million US dollars;</p><p>· Eatly-stage venture fund from 10 million US dollars;</p><p>  · ACE and iJAM - start-up grants, incubation and acceleration programs in strategically important sectors of the world economy;</p><p>  · Scheme of monetization and opportunities for creating white-label with the Singapore ministries and corporations.</p><p> </p><p>This is not all opportunities for start-ups in Singapore. The main thing is the minimization of venture risks and excellent opportunities for A and B-rounds.</p></td><td width=\"413\" valign=\"top\"><p>· For start-ups: technological and design incubation programs, microfinance scheme, TSSSU - technological support for students, New Creative Micro Fund, Co-investment matching fund, accelerations for startups in media, mobile and financial technologies, B2B, smart cities, networking events and dating with service providers, assistance with research, visa support, PR and marketing, contacts during expansion.</p><p>· Special privileges in the field of branding, design: a separate fund for marketing development - SME Marketing Fund, BUD program for industrial corporate design, a scheme for Smart-design and business design.</p><p>· Collaborations with universities and industry under the UICP program, technological and incubation support program (iTSP): R &amp; D financial discount, grant grants for patents and internships in technology development, public product tests in conjunction with ministries, corporations, Enterprise Support Scheme (ESS), expert loans on expansion, the system of financing and grants for SME.</p></td></tr></tbody></table><p></p><p style=\"text-align: center;\"><em>For more information, you can contact with CASTLE FAMILY OFFICE experts via email:  <span lang=\"EN-US\"><span face=\"Calibri\" size=\"3\"><strong><a href=\"mailto:info@castle-familyoffice.sg\">info@castle-familyoffice.sg</a></strong></span></span></em></p>','posts/tec.jpg','hong-kong-and-singapore-your-excellent-choice-for-opening-innovative-companies',NULL,NULL,'PUBLISHED',0,'2018-05-18 17:00:00','2021-11-25 16:56:47',95),(87,1,2,'Remote account opening with external asset management at DBS Bank in Singapore',NULL,'The account with remote asset management is an excellent solution for those who are looking for opportunities to save and increase their savings, while using the services of the highest class in the world\'s leading financial institutions.','<p> The account with remote asset management is an excellent solution for those who are looking for opportunities to save and increase their savings, while using the services of the highest class in the world\'s leading financial institutions. <span id=\"result_box\" lang=\"en\"><span tabindex=\"-1\">Banks of one of the most important financial centers of the world - Singapore - have all the advantages necessary for managing the state.</span> Stability, reliability, customer orientation and active introduction of the latest technologies are the distinctive features of the Singapore banking sector. We offer you a remote account opening service with external asset management at the DBS bank in Singapore.</span></p><p> <span><em><strong>The chief advantages of an account with external asset</strong></em><em><strong> ma</strong></em><em><strong>nagement</strong></em><em><strong><br /></strong></em></span></p><p>   <span id=\"result_box\" lang=\"en\">An account with external asset management today becomes a viable alternative to an ordinary bank account for a number of objective reasons. This account is used to manage the state and is opened to individuals or holding companies. As a rule, the minimum deposit for opening an account with external asset management is from 1 million USD or the equivalent in another currency.</span></p><p>   <b></b>External Asset Manager (EAM) performs all communication with the bank on behalf of and in the interests of the client. EAM is easier to find a common language with representatives of the bank and provide all the necessary information, because he is a specialist in the banking sector. In addition, the external manager takes on a part of the responsibility for the client\'s Due Diligence. For banks, this is an advantageous opportunity to get a new customer while saving their own resources. In this regard, banks are now set to actively cooperate with EAM and it is much more preferable to open accounts with external asset management than accounts for ordinary private customers.</p><p>   <span id=\"result_box\" lang=\"en\">   For the client, this means the opportunity to open the account in a foreign bank as quickly and simply as possible, without leaving your country - the procedure is carried out remotely. Despite the fact that communication with the bank is carried out by EAM, the client remains the only beneficiary of the account with full control over all transactions.</span></p><div id=\"gt-res-tools\"><div id=\"gt-res-tools-l\"><div id=\"gt-pb-star\"><div tabindex=\"0\" class=\"goog-toolbar-button goog-inline-block trans-pb-button\" role=\"button\" aria-hidden=\"false\" aria-label=\"Сохранено\" data-tooltip=\"Сохранено\" data-tooltip-align=\"t,c\">   <span id=\"result_box\" lang=\"en\">One of the main advantages is access to completely independent counseling. The external asset manager does not work for any bank, it is completely independent person, which acts exclusively in the interests of the client. EAM is not interested in selling a certain product or service to the customer. EAM is interested in the client being satisfied with his activities and recommending it to his acquaintances.</span></div></div></div></div><p>   At the same time, the account holder with EAM uses all the products and services that the bank offers. Due to the double maintenance the client gets many advantages, in particular:</p><ul><li>double control of each operation avoids the risk of operational errors;</li><li>the widest choice of financial and investment options offered by the bank and available through EAM communications with other banks and external service providers;</li><li>the service time is not limited by the bank\'s working time;</li><li>access to analytics from two sources allows you to compare, draw your conclusions and make more informed decisions.</li></ul><p>    An account with EAM provides other advantages over a conventional account, namely:</p><ul><li><span title=\"полная защита интересов клиента перед банком, юридические консультации, финансовая и юридическая защита при заключении сделок с банком;\">full protection of the client\'s interests before the bank, legal advice, financial and legal protection when concluding transactions with the bank;</span></li><li><span title=\"комплексные решения для удовлетворения потребностей клиента и его семьи;\">complex solutions to meet the needs of the client and his family;</span></li><li><span title=\"возможность быстрого реагирования в случае возникновения неблагоприятной ситуации — например, когда нужно оперативно закрыть счет и перевести средства в другую юрисдикцию;\">the ability to respond quickly in the event of an unfavorable situation - for example, when you need to promptly close an account and transfer funds to another jurisdiction;</span></li><li><span title=\"привилегированный статус клиента в банке с доступом к дополнительным продуктам и услугам, бонусным программам и прочим преимуществам;\">the privileged status of the client in the bank with access to additional products and services, bonus programs and other benefits;</span></li><li><span title=\"возможность снизить расходы на обслуживание.\">possibility to reduce maintenance costs.</span></li></ul><p>   Most of the largest international banks around the world actively cooperate with external asset managers, providing their customers with particularly attractive conditions that are not available to ordinary customers.</p><p> </p><p><span><b><i>DBS in Singapore</i></b></span></p><p>   DBS (Development Bank of Singapore) <span tabindex=\"-1\">is the leading financial services group in Asia, headquartered in Singapore.</span> Since its inception, DBS has been striving to continuously increase its presence in China, Southeast and South Asia. Being originally an Asian bank, DBS can provide its customers with the most attractive opportunities in this region.</p><p>   <span id=\"result_box\" lang=\"en\">DBS is recognized by the Bank of the Year in Asia according to The Tanker, a member of the Financial Times group, and the Best Bank in the Asia-Pacific region by Global Finance. The bank also receives the title of the most reliable Asian bank under the Global Finance version for seven consecutive years - from 2009 to 2015.</span></p><p>   In turn, Euromoney magazine named DBS Bank the Best Digital Bank in the world, highly appreciating its achievements in the field of digital banking services.</p><p>   280 branches of DBS Bank operate in 18 Asian markets (including: in China, Hong Kong, Taiwan, India, Indonesia). DBS is the largest bank in Singapore with the largest share of the market for corporate and private banking services and serves more than 4.5 million retail customers.</p><p> </p><p><span><b><i><span class=\"short_text\" id=\"result_box\" lang=\"en\">Wealth <span tabindex=\"-1\">Management in DBS in Singapore</span></span></i></b></span></p><p>   <span id=\"result_box\" lang=\"en\">DBS offers a full range of banking services and wealth management services for its customers - both from Asia and other countries. Depending on the amount of the client\'s assets, there are three levels of maintenance programs:</span></p><ul><li>DBS Treasures — for customers with the amount of assets invested from 350,000 SGD (approximately 220,000 EUR);</li><li>DBS Treasures Private Client — for customers with the amount of invested assets from 1.5 million SGD (approximately 940,000 EUR);</li><li>DBS Private Bank — for clients with the amount of invested assets from 5 million SGD (approximately 3.15 million EUR).</li></ul><p>   <span id=\"result_box\" lang=\"en\">DBS gives you complete control in 24/7 mode with a simple and powerful digital platform. With its help you will get access to the results of financial research, as well as investment tools for managing, multiplying and preserving your condition.</span></p><p> </p><p><span><em><strong>Investment opportunities in DBS</strong></em></span></p><p>   DBS offers a variety of solutions to meet the various financial needs of its customers, including:</p><ul><li>Opportunities to enter the markets of China, India, the Middle East, North America and Europe;</li><li>A wide range of treasury products;</li><li>Unit trusts for all classes of assets and risk levels;</li><li>Bonds from the largest bookrunner in SGD;</li><li>A telephone trading service is available.</li></ul><p>   Preferential mortgage packages for the purchase of residential property in:</p><ul><li>Singapore;</li><li>London (zones 1 and 2);</li><li>Perth;</li><li>Sydney;</li><li>Melbourne.</li></ul><p>   Planning and heritage protection:</p><ul><li>a wide range of options for life insurance, health, urgent insurance and universal life insurance;</li><li>individual succession planning for wealth to ensure the right mix of traditional and modern approaches.</li></ul><p>   Planning of children\'s education:</p><ul><li>meeting the needs for financing the education of your children in Singapore through comprehensive solutions of the bank.</li></ul><p> </p><p><span><em><strong>Investment Portfolios</strong></em></span></p><p>   DBS model portfolios developed in consultation with Morningstar Investment Management Asia Limited are diversified in many classes of assets and investment styles in order to benefit from the best asset classes and reduce the impact of less profitable classes:</p><ul><li>Protective version of the portfolio - preservation of capital with minimal risk;</li><li>Conservative portfolio option - a small increase in capital with a low level of risk;</li><li>The balanced version of the portfolio is a moderate growth of capital through a balanced approach to risk and return;</li><li>Growth option - increase of well-being due to active use of risky assets;</li><li>An aggressive option is to maximize the capital growth potential by investing a significant part of the risky assets.</li></ul><p> </p><p><span><em><strong>Discretionary portfolio management in DBS Bank</strong></em></span></p><p>   Discretionary portfolio management is an opportunity to use the experience of a team of capital management professionals to free themselves from the day-to-day and routine involvement in managing an investment portfolio.</p><p>   Your advantages:</p><ul><li>Simplicity - the bank\'s specialists will gather best-in-class ideas in a diversified investment portfolio of investments, actively monitoring and restoring investment savings;</li><li>Direct access - portfolio managers are in direct access so that you can get an idea of the investment strategy;</li><li>Full transparency - information about all your positions and transactions for greater clarity regarding investments.</li></ul><p>   The range of services offered includes:</p><ul><li>Global Tactical Mandate;</li><li>The mandate of mutual funds;</li><li>Classic portfolio;</li><li>Portfolio with orientation to Asia;</li><li>Individually designed portfolio.</li></ul><p> </p><p><span><em><strong>Traditional banking services in DBS</strong></em></span></p><p>   DBS customers are available all the most popular types of banking services.</p><p>   Opening of accounts:</p><ol><li>      multiple currency account;</li><li>      banking services for expats;</li><li>      fixed deposit in foreign currency;</li><li>      fixed deposit in Singapore dollars (SGD);</li><li>      DBS Multiplier Account - an account that allows you to receive interest for performing operations such as payroll, investment, insurance, use of funds on a credit card or a mortgage.</li></ol><p>   Payment cards:</p><ol><li>      <span id=\"result_box\" lang=\"en\">The debit card of DBS Treasures, DBS Treasures Private Client or DBS Private Bank (Visa) - exclusivity and recognition around the world, cashback 0.3% per transaction;</span></li><li><span id=\"result_box\" lang=\"en\">      DBS Insignia Visa Infinite Card is an affordable credit of SGD 1 million and exclusive access to special services and offers available only to members of the club, as well as first-class travel privileges;</span></li><li><span id=\"result_box\" lang=\"en\">      DBS Treasures Black Elite Card (American Express) - an advantageous system of bonuses for those who travel a lot;</span></li><li><span id=\"result_box\" lang=\"en\">      A variety of debit and credit cards DBS.</span></li></ol><p>   Possibilities for making payments:</p><ul><li>       <span title=\"PayNow — возможность отправлять и получать платежи с помощью мобильного телефона;      \">PayNow - the ability to send and receive payments using a mobile phone;</span></li><li> <span title=\"PayNow — возможность отправлять и получать платежи с помощью мобильного телефона;      \">      </span><span title=\"Scan and Pay — мобильное приложение, позволяющее оплачивать товары и услуги через QR-код;      \">Scan and Pay - a mobile application that allows you to pay for goods and services through QR-code;</span></li><li> <span title=\"Scan and Pay — мобильное приложение, позволяющее оплачивать товары и услуги через QR-код;      \">      </span><span title=\"Местные платежи — быстрые и удобные способы перевода средств между счетами с помощью смартфона, интернет-банка и филиалов банка;      \">Local payments - fast and convenient ways of transferring funds between accounts using a smartphone, Internet bank and bank branches;</span></li><li> <span title=\"Местные платежи — быстрые и удобные способы перевода средств между счетами с помощью смартфона, интернет-банка и филиалов банка;      \">      </span><span title=\"Перечисление в тот же день с более низкими расценками при переводе денег в режиме онлайн с помощью DBS Remit (включает следующие страны: Австралия, Китай, Канада, страны Еврозоны, Гонконг, Индия, Индонезия, Малайзия, Филиппины, Великобритания и США);      \">A transfer on the same day with lower rates when transferring money online using DBS Remit (includes the following countries: Australia, China, Canada, the countries of the Eurozone, Hong Kong, India, Indonesia, Malaysia, Philippines, United Kingdom and the USA);</span></li><li> <span title=\"Перечисление в тот же день с более низкими расценками при переводе денег в режиме онлайн с помощью DBS Remit (включает следующие страны: Австралия, Китай, Канада, страны Еврозоны, Гонконг, Индия, Индонезия, Малайзия, Филиппины, Великобритания и США);      \">      </span><span title=\"Простая и удобная система оплаты местных платежей;      \">A simple and convenient payment system for local payments;</span></li><li><span title=\"Простая и удобная система оплаты местных платежей;      \">       </span><span title=\"Samsung Pay;      \">Samsung Pay;</span></li><li><span title=\"Samsung Pay;      \">       </span><span title=\"Apple Pay;      \">Apple Pay;</span></li><li><span title=\"Apple Pay;      \">       </span><span title=\"Google Pay™.\">Google Pay ™.</span></li></ul><p> </p><p><span><em><strong>The availability of credit</strong></em></span></p><p>   DBS offers its clients the opportunity to obtain the following types of loans:</p><ol><li>      loan for housing;</li><li>      a special program DBS Overseas Property Financing for investing in real estate in London and Australia;</li><li>      credit for the purchase of a car.</li></ol><p>   Remote account management capabilities:</p><ul><li>DBS iWealth is an advanced, comprehensive platform for banking and state management that allows you to access 24/7 access to more than 150 banking services and exclusive offers.</li></ul><p>   DBS iWealth are:</p><ul><li><span id=\"result_box\" lang=\"en\">online stock trading on 7 major international markets: Australia, Japan, UK, Singapore, Hong Kong, USA and Canada;</span></li><li><span id=\"result_box\" lang=\"en\">the ability to invest in more than 200 mutual trusts in 12 different currencies, quick access to information and expert analysis;</span></li><li><span id=\"result_box\" lang=\"en\">investment in foreign currency;</span></li><li><span id=\"result_box\" lang=\"en\">transfer of funds abroad on favorable terms;</span></li><li><span id=\"result_box\" lang=\"en\">regular news and market review;</span></li><li><span id=\"result_box\" lang=\"en\">the ability to set alerts for important events.</span></li></ul><p> </p><p><span><em><strong>Mobile DBS iWealth application</strong></em></span></p><p>   Mobile application DBS iWealth is a convenient way to manage your funds with your smartphone.</p><p>   Main characteristics:</p><ul><li><span id=\"result_box\" lang=\"en\">checking account balances with one click - no sign-in required;</span></li><li>y<span id=\"result_box\" lang=\"en\">our password is your fingerprint;</span></li><li><span id=\"result_box\" lang=\"en\">the ability to add up to 8 quick links for direct access to the most frequently used services;</span></li><li><span id=\"result_box\" lang=\"en\">access to the results of personalized research is in your hands.</span></li></ul><p> </p><p></p><p style=\"text-align: center;\"><em>By the procedure of remote account opening with EAM in DBS bank in Singapore - contact <strong>Castle Family Office</strong>!</em></p><p><span style=\"font-family: Calibri; font-size: medium;\" size=\"3\" face=\"Calibri\"></span></p>','posts/dbs.jpg','remote-account-opening-with-eam-at-dbs-bank-in-singapore',NULL,NULL,'PUBLISHED',0,'2018-05-21 14:40:00','2021-11-25 16:56:45',250),(88,1,2,'On which fields to register a company online in Singapore in 2018',NULL,'We suggest you familiarize yourself with the TOP of business trends of 2018 to determine the scope of activity and register an offshore company in Singapore that will succeed.','<p>   Leading companies of the world surprise us with bold and innovative products, some of which are in the making, and the other has already taken root. We suggest you familiarize yourself with the TOP of business trends of 2018 to determine the scope of activity and register an offshore company in Singapore that will succeed.</p><p>  </p><p><span style=\"text-decoration: underline;\"><em><strong>Offshore company in Singapore in the field of using artificial intelligence</strong></em></span></p><p>   In the understanding of many people, artificial intelligence (AI) is associated with dehumanization of processes. However, do not confuse AI with simple marketing automation. To better understand this field, we suggest you read the levels of artificial intelligence from Christopher Penn, vice president of marketing technology for SHIFT Communications.</p><p>   Machines perform tasks that are usually committed by people.</p><p>   Machines self-study.</p><p>   Machine learning combines the first 2 levels for deeper and more extensive training.</p><p>   More often than not, companies use AI of the first level, that is, they create machines that perform monotonous and redundant tasks, or process large amounts of information, thereby freeing staff for other, more important functions. As Penn notes, artificial intelligence is not a futuristic concept. Tools and technologies are effective and affordable, including at a price.</p><p>   Vivid examples of the use of artificial intelligence to analyze the GPS data:</p><ul><li>Google Maps uses information about the location of the customer in real-time with his phone.</li><li>GPS Insight can help telecommunications companies improve customer service processes. In addition, it allows municipalities to react more quickly in the event of an accident or a natural cataclysm.</li></ul><p>   New companies are able to provide a more highly configured of content delivery that will maximize the satisfaction of a particular consumer and his lifestyle. In addition, don\'t forget about the prospects of such a field of using AI, like robotics, which allows you to optimize processes.</p><p> </p><p><em><span style=\"text-decoration: underline;\"><strong>The development of live communication as an alternative to social media resources</strong></span></em></p><p>   Despite the flamboyant advertising in smartphones, which speaks of the obvious preference for people of social media resources to personal interaction, <span>whereas the </span><span>opposite</span><span> applies </span><span>in practice.</span> Many companies understand that nothing stimulates the development of strong social communities better than personal and living interactions. Even real-time video is better than recorded video. Just look at the popularity of Facebook Live.</p><p>   Now the online community is gaining popularity, where participants learn and share their experiences with each other. Individuals who are looking for high-value personal contacts purchase tickets for public events such as the B2B Forum from MarketingProfs in advance, as they are interested in social and social education, which here at times exceeds what can be obtained in social media resources.</p><p>   What new companies can offer in this area? New social media resources and technologies, whose goal is not to replace personal interactions, but to support them.</p><p> </p><p><span style=\"text-decoration: underline;\"><em><strong>What should the company in Singapore in the sphere of marketing pay attention to?</strong></em></span></p><p>   The current generation of buyers is different. Before buying, the client conducts his research, based on information provided on the company\'s website, online reviews, notes on social networks and blogs of Internet users. Therefore, when the consumer comes to the seller, he already knows all the parameters and characteristics of the product.</p><p>   In this regard, the marketing companies in 2018 have the task to revise their methods of promoting the company and focus not only on buyers, as today\'s informed buyers constantly learn, learn new information, building \"trust networks\" through communication with friends, acquaintances and employees. Interested in at least one person from this chain, you increase the percentage of attracting a buyer to purchase the product from the right company.</p><p>   According to analyst John Reed, marketers need to know where their prospects and friends of these prospects live. Companies should look for areas where their customers have questions, and strive to provide the opportunities available to address them. For example, if the investment company\'s clients don\'t have issues related to investing, then they have questions related to life or earnings. That\'s why, marketing companies should devote more time to their community, regardless of whether someone is in the process of buying or not. <span> W</span><span>hat good would that do</span>? The confidence from potential customers to the company. C<span class=\"both\">onsequently</span>, when the consumer decides to make the purchase of the goods included in the assortment of the company, he will not think about the acquisition for a long time and will make a choice in favor of the necessary company.</p><p>   The era of ignoring the functions and benefits of proposals has passed. If before an ideal customer could not even understand what the benefits of using the product / service are, now marketers should focus on the problems that the product / service solves, and the expected results from their application.</p><p>   Heads of companies before making a purchase decision are asked such questions as:</p><ul><li>Why do I need it?</li><li>What problem does this product / service can solve for me?</li><li>What is the likely result of using the product?</li><li>What are the prospects for investing in this product / service?</li></ul><p>   So what\'s wrong with an ordinary consumer? In other words, a new marketing line should be built on focusing attention on the problems that products help to overcome. By doing so, the company will succeed. There are bright examples - E Group and Catapult New Business. Consequently, marketing companies in 2018 should focus the focus on the product on the customer.</p><p> </p><p><span style=\"text-decoration: underline;\"><em><strong>How promising offshore company registration in Singapore in the production of video content?</strong></em></span></p><p>   Production of video content is now one of the most demanded areas. However, by 2018, certain trends have emerged. Customers no longer trust impersonal and mean marketing methods, they require establishing real connections with real people.</p><p>   The most popular type of content is video, but the audience gives preference to the video in real time, rather than recorded videos. Real-time video is recognized as the most effective way in 2018 to communicate with customers. According to statistics of content viewing on smartphones, video is the most popular and easily assimilated form of media.</p><p>   Real-time video is an opportunity for the company to \"revitalize\" its website, establish contact with consumers. In other words, stand out among a large number of competitors, form a good opinion of your brand and make yourself a good portray. What kind of video can this be:</p><ul><li>launch of the streaming production of the product;</li><li>webinars;</li><li>online session Q &amp; A;</li><li>product reviews.</li></ul><p>   What statistics say:</p><ul><li>80% of the audience, it\'s better not to read about the brand in the blog, but look at it live video;</li><li>82% of those who said they prefer to watch live video with the brand on social networks;</li><li>73% of B2B organizations note an increase in ROI from video marketing.</li></ul><p>   If the video on the air is popular and will be used by companies to increase competitiveness and sales, it means that services for the production of such video content will be in demand.</p><p> </p><p><span style=\"text-decoration: underline;\"><em><strong>Offshore company in Singapore in the field of blockade technologies</strong></em></span></p><p>   </p><p>   According to marketer and business strategist Clay Hebert, during the emergence of social networks, large companies could not understand how Twitter or Facebook and other social networks would affect their business, so they slowly adopted these technologies. Later they regretted the missed prospects. Today, companies do not want to lag behind. Already, we see a wider understanding and acceptance of blocking technologies by small and large companies.</p><p>   Block-technology has found its application not only in the crypto-currency. For example:</p><ul><li>Consulting firms (Accenture and Deloitte) use blocking to build chains of interactions and develop key alliances.</li><li>IBM collaborates with Nestle, Walmart, Costco and other partners through a blockchain. This technology has increased the security of food supplies.</li><li>Realtors to increase the competitiveness of their firm are gradually starting to take bitkoyn as a method of paying for a transaction of real estate purchase and sale.</li><li>The company Unikrn uses blocking technologies in the industry of rates for e-sports.</li><li>The start-up company Voatz (Boston) decided to combine online voting and blocking technologies to address the main electoral challenges related to accessibility, reliability, transparency and efficiency.</li></ul><p>   There are also pitfalls. Like other new technologies, the block system will make its own adjustments to traditional business processes, affecting the authentication of documents and the search for information. The new companies should develop new experience of using blockade technology, which can solve existing problems of the world.</p><p> </p><p></p><p style=\"text-align: center;\"><em>You can get professional advice on the registration of companies in Singapore by contacting <strong>Castle Family Office</strong>!</em></p><p><em> </em></p>','posts/sing.jpg','on-which-fields-to-register-a-company-online-in-singapore-in-2018',NULL,NULL,'PUBLISHED',0,'2018-05-21 15:30:00','2021-11-25 16:56:43',105),(89,1,2,'What offshore company in Singapore should take note?',NULL,'Singapore is one of the most famous financial centers, with a very high reputation. Сингапурские оффшоры регистрируются на территории, которая предоставляет достаточно внушительное количество преференций для развития иностранных компаний. Регистрация компании, как правило, происходит в удаленном режиме. На что же стоит обратить особое внимание, если Вы приняли решение вести бизнес в одной из передовых стран мира?','<p>   Singapore is one of the most famous financial centers, with a very high reputation. Singapore offshore companies are registered in the territory, which provides a fairly impressive number of preferences for the development of foreign companies. Registration of the company, as a rule, occurs in a remote mode. What should you pay special attention to if you decided to conduct business in one of the leading countries in the world?</p><p><span style=\"text-decoration: underline;\"><em><strong>Generational Change</strong></em></span></p><p>   Now begins the change of generations. Millennials, the oldest of whom are now 35, are starting to give way to the younger generation of Gen-Z, born after 1998.</p><p>   Millennials are people who are increasingly seeking to take a leading position in organizations. Gen-Z is the SMART-generation, radically different from its predecessors. People of the younger generation are called born with devices in their hands. In this regard, already now companies need to understand Gen-Z not only as potential buyers of their products, but also as future personnel, since the time when Millennials will start to lead Gen-Z is not far off.</p><p>   A company in Singapore should not skimp on the salary to attract professionals.</p><p>   The consultant for economic and scientific research Mary Kelly, economist-consultant and advisor for scientific research, shared her opinion about what to expect for companies.</p><p>   According to the Human Resources Management Society, we should expect salary growth of 3% in all areas of the economy. In general, the increase will affect the spheres that need highly qualified personnel:</p><ul><li>health,</li><li>care for the elderly,</li><li>physiotherapy.</li></ul><p>   In addition, the increase in wages will affect the spheres:</p><ul><li>engineering,</li><li>technologies of unmanned aerial vehicles,</li><li>virtual reality.</li></ul><p>   This is due to the fact that for a long time there has been no increase in wages in these sectors. We add here a record low unemployment rate (4.1% of the workforce). Consequently, employers will be forced to increase their salaries to attract and retain quality employees.</p><p>   Large companies plan their health care expenses at a rate of 6% of income. Despite the tendency to reduce the coverage of these expense items, employers understand that by creating plans for medical care of employees, they will attract qualified personnel and will be able to retain them. Talented employees when choosing a job look at the salary, ease, flexibility and autonomy of the work process.</p><p><span style=\"text-decoration: underline;\"><em><strong>Social learning is better than distance learning</strong></em></span></p><p>   Now more and more employees of the company work remotely. In addition to the usual refresher courses, online courses and training programs, it is necessary to look for other ways of training specialists, establishing links between them and developing their talents. In this case, social education can help, the learning process of which is the interaction of peers and colleagues with each other. For example, a casual meeting of colleagues over a cup of tea, during which they exchange ideas, is a prime example of this type of training. Since each participant in the meeting gets new knowledge and experience.</p><p>   According to Bloomberg research, 50% of companies already resort to social education, and 2/3 - plan to use it. This type of education can occur when:</p><ul><li>informal meeting of two people;</li><li>solving the problem by a team of employees in real time;</li><li>communication in practical communities;</li><li>use of social software, reference books, etc.</li></ul><p>   The advantages of social learning:</p><ul><li>Promotes individual development.</li><li>Increases the participation of each person in the learning process.</li><li>Participants do not feel lonely, as in the case of online courses.</li></ul><p>   Taking into account the merits of social learning, some online learning programs use chat rooms and communities on social networks, where each student can share their experiences, ask questions and get answers to them, and gain knowledge beyond the curriculum.</p><p>   Because companies are more likely to use social training, they will also use tools that support mentoring and consulting and training methods that organically use internal expertise.</p><p> <span style=\"text-decoration: underline;\"><em><strong>The company in Singapore will succeed, having in the staff of an expert on substantive issues</strong></em></span></p><p>   The trend of using subject matter experts (SMEs) appeared in 2017, and in 2018 it will get even more prevalence. Why are there so much attention to these specialists? Technological progress doesn\'t stand still. There are new technologies that expand the capabilities of the industry. Therefore, more and more SMEs are needed, which will train, guide and advise. A client who can read information about the company\'s products on the official website is not always able to understand how this product / service can help them.</p><p>   SMEs are valuable cadres that are aware of industry trends. They attend special events to exchange best practices and discuss the advantages and disadvantages of the work of a product and to identify how the new solution is better than the previous one. In addition, they help sales professionals, who note problems with attracting customers.</p><p>   The presence of SMEs in the staff includes:</p><ul><li>The need for management to provide training and support for specialists to assist them in their orientation in a complex sales environment.</li><li>Developing best practices in sales outlets with the aim of gaining industry and applied experience from traditional sellers, which will improve their performance, accordingly, increase sales of products.</li></ul><p>   The work of SMEs is based on:</p><ul><li>Increased attention to proper leading skills and narrowing the focus on the right opportunities to use the missing but effective resources.</li><li>To reduce the time spent on unsuccessful and unpromising opportunities.</li><li>Reduction of time for registration of documents and other administrative duties in order to increase the time spent on customer service.</li><li>Teaching your sales teams.</li><li>Developing expertise.</li></ul><p style=\"text-align: center;\"><em> If you have any questions, contact Castle Family Office specialists by email <em><strong><em><span face=\"Calibri\" size=\"3\"><span lang=\"EN-US\"><span face=\"Calibri\" size=\"3\"><a href=\"mailto:info@castle-familyoffice.sg\">info@castle-familyoffice.sg</a></span></span></span></em></strong></em> We will help you make the right decision and answer your questions!</em></p>','posts/image2.jpg','what-offshore-company-in-singapore-should-take-note',NULL,NULL,'PUBLISHED',0,'2018-05-21 17:30:00','2021-11-25 16:56:42',91),(90,1,2,'Buy dollars, wear diamonds ',NULL,'The US 10-year Treasury yield reached a high of 3.026%. This is above the Maginot line of 3%. What is nextThe Maginot line of 3% is an important barrier that has capped the Treasury yield. Crossing this line indicates further upside for Treasury yield and within reach of 3.22% in the medium term. ','<p></p><p>The US 10-year Treasury yield reached a high of 3.026%. This is above the Maginot line of 3%.</p><p></p><p></p><p> <b><span style=\"text-decoration: underline;\">What is next</span></b></p><p>The Maginot line of 3% is an important barrier that has capped the Treasury yield. Crossing this line indicates further upside for Treasury yield and within reach of 3.22% in the medium term.</p><p>We highlight the key levels as follows:</p><p>i) 3.052% - 2014 high</p><p>ii) 3.221% - 2011 July high</p><p>iii) 3.766% - 2011 high</p><p> </p><p><b><span style=\"text-decoration: underline;\">Buy US Dollar</span></b></p><p>Comparatively, the US Dollar has lagged behind the rise in US treasury yield. This is attributed mainly to the strength in Euros with recovering economic growth in the Eurozone.</p><p>Now, the Eurozone economic growth appears to have peaked. Deterioration in business activity and increasing dovish rhetoric from the ECB have weakened the Euro. For the past two weeks, Euro has corrected more than 1% against the US Dollar. It has also cracked below the 100 days moving average, an important trend indicator. With the help of Euro weakness, the US Dollar Index has broken past its 100 days moving average to close at 91.17.  This is a bullish setup for US Dollar to trend higher.</p><p>We highlight the key levels as follows:</p><p>i) 92.00 – 200 days moving average</p><p>ii) 95.15 – 2017 November high</p><p>iii) 103.82 – 2017 high</p><p> </p><p><b><span style=\"text-decoration: underline;\">Buy dollars, wear diamonds </span></b><b><span style=\"text-decoration: underline;\"></span></b></p><p>After his March appointment, the US economic advisor Larry Kudlow made a recommendation to “buy King Dollar” in his first interview. Since then, the US Dollar has gone nowhere with much of the upward climb only occurring in the past few days.   </p><p>Now, a hawkish Fed is driving the US Dollar appreciation. The monetary base for US Dollar has been shrinking, driven by selling back of bonds by US Fed. Short-term LIBOR yield has also been climbing up. Although global liquidity remains flush, this could easily unravel on any rapid rise in US Dollar. It could still be early days in the upward climb of the US Dollar in comparison to the surge in US 10-year yield and LIBOR. </p><p> </p><p>The old saying of “Buy dollars, wear diamonds” could still hold true.</p><p> </p><p><b>Edmund Chan, CFA</b></p><p><b> </b></p><p><b> </b></p>','posts/edmundch.jpg','buy-dollars,-wear-diamonds',NULL,NULL,'PUBLISHED',0,'2018-04-26 12:45:00','2021-11-25 16:57:16',119),(91,1,2,'Face the music',NULL,'Facebook face the music, albeit a pleasant one, for its 1Q2018 results. It announced a solid set of results with the share price jumping by more than 9%.Facebook’s results beat expectations with revenue growth at a healthy 49% y-o-y. EPS was at $1.69, beating expectations of $1.35. The company benefited from higher operating leverage with operating margin expanding by 4% to 45.5%.','<p>Facebook face the music, albeit a pleasant one, for its 1Q2018 results. It announced a solid set of results with the share price jumping by more than 9%.</p><p><span> </span></p><p><strong>1) The music was pleasant</strong></p><p>Facebook’s results beat expectations with revenue growth at a healthy 49% y-o-y. EPS was at $1.69, beating expectations of $1.35. The company benefited from higher operating leverage with operating margin expanding by 4% to 45.5%.</p><p></p><p><strong>2) Cambridge Analytica scandal</strong></p><p>Facebook faced a backlash from the Cambridge Analytica scandal where the social media platform is used to spread fake news during election campaigns. The share price has dropped more than 10% in March. Facebook is addressing these concerns by investing aggressively to strengthen the safety of its platform. It is guiding its operating expenses to grow 50-60% y-o-y from 45-60%. Capex is increased to $15bn as a result of increased spending at data centers, servers and network infrastructure. Headcounts are expected to expand especially in the areas of security and connectivity. From the higher expenditure, the management is showing its commitment in enhancing the reliability of the platform and protecting user data.<span></span></p><p><span> </span></p><p><strong>3) Advertisement machine</strong></p><p>The strong set of results are a testament to the popularity of Facebook. Advertisement revenue gained 42% y-o-y. There was pricing power with the ARPU jumping 32% y-o-y to $5.45. Advertising ARPU for the US and Canada surged 40%. In Asia and Europe, the advertising ARPU and 51% respectively. The number of active users also saw a healthy growth with Monthly Active Users gaining 13% y-o-y.</p><p> Despite all the recent headline noises, Facebook is still popular to users.</p><p> Facebook’s results are music to the ears for its investors.</p><p> </p><p><span>Edmund Chan, CFA</span></p>','posts/edmundch.jpg','face-the,music',NULL,NULL,'PUBLISHED',0,'2018-04-28 01:10:00','2021-11-25 16:57:14',80),(92,1,2,'All eyes on the Fed this week',NULL,'This coming week, we will see the US Fed meeting on Wednesday. In this May meeting, there will likely be no rate hike but the groundwork could lay for a rate hike in the June meeting. The Fed will likely acknowledge the soft 1Q GDP as a result of transitory factors. Last week, the released 1Q GDP figures saw a growth of 2.3%, the lowest in the past three quarters. However, GDP growth is expected to pick up from expansionary fiscal policy measures such as spending increases and tax cuts.','<p>This coming week, we will see the US Fed meeting on Wednesday. In this May meeting, there will likely be no rate hike but the groundwork could lay for a rate hike in the June meeting. The Fed will likely acknowledge the soft 1Q GDP as a result of transitory factors. Last week, the released 1Q GDP figures saw a growth of 2.3%, the lowest in the past three quarters. However, GDP growth is expected to pick up from expansionary fiscal policy measures such as spending increases and tax cuts.</p><p> </p><p>Core PCE inflation is released on 30 April. If it hits 2.0%, this will be the first time the Fed’s 2% inflation target is reached. The US nonfarm payrolls are released on Friday. A solid jobs report coupled with strong core PCE inflation could lead to markets pricing more rate hikes this year. So far, markets are expecting a total of three rate hikes this year followed by two more in 2019. Any deviation from the market expectations could lead to further volatility in the markets.</p><p> In Asia, there is a historic meeting between the leaders of North and South Korea on April 27. This is the first time a North Korean leader, Kim Jung Un, has visited South Korea in their seven-decade conflict. The positive summit could pave the way for President Kim to meet US President Trump in the coming weeks.</p><p> Compared to the deluge of earnings release last week, there is less companies reporting earnings in Asia. Singapore and Australia banks such as DBS, UOB, National Australia Bank and ANZ Bank are expected to report this week. In addition, mega tech companies such as Apple and Alibaba are slated to release results.</p><p> </p><p><strong><span style=\"text-decoration: underline;\">Monday – 30 April </span></strong></p><p>Macro data: US core PCE, South Korea Industrial Production</p><p>Earnings:</p><p>US and Europe – Allergan, MacDonald’s</p><p>Asia – DBS Group, Postal Savings Bank, BOC HK, HDFC</p><p><strong><span style=\"text-decoration-line: underline;\">Tuesday – 1 May</span></strong></p><p>Macro data: US ISM</p><p>Earnings:</p><p>US and Europe – Apple, Merck &amp; Co, BP PLC</p><p>Asia – ANZ Bank</p><p><strong><span style=\"text-decoration-line: underline;\">Wednesday – 2 May</span></strong></p><p><strong><span style=\"text-decoration-line: underline;\"></span></strong></p><p>Macro data: US Fed rate decision, India PMI, Euro area GDP</p><p>Earnings:</p><p>US and Europe – Mastercard, Kraft Heinz, Mondelez International, Novo Nordisk</p><p>Asia – Itochu Corp, Telekomunikasi Indonesia</p><p><strong><span style=\"text-decoration-line: underline;\">Thursday – 3 May</span></strong></p><p>Macro data: HK retail sales</p><p>Earnings:</p><p>US and Europe – Becton Dickinson, Du Pont</p><p>Asia – UOB, National Australia Bank</p><p><strong><span style=\"text-decoration-line: underline;\">Friday – 4 May</span></strong></p><p>Macro data: US Nonfarm payroll</p><p>Earnings:</p><p>US and Europe – Berkshire Hathaway, Merck &amp; Co, BNP Paribas, Celgene, Societe Generale</p><p>Asia – CNOOC, Macquarie Group, Alibaba Group</p><p> </p><p><b>Edmund Chan, CFA</b></p>','posts/edmundch.jpg','all-eyes-on-the-fed-this-week',NULL,NULL,'PUBLISHED',0,'2018-04-30 04:14:00','2021-11-25 16:57:14',83),(93,1,2,'Sell in May and Go away ',NULL,'The month of May has arrived. We examine the old market adage of “Sell in May and go away” across the three different regions in the USA, Europe and Asia. Since 1999, the average performance in May across the three regions is -0.8%, with 58% of the years registering negative performance. The best performance is 2009 with a performance of 9.5%. On the other hand, the following year in 2010 registered the worst performance of -10.2%. ','<p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The month of May has arrived. We examine the old market adage of “Sell in May and go away” across the three different regions in the USA, Europe and Asia. </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"> </span></p><p><span style=\"font-family: Calibri;\" face=\"Calibri\"><span style=\"font-size: medium;\" size=\"3\">Since 1999, the average performance in May across the three regions is -0.8%, with 58% of the years registering negative performance. The best performance is 2009 with a performance of 9.5%. On the other hand, the following year in 2010 registered the worst performance of -10.2%. </span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"> </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Among the three regions, the adage works best in Europe with the region registering negative performance 68% of the years. Asia-Pacific is not far away with negative performance 63% of the years. The adage do not hold true for the USA with negative performance only 37% of the years. Therefore, the USA is the best place to hide for any sell-off in May. </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"> </span></p><p><span style=\"font-family: Calibri;\" face=\"Calibri\"><span style=\"font-size: medium;\" size=\"3\">This year, the equity market has consolidated within a range as it adjusts to a new phase from <b>Goldilocks</b> to a <b>Reflation</b> regime. Earnings growth have been strong with several companies reporting 1Q18 earnings better than consensus. Stronger earnings growth and gradual rise in interest rates have provided support to the equity markets. Trade war tensions have also declined with a high-level US delegation expected to visit China to resolve trade issues between the two countries. Improvement to the US-China trade relations could boost risk assets and avoid the negative performance in May.</span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"> </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">On the other hand, the US 10-year yields have climbed to the 3% handle with the US Dollar rising above the 200-days moving average to 92.37. Although geopolitical tensions has rescinded in the Korea peninsula, it has risen in the Middle East region. The US, together with the UK and France, has recently launched missile strikes in Syria. Tensions between Israel and Iran in Syria are also escalating ahead of a critical May 12 deadline for the Iranian nuclear deal. Any protracted conflict in the Middle East or faster-than-expected interest rate increase could present a shock to the market and lead to a sell-off in May. </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"> </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The “Sell in May and Go away” aphorism could still hold true this May.</span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"> </span></p><p><span style=\"text-decoration: underline;\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">MSCI Indices performance (USD) in May</span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"> </span></p><table width=\"508\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\"><tbody><tr><td width=\"112\" nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Year</span></p></td><td width=\"91\" nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">USA </span></p></td><td width=\"91\" nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Europe </span></p></td><td width=\"115\" nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Asia Pacific </span></p></td><td width=\"100\" nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Yearly Average</span></p></td></tr><tr><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">2017</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">1.1</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">3.9</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">2.6</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">2.5</span></p></td></tr><tr><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">2016</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">1.6</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-1.2</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-1.6</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-0.4</span></p></td></tr><tr><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">2015</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">1.1</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-1.4</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-1.3</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-0.5</span></p></td></tr><tr><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">2014</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">2.2</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">0.2</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">3.2</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">1.8</span></p></td></tr><tr><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">2013</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">1.9</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-0.2</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-5.1</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-1.1</span></p></td></tr><tr><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">2012</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-6.4</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-13.0</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-10.2</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-9.8</span></p></td></tr><tr><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">2011</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-1.3</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-4.1</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-2.3</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-2.6</span></p></td></tr><tr><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">2010</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-8.3</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-12.6</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-9.8</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-10.2</span></p></td></tr><tr><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">2009</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">5.2</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">11.2</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">12.2</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">9.5</span></p></td></tr><tr><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">2008</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">1.4</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-0.5</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">0.0</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">0.3</span></p></td></tr><tr><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">2007</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">3.3</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">0.9</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">2.7</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">2.3</span></p></td></tr><tr><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">2006</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-3.2</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-3.8</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-6.6</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-4.5</span></p></td></tr><tr><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">2005</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">3.1</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-0.2</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">0.0</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">1.0</span></p></td></tr><tr><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">2004</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">1.2</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">1.0</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-3.1</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-0.3</span></p></td></tr><tr><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">2003</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">5.2</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">6.0</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">5.3</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">5.5</span></p></td></tr><tr><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">2002</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-0.9</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-1.2</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">3.8</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">0.6</span></p></td></tr><tr><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">2001</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">0.5</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-5.4</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-0.3</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-1.7</span></p></td></tr><tr><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">2000</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-2.7</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">0.0</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-5.8</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-2.9</span></p></td></tr><tr><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">1999</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-2.4</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-4.8</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-5.3</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-4.2</span></p></td></tr><tr><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">19 years Average</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">0.1</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-1.3</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-1.1</span></p></td><td nowrap=\"nowrap\" valign=\"bottom\"><p align=\"center\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">-0.8</span></p></td></tr></tbody></table><p><i><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Source: Bloomberg</span></i></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"> </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"> </span></p><p><b><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Edmund Chan, CFA</span></b></p>','posts/edmundch.jpg','sell-in-may',NULL,NULL,'PUBLISHED',0,'2018-05-03 01:12:00','2021-11-25 16:57:12',74),(94,1,2,'Symmetric 2% inflation objective',NULL,'The US Fed left the target funds rate unchanged at 1.5 to 1.75%. The notable change was the addition of the word “symmetric” to its 2% inflation objective.In the May meeting, the Fed target funds rate remained the same at 1.5 to 1.75%. The next rate hike is likely to occur in the June meeting. The Fed Fund futures has priced in 100% probability for interest rates to be at 1.75 to 2.0% in the next meeting.','<p><span style=\"font-family: Calibri;\" face=\"Calibri\"><span style=\"font-size: medium;\" size=\"3\">The US Fed left the target funds rate unchanged at 1.5 to 1.75%. The notable change was the addition of the word “symmetric” to its 2% inflation objective. </span></span></p><p></p><p><b><span style=\"text-decoration: underline;\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Fed Funds rate left unchanged</span></span></b></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">In the May meeting, the Fed target funds rate remained the same at 1.5 to 1.75%. The next rate hike is likely to occur in the June meeting. The Fed Fund futures has priced in 100% probability for interest rates to be at 1.75 to 2.0% in the next meeting.</span></p><p></p><p><b><span style=\"text-decoration: underline;\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Economy to accelerate</span></span></b></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The US Fed expects the economy to accelerate with the boost coming from fiscal stimulus. Business fixed investment are also expected “to grow strongly”, an upgrade from moderate level. On economic risks, they appear “roughly balanced”. The improved assessment of the economic growth could pave the wave for more rate hikes this year. </span></p><p></p><p><b><span style=\"text-decoration: underline;\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Not a dovish interpretation</span></span></b></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Inflation is expected to run near the Fed’s “symmetric 2% inflation objective over the medium term”. The market appears to interpret the addition of “symmetric” as dovish. </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"></span><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">We caution against the dovish interpretation. The Fed could be anticipating inflation to be more persistent in the coming months and it is preparing the market for it. Previously, the US Fed has not been afraid of inflation and was more concern of deflationary pressure. Only recently has inflation crept back up with the March core PCE inflation (y-o-y) at 1.9%. The Fed is now expecting inflation to move “close to 2 percent” from “continued to run below 2 percent”. Therefore, there is a paradigm shift to be more cautious of inflation. The addition of “symmetric” could be a hint that it is less generous of inflation overshooting its 2% target. </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"> <span lang=\"EN-GB\">The Fed has clearly signalled its intention to watch inflation. Should inflation continue its upward climb, the Fed might be forced to hike rates more aggressively.</span></span></p><p class=\"justifyleft\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"><span lang=\"EN-GB\"><img width=\"400\" height=\"240\" src=\"111.png\" /></span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"><span lang=\"EN-GB\"></span></span></p><p><i><span lang=\"EN-GB\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Source: Bloomberg</span></span></i></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"><span lang=\"EN-GB\"> </span></span></p><p><b><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Edmund Chan, CFA</span></b></p><p></p>','posts/edmundch.jpg','symmetric-inflation-objective',NULL,NULL,'PUBLISHED',0,'2018-05-03 05:10:00','2021-11-25 16:57:11',146),(95,1,2,'The new Apple polisher',NULL,'In Apple’s 2Q18 results, services segment is the star performer with strong 31% y-o-y growth. It could replace iPhone as the new apple polisher to CEO Tim Cook.Revenue from the services segment grew 31% y-o-y and now represented 15% of total company sales. iPhone still make up the bulk of Apple’s sales with close to 62%. But, it only grew 3% this quarter. ','<p>In Apple’s 2Q18 results, services segment is the star performer with strong 31% y-o-y growth. It could replace iPhone as the new apple polisher to CEO Tim Cook.</p><p> </p><p><b><span style=\"text-decoration: underline;\">Strong growth in the services segment </span></b></p><p>Revenue from the services segment grew 31% y-o-y and now represented 15% of total company sales.</p><p>iPhone still make up the bulk of Apple’s sales with close to 62%. But, it only grew 3% this quarter.</p><p>In the services segment, sales from iTunes, Apple Music, Apple Pay and the App store are the main contributors. So far, only less than half of Apple’s user are paid users. This represent an enormous opportunity for Apple to grow this segment. For instance, Apple is looking to expand its 40 million user base in Apple Music by lowering its pricing for students.</p><p>On the other hand, iPhone sales were meagre at 3%. iPhone X did not perform well as it was priced at the high end price of $999. Apple is diversifying its iPhones to multiple price points from low to high end. However, it could be facing tough completion form cheaper Chinese and Korean smartphones as ASP for iPhones have come off 8% to $728.</p><p>Apple expect the strong growth in services segment to offset any weakness in future iPhone sales. A higher services revenue mix is also positive for margins and have helped Apple to maintain its gross margin at 38.3%.</p><p> </p><p><b><span style=\"text-decoration: underline;\">High inventory</span></b></p><p>Apple is using its huge cash pile to hold higher inventory. The inventory jumped more than 70% q-o-q to $7.6bn. The bulk of inventory increase is due to components rather than unsold iPhones. This could be a strategic intent to secure components in tight supply such as memory and OLED panels. With higher inventory, it helps Apple to protect its margin from any price hike in component prices. However, this could impact Apple negatively should these component prices correct and result in inventory write-offs.</p><p> </p><p><b><span style=\"text-decoration: underline;\">$100bn buyback</span></b></p><p>Apple announced a $100bn share buyback. Dividend was also raised 16% to $0.73 per quarter, equivalent to 1.7% dividend yield. Apple is attractively valued at 6.5% earnings yield. Thus, it makes more economic sense for Apple to buy back more shares compared to paying out the cash as dividends. The $200bn share purchase is almost 11.5% of its market cap. There is no end date to the share buyback program and it would likely be used to support Apple’s share price on any dips.</p><p>Apple delivered a solid 2Q18 results with EPS at $2.73, beating expectations of $2.69. The share price reacted positively, rising more than 4% on the day of result announcement. The market appreciates the generous buyback as well as the robust growth in the services segment.</p><p>To combat the slowdown in iPhone, CEO Tim Cook has focused on selling an array of services via its large user base. He will surely take delight at the strong growth in services segment.</p><p>The services segment has turned out to be such an Apple polisher!</p><p> </p><p><b>Edmund Chan, CFA</b></p>','posts/edmundch.jpg','new-apple-polisher',NULL,NULL,'PUBLISHED',0,'2018-05-04 05:20:00','2021-11-25 16:57:10',103),(96,1,2,'Weak start to the month of May ',NULL,'The month of May has begun on a weak footing with most Asian markets posting declines. China H-shares Index and Indonesia Index led the fall. Key benchmark indices such as S&P 500 Index and MSCI Asia Pacific ex Japan Index are trading near their 200-days moving average level.','<p><span lang=\"EN-GB\">The month of May has begun on a weak footing with </span><span lang=\"EN-GB\">most Asian markets posting declines. China H-shares Index and Indonesia Index led the fall. Key benchmark indices such as S&amp;P 500 Index and MSCI Asia Pacific ex Japan Index are trading near their 200-days moving average level. Both displayed similar chart patterns having tested the 200-days moving average levels on three separate occasions this year. Any break below this key level could lead to a sharp correction and impact risk sentiments. </span></p><p><span lang=\"EN-GB\"> </span><span lang=\"EN-GB\">The US dollar Index continued its upward climb and has broken above its 200-days moving average level. Since mid-April, the US Dollar Index has risen more than 3% to 92.56. Further gains in the US dollar Index could be an impetus for equity market to break its support level. </span></p><p><span lang=\"EN-GB\"> </span><span lang=\"EN-GB\">Last week, the US reported weak employment data in April. Nonfarm payroll grew 164k, below expectations of 192k. The payroll miss is attributed to the early April winter storm in the Midwest. Wages are also soft. </span><span lang=\"EN-GB\">Average hourly earnings rose by 2.6% y-o-y, weaker than expected 2.7%. Unemployment rate declined to 3.9%, its lowest level since 2000. </span><span lang=\"EN-GB\"></span></p><p><span lang=\"EN-GB\"> </span><span lang=\"EN-GB\">Although trade war rhetoric has toned down, uncertainty remains. Last week’s high level trade talks between US and China </span><span lang=\"EN-GB\">ended disappointingly without any conclusive resolution. China is expected to release trade figures as well as inflation data in the coming week. This will shed further clues on the impact that heightened trade tensions has on China. Other key macro data reporting this week include Industrial Production for Germany, UK and France. </span></p><p><span lang=\"EN-GB\"> </span><span lang=\"EN-GB\">For earnings release this week, we will see Walt Disney and Anheuser-Busch as well as large-cap German companies such as Siemens, Deutsche Telekom and Deutsche Post reporting results. In Asia, we will see </span><span lang=\"EN-GB\">NTT, Hon Hai, Samsung Life and Westpac as well as <span>large-cap Japanese companies such as T</span>oyota, Panasonic and Softbank<span> reporting results.</span></span></p><p><span lang=\"EN-GB\"> </span></p><p><strong><span style=\"text-decoration: underline;\"><span lang=\"EN-GB\">Monday – 7 May</span></span></strong><span lang=\"EN-GB\"></span></p><p><span lang=\"EN-GB\">Macro data: HK and China Foreign Reserves</span><span lang=\"EN-GB\"></span></p><p><span lang=\"EN-GB\">Earnings:</span><span lang=\"EN-GB\"></span></p><p><span lang=\"EN-GB\">US and Europe – Cognizant Technology</span><span lang=\"EN-GB\"></span></p><p><span lang=\"EN-GB\">Asia – OCBC, China Overseas Land, ICICI, Axis Bank, Westpac</span><span lang=\"EN-GB\"></span></p><p><span lang=\"EN-GB\"> </span></p><p><strong><span style=\"text-decoration: underline;\"><span lang=\"EN-GB\">Tuesday – 8 May</span></span></strong><span lang=\"EN-GB\"></span></p><p><span lang=\"EN-GB\">Macro data: China Exports, Imports and FDI, Germany Industrial Production</span><span lang=\"EN-GB\"></span></p><p><span lang=\"EN-GB\">Earnings:</span><span lang=\"EN-GB\"></span></p><p><span lang=\"EN-GB\">US and Europe – Disney, Intesa Sanpaolo, Deutsche Post</span><span lang=\"EN-GB\"></span></p><p><span lang=\"EN-GB\">Asia – BOC HK, Mitsubishi, KB Financial, JD.com</span><span lang=\"EN-GB\"></span></p><p><span lang=\"EN-GB\"> </span></p><p><strong><span style=\"text-decoration: underline;\"><span lang=\"EN-GB\">Wednesday – 9 May</span></span></strong><span lang=\"EN-GB\"></span></p><p><span lang=\"EN-GB\">Macro data: France Industrial Production</span><span lang=\"EN-GB\"></span></p><p><span lang=\"EN-GB\">Earnings:</span><span lang=\"EN-GB\"></span></p><p><span lang=\"EN-GB\">US and Europe – Anheuser-Busch, Siemens, Deutsche Telekom</span><span lang=\"EN-GB\"></span></p><p><span lang=\"EN-GB\">Asia – Toyota Motors, Softbank, HK Exchange, Amore Pacific</span><span lang=\"EN-GB\"></span></p><p><span lang=\"EN-GB\"> </span></p><p><strong><span style=\"text-decoration: underline;\"><span lang=\"EN-GB\">Thursday – 10 May</span></span></strong><span lang=\"EN-GB\"></span></p><p><span lang=\"EN-GB\">Macro data: US and China CPI, UK Industrial Production</span><span lang=\"EN-GB\"></span></p><p><span lang=\"EN-GB\">Earnings:</span><span lang=\"EN-GB\"></span></p><p><span lang=\"EN-GB\">US and Europe – NVIDIA</span><span lang=\"EN-GB\"></span></p><p><span lang=\"EN-GB\">Asia – Bridgestone, Panasonic, Advanced Info</span><span lang=\"EN-GB\"></span></p><p><span lang=\"EN-GB\"> </span></p><p><strong><span style=\"text-decoration: underline;\"><span lang=\"EN-GB\">Friday – 11 May</span></span></strong><span lang=\"EN-GB\"></span></p><p><span lang=\"EN-GB\">Macro data: <span> </span>HK GDP, India Industrial Production</span><span lang=\"EN-GB\"></span></p><p><span lang=\"EN-GB\">Earnings:</span><span lang=\"EN-GB\"></span></p><p><span lang=\"EN-GB\">Asia – Hon Hai, NTT, Samsung Life</span></p><p><strong><span lang=\"EN-GB\"> </span></strong></p><p><strong><span lang=\"EN-GB\">Edmund Chan, CFA</span></strong></p>','posts/edmundch.jpg','weak-start-to-the-month-of-may',NULL,NULL,'PUBLISHED',0,'2018-05-07 07:02:00','2021-11-25 16:57:09',64),(97,1,2,'How to get financing when starting a business in Dubai?',NULL,'Opening a business in Dubai is only the first step to success. But to earn more money, you need money. In this article, we will consider questions of financing start-ups in Dubai.','<p>Opening a business in Dubai is only the first step to success. But to earn more money, you need money. In this article, we will consider questions of financing start-ups in Dubai.<br /> <br /> In fact, any business is based on money. From the beginning, strategic use of funds determines the size of your company\'s profits in the long term. This makes financing or initial investment the most important part of a startup.<br /> <br /> Now any entrepreneur believes that the most important thing is to find and determine a business financing option. Problems such as the lack of venture capital and high rates for bank loans are a serious obstacle for start-ups, small and medium-sized enterprises.<br /> <br /> Fortunately, Dubai\'s business environment provides many financing options, and ease of access and relatively less time-consuming approval of initial investments make Dubai one of the best cities in the world to open its own business.<br /> <br /> Let us look more closely at funding types that can be considered an entrepreneur starting a business in Dubai.</p><p> </p><p><b>Self-financing when starting a business in Dubai</b></p><p>If an entrepreneur has any personal savings, it can be used for start a business in Dubai.<br /> According to the business plan calculations entrepreneur can make their own. And our experts can help with the calculation of expenses such as the registration of a local company costs in the UAE, or to register the company in the UAE in the free zone, the opening of a corporate bank account in Dubai for an investor resident <span style=\"font-family: Calibri;\" face=\"Calibri\"><span style=\"font-size: medium;\" size=\"3\">visa UAE and for the issuance of UAE workers\' residence visas for employees. It should be noted that the UAE has a WPS payroll protection system and it will be necessary to transfer funds to returnable salary deposits.</span></span></p><p> </p><p><b>Crowdfunding or an equitable investment when starting a business in Dubai</b></p><p>Equitable financing is one of the best ways to meet the ideal investor for your startup. This is a type of debt financing, which allows to borrow money without the intervention of the financial institution.<br /> <br /> As an example, here are several online platforms in the UAE, are worth considering:<br /> <br /> <b><i>Beehive</i></b> is the first in the UAE online trading platform for equitable lending. Beehive directly connects businesses looking for finance with investors. You can register your business on Beehive by link: <em><a href=\"https://business.beehive.ae/UAEAccount/Register\" target=\"_blank\">https://business.beehive.ae/UAEAccount/Register</a></em>.<br /> <b><i>Eureeca</i></b> is another popular crowdfunding platform in the UAE. This is the first global platform for crowdfunding shares, headquartered in Dubai. The platform allows participants of its investor network to buy shares in growth-oriented companies while providing companies with access to capital. You can register via the link: <em><a href=\"https://eureeca.com/CrowdInvesting/Entrepreneurs/English\" target=\"_blank\">https://eureeca.com/CrowdInvesting/Entrepreneurs/English</a></em>.<br /> <b><i>Zoomaal</i></b> was created by four major Arab investors, и It is an excellent resource for entrepreneurs who are event organizers, creators, scientists, engineers, web and mobile developers, designers, video producers and public figures. To become a part of this platform, you can click on the link: <em><a href=\"http://www.zoomaal.com/start/signup\" target=\"_blank\">http://www.zoomaal.com/start/signup</a></em>.</p><p> </p><p><b>Use of bank loans when opening a business in Dubai</b></p><p>Almost all major banks in the UAE offer good lending options for start-ups and entrepreneurs at favorable interest rates. Any bank in which you already have a current account or even new banks can provide you with a variety of lending options. You can get flexible plans of installments from several months to two years.<br /> <br /> In addition to the usual loans for start-ups, there are also funds for start-ups managed by local banks, which are also worth considering. Mohammed Bin Rashid Innovation Fund (MBRIF) government fund has recently been established. This is an initiative of the Ministry of Finance of the UAE, which is managed by the Development Bank of the Emirates and offers direct loans corresponding to the Shariah. More information: <em><a href=\"https://www.mof.gov.ae/En/About/programsProjects/Pages/MohamedBinRashidInnovationBox.aspx\" target=\"_blank\">https://www.mof.gov.ae/En/About/programsProjects/Pages/MohamedBinRashidInnovationBox.aspx</a></em></p><p> </p><p><b>Attracting investors when starting a business in Dubai</b></p><p>Investors when starting a business in Dubai are private or legal entities that provide capital to start a business, usually in exchange for a convertible debt or equity interest. As the entrepreneurial ecosystem in Dubai has flourished in recent years, the number of investors has also increased.<br /> <br /> In Dubai and the UAE there are a number of private individuals who invest in start-ups. The list of such persons can be found here: <em><a href=\"https://angel.co/dubai/investors\" target=\"_blank\">https://angel.co/dubai/investors</a></em>.<br /> <br /> If you are a woman entrepreneur, you need to take into account that in Dubai there are a number of investors who invest in women\'s start-ups. WAIN and WOMENA investor group are the most active investors in this area.<br /> <br /> <b>Incubators and accelerators that help in opening a business in Dubai</b><br /> Dubai is known for specialized places for entrepreneurs, where initial investments, training and assistance in starting a business can be provided if necessary. Dubai incubators and accelerators not only provide paid services, but also have the ability to provide your company\'s initial investment.</p>','posts/burj_khalifa_aka_burj_dubai.jpg','to-get-financing-when-starting-a-business-in-dubai',NULL,NULL,'PUBLISHED',0,'2018-05-08 15:43:00','2021-11-25 16:57:07',55),(98,1,2,'The Bahamas is recommended for deleting from tax black-list of EU',NULL,'The Government of the Bahamas got an official letter from Head Quartier of EU Code of Conduct for business. The letter includes an important information about the decision for deleting the Bahamas from tax black-list for offshore jurisdictions countries.','<p><span style=\"font-family: Calibri;\" face=\"Calibri\"><span style=\"font-size: medium;\" size=\"3\">The Government of the Bahamas got an official letter from Head Quartier of EU Code of Conduct for business. The letter includes an important information about the decision for deleting the Bahamas from tax black-list for offshore jurisdictions countries.</span></span></p><p><span style=\"font-family: Calibri;\" face=\"Calibri\"><span style=\"font-size: medium;\" size=\"3\">  Only a month ago, on March 13, EU made decision for joining the Bahamas to countries of unconsolidating rules of taxation. Virgin Islands and Federation of Saint Kitts and Nevis will also be included in the list, where now there are 9 positions.</span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">  The Euro Union is seriously worrying about politic of taxation on all offshore territories, for this reason EU members cooperate only with countries which support their politics position.</span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">  Although this black-list is using only for information nevertheless it has a big influence for choosing of business partners and contractors.</span></p><p><b><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">  </span></b><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Since entering the list, the Bahamas has immediately initiated cooperation with the Commission of the European Union Code of Conduct for the purpose of excluding it, as announced by Prime Minister Terquest. This unit decides to include or exclude one or another offshore jurisdiction in the \"black list\". At the moment the cooperation of the Bahamas with the Code could lead to a positive outcome in terms of graduation.</span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">  More details about the entry of the Bahamas into the \"black list\" of the EU: \"Countries from the\" black list \"deprived of access to the funds of the European Union\".</span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">  The Bahamas are eager to adapt their legislation to the requirements of the EU and plan to implement all amendments until December 2018. Only if these conditions are fulfilled will the islands become highly competitive tax jurisdictions. In this case, the Bahamas will meet the requirements of the OECD initiative (Organization for Economic Cooperation and Development).</span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"> </span></p><p><b><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Steps to exclusion the Bahamas from the list of countries of incompatible tax jurisdictions.</span></b><b><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"> </span></b></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">  The meeting of the EU delegation, which decided to recommend the exclusion of the Bahamas from the \"black list\", was held on April 12. The decision was passed to the Council on Economic and Financial Affairs of the EU, it is officially responsible for such statements. The final decision on this issue will be made at the next meeting, which will be held on May 25.</span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">  In turn, the Ministry of Finance of the Bahamas will continue to implement policies that will help preserve and protect the reputation of the island\'s jurisdiction as an international financial center. Also, the government will continue to adhere to international regulatory standards and will support financial regulators that reduce the number of financial crimes - money laundering and terrorist financing. </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"> </span></p><p><b><span style=\"font-family: Calibri;\" face=\"Calibri\"><span style=\"font-size: medium;\" size=\"3\"> Aspiration of the Bahamas to international standards provides business benefits.</span></span></b><b><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"> </span></b></p><p>  The targeted policy of the Bahamas aimed at becoming a recognized international financial center opens up good business opportunities in the Bahamas. In turn, the government\'s desire to be excluded from the \"black list\" of incompatible tax jurisdictions of the EU confirms participation in an active dialogue with the Code of Conduct and EU members. Such a policy will lead to the fact that companies registered in the Bahamas will be able to actively conduct commercial activities with the countries of the European Union.<span><br /></span></p>','posts/EU.jpg','he-bahamas-is-recommended-for-deleting-from-tax-black-list-of-eu',NULL,NULL,'PUBLISHED',0,'2018-05-08 16:49:54','2021-11-25 16:57:07',83),(99,1,2,'How to open an account for a foreign company in Hong Kong?',NULL,'Hong Kong, continuing to confidently hold the position of one of the world\'s leading global economic centers, attracts the attention of both small enterprises and large corporations for the effective account in Hong Kong to conduct business both with Southeast Asia in general, and with China in particular','<p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Hong Kong, continuing to confidently hold the position of one of the world\'s leading global economic centers, attracts the attention of both small enterprises and large corporations for the effective account in Hong Kong to conduct business both with Southeast Asia in general, and with China in particular.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">However, given the position of Hong Kong not only as an international financial center, but also a kind of financial gateway for China, local banks have to withstand the onslaught of both international regulators, primarily located in the United States, and regulators from China, which have recently focused on containing outcoming flow of money.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Therefore, the banks of Hong Kong, in order not to fall under the punitive hand, increase control over the opening of new accounts, as well as over existing accounts. The growing tendency to reduce the opening of accounts for foreign companies has led to the fact that now such accounts are opened in very limited quantities.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">In practice, if a foreign company meets the needed conditions, then there are chances of opening an account in Hong Kong. The banks of Hong Kong, when working with non-residents, accept both separate conditions and groups of conditions in the aggregate. In this case we are talking about the following:</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The company must have a confirmed history of conducting international business for at least 3-5 years. The activities of company should be easily documentary verified from open sources of information.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The company\'s activities should not be associated with countries in the high-risk zone, according to the Hong Kong banks. If the activity is related, then the share of such countries in the total volume of operations should be insignificant, excluding, of course, countries that are under international sanctions established by the UN (for example, Syria, South Sudan, Iran, North Korea, others).</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The company\'s activities should not be related to the sale of dual-use or military goods, fuel resources and minerals (gas, oil, precious metals), as well as financial services (requires a separate license) and some Internet services.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The company is part of an international holding company with a proven history that can be checked through open sources of information.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The company is established in a country that is not a high-risk country, according to the Hong Kong banks. Documents of the company, ideally, should be compiled originally in English.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The company should to have a transparent and simple ownership and management structure, ideally, one or more directors (individual), with experience in this area and one or more shareholders (preferably individuals, but legal entities are also allowed if they are part of international holdings with a history, with a confirmed legal source of income, having previous experience in this area, living or registered in a country with a reduced risk, according to the Hong Kong banks.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The company should to have close business relations with Hong Kong and China in the form of concluded contracts with local resident companies-suppliers, or among the company\'s clients there are local residents. This is the main determining condition for opening a corporate account for non-residents in Hong Kong.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The company is a holding company in relation to one or several local Hong Kong companies.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The company was registered with the Hong Kong Register of Companies as a Registered Non-Hong Kong Company and operates in the territory of Hong Kong. An example is a number of holding companies registered in BVI, Bermuda, Cayman Islands, investing in Hong Kong and China.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The company is ready to cooperate with the bank in terms of purchasing proposed investment products for the company itself and for its participants (director, shareholder). We are talking about accumulative insurance plans, investing in shares, promissory notes, other securities.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The list of Hong Kong banks that are willing to open accounts for foreign companies on the above conditions is very limited. Only a few banks in Hong Kong are ready to take on such a company.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Success in opening a non-resident account in Hong Kong does not mean that you should calm down and forget about the risks of sudden closure of this account. As it was said at the beginning, Hong Kong banks are under strict supervision, therefore they control both incoming and outgoing transactions. This is especially true for foreign companies with accounts in Hong Kong.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">To maintain and maintain a successfully opened bank account in Hong Kong, you should follow certain rules. Attention! These rules apply not only to accounts of foreign companies in Hong Kong, but also accounts of local companies registered in Hong Kong:</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Always answer calls, electronic and ordinary letters within the time frame set by the bank with the maximum disclosure of the required information and the provision of the necessary supporting documents.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Large transactions that you conduct through Hong Kong banks, it is better to break up into parts so that they do not exceed 50 000 - 100 000 USD.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">If there is no possibility to split the payment into parts, it is better to coordinate with the bank in advance incoming and outgoing payments exceeding the specified limit, providing information and documents in advance.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Try, at the maximum, when carrying out large transactions, use currencies other than the US dollar.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Each transaction must be accompanied by documents (invoice and contract).</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Watch out for whom you get the money from. It is necessary to avoid companies that are on the sanctions lists. It is also important to avoid companies with names that partially or completely coincide with the companies from the sanctions lists (this may cause additional questions of the bank). Always check with your buyer company-payer.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Keep an eye on the person you pay for. It is necessary to avoid companies that are on the sanctions lists. If the names of companies overlap with the names of companies from the sanctions lists - prepare for additional questions from the bank. Always check with your supplier of the receiving company of the transaction originating from your account in Hong Kong.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Always specify in detail the purpose of payment when making payment. Negotiate with your customers the description of the payments to you on the account.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Make sure that both incoming and outgoing payments to you account in Hong Kong are carried out within the previously announced fields of activity. If you change the scope of activity, it is better to inform the bank about it beforehand.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Avoid end-to-end transfers of identical amounts during the day, meaning that if a certain amount comes to the account, then the outgoing amount is not recommended to be set in the same amount. This can raise questions and suspicions on the part of the bank in money laundering.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Avoid frequent and unreasonable payments from individuals \'accounts and to individuals\' accounts.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Avoid changing the description of the purpose of the payment upon receipt and subsequent payment of payments. If the fixed assets come for the goods, then they must go for the goods, and not for the services, for example. This causes suspicion of the bank.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">In general, to sum up this article, I would like to say that at the moment it seems more realistic to open an account for a company registered in Hong Kong and having a physical presence in Hong Kong in the form of a rented office and, preferably, local employees in the state that has business contacts (suppliers or buyers) in Hong Kong and China, carries out its operations primarily with countries that have a reduced level of risk. Directors and shareholders of such companies need to have proven business management experience in this area, as well as a confirmed legal source of income, it is desirable to have a residence address in a country with lower risk.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Nevertheless, every case of an account opening is currently being considered on an individual basis, we are ready to estimate the chances on the basis of information received from you and offer advice on the possibility of opening an account with a bank in Hong Kong.</span></span></p><p><span> </span></p>','posts/gonkong-megapolis-zdaniya-neboskryoby-bc2bbb4.jpg','how-to-open-an-account-for-a-foreign-company-in-hong-kong',NULL,NULL,'PUBLISHED',0,'2018-05-08 17:00:00','2021-11-25 16:57:05',78),(100,1,2,'Citizenship for investment 2018 - Where will the next program appear?',NULL,'All Russians, Ukrainians, Kazakhstanis, Azerbaijanis and Belarusians who are considering the possibility of applying for citizenship for investments in 2018 should carefully study this article. We bring to your attention the forecast of where in the short term, as experts expect, a new scheme \"citizenship for investments\" may appear. The forecast is based on a detailed analysis of trends.','<p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">All Russians, Ukrainians, Kazakhstanis, Azerbaijanis and Belarusians who are considering the possibility of applying for citizenship for investments in 2018 should carefully study this article. We bring to your attention the forecast of where in the short term, as experts expect, a new scheme \"citizenship for investments\" may appear. The forecast is based on a detailed analysis of trends.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Are you going to apply for citizenship in 2018? Countries in various parts of the world are ready to accept your capital. Where is citizenship available for investment? Malta, Cyprus, Grenada, Vanuatu and many other countries are waiting for you.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Abroad you can get citizenship for real estate, business opening, securities or subsidies. There are a lot of options - as well as \"citizenship for investment\" programs, which are becoming more and more according to the different reasons.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Only in the last two years five legal programs \"citizenship for investments\" have been opened in Saint Lucia, Vanuatu, Turkey, Moldova and Jordan. And the St. Lucians even managed to make serious changes to the conditions of their scheme, in effect changing it completely</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">As expected, soon a similar scheme will be launched in Montenegro, which is a candidate country for accession to the European Union.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">But the Montenegrins are slow, developing their scheme is not the first year. In the opinion of independent analysts, this is due not least to the current situation in the market, which is not very favorable to newcomers.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The recent \"price war\" in the Caribbean has made the \"acquisition\" of a new Caribbean passport more accessible, and the demand for related services, experts expect, will increase significantly in the next few years.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The above-mentioned \"price war\" also has a discouraging effect on potential new participants in the global market for the provision of passports to foreign investors.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">It also initiated discussions about the formation of a cartel among Caribbean countries with \"citizenship for investment\" programs in order to eliminate negative trends in pricing. </span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"><span>Despite such \"price wars\", new programs are created and launched. There is a high probability that several newcomers will enter the market already this year. The only question is: where exactly will the new \"citizenship for investment\" schemes appear?</span></span></span></p>','posts/image00261.jpg','citizenship-for-investment2018-where-will-the-next-program-appear',NULL,NULL,'PUBLISHED',0,'2018-05-10 02:15:00','2021-11-25 16:57:05',42),(101,1,2,'Citizenship for investments 2018 - New program in Europe',NULL,'There are already a couple of worthy programs \"citizenship for investments\" In the region. The most accessible of them is the scheme that operates in Moldova and involves investing an amount of 100 thousand euros.','<p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">There are already a couple of worthy programs \"citizenship for investments\" In the region. The most accessible of them is the scheme that operates in Moldova and involves investing an amount of 100 thousand euros.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The Maltese scheme deserves attention, the participants of which need to pay 10 times more: about 1 million euros in exchange for a visa-free regime in the US and Canada, as well as the other bonuses.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The Cypriots have twice established a higher \"price tag\" on their passport. This is compensated at times by the faster passage of all procedures within the local program \"citizenship for investment\" and more liberal requirements for program participants</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">But where can we expect the new European program \"citizenship for investments\"? It seems that Eastern Europe is the next \"battlefield\" for the investor. Thus, the authorities of Montenegro, as already mentioned above, are actively engaged in the creation of the program \"citizenship for investments\", intending to launch this scheme in the nearest future.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">According to the Montenegrin passport it will be possible to travel throughout the united Europe and most countries of South America. But we should not forget that the number of visa-free countries is not the only criterion that should be followed when choosing a new passport and citizenship.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The authorities of Albania are also likely to voice the proposal to launch such a program in the nearest future. The EU\'s tolerance to citizenship for investment programs is likely to open the gates to other Balkan countries that will follow suit. Their possible ascent to the EU in the medium term makes participation in the Balkan programs \"citizenship for investment\" a very attractive option.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The program \"citizenship for investments\" can be launched in Serbia, which now attracts more and more Chinese investments. If Chinese business projects are successful, it can attract even more foreign investors to the country from the East, many of whom will voice their desire to receive a passport of Serbia. And, it is possible that the local government will go to meet them.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">But even now, foreigners can use the program to provide Serbian residency to foreign investors.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"><span lang=\"EN-US\">Greece is a \"dark horse\". National pride will hardly allow the Greeks to launch the \"citizenship for investment\" program. But as such schemes are spreading across Europe, even the Hellenic Republic can find such a proposal, at least deserving serious consideration. Especially in light of the ratio of the state debt of the Greeks to GDP at the level of 180%. Recall that the Greeks had already launched a fairly accessible scheme for the design of residency.</span></span></span></p>','posts/passport EU.jpg','citizenship-for-investments2018-new-program-in-europe',NULL,NULL,'PUBLISHED',0,'2018-05-10 02:30:00','2021-11-25 16:57:03',42),(102,1,2,'Citizenship for investments 2018 - New program in Latin America',NULL,'Currently, there is not a single Latin American country on the world market for \"citizenship for investment\" programs. But some of them had such schemes in the past. The infamous Belize program was suspended in 2002. A similar scheme was closed in Peru in the 1990s.','<p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Currently, there is not a single Latin American country on the world market for \"citizenship for investment\" programs. But some of them had such schemes in the past. The infamous Belize program was suspended in 2002. A similar scheme was closed in Peru in the 1990s.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">As experts believe, the new program \"citizenship for investment\" is unlikely to reappear in the region in the short term. While Belize may find itself in a situation where local authorities are tempted to launch such a program, as the level of public debt remains high and continues to grow.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The same can be said about Venezuela, a country in which an extremely strong financial crisis is raging now. However, it is unlikely that the extremely unpopular current ruling regime will be able to obtain political support (democratically) in this matter and decide on such actions. In addition, the program \"citizenship for investment\" is unlikely to save the economy of a sufficiently large country with a population of 32 million people.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">But even if such schemes in the considered or other Latin American countries do not appear in the foreseeable future, you will have the opportunity to get their passport. If desired, foreigners can already start registration of citizenship on naturalization.</span></span></p>','posts/Brazil.jpg','citizenship-for-investments2018-new-program-in-latin-america',NULL,NULL,'PUBLISHED',0,'2018-05-10 03:00:00','2021-11-25 16:57:03',39),(103,1,2,'Citizenship for investments 2018 - New program in the Pacific region',NULL,'Vanuatu at this stage is the only island country in the Pacific with the program \"citizenship for investment\". And the local scheme is unique - the only one of its kind in the whole world. ','<p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Vanuatu at this stage is the only island country in the Pacific with the program \"citizenship for investment\".</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">And the local scheme is unique - the only one of its kind in the whole world. All because to issue \"citizenship for investment\" Vanuatu can be for crypto currency: bitcoins.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Other Pacific countries, Tuvalu and Tonga also used \"citizenship for investment\" programs to raise funds from abroad. But due to the different contradictions, local programs were eventually closed.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The small South Pacific country of Tonga has not yet fully recovered from the corruption scandal associated with the business of \"selling\" citizenship and passports that erupted in the 1980s.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">In Tuvalu, a similar program worked in the 90s of the last century. The candidates needed to make substantial financial investments in the host economy to participate in the scheme. The investor\'s passports issued to them did not grant citizenship but allowed the relevant persons to enter and live in Tuvalu.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Anyway, this region is still full of countries members of the British Commonwealth of Nations with excellent passports, in many respects similar to the passports of the five states of the Caribbean, where the programs \"citizenship for investments\" already operate.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">And an example of a successful Vanuatu scheme can inspire officials from neighboring countries to follow their Vanuatu colleagues in order to reap the fruits of initiative in the form of foreign investment.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">It should not be surprising if other countries in the region, such as Samoa, Tonga and Tuvalu, launch their \"citizenship for investment\" programs. These states, according to experts, are the most likely candidates for the role of new players in the world market of services for granting citizenship for investments.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Being citizens of a country with a population of only about 10 thousand people, holders of passports of the Pacific jurisdiction of Tuvalu could probably live like sheikhs, if the authorities of this state decided to launch their own program \"citizenship for investments\". It is necessary only with due care to conduct financial planning, so that inflation does not destroy a tiny economy.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Special relations with the United States, which are enjoyed by Micronesia, Palau and the Marshall Islands, practically deprive these Pacific countries of any opportunity to launch their own programs \"citizenship for investments\": Americans hardly like this. Although experts believe that this version of the development of events is completely impossible to exclude all the same. </span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"><span lang=\"EN-US\">In any case, other Pacific countries should hurry to enter the market, because Vanuatu\'s citizenship for investment program is systematically consolidating an ever-increasing market share due to the continuous improvement of financial conditions and the emergence of profitable investment options.</span></span></span></p>','posts/Vanuatu.jpg','citizenship-for-investments2018-new-program-in-the-pacific-region',NULL,NULL,'PUBLISHED',0,'2018-05-10 04:00:00','2021-11-25 16:57:01',44),(104,1,2,'Citizenship for investments 2018 - New program somewhere else',NULL,'Georgia and Armenia are two countries whose authorities are rumored to consider launching their own citizenship for investment programs. Their legislation already at this stage provides for the possibility of granting foreigners citizenship for an exceptional contribution to the development of the host state. ','<p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Georgia and Armenia are two countries whose authorities are rumored to consider launching their own citizenship for investment programs. Their legislation already at this stage provides for the possibility of granting foreigners citizenship for an exceptional contribution to the development of the host state. At the same time, Georgians also offer foreign investors also a residence.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Mauritius and Seychelles in the Indian Ocean can also be called two serious candidates, as their legislation is already very friendly to foreign investors. In addition, the laws \"On Citizenship\" of the two states already have special provisions for accelerating the naturalization of investors.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"> </span></span></p><p><strong><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Citizenship for investments 2018 - Where can the next program appear?</span></span></strong></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">So, where is the next program \"citizenship for investments\" likely to appear with a high degree of probability? In addition to Montenegro, Albania, Georgia, Mauritius, Belize, Samoa, Saint Vincent and the Grenadines, Serbia and Macedonia are the most likely candidates for the status of a country with a \"citizenship for investment\" program.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The tiny jurisdiction of Tuvalu should also appear on this list, and the likelihood of a \"citizenship for investment\" program appearing there is quite high. After all, with the help of such a scheme the country can only get rid of its state debt in one year. In fact, the smaller the country, the more benefits it can receive from the \"citizenship for investment\" program.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">In this context, countries such as Venezuela and Greece need not waste their efforts to create their own \"citizenship for investment\" programs, since such schemes will not have the same significant positive impact on their economies as in the case of microstates. Nevertheless, according to experts, the program \"citizenship for investment\" in Greece can potentially bring this country half a billion dollars a year in the form of donated donations.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The industry of services for registration of citizenship for investments largely depends on the EU and on the extent to which European officials will be tolerant of the \"citizenship for investment\" programs.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">If the official Brussels does not criticize such schemes for allegedly using facts of use by their unreliable investors, Montenegrins, as residents of the candidate country for joining the EU, and the Greeks can quickly launch them.</span></span></p><p><span lang=\"EN-US\"><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">A high level of efficiency in the conduct of due diligence can significantly help in eliminating such fears. As a consequence, citizenship for investment programs with a high level of control will begin to appear in all new countries.</span></span></p>','posts/pass.jpg','citizenship-for-investments2018-new-program-somewhere-else',NULL,NULL,'PUBLISHED',0,'2018-05-10 06:00:00','2021-11-25 16:57:00',44),(105,1,2,'Central Bank of Singapore warns crypto-investors',NULL,'The Monetary Authority of Singapore (MAS) issued a warning on the possible risks of investing in crypto-currencies.','<p><span>The Monetary Authority of Singapore (MAS) issued a warning on the possible risks of investing in crypto-currencies.</span> <span>Referring to the recent \"speculative\" escalation of prices on crypto market, MAS published a statement in which it advised the public \"to be especially cautious\" when investing in crypto-currencies such as Bitcoin.</span> <span>It was noted that the authorities \"do not regulate digital currencies\" and that crypto investors should realize that they risking for lose their invested funds.</span></p><p><span>Explaining that digital currencies <span>are</span> \"not legal tender\" in Singapore, the Monetary Authority stated: \"MAS advises investors to make decisions with extreme caution and understand the risks they incur when investing in digital currencies\".</span></p><p><span>It was also noted that there is no regulatory body <span>in Singapore</span> which, if necessary, could protect investors investing money in crypto-currencies.</span> Besides<span>, MAS reported that it is not responsible for the \"reliability and security\" of intermediaries in the crypto currency market.</span> <span>But, at the same time, \"if it turns out that the intermediary used crypto currency illegally, law enforcement agencies can stop his operations\", representatives of MAS added.</span></p><p><span>This statement follows previous warnings from MAS about the risks related to the initial offers of coins (ICO).</span> <span>The statement said: \"When consumers decide to deal with organizations that are not regulated by MAS, they consciously refuse to protect themselves, as provided by local laws\"</span>.</p><p><span>It\'s interesting that not only the Singaporean, but other financial regulators around the world, also advise investors to be cautious, investing in crypto-currencies.</span> <span>The last before this was a warning from the Central Bank of Denmark Head, Lars Rohde, made on December 19, 2017.</span> <span>He advised investors to \"stay away\" from Bitcoin and stated that investing in digital currencies is \"dangerous\".</span> <span>He compared Bitcoin to gambling: \"If you don\'t like the casino, now you have an alternative.</span> <span>Bitcoin reminds me of a tulip fever of the 17th century - a bubble coming out of control\"</span>.</p><p><span>Warnings about the risks of investing in cryptocurrency made as central banks of Russia and India.</span> <span id=\"result_box\" lang=\"en\"><span tabindex=\"-1\">In Russia, Maxim Oreshkin compared the Bitcoin quotation to the dynamics of the shares prices of the financial pyramid MMM, and the Reserve Bank of India (RBI) stated that he did not allow or license \"any companies or enterprises to work with crypto-currencies\" and warned \"holders, users</span> <span>and traders of digital currencies on financial, economic, legal and operational risks \".</span></span></p><div><h2><strong>ICO guide was issued <span>in Singapore</span></strong></h2></div><p><span>As early as mid-November 2017, before issuing the above warning, MAS issued a guide to the placement of digital tokens (ICO), through which capital is raised using crypto-currency.</span> <span>According to this guide, digital tokens, which represent the issuer\'s debt obligation, share in the capital of the corporation or a share in the collective investment scheme (CIS), are \"securities market products\".</span> <span>This means that any person who plans to place digital tokens falling under this definition must comply with the requirements of the Securities and Futures Act, including registering the prospectus in MAS.</span></p><p><span>\"Small location,\" according to</span> the guide <span id=\"result_box\" lang=\"en\"><span tabindex=\"-1\">are exempted from the need to register the prospectus.</span> <span>By them are meant:</span></span></p><ul><li><span>personal accommodation for an amount not exceeding 5 million Singapore dollars (approximately 3.68 million US dollars);</span><span id=\"result_box\" lang=\"en\"> <span>\"Personal\" means that the offer to acquire a digital token is made only to a person who has been identified in advance, and only the person to whom such an offer has been received can take it;</span></span></li><li><span>accommodation only to institutional investors;</span></li><li><span>private <span>accommodation</span> among not more than 50 persons in a period of 12 months;</span></li><li><span>accommodation</span><span> among accredited investors subject to certain conditions.</span></li></ul><p><span>The above ICO (except for <span>accommodation</span> only among institutional investors) should also be conducted taking into account some requirements, including advertising restrictions.</span></p><p><span>In addition, the requirements for combating money laundering and the financing of terrorism are also being extended to the ICO.</span> <span>For example, MAS recalled that issuers are required to report any suspicious transactions.</span> <span>In addition, it was announced plans to regulate the exchange of digital currencies for purse money under the New Payments Framework in order to exclude the use of crypto currency in money laundering and terrorist financing.</span> <span>Intermediaries engaged in trading or exchanging crypto-currency for fiat money will have to introduce procedures, policies and controls to eliminate such risks.</span> <span>For example, they will need to conduct proper verification of their customers, track transactions, perform screenings, maintain appropriate records, and report suspicious transactions.</span></p><p> <em></em></p>','posts/Singapore-monetary.jpg','sg-central-bank-warns-crypto-investors',NULL,NULL,'PUBLISHED',0,'2018-06-15 02:00:00','2021-11-25 16:55:48',190),(106,1,2,'Investments in Singapore companies. Results of 2017 and prospects for 2018',NULL,'According to the report, in the fourth quarter of 2017 the number of venture capital transactions increased by 57.2% compared to the same indicator in 2016. It is expected to increase this figure by local start-ups at regional and international level in 2018.','<p><span>According to the report, in the fourth quarter of 2017 the number of venture capital transactions increased by 57.2% compared to the same indicator in 2016.</span><span> </span><span tabindex=\"-1\" class=\"alt-edited\">It is expected to increase this figure by local start-ups at regional and international level in 2018.</span></p><p><span id=\"result_box\" lang=\"en\"><span>The explanation for the increase in the number of venture capital transactions (VC) lies in the growth of the number of young firms that in recent years have increased their initial authorized capital for business development primarily in the Singapore market, as well as to enter international markets.</span> <span>This is reported by Chia Tek Yu, head of the financial services advisory department at KPMG Singapore.</span></span></p><p> </p><div><h2><strong>Investments in Singapore companies. </strong><strong>Forecast for 2018</strong></h2></div><p><span>According to Chia Tek Yu, in 2018, these companies will seek more active funding to enter the rest of ASEAN, as well as to develop larger markets in China, Japan and the West (the United States, Great Britain and continental Europe)</span>. <span>Such forms of financing are usually larger and focused on \"access to markets and the acquisition of customers\".</span></p><p><span>According to Mr. Chia\'s expectations, in 2018:</span></p><p>1.    <span>Venture capital funds of earlier financing will be launched.</span></p><p>2.    <span>The funds will be re-grouped to focus on financing transactions of later stages</span>. <span tabindex=\"-1\">This means that investing in the later stages will not stop.</span><span> </span><span>Investors will offer larger but more secure rates for companies with proven business models and the strongest path to profitability.</span></p><p><span>In the coming quarters, inter-sectoral solutions will be a key focus of VC\'s investments around the world.</span></p><p><b></b><span>According to Mr. Chia, the use of innovative technologies (be it artificial intelligence, machine learning or blocking) in various sectors is likely to be in the center of attention of investors and their investments, regardless of any pauses among specific industries.</span> <span>Technical sector will also continue to receive the lion\'s share of the total investment.</span></p><div><h2><strong><span id=\"result_box\" lang=\"en\"><span tabindex=\"-1\" class=\"alt-edited\">Investments in companies in Singapore and worldwide.</span> <span tabindex=\"-1\">Results of 2017</span></span></strong></h2></div><p>There are<span> 17 VC deals were registered in Singapore for a total of $ 205 million (271 million Singapore dollars) in the fourth quarter of 2017</span>. <span>The growth rate for the 4th quarter 2016 was 57.2%.</span> <span>Despite the decrease in the volume of transactions by 41.1% compared to the third quarter of 2017, their value has increased by almost 40%.</span></p><p><span>In total in 2017, Singapore concluded 112 VC transactions for a total of $ 1.2 billion.</span> <span>The most productive was the second quarter of 2017 - 33 transactions amounting to 724.3 million US dollars.</span></p><p><span id=\"result_box\" lang=\"en\"><span tabindex=\"-1\">In 2017 there were 8 exits from investment projects for a total of 1.6 billion US dollars.</span> <span tabindex=\"-1\">Seven funds in aggregate attracted 732.9 million US dollars.</span></span></p><p><span>What do these figures show?</span> <span>According to Mr. Chia, they reflect a strong investment appetite and good return investments, which will continue to stimulate the growth of the Singaporean ecosystem.</span></p><p><span>In Asia, VC investments reached an annual maximum in 2017 - more than 48 billion US dollars, of which 13.9 billion US dollars accounted for China.</span> <span>Three largest deals in China:</span></p><p>1.    <span>Investments in the company for the production of electric car Nio (1 billion US dollars).</span></p><p>2.    <span>Investments in the company for the distribution of trips Didi Chuxing (4 billion US dollars).</span></p><p>3.    <span>Investments in ISP Meituan-Dianping retail services (4 billion. US dollars).</span></p><p><span>Globally, VC\'s total investment reached a ten-year high of $ 155 billion last year.</span> <span>In the first place, the US deals, which rose to a mark of 83 billion US dollars, making the year 2017 the strongest year of VC investment for the country.</span></p><p><span>It is noteworthy that the general trend in the regions last year was that, despite the higher transaction value, the volume of transactions fell sharply, as investors focused on making larger bets on fewer companies.</span></p><p><span> <br /></span></p><p style=\"text-align: center;\"> <em>If you have any questions, feel free to ask them to <strong>Castle Castle Office</strong> specialists! Write us at:</em></p><p style=\"text-align: center;\"><em> </em><span style=\"text-decoration: underline;\"><em><strong><em><span face=\"Calibri\" size=\"3\"><span lang=\"EN-US\"><span face=\"Calibri\" size=\"3\"><a href=\"mailto:info@castle-familyoffice.sg\">info@castle-familyoffice.sg</a></span></span></span></em></strong></em></span><span></span></p>','posts/Singapore1.jpg','investments-in-sg-companies',NULL,NULL,'PUBLISHED',0,'2018-06-15 02:30:00','2021-11-25 16:55:47',158),(107,1,2,'The launch of the cryptocurrency in Singapore: the experience of starting and dignity jurisdiction',NULL,'Today, the crypto-currency market is rapidly developing. Governments around the world are wary of the rise in the number of crypto currencies and digital tokens.','<p><span id=\"result_box\" lang=\"en\"><span>Today, the crypto-currency market is rapidly developing.</span> <span tabindex=\"-1\">Governments around the world are wary of the rise in the number of crypto currencies and digital tokens.</span></span> <span>Some try to regulate this market, others prohibit the registration and use of crypto-currencies, while others observe the course of events and analyze</span>. <span>Singapore has many advantages for launching crypto currency, including measures to protect investors and prevent money laundering.</span> <span>Singapore already has experience of successful business start-up in this area.</span></p><div><h2 style=\"text-align: center;\"><strong>The start-up experience for working with crypto currency in Singapore</strong></h2></div><p><span>In 2014, a couple of days before Christmas, DigixGlobal was founded by Anthony Claret Eufemio and KC Chng</span>. <span>The business is based on the use of digital marker tokens on Ethereum</span>. Ethereum <span>is a distributed computing platform with open source based on a block chain with the functionality of smart contracts</span>.</p><p>«<span>We realized that the current world of finance excludes a wide range of users who were covered and not covered by banking services</span>», — <span>the co-founder of DigixGlobal Sheng Ji said, who joined the start-up after leaving his job in the trading fund</span>.</p><p>«<span>Gold is the oldest and most stable asset in the world</span>. <span>Serving non-banking and emerging markets such as Indonesia and India, turning such markets into digital ones, would create a stable digital coin for a growing crypto-currency market that provides greater financial and social openness</span>».</p><p><span>Singapore - described by some experts as a healthy environment for crypto-conversions and Blockchain, which thrives on its high-end communications network, its reputation as a key financial center and a propensity for Fintech - is home to several launches of crypto currency</span>.</p><p><span>The list includes CoinGecko, which launched the third largest site with crypto-currency data in the world with more than 13 million monthly page views</span>. <span>Startup was registered in Singapore in April 2014</span> and <span>has its main team currently in Kuala Lumpur with remote workers in several countries</span>.</p><p>«<span>We decided to include Singapore a few years ago, because at that time there was more liquidity in the market for Bitcoin compared to Malaysia</span>», — <b></b><span>said co-founder CoinGecko Bobby Ong</span>. «<span>We are interested in Bitcoin\'s liquidity, as some of our customers pay crypto currency</span>».</p><p><span>Republic is one of the early adopters of <span>blockchain</span> technology</span>. <span>Even before the terminology for primary monetary offers (ICO) became popular, DigixGlobal already participated in ICO schemes</span>. <span>ICOs are used by start-ups to raise funds for new enterprises with crypto-currencies, but this method draws attention to the recent tightening of regulation due to fraud</span>.</p><p><span>However, not all crypto currency launches should be considered as scammers, said Chang Ong and noted that DigixGlobal builds trust by allowing customers to believe in the technology and the product that it created</span>. <span>It must have worked</span>. <span>His company has come a long way since his first client, a Dutchman who bought gold tokens from the company in January 2016</span>. <span>At the moment he has 8 000 supporters through various channels</span>.</p><p><span>DigixGlobal uses crypto currency Ethereum for business management</span>. <span>Ethereum is a block chain, the same as bitcoine, but it allows you to use smart contracts and asset tokens</span>.</p><p><span>The company on a regular basis publishes the evidence presented by the records of the entire process at every step</span>. <span>In addition, it performs due diligence of its customers to verify the legality of the funds they earned</span>.</p><p><span>According to Chang Ong, the future of the crypto-currency market is bright with tens of thousands of tokens</span>. <span>At the moment there are 1000 crypto-currencies and tokens</span>. <span>The whole of the crypto-currency market valuation reached a record level of 200 billion US dollars (273 billion Singapore dollars)</span>. <span tabindex=\"-1\" class=\"alt-edited\">This data on November 3, 2017.</span><span> </span><span tabindex=\"-1\">At the beginning of the year, the estimate was only $ 17 billion</span>.</p><p><span>According to Ong and based on data collected from his platform, most users of crypto currency are men under the age of 35</span>.</p><p><span>The crypto-currency market is global, and the platform serves not only users from English-speaking countries, but also from Germany, Japan, South Korea and Russia</span>.</p><p>«<span>We see such a future market: ICO will be regulated, which is especially useful for tokens, and there will be many other tokens created for many other uses</span>», — Mr. <span>Ong said</span>.</p><p><span>This year, there is growing interest in crypto-conversion - especially Bitcoin and Efirium - because of the huge revenues that they showed, Mr. Ong noted</span>. <span>Bitcoin, which cost 1 US dollar on January 1, soared to a record high on Friday (November 3, 2017) at $ 7.445</span>. <span>The growth occurred after the CME Group, the world\'s largest owner of the stock exchange, announced plans to introduce bitcoin futures by the end of the year.</span></p><p><span>But as in all trading operations, there are still risks, Mr. Ong warned</span>. <span>They include purse security, price volatility and the potential risk for scams</span>. <span>He suggested that users need to take control <span>under their</span> coins and \"did not recommend\" to store them in exchangers</span>. <span>This is due to the fact that the stock exchange is very prone to cracking, which can lead to a complete loss of coins.</span></p><p><span>Another prime example is the company TenX, working in the ICO offer in Singapore</span>. <span>The startup collected $ 80 million in June this year</span>. <span>Investors are offered a debit card that allows instantly convert several types of digital currencies into cash, including dollars, yen and euro</span>.</p><div><h2><strong>Midshore Singapore will not regulate cryptoconversion</strong></h2></div><p><span>According to the Central Bank of Singapore <span>official</span>, there is no plan to regulate crypto-conversions (for example, bitcoin), but the bank will be considerate of money laundering and other potential risks associated with their use</span>.</p><p>«<span>At the moment I see no reason to regulate crypto-currencies</span>», — <span>said in an interview managing director of the Monetary Authority of Singapore Ravi Menon</span>. <span>The Central Bank intends to \"look at the actions associated with the crypto currency, and ask themselves what risks they represent, what risks will require a regulatory response</span>», — he added.</p><p><span>The use of Bitcoin and the dissemination of other digital assets attracts cautious views of regulators around the world.</span> <span>Although many central banks still refrain from controlling the Crypto-currency, China and South Korea have banned the offering of the original ICO coins, and Russian President Vladimir Putin called for sector regulation</span>.</p><p>«Just a f<span>ew jurisdictions regulate crypto-currencies</span>. <span>Most hold the view that the currency itself doesn\'t create a risk that requires regulation</span>», — Mr. Menon said. <span>However, he said that the crypto-conversion is often used for the purpose of illegal financing</span>. <span>And the country is fighting against money laundering, measures are being taken to counter the financing of terrorism</span>. <span>However, this affects the activity around the crypto currency and not the crypto currency itself</span>.</p><div><h2><strong>Midshore Singapore is ahead of the curve</strong></h2></div><p><span>In every field of business scandals periodically erupt. The world of digital currency is no exception</span>. Mt.<span>Gox - the largest Tokyo currency currency exchange in the world <span>filed</span> for bankruptcy<span> in 2014</span> after it lost 850 thousand bitcoins worth about $ 500 million</span>. <span>Another big scandal occurred in New York City</span>. <span>The young man and his company were lured into a fraudulent scheme with promises of investing the funds received into bitcoins with about 80 people</span>.</p><p><span>In order to avoid scandals on the territory of Singapore, the government already now requires crypto-currency intermediaries and exchange service operators to comply with anti-money laundering legislation and the financing of terrorism</span>. <span>According to the representative of the Monetary Authority, this will be formalized in the regulation of the forthcoming payment services</span>.</p><p><span>If the ICO includes a promise to receive dividends or other economic benefits, they may resemble regular offers of securities and, therefore, will be governed by the Singapore Securities and Futures Act</span>. <span>Other business models \"avoid such security functions in their digital tokens\"</span>.</p><p><span>Therefore, the Monetary Authority of Singapore simply observes each individual case to see which of them will need to be introduced into the regulatory framework and which of them may not be regulated</span>.</p>','posts/crypto_sg.jpg','launch-of-the-crypto-currency-in-sg',NULL,NULL,'PUBLISHED',0,'2018-06-15 06:00:00','2021-11-25 16:55:46',178),(108,1,2,'Forbes: FIFA underestimates Russia\'s chances in the 2018 World Cup',NULL,'FIFA rating, according to which the Russian national team is the weakest 2018 World Cup team is full of shortcomings and doesn\'t reflect reality, writes Forbes journalist Stephen Price. He notes that, according to another system of ranking national teams, the Russian team is superior to its rivals in the group - Saudi Arabia and Egypt.','<p><strong>FIFA rating, according to which the Russian national team is the weakest 2018 World Cup team is full of shortcomings and doesn\'t reflect reality, writes Forbes journalist Stephen Price</strong><b>. <span>He notes that, according to another system of ranking national teams, the Russian team is superior to its rivals in the group - Saudi Arabia and Egypt</span>.</b></p><p><span>According to FIFA rankings, Russian national football team is the weakest team, participating in the 2018 World Cup</span>. <span>Nevertheless, FIFA rating has many shortcomings and it doesn\'t reflect the real state of affairs, <span>Stephen Price</span> writes in his article in Forbes</span>.<br /> <br /><span>FIFA rating is calculated from the formula by which the national team receives less points for friendly games, which thus become less attractive for teams</span>. <span>At the same time the national team who host the World Cup will automatically become a participant of the tournament and didn\'t take part in qualifying matches</span>.<br /> <br /><span>This has a negative effect on the rating of the team and (in the opinion of the author) allows to say that the rating of FIFA underestimates the Russian national team, putting it on the 70th place, that is below the rest of the teams in Group A</span>.<br /> <br /><span>The author of the article notes that according to another system of ranking national teams Elo, the Russian national team is the 27th among the best teams of the tournament and the 44th in the rating of the world\'s strongest teams</span>. <span>Despite the fact that the result is also disappointing, Saudi Arabia and Egypt are rivals of Russia in Group A, are located in this rating below</span>. <span>Moreover, according to Elo rating, the teams of these countries are the weakest teams of the tournament in 2018.</span><br /> <br /><span>In addition, the Transfermarkt site rating completely gives Russia 18th place among the most expensive teams with the combined value of all players of the national team at $ 195 million</span>. <span>This allows Russia to be on the third place in the group right after Egypt</span>. <span>The total cost of the Egyptian national team players is $ 238 million</span>.<span>At the same time, $ 180 million of this amount falls on Mohammed Salah</span>.<br /> <br /><span>According to the journalist, these statistics, along with the advantage of playing at home gives Russia <em>\"an excellent opportunity\"</em> to leave the group</span>. <span>At the same time FIFA ranking can be misleading not only about the potential of the Russian team, the author</span>. <span>So, FIFA underestimates the national teams of Spain, South Korea, England and a number of other countries, while overestimating the commands of a number of states such as Tunisia and Belgium</span>.</p><p> <br /><span>Despite the fact that the ratings of Elo and Transfermarkt can\'t predict the outcome of the tournament, they are more true than the FIFA rating, Price writes in his article in Forbes.</span> </p><p> </p><p> </p><p><span>According to the source:</span> <strong><a href=\"https://russian.rt.com/inotv/2018-06-10/Forbes-FIFA-nedoocenivaet-shansi-Rossii\">Russian.RT.com</a></strong></p>','posts/6fb20c03.jpg','forbes-fifa-underestimates-russia-in-wc2018',NULL,NULL,'PUBLISHED',0,'2018-06-18 02:00:00','2021-11-25 16:55:44',192),(109,1,2,'FIFA will earn a record $ 6.1 billion during World Championships in Russia',NULL,'The total economic impact of the football championship for Russia in the period since 2013 is estimated at 867 billion rubles in 2018. Costs for the championship amounted to $ 13.2 billion.','<p><span>The total economic impact of the football championship for Russia in the period since 2013 is estimated at 867 billion rubles in 2018</span><span><span style=\"font-size: medium;\" size=\"3\">. <span>Costs for the championship amounted to $ 13.2 billion</span>.</span></span></p><p><span>FIFA will earn at the World Cup, which starts in Russia on June 14, a record $ 6.1 billion. <span>FIFA\'s revenue from the 2018 World Cup will be 10% higher than planned, and $ 1.3 billion more than the organization earned from the four-year-old football championship in Brazil, The New York Times reported, citing FIFA financial documents</span></span><span><span style=\"font-size: medium;\" size=\"3\">.</span></span></p><p><span>FIFA earned $ 4.8 billion</span> at <span>the World Cup in Brazil in 2014</span><span><span style=\"font-size: medium;\" size=\"3\">. <span>Four years earlier - in South Africa for 2010 World Cup - the organization revenues totaled $ 3.9 billion.</span></span></span></p><p><span>Russia\'s spending on hosting the 2018 World Cup is estimated at $ 13.2 billion</span><span><span style=\"font-size: medium;\" size=\"3\">. <span>The Russian government estimates the total economic effect from the 2018 World Cup in the period from 2013 to 2018 at 867 billion rubles (1% of annual GDP)</span>.</span></span></p><p><span>From financial documents of FIFA follows that the revenue of the organization from the sale of television rights was 2% higher than the amount of $ 3 billion, which counted the sports officials</span><span><span style=\"font-size: medium;\" size=\"3\">. <span>This is an additional $ 60 million</span>. <span>The revenues from sponsorship contracts were $ 200 million more</span>. <span>Twenty largest sponsors of the tournament paid $ 1.65 billion for contracts, instead of the projected $ 1.45 billion</span>. <span>Fees increased by 233%, received by FIFA from the creator of computer games EA Sports for the football simulator FIFA 18</span>. <b></b><span>In 2017, the company paid $ 160 million to the organization</span>.</span></span></p><p><span>The growth of revenues from sponsorship contracts was caused by the invasion of Chinese companies - seven of them were among the 20 sponsors of the 2018 World Cup (at the World Cup in 2014, there was only one Chinese sponsor among the sponsors)</span><span><span style=\"font-size: medium;\" size=\"3\">. <span>The edition reminds that in 2015, Chinese President Xi Jinping demanded to develop the economy of sports in the country with special emphasis on football.</span> <span>In addition, Chinese companies have come to the place of Western companies that are afraid to conduct business with FIFA amid an anti-corruption investigation initiated by the US Department of Justice against former head of the organization Josef Blatter and a number of his associates in 2015</span>. <span>Since 2011, FIFA hasn\'t signed any contract <span id=\"result_box\" lang=\"en\"><span tabindex=\"-1\">with any new sponsor from among the large Western companies.</span></span></span></span></span></p><p><span>FIFA plans to present its financial performance to its 211 members the day before the opening of the 2018 World Cup in Russia - on Wednesday, June 13.</span><span><span style=\"font-size: medium;\" size=\"3\"> <span>The organization estimates its profits for a four-year period ending after the end of the championship in Russia, at just over $ 100 million.</span> <span>For the first three years after the championship in Brazil, FIFA lost $ 997 million.</span> <span>This is due to legal costs caused by conducted in the United States anti-corruption investigation against FIFA and costly internal investigation that followed the the accusations against the organization</span>. <span>As well as the introduction of new, more modernized accounting system</span>. <span>And a significant increase in grants for FIFA member countries</span>. <span>For two years, the organization is headed by Gianni Infantino, they were allocated $ 775 million (for the four years preceding the World Cup in Brazil in 2014, Sepp Blatter provided grants totaling $ 1.1 billion).</span></span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"> </span></p><h2><strong><span style=\"font-family: Times New Roman; font-size: xx-large;\" face=\"Times New Roman\" size=\"6\"><span>Russia\'s incomes from the 2018 World Cup</span></span></strong></h2><p><span>Russia\'s spending on hosting the 2018 World Cup is estimated at $ 13.2 billion</span><span><span style=\"font-size: medium;\" size=\"3\">. <span>The Russian government estimates the total economic effect from the 2018 World Cup in the period from 2013 to 2018 at 867 billion rubles, which is equivalent to 1% of annual GDP.</span></span></span></p><p><span>Previous host country of the World Cup - Brazil, has increased its GDP due to the event at 0.55%.</span></p><p><span>Analysts of the international rating agency Moody\'s Investors Service believe that Russia\'s economic benefit from the FIFA World Cup 2018 will be simultaneous and will be insignificant in comparison with the overall size of the Russian economy.</span></p><p><span><span style=\"font-size: medium;\" size=\"3\">«<span>A significant part of the economic consequences are already felt at the <span>investments</span> expense in infrastructure, but even in this part the effect is limited. <span>Investments in the World Cup 2018 for the period from 2013 to 2017 amounted to only 1% of total investment</span></span>», — <span>says in report </span>«<span>Russia: WC-2018 will have a variable short-term effect for issuers with the highest rating</span>», <span>published two weeks before the start of the championship</span>.</span></span></p><p><span><span style=\"font-size: medium;\" size=\"3\">«<span>Games will last only a month, and related economic incentives fade against the backdrop of the size of the Russian economy at $ 1.3 trillion</span>», — <span>explained the senior vice president and analyst at Moody\'s Christine Lindou</span>. <span>She stressed that the agency doesn\'t expect that the 2018 World Cup will make a significant contribution to Russia\'s economic growth.</span></span></span></p><p><span>The Football World Cup will be held in Russia for the first time from June 14 to July 15, 2018</span><span>. <span>Matches will be held at 12 stadiums in 11 cities including Moscow, St. Petersburg, Volgograd, Yekaterinburg, Kazan, Kaliningrad, Nizhny Novgorod, Rostov-on-Don, Samara, Saransk and Sochi.</span></span></p><p> </p><p> </p><p><span>According to the source</span>: <strong><a href=\"http://www.forbes.ru/biznes/362985-fifa-zarabotaet-na-chempionate-mira-v-rossii-rekordnye-61-mlrd\">Forbes.ru</a></strong></p>','posts/rus-fifa.jpg','fifa-will-earn-6billion-at-wc-in-russia',NULL,NULL,'PUBLISHED',0,'2018-06-18 03:00:00','2021-11-25 16:55:44',183),(110,1,2,'Opportunities for Intellectual Property Protection in Singapore',NULL,'Registration and acquisition of intellectual property is becoming an increasingly important part of doing business in Singapore and in the world economy. The main purpose of registration of intellectual property is the confidence that you as an owner have the exclusive right to use, license or sell your product.The duration of copyright protection is a certain period. For literary, dramatic, musical and artistic works of this period can be 70 years after the author\'s death, for the broadcast and cable programs - 50 years since the last release of the transmission.','<p><span>Registration and acquisition of intellectual property is becoming an increasingly important part of doing business in Singapore and in the world economy. <span>The main purpose of registration of intellectual property is the confidence that you as an owner have the exclusive right to use, license or sell your product. <span>This also protects the owner legally and will not allow the use of the idea of the product without permission or without any financial compensation</span></span></span><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">.<span style=\"font-family: Helvetica;\" face=\"Helvetica\"></span></span></p><p><span>If you thought about running your business in Singapore and protecting your intellectual property here, we can say that the process of registering intellectual property in this country is becoming increasingly simple, thanks to the efforts of the Intellectual Property Office of Singapore (IPOS</span><span>) and thanks to the approval of the IP Hub Master Plan - this plan aims to make Singapore the center of intellectual property in Asia</span><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">.</span></p><p><span>There are different types of intellectual property, and also various types of protection and registration in Singapore. <span>The types of intellectual property protection include patents, trademarks, copyrights, registered designs and commercial secrets.</span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"> </span></p><h2><b><span>Patents in Singapore</span></b></h2><p><span>Patents are used to protect intellectual property of a technical nature. <span>For example, it could be new pharmaceuticals, gadgets, household appliances and even newly developed materials. <span>Nevertheless, it is important to remember that patents are more focused on <em>\"how\"</em> the <span style=\"text-decoration: underline;\">final result</span> will be achieve, no matter how it\'s achieved. <span>You can\'t patent a \"hair straightening device\", but you can patent the technology of using heated tongs to achieve these results.</span></span></span></span></p><p><span tabindex=\"-1\" class=\"alt-edited\">In Singapore Patents are granted a limited monopoly.</span><span> </span><span tabindex=\"-1\">If the application for a patent is approved, the patent will be issued for 20 years.</span><span> </span><span tabindex=\"-1\">The applicant will also need to submit the specifications of the drawings, which will be published and made available to the general public.</span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"> </span></p><h2><b><span>Industrial registered sample</span></b></h2><p><span><span>Singapore uses registered samples</span> to protect the appearance of the product without taking into account the functions and mechanism of operation. <span>If the company has released a new phone, it will need a patent to protect new technologies, such as new types of sensors and a registered sample to protect the external design of the phone, to avoid making copies with cheaper specifications. <span>Registered pattern provides intellectual property protection after the first \"industrial reconciliation\" design, in which it was issued no less than 50 copies of the product for sale.</span></span></span><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"></span></p><p><span><span><span> <br /></span></span></span></p><h2><b><span>Copyright in Singapore</span></b></h2><p><span id=\"result_box\" lang=\"en\"><span tabindex=\"-1\" class=\"alt-edited\">Copyright protects literary, musical, visual, artistic and executive work.</span> <span tabindex=\"-1\" class=\"alt-edited\">This form of intellectual property protection in Singapore can be used for useful products that can not be protected by a patent or registered design.</span></span></p><p><span id=\"result_box\" lang=\"en\"><span>The duration of copyright protection is a certain period.</span> <span tabindex=\"-1\" class=\"alt-edited\">For literary, dramatic, musical and artistic works of this period can be 70 years after the author\'s death, for the broadcast and cable programs - 50 years since the last release of the transmission.</span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"> </span></p><h2><b><span>Commercial secret in Singapore</span></b></h2><p><span tabindex=\"-1\">Confidential information and technical know-how are treated in Singapore as a commercial secret and are primarily protected by reputation, goodwill and common law.</span><span> </span><span>However, in Singapore there is no registration procedure, no legislation on this type of intellectual property.</span><span> </span><span>In such cases, the use of nondisclosure agreements is recommended, along with common best practice - for example, limiting the number of people who own confidential information.</span></p><h2><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"> </span></h2><h2><strong><span>Trademarks in Singapore</span></strong></h2><p><span>Trademarks protect brand names, logos or phrases and clichés used for <span>company</span>\'s marketing purposes. <span>For example, a trade mark is used in the Microsoft brand name, character Spider-Man and Nike logo.</span> <span>Trademarks prevent the use of distinguishing features of some companies by other companies.</span></span></p><p><span>In Singapore, the right to a trademark is unlimited, as long as the company or an individual uses this mark in the conduct of business.</span></p><p><span id=\"result_box\" lang=\"en\"><span tabindex=\"-1\">Unregistered trademarks can also be protected in Singapore if the company has become widely known for using its name and has achieved a clear association of the mark with the company.</span> <span>Of course, there are restrictions that can and can not be used as a trademark, and the Consumer Protection Act protects against the misuse of trademarks and trade marks in Singapore.</span></span></p><p><span id=\"result_box\" lang=\"en\"><span>As you know, intellectual property is an important asset for every company, and it allows you to acquire your uniqueness among other representatives of the industry.</span> <span tabindex=\"-1\">Also, intellectual protection offers you new opportunities in Singapore and beyond.</span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"> <br /></span></p><p style=\"text-align: center;\"><span>You can ask a question about patent registration in Singapore to <strong>Castle Family Office </strong><em><span>specialists! <span>Write us via</span></span></em></span><em><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"> <strong><span face=\"Calibri\" size=\"3\"><span lang=\"EN-US\"><span face=\"Calibri\" size=\"3\"><a href=\"mailto:info@castle-familyoffice.sg\">info@castle-familyoffice.sg</a></span></span></span></strong> </span></em></p>','posts/singa.jpg','opportunities-for-intellectual-property-protection-in-sg',NULL,NULL,'PUBLISHED',0,'2018-06-19 02:00:00','2021-11-25 16:55:42',156),(111,1,2,'Beneficiaries from the opening up of North Korea',NULL,'The Trump-Kim Summit at Singapore on 12 June was a historic meeting between the leaders of these countries. Both countries signal their desire to establish peace and prosperity in the Korean Peninsula. ','<p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The Trump-Kim Summit at Singapore on 12 June was a historic meeting between the leaders of these countries. Both countries signal their desire to establish peace and prosperity in the Korean Peninsula. </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">A key attraction for North Korea leader Kim Jung Un is the promise by the US to rebuild North Korea’s economy if nuclear weapons are surrendered. Previously, a top concern is the Libyan model where Libya was thrown into disarray after its leader Gaddafi agree to disarm the country’s nuclear weapons. </span></p><p><span style=\"font-family: Calibri;\" face=\"Calibri\"><span style=\"font-size: medium;\" size=\"3\">These concerns have been allayed by US President Trump. He presented a video to Kim during the Singapore Summit. The video mimics the style of a movie trailer, persuading Kim to be a “hero” and choose skyscrapers overs warplanes. The video is an effective medium to transcend language barrier and convey the message of prosperity. In addition, President Trump has even agreed to halt the war games with South Korea as a sign of good faith.  </span></span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"></span><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">North Korea is currently the poorest country in Asia. On the other hand, South Korea is amongst the wealthiest nation in the world. In the past, the economic disparity between both countries does not bear a semblance to the current situation. </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">Prior to the 1970s, North Korea was a much wealthier nation than South Korea. However, a great famine in the 1990s resulted in great starvation and death to the nation. The fall of Soviet Union in 1991 further exacerbate the situation. Aid and trade concessions from Soviet Union stop flowing to North Korea. This resulted in a downward spiral in the economy. </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"></span><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The Singapore Summit marks an important first step in the normalisation of relationships between the US and North Korea. The next milestone could be the removal of sanctions from the US. Should both countries take concrete steps towards peace, North Korea could recover and embark on a path of strong economic growth. </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">The opening up of North Korea could result in long-term benefits for companies that are engaged in her economic development. Key beneficiaries include South Korean companies in the construction, steel, machinery and logistics sector. </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\"> </span></p><p><span style=\"font-family: Calibri; font-size: medium;\" face=\"Calibri\" size=\"3\">We highlight some of the companies below: </span></p><ul><li><span style=\"font-size: medium;\" size=\"3\"></span><span style=\"font-family: Calibri;\" face=\"Calibri\"><span style=\"font-size: medium;\" size=\"3\"><b>Hyundai E&amp;C (000720 KS)</b> – Construction company in South Korea with past project experience in North Korea</span></span></li><li><span style=\"font-size: medium;\" size=\"3\"></span><span style=\"font-family: Calibri;\" face=\"Calibri\"><span style=\"font-size: medium;\" size=\"3\"><b>Doosan Infracore (000720 KS)</b> – Construction machinery manufacturer in South Korea</span></span></li><li><span style=\"font-size: medium;\" size=\"3\"></span><span style=\"font-family: Calibri;\" face=\"Calibri\"><span style=\"font-size: medium;\" size=\"3\"><b>POSCO (005490 KS</b>) – Largest steel company in South Korea</span></span></li><li><span style=\"font-size: medium;\" size=\"3\"></span><span style=\"font-family: Calibri;\" face=\"Calibri\"><span style=\"font-size: medium;\" size=\"3\"><b>Hyundai Steel (004020 KS)</b> – Steel company with large exposure to long steel which is used for construction </span></span></li><li><span style=\"font-family: Calibri;\" face=\"Calibri\"><span style=\"font-size: medium;\" size=\"3\"><strong>CJ Logistics (000120 KS)</strong> <span>– <span>Leading logistics company in South Korea</span></span></span></span> </li></ul><p> </p><p><b>Edmund Chan, CFA</b></p>','posts/edmundch.jpg','beneficiaries-from-the-opening-up-of-north-korea',NULL,NULL,'PUBLISHED',0,'2018-06-19 02:15:00','2021-11-25 16:55:42',142),(112,1,2,'Football passions on the scientific field',NULL,'Sports and science - are incompatible? Participants in the world\'s first Science Slam Football do not agree with this. How the psychology of fans works, how many unsuccessful strokes Messi has and how robots play football, will help to learn the German-Russian forum in St. Petersburg.','<p style=\"text-align: center;\"> <strong>Sports and science - are incompatible? <span>Participants in the world\'s first Science Slam Football do not agree with this.</span> <span>How the psychology of fans works, how many unsuccessful strokes Messi has and how robots play football, will help to learn the German-Russian forum in St. Petersburg</span>. </strong></p><p>  <span>Searchlights</span> <span>neon beams with green hares scatter on the white field of epic walls, blind your eyes and immediately turn a look at the athletes, fans, reputable blue suits and the most popular, perhaps, sport - football. <span>The atmosphere is impregnated with intelligence, active moving, Russian-German friendship and hops - the best in the <span>football</span> culture can be found here.</span>  <span>From the columns comes a motive from \"Battle Without Honor or Humanity\" - the famous <span>\"Kill Bill\"</span> soundtrack - and foretells something pretentious, vigorous, exceptionally atmospheric and fascinating.</span></span>  </p><p>  <span>The same was at the first in the world Science Slam Football, held May 5 in St. Petersburg in the mansion of the once existing society of German artisans</span>. <span>Three Russian and three German young scientists met on that evening in an equal fight and proved to everyone that the tandem of science and football is not only possible but also useful <span id=\"result_box\" lang=\"en\"><span>in such industries as sport, creativity and finance</span></span></span>.</p><p>  <span>Within 10 minutes each of the Slam participants told the discerning viewer about their scientific or professional interests, following the <span>chip</span>-rules of any slam: the <span>presentation</span> availability, the fascination and topicality of the information being presented</span>. <span>Inna Zaitseva, Junior Researcher at the Higher School of Economics, told how the national culture influences on the national teams <span>performance</span>, based on the example of the Netherlands team, who didn\'t qualify for the 2018 World Cup. \"</span><span>Consequently, the players of the Russian national football team are extremely important to our trust and support\", - she concluded.</span></p><p>  H<span>ere is <span>Stefan Schwan</span> - the psychology professor from Frankfurt-am-Main.</span> <span>The fan of \"Stuttgart\", after another dispute with his daughter - for an unhappy accident, a fan of Dortmund \"Borussia\" - asked himself: \"Do fans of different teams see the same game equally?\"</span> <span>With the help of tracking technology, he compared with his colleagues how <span>\"Bavaria\" and \"Borussia\"</span> fans watched the final of the Champions League in 2013.</span> <span id=\"result_box\" lang=\"en\"><span>As a result, he came to the conclusion that during the game the attention of both fan camps is distributed almost equally, but emotions and feelings experienced by them at the end of the match affect the evaluation of the memory of certain moments only after a time, and the fans of the losing team from negative</span> <span>emotions is deformed in <span>memory</span> and they can no longer objectively assess individual moments.</span></span></p><p>  <span>The head of the scientific department and education department of InStat Ilya Vagin on the contrary puts an objective assessment of the game above emotions and feelings, <span>because the sports <span>clubs</span> directors, coaches and scouts are guided by the personal statistics of the players. <span>The number of kilometers on the field and the effectiveness of passes - about the players now you can get any information - from unsuccessful strokes of superstar Lionel Messi to goals in the top nine.</span></span></span></p><p>  <span>Scientific interests of <span>Zina Dietzel</span> - student of computer science <span>department</span> from the <span>Goethe</span> University</span><span> in Frankfurt , perhaps, something like the burden with Russian coach.</span> <span>She teaches nanorobots to play football: orientate on the field, find the ball, give the transfer and even foul if necessary.</span> <span>\"Pensioner\" Karlheinz - a charming nanorobot - boasted of his successes in front of the audience</span>. <span>Perhaps, in his handling of the ball there is something to learn even professional football players.</span></p><p>  <span>Urban geographer, employee of Habidatum - Ruslan Dokhov showed how today the most complicated logistics tasks are being solved, from unloading roads after matches to the expediency of placing drinking establishments at stadiums.</span> <span>A bright urban or district team can become a strong converging factor for city residents, but studies show that not always the area around the stadiums turns into a football district.</span> <span>This, for example, is typical for the newly built Zenit-Arena.</span></p><p>  <span>Perhaps, especially brightly made this evening Søren Wrede - junior coach and master student of the German University of Sport in Cologne, - one of the best sports schools in Germany.</span> <span>He described how modern football simulators - footballouts - help young football players develop the reaction, so necessary in high-speed sports.</span> <span>The speed of the reaction Søren proposed to believe the hall, throwing the ball into it after a clever dribbling.</span> <span>This Søren obviously owns not only football equipment, but also means of seducing the public - it was he who was eventually chosen as the hero of the evening.</span></p><p>  <span>So the main prize - the boxing gloves of the winner - left this time for the German team.</span> <span>A little later, they added a white fan scarf with the flags of the participating countries.</span> <span>A hint at the Russian-German World Cup final?</span> <span>Or a symbol of Russian-German friendship where sports unite?</span> <span>The first Russian-German Science Slam took place in football, now it\'s a small thing.</span></p><p> </p><p> </p><p>Source: <strong><a href=\"https://regnum.ru/news/sport/2412811.html\">REGNUM.ru</a></strong></p>','posts/football.jpg','football-passions-on-the-scientific-field',NULL,NULL,'PUBLISHED',0,'2018-06-20 02:00:00','2021-11-25 17:44:40',161),(113,1,2,'Labor immigration to Singapore',NULL,'Immigration to Singapore is attractive for specialists from different countries due to the growing economy, high standard of living and stable political system. To date, one third of the jurisdiction population are foreigners working in different spheres of the state economy. Recently, the tendency to increase wages and maintain a low unemployment level, a high productivity level and social guarantees attract more and more foreign specialists to Singapore.','<p><span>Immigration to Singapore is attractive for specialists from different countries due to the growing economy, high standard of living and stable political system.</span> <span>To date, one third of the <span>jurisdiction</span> population are foreigners working in different spheres of the state economy.</span> <span>Recently, the tendency to increase wages and maintain a low <span>unemployment</span> level, a high <span>productivity</span> level and social guarantees attract more and more foreign specialists to Singapore.</span></p><h2><strong>WORK ADVANTAGES IN SINGAPORE</strong></h2><p><span>Yes, to work in Singapore you need to get a work permit, and after moving to the country to comply with the rules and laws.</span> <span>However labor immigration to Singapore has many advantages.</span><br /><span>One of the main advantages is the equality for local and foreign workers.</span> <span>In other words, all workers are protected by labor and criminal legislation in equal measure.</span> <span>Employers who ill-treat foreign workers or exceed their job duties will be severely punished.</span> <span>The Singapore Ministry of Manpower imposes special conditions on employers in the framework of issuing a work permit to protect foreign workers and ensure their well-being.</span> <span>First, the employer is responsible and bears the costs of technical and medical services.</span> <span>Secondly, it\'s obliged to ensure safe working conditions.</span> <span>Thirdly, the employer does not have the right to demand and receive payment from a foreign employee in cash or in other words as compensation for the reception of this employee for work.</span> <span>Also, he doesnэt have the right to demand payment of expenses related to the employment of a foreign employee.</span><br /><span>If the contract is terminated prematurely, the Singapore Employment Agency reimburses at least 50% of the agency fee collected from the foreign employee.</span><br /><span>The third advantage is an invaluable experience.</span> <span>At first the foreign worker will be confused.</span> <span>However, by adapting to Singapore he will have a unique chance to gain experience working with people from different countries, working in an international business center, to do if he wants to one of the universities of the country, or to improve his qualifications.</span></p><h2><strong>What areas of the economy needs foreign workers?</strong></h2><p><span>Foreign workers work in all sectors of the country, especially in the construction sector and marine services.</span> <span>In addition, foreigners can work in such areas as:</span><br />• <span>wholesale,</span><br />• <span>professional services,</span><br />• IT,<br />• <span>electronics,</span><br />• <span>transportation and storage,</span><br />• <span>food and beverages,</span><br />• <span>tourism,</span><br />• <span>administrative and support services,</span><br />• <span>manufacture of machinery,</span><br />• <span>processing of minerals,</span><br />• <span>the science,</span><br />• <span>chemical and pharmaceutical products.</span></p><p><span>As of June 2015 there are 1,368,200 foreign workers in Singapore.</span> <span>However, due to the policy of the state to curb the influx of foreign labour, the growth rate of the number of foreign specialists has significantly decreased.</span></p><h2><strong>HOW TO FIND JOB FOR IMMIGRATE IN SINGAPORE</strong></h2><p><span>As in any other country in the world where information technology is developed, the Internet is the main place to find work.</span> <span>The most popular resources in Singapore are the portals</span> JobsCentral.com and monster.com. <span>There are other less popular sites with up-to-date information about vacancies.</span> <span>However, only these resources help their visitors create a resume, thereby increasing the chances of getting a job.</span> <span>Jobs in government organizations are published on the resource.</span> <span>Also you can see the sites of major companies in Singapore, as many of them publish information about free vacancies on their sites.</span><br /><span>Fans of paper carriers can look for work through newspapers.</span> <b></b><span>The main source of such information in English is the Straits Times.</span> <span>This edition also has a website where similar information is published, but you need to subscribe to view ads. <span>Another way is an annual vacancy fair, organized by the Singapore Professional Center.</span></span></p><h2><strong>Singapore Employment VISAS<span face=\"Calibri\" size=\"3\"><br /></span></strong></h2><p><span>In Singapore, there are four types of <span>Employment</span> visas that a foreign worker can obtain.</span></p><p><span face=\"Calibri\"><span size=\"3\"><span>First type is </span><em><strong>Employment Pass</strong></em> (EP). <span>It\'s the most common type of work visa in Singapore.</span> <span>Can be used by individual entrepreneurs or foreign workers planning to work in the jurisdiction.</span> <span>Among the main requirements are higher education and wages, the amount of which is not less than the minimum size established by the Ministry of Manpower.</span> <span>The visa period is from 1 to 2 years, after which if the place of work remains the same, you need to extend the EP or if you find a new job, get a new visa.</span> <span>Worker permit holders can subsequently apply for permanent resident status.</span></span></span></p><p><span face=\"Calibri\"><span size=\"3\"><span>Second is </span><em><strong>Entrepreneur Pass</strong></em> (EntrePass). <span>If you are the owner of a new company or plan to transfer your company to Singapore, then you need to get this kind of visa.</span> <span>The minimum period of validity is 1-2 years, and the maximum period depends directly on the success of the applicant company.</span> <span>In other words, it\'s possible to extend the visa only when proving the viability of the business.</span> <span>Entrepreneur\'s pass holders can subsequently apply for permanent resident status.</span></span></span></p><p><span face=\"Calibri\"><span size=\"3\"><em><strong>S Pass</strong></em> is t<span>he third</span> type. <b></b><span>This type of visa can be obtained by foreign workers with an average level of skills - they can be people without higher education, but with a technical diploma. <span>The main condition for obtaining a work permit is that wages should not be lower than the threshold set by the Singapore Ministry of Manpower.</span></span> <span>The validity period is from 1 to 2 years with the right to extend, subject to continuing work at the same place of work.</span> <span>With stable employment and residence in the country for more than 4 years, the holder of the S pass can apply for permanent resident status.</span></span></span></p><p><span>The fourth</span> type is<span face=\"Calibri\"><span size=\"3\"><em><strong> Personalised Employment Pass</strong></em> (PEP). <span>This type of visa has a number of advantages, but it can only be obtained by those who satisfy the most severe conditions, namely highly qualified, highly paid specialists.</span> <span>There are no restrictions on the type of work, you can move from one company to another without obtaining a new visa.</span> <span>Validity period up to 5 years without the right of extension.</span></span></span></p><p><span>To obtain a visa, you need to prepare a number of documents, including passport, fresh passport-size photographs, visa application form, document on fees payment, diploma for graduation from higher and / or secondary vocational education, qualifications (if any), labor contract.</span></p><h2><strong>The hiring process IN SINGAPORE</strong><b><span face=\"Calibri\" size=\"3\"><br /></span></b></h2><p><span>Labour emigration to Singapore is possible only upon obtaining a work permit, and it can be obtained after concluding an agreement with the employer.</span><span face=\"Calibri\" size=\"3\"> <span>Having found a suitable vacancy in one of the ways described earlier, you need to submit your biography or resume, where the employee indicates all the important details relevant to the vacancy.</span> <b></b><span>The document should be prepared professionally, following the chronology, since most Singapore employers prefer to study the resume in this way, that is, from the first job to the last.</span> <span>It is recommended to attach a passport-sized photo.</span></span></p><p><span>The process of hiring may vary from company to company.</span><span face=\"Calibri\" size=\"3\"> <span>Some require a resume, some online application prepared in accordance with their recommendations.</span> <span>However, regardless of the application form, it will be considered as soon as possible.</span> <span>Also, most companies may require an interview.</span> <span>Foreigners pass it by phone, and then personally or through a video conference, but in the following case the employer reserves the right to refuse a personal interview.</span></span></p><p><span>English is the main language of business and can be used to compile a resume and communicate with the employer</span><span face=\"Calibri\" size=\"3\">. <span>Chinese dialects are widely used, so their knowledge is only welcomed</span>. <span>Knowledge of two or more languages is also welcome.</span> <span>Do not forget to include this information in your resume.</span></span></p><h2><strong>CONDITIONS OF ACCOMMODATION AND WORK IN SINGAPORE AFTER WORK PERMISSION<span face=\"Calibri\" size=\"3\"><br /></span></strong></h2><p><span>The holder of a work permit in Singapore must comply with the conditions</span><span face=\"Calibri\" size=\"3\">:</span></p><ul><li><span size=\"3\"></span>         <span>work in the specified company and on the specified employer in the work permit;</span></li><li><span size=\"3\"></span>         <span>prohibition of participation in another business or the opening of one\'s own business;</span></li><li><span size=\"3\"></span>         <span>residence at the address specified by the employer when hiring.</span><span face=\"Calibri\" size=\"3\"> <span>In case of changing the address of residence, you must inform the employer;</span></span></li><li><span size=\"3\"></span>         <span>a medical examination in Singapore by a local doctor.</span><span face=\"Calibri\" size=\"3\"> <span>If you are found to be professionally unfit, the work permit is revoked;</span></span></li><li><span size=\"3\"> </span>        <span>carrying with him the original work permit and presenting it for inspection at the first request of a civil servant;</span></li><li><span size=\"3\"></span>         <span>payment to the employment agency in the amount of a monthly salary for the year, but no more than two months\' salary even after signing an employment contract for more than 2 years.</span></li></ul><p><span>In addition, there are restrictions that include:</span></p><p><span face=\"Calibri\" size=\"3\">1.</span>       <span>Ban on marrying a permanent resident or a citizen of Singapore within or outside the country without the approval of the Worker Controller.</span></p><p><span face=\"Calibri\" size=\"3\">2.</span>       <span>Ban on conceiving and giving birth to a child in Singapore during the period of the work permit, while being married to a Singaporean citizen or permanent resident with the permission of the Worker\'s Controller.</span></p><p><span>These restrictions apply not only before the expiration of the work permit, but also in the event of the revocation or revocation of the permit.</span></p><p><span>I would also like to pay attention to the employment contract, which prescribes all the rights and obligations of a foreign employee and employer.</span><span face=\"Calibri\" size=\"3\"> <span>First, it specifies the amount of wages and <span>payment</span> terms, as well as the conditions for withholding, for example, for being late or absent from work, adjusting salary overpayments and others.</span> <span>Secondly, the hours of work and overtime payment are prescribed. <span>Third, it specifies the days off, the amount of payment for going to work on a day off, the duty of the employer to pay for public holidays (national holidays), the amount and period of leave, the right to sick leave under certain conditions and the conditions for payment.</span></span></span></p><h2><strong>SOCIAL SECURITY OF EMPLOYEES IN SINGAPORE<span face=\"Calibri\" size=\"3\"><br /></span></strong></h2><p><span>Singapore is a country with a high quality of working conditions, bright examples of which are low unemployment and high standards of living.</span><span face=\"Calibri\" size=\"3\"> <span>In the jurisdiction, the social security system is represented by the Central Reserve Fund, which requires certain amounts to be paid, both from the employer and from the employee.</span> <span>The presence of an account in the Reserve Fund guarantees the payment of pensions, the provision of medical services, the receipt of assistance from the state to protect the family or help the poorer layers of society and much more.</span></span></p><p><span>Monthly contributions to the Central Reserve Fund a foreign employee starts to pay only after becoming a permanent resident</span><span face=\"Calibri\" size=\"3\">. <span>Contributions are transferred to three accounts:</span></span></p><p><span face=\"Calibri\" size=\"3\">1.</span>       <span>Current account used to buy a house, pay insurance, investment and education fees.</span></p><p><span face=\"Calibri\" size=\"3\">2.</span>       <span>Special account allows you to save money for paying pensions or in case of unforeseen situations, investing in financial products related to the pension system.</span></p><p><span face=\"Calibri\" size=\"3\">3.</span>       <span>Special Medisave account used for hospitalization or health insurance costs.</span></p><p><span face=\"Calibri\" size=\"3\"> </span></p><p style=\"text-align: center;\"><em>To get professional advice on obtaining Singapore visas, you can contact the specialists of <strong>Castle Family Office!</strong></em></p><p style=\"text-align: center;\"><em>Write us at:</em><span face=\"Calibri\" size=\"3\"><em> <strong><a href=\"mailto:info@castle-familyoffice.sg\">info@castle-familyoffice.sg</a></strong></em><br /></span></p>','posts/Singapore00.jpg','labour-immigration-to-singapore',NULL,NULL,'PUBLISHED',0,'2018-06-20 02:15:00','2021-11-25 16:55:40',190),(114,1,2,'Where HNWI invest money?',NULL,'The most successful people think not only about the safety of their assets, but also about their own safety. And of course, the safety of future generations of their family. As Jim Rogers says, by 2020 for HNWI (High Net Worth Individuals) to live without a second passport and citizenship will be just stupid and reckless?','<p>The most successful people think not only about the safety of their assets, but also about their own safety. And of course, the safety of future generations of their family. <span>As Jim Rogers says, by 2020 for HNWI (High Net Worth Individuals) to live without a second passport and citizenship will be just stupid and reckless? </span></p><p><span>Jim Rogers is a well-known financier, billionaire, one of the most influential investors in the world, the creator of his own international commodity index RICI</span>. <span>He graduated from Yale and Oxford universities, taught finances at the Columbia University Graduate <span>Business</span> School</span>. <span>In the early 1970s, Jim Rogers, along with the legendary George Soros, founded the Quantum Fund, whose value in the first 10 years of its existence grew by 4200%, while the S &amp; P index rose by less than 50%</span>. <span>At the age of 37, Rogers retired to realize his main dream - travel around the world</span>. <span>In addition to numerous individual trips, he made two round-the-world trips, which were recorded in the Guinness Book.</span></p><p><span>This is a person who sharing the opinion that the second passports are necessary for successful people and investors</span>.<span><em> </em>At the moment, Jim lives in <strong><em>Singapore</em></strong>, and this is one of the countries that we especially recommend for business and life.</span></p><p><span>Even analyzing the market, one can safely say that the most successful ones have already invested, are in the process or are seriously thinking about investing in the second citizenship (at least for members of their families) or through naturalization to European countries or through the Caribbean citizenship <span>investments</span> programs.</span> <span>But it is also noticeable that an increasing number of <strong><em>Family &amp; Multifamily Offices</em></strong> are interested in citizenship<span> investments</span> programs, as well as private bankers, lawyers, trust managers, whose clients are asking about legitimate and solid opportunities for the rapid acquisition of such a passport</span>. <span>A two-day conference in London was very successful last year.</span> <span>This year it is planned to invite all four ministers of the Caribbean countries who are engaged in citizenship programs for investment.</span></p><h2><strong>How is the development of Saint Kitts and Nevis going forward, thanks to the citizenship investments program?</strong></h2><p><span>A comparatively small but incredibly beautiful island in the Caribbean attracts more and more attention of world investors.</span> <span>This is the developing island of St. Kitts, which belongs to the Federation of Saint Kitts and Nevis.</span></p><p><span>Saint Kitts is probably not a big island, but there is not a single mysterious beach left on it, where the construction of the next exciting luxury resort would not have happened.</span> <span>And everything from the fact that the island state is the smallest independent state in the Western Hemisphere with the oldest citizenship program for investments, and is now experiencing its real building boom in the sphere of hotel development.</span></p><p><span title=\"После получения независимости от английской короны Федерация Сент-Китс и Невис начала свой путь трансформации из страны, выращивающей сахарный тростник в современный финансовый центр, который предлагает невероятно привлекательный безналоговые условия для регистрации оффшорных компаний, превосходную программу приобретения второго экономического гражданствапутем инвестирования, которая гарантирует безвизовое посещение\">After gaining independence from the English crown, the Federation of Saint Kitts and Nevis began its transformation from a country that grows sugar cane to a modern financial center that offers incredibly attractive tax-free conditions for the registration of offshore companies, an excellent program for acquiring a second economic citizenship through an investment that guarantees a visa-free visit </span><span title=\"более 126 стран мира, а также превосходные проекты элитной курортной недвижимости с продуманной и разработанной ин\">more than 126 countries of the world, as well as excellent projects of elite resort real estate with a well thought out and developed in </span><span title=\"фраструктурой.\">fracture structure.</span></p><p><span>At St. Kitts, in the process of implementation is a mega luxury project like Kittitian Hill</span>. <span>This is a resort that can satisfy the wishes of even the most picky investor and buyer of elite real estate, both for the purpose of living and earning from the rental of property.</span></p><p><span>Very soon, the first hotel and such projects as Pirate\'s Nest, the Prime Hotel, the Imperial Bay and the projected residences Koi Resort &amp; Residences will open their doors at the Kittitian Hill Resort.</span> <span>Also in the development process on the south-eastern peninsula of the country is the Park Hyatt Resort.</span></p><p><b></b><span>And this is only a small part of the projects that will soon not only adorn the island, but will also create a large number of attractive real estate properties for wealthy investors from around the world.</span> <span>In addition to new projects, several previously created resorts are on the island of Saint Kitts, this is the Royal St Kitts Hotel, which is scheduled to open in 2015 and the nearby resorts of the Frigate Bay Beach Resort and the Ocean Terrace Inn, which were renovated in 2013</span>.</p><p><span>It is not surprising that other hotels aspire to implement their renovation process, because at the level of new resorts, every hotel will want to look decent.</span> <span>This is a kind of trend for the entire island nation to \"pull up\" and meet the new \"bar\" of elitism and the quality of the services provided.</span></p><h2><strong>Cabinet of St. Kitts approved a new project</strong></h2><p><span>More recently, the Cabinet of St. Kitts has approved a new project Heldens Estate Condo Resort &amp; Residences.</span> <span>This project will consist of more than 200 apartments, apartments and villas in St Paul\'s district.</span></p><p><span>But, as I described above, the goal of each project is not only to build a hotel or a villa, but also to create a decent infrastructure suitable for permanent residence on the islands.</span> <span>The multimillion-dollar project Heldens Estate Condo Resort &amp; Residences will be surrounded by a large infrastructure, which will include restaurants, bars, tennis courts and swimming pools.</span> <span>For the island it is also an attractive source of jobs.</span> <span>According to the Minister of Information, Nigela Carti, the new project will provide several hundred jobs.</span></p><p><span>In his statement, Carty said: \"The project will provide more than a hundred opportunities for employment in the design and construction phase of the project, as well as provide long-term jobs in the operating phase\"</span>.</p><p><span>The development of the Federation is influenced by the state program that provides citizenship for investments, in which investors not only acquire real estate, but also a second passport.</span> <span>This program exists for 30 years and offers two ways of acquiring the economic citizenship of the Federation:</span></p><ul><li><span style=\"text-decoration: underline;\">Investments in real estate in the amount of not less than 400 000 US $</span></li></ul><p><span>In the case of acquisition of citizenship at once by the whole family, in addition to the contribution of the head of the family, it is necessary to pay extra for each participant of the project.</span> <span>Anyone wishing to obtain citizenship over 16 years is required to pass due diligence, which will cost US $ 7,500 for an investor and US $ 4,000 for each family member over 16 years of age.</span> <span>The state fee is US $ 50,000 for an investor, US $ 25,000 for a spouse and each family member under the age of 18, if children over the age of 18 and up to 25 years, an additional US $ 50,000.</span></p><ul><li><span style=\"text-decoration: underline;\">Irreversible investment in the Sugar Industry Diversification Fund (S.I.D.F.) for the amount of US $ 250,000</span></li></ul><p><span>Under this option, to purchase a passport, it is necessary to make irrevocable investment in the state fund.</span> <span>When in addition to the head of the family, applications for a second passport will be submitted for 5 more people, the deposit amount will increase to 350,000.</span> <span>If children from 18 to 25 years, then for each need to pay extra 50 000 US $.</span> <span>Anyone wishing to obtain citizenship over 16 years is required to pass due diligence, which will cost US $ 7,500 for an investor and US $ 4,000 for each family member over 16 years of age.</span> <span>The term for obtaining citizenship alternates with this option from 4 months.</span></p><h2><strong>Nevis is not far behind from his brother</strong></h2><p><span>Nevis Island, as well as Saint Kitts offers a lot of attractive projects for wealthy investors.</span> <span>The most significant resort of the island is a five-star luxury resort - Four Seasons Resort.</span> <span>The resort offers not only exclusive opportunities for living and buying villas within the project, but also a luxurious infrastructure.</span></p><p><span>One of the attractions and features of Four Seasons Resort is a luxury golf course, which uses special eco-balls for golf.</span> <span>These balls can be safely thrown in the sea, because they consist of pure biomaterial, which in turn is a food for fish.</span></p><p><span>For the first time this extraordinary idea came to the director of the recreational part of the resort of Maku Ki Franz in 2013 and got its name \"Ecobioball\"</span>. <span>So visitors of the resort Four Seasons Resort today can not just enjoy playing golf, but also feed swords of local fish.</span></p><h2><b>SALT Plage <span>for cocktails under the moon</span></b></h2><p><span>By the way about other entertainments on the islands of the Federation, the most famous beach bar in a place called Frigate Bay was especially prominent.</span> <span>On St. Kitts everyone should visit the SALT Plage bar.</span></p><p><span>SALT Plage is part of the infrastructure that was created under the Christophe Harbor project on the southeastern peninsula of St. Kitts. <span>\"SALT Plage on the southeastern peninsula is famous for its hospitality and is a great addition to the opportunities at Christophe Harbor,\" said Buddy Darby, CEO of Christophe Harbor</span></span>. “<span>We are waiting for guests of all visitors who are nearby or from far away, in order to enjoy cocktails on the Caribbean moon</span>\".</p><p><span>According to the company, the bar received its name from the name of the estate, formerly owned by Dr. Arthur Wilkin, who had a business of exporting salt at the same place where the bar is now located in 1940</span>.</p><p><span>Today, the SALT Plage Bar in St. Kitts was designed by John Denton Haley in the Christophe Harbor project and includes a 82-meter mooring and 1,450-square-foot docking vessels</span>.</p><p><span>But, it is best not to hear a hundred times, but once to see this incredibly attractive island state, both for investors and for all who are just thinking about acquiring the passport of the Federation of St. Kitts and Nevis</span>.</p><p><span face=\"Calibri\" size=\"3\"> </span></p><p style=\"text-align: center;\"><em>You can apply for advice on obtaining a second citizenship for <strong>Castle Family Office</strong> specialists!</em></p><p style=\"text-align: center;\"><em>Write us via</em><span face=\"Calibri\" size=\"3\"><em> <strong><a href=\"mailto:info@castle-familyoffice.sg\">info@castle-familyoffice.sg</a></strong></em><br /></span></p>','posts/life-insurance-high-net-worth.jpg','where-hnwi-invest-money',NULL,NULL,'PUBLISHED',0,'2018-06-21 02:00:00','2021-11-25 17:44:38',218),(115,1,2,'Intellectual business in China and the principles of building a strategy for the protection of intellectual property in China',NULL,'Let\'s start by considering the principle of building a strategy for protecting intellectual property in China. Despite the existence of international treaties on the protection of intellectual property, there is a problem posed by the flow of counterfeit products in China. ','<p>Let\'s start by considering the principle of building a strategy for protecting intellectual property in China. Despite the existence of international treaties on the protection of intellectual property, there is a problem posed by the flow of counterfeit products in China. In addition, many protection mechanisms have been found to be ineffective as a result of:</p><p>• Difficulties in identifying manufacturers of counterfeit goods in China.</p><p>• The need to provide a large amount of evidence to prove unfair registration.</p><p>• Difficulties proving losses for the population of China.</p><p>However, due to the constant development of the economy of jurisdiction and the pressure of the world community, the Chinese government is taking more and more efforts to improve the situation in the sphere of protecting the rights of patent holders. The most correct and quickest way to protect one\'s rights is to register a patent in China, since such protection not only does not require much money, but the applicant will save his time. Registration of a patent in China is the most basic element of a strategy for protecting intellectual property.</p><p>In order to coordinate the interests of a legal entity in the field of intellectual property, it is highly recommended to appoint a responsible person for this area of the company\'s activities. When selecting a specialist for such a position, one should pay attention to the vision of a complete and clear picture of the interests of the enterprise in the field of intellectual property, knowledge of all regulatory and legislative acts, possible risks and difficulties in this area, rather than its education, work experience and previously held positions.</p><p>This is due to the fact that an important component of a successful intellectual property protection strategy is the timely response to the emergence of potential threats to violate the rights of the owner of an intellectual property object. Most often, this position is hired by reputable individuals who have quick access to relevant authorities that work with sellers and other employees to identify threats of copyright and / or patent infringement. These persons must provide the company in advance with a Certificate of Registration of Intellectual Property Rights and Power of Attorney for the most rapid response in case of violation of rights.</p><p>Any company in the course of doing business constantly registers more and more intellectual property rights. Therefore, the question arises about the need to regularly review and revise the certificates of registration of intellectual property rights of the enterprise to prevent various unforeseen situations. Conducting an audit of Intellectual Property or an IP portfolio means conducting an audit when a foreign company enters a new market or when a subsidiary is established. Foreign enterprises investing in the Chinese economy should conduct such an audit in the framework of a comprehensive legal assessment. Experts in the field of intellectual property rights protection recommend that Intellectual Property audit be audited every year. During this audit, the old and new rights of the organization in China are identified by the responsible person for the protection of intellectual property rights, the presence of the fact of registration of additional rights for this intellectual property is determined. In the absence of the fact of registration of intellectual property rights, the responsible person is obliged to start the procedure for registration of rights as a matter of urgency.</p><p> </p><p> </p><p>During the audit of Intellectual Property, it is checked:</p><p>1. The name of the brands that are created by the enterprise and / or its branches in other countries, or created at the local level.</p><p>2. Domain names that correspond to either the name of the enterprise or its brands.</p><p>3. Patents for technical inventions developed by the enterprise / foreign subsidiaries.</p><p>4. Individual industrial designs or designs that have distinctive features and are easy to copy.</p><p>5. Software, web pages, articles, catalogs protected by copyright.</p><p>6. Secret technologies, trade secrets, confidential business information and other similar information, access to which employees or business partners is regulated by contractual obligations.</p><p> </p><p>The listed intellectual property objects are protected on the territory of China provided that your copyright is registered before another person and the requirements of the legislation that we considered earlier are complied with.</p><p>In China, you can register a trademark, copyright and design in the customs authorities of the jurisdiction. This will allow for the detection by the customs authorities of goods that threaten the rights registered in the country, to immediately report this fact to the owner of the right to carry out further measures and actions to eliminate the threat of copyright infringement. Also, if the owner discovers the rights of shipment of counterfeit products, information about this incident can be communicated directly to the customs authorities of China.</p><p>For the proper preservation of exclusive rights to intellectual property objects, it is recommended to implement a mechanism at the enterprise aimed at ensuring the protection of rights.</p><p>First of all, it is necessary to monitor the fact whether the registered rights of intellectual property remain valid. The term of the trademark is 10 years, but its registration can be extended until the end of this period. In the absence of the fact of renewal of registration of the trade mark, you automatically lose all exclusive rights to it. For domain names, despite the simplicity and relative cheapness of their registration, a fee is charged for the preservation of rights for the registered person for the domain name. The patent for industrial designs and designs is 10 years old, for inventions - 20 years. However, each year a fee is introduced to extend the validity of the patent.</p><p>Also, this mechanism allows the enterprise to initiate measures to prevent the registration of rights by the other party, violating its rights. Applications for registration of trademarks are considered by TRAB (Trademark Bureau or the Trademark Office) and checks for similarity with previously registered trademarks. After consideration of the application in the \"Trademark Gazette\", the relevant information is published. A third party may appeal a decision within a certain period. We discussed the registration of trademarks in previous articles in more detail. So let\'s move on to domain names.</p><p>When registering a domain name by a third unscrupulous party, the procedure for returning a domain name to a bona fide party is launched more quickly than by a bona fide owner, which is fairly simple provided that it starts for 2 years from the date of domain registration. Otherwise, the domain name will be returned only through a judicial process through filing a civil lawsuit. It is possible to cancel registration of a domain estate by a court decision. In order to avoid such situations, you should regularly look through lists of domain names that are of interest to the company.</p><p>Tracking encroachments on patent rights is a more complex procedure due to the complexity of the technical device. More often than not, enterprises wait for the occurrence of an infringement of rights and claim to the State Intellectual Property Office (SIPO) about the invalidity of the patent. Such a mechanism is most effective in the case of protection of industrial designs and design. In connection with the fact that, in essence, the rights are not reviewed in the process of challenging, most often the court decides to terminate such rights on the basis of their validity. In the case of patents for an invention, everything is much more complicated, but many companies still monitor the publication of new, competing inventions.</p><p>Summarizing the above, we will outline the measures of the owner of intellectual property rights in violation of his rights. They depend on:</p><p>• The nature of the violation.</p><p>• The severity of the violation.</p><p>• Evidence of a violation.</p><p>The person responsible for making the decision to initiate a response must clearly understand the current situation and know a number of actions possible with such a situation.</p><p>Consider the most frequently used measures for the protection of intellectual property rights:</p><p>1. Collect evidence.</p><p>2. Based on the collected evidence, the offender is warned of the company\'s intention to file a lawsuit in court and propose to resolve the current situation peacefully.</p><p>3. In case of refusal to peacefully resolve the issue, the victim shall receive a complaint in order to obtain a court injunction in:</p><p>• Administration for Industry and Commerce,</p><p>• Bureau of Quality and Technology Control,</p><p>• Office of Intellectual Property,</p><p>• Office of Copyright / Customs Office.</p><p>4. Also, or instead of filing a complaint, the victim submits to the People\'s Court a civil action to obtain a judicial injunction on the detected violation with recovery of compensation from the infringer of the damage caused.</p><p>Due to competent training, the company will be able to respond quickly to the detection of a violation. Preparation of the enterprise is:</p><ul><li>Prepared and signed power of attorney.</li><li>Obtaining a Certificate of Intellectual Property Rights.</li><li>Collecting other necessary documentation to take action in case of a violation.</li></ul><p>The effectiveness of the measures taken in the event of a violation detection and prevention of the company\'s losses is possible only with the fastest possible collection of information on potential violations. Monitoring of the market to identify possible violations should be carried out according to the type of enterprise and the type of products produced by it. Monitoring is the task of sellers who communicate directly with customers and can learn about competing products. A number of companies designate one officer responsible for monitoring violations in the worldwide Internet. Each enterprise should clearly define for itself which type of monitoring is right for it, taking into account the emphasis on earlier detection of violations of rights and the transfer of this information for taking response measures to the manager for managing intellectual property.</p>','posts/233.jpg','intellectual-business-in-china-and-the-principles-of-building-a-strategy-for-the-protection-of-intellectual-property-in-china',NULL,NULL,'PUBLISHED',0,'2018-06-22 11:49:11','2021-11-25 16:55:37',209),(116,1,2,'British overseas territories are against public registries',NULL,'The UK decided to impose public registers of company owners on the Overseas Territories. However, the territories themselves oppose, believing that by such a decision the UK violates their constitutional rights. Some even talk about constitutional detachment from the Kingdom.','<p>The UK decided to impose public registers of company owners on the Overseas Territories. However, the territories themselves oppose, believing that by such a decision the UK violates their constitutional rights. Some even talk about constitutional detachment from the Kingdom.</p><p> </p><p align=\"center\"><b>Great Britain requires offshore public registries of beneficiaries</b></p><p>In early May, quite unexpectedly, the UK government voted to introduce publicly accessible registries of beneficiaries of companies in the Overseas Territories. Even the former opponents of the proposal in the British parliament eventually agreed.</p><p>Implement changes in 14 Overseas Territories due until 2020, including the popular offshore jurisdictions of Bermuda, the British Virgin Islands, the Caymans, and the like. One of the reasons for this decision is the fight against money laundering and the financing of terrorism. According to the Panamanian papers, half of the companies that were in the field of view of journalists were registered in the BVI, plus through this jurisdiction, $ 68 billion was spent from Russia in the period from 2007 to 2016.</p><p>British officials consider it their moral duty to introduce such requirements in the British offshore and compare them with the abolition of the death penalty in 1991 and the decriminalization of homosexuality in 2000.</p><p>A separate indignation was caused by the fact that the innovations refer only to the Overseas Territories. The crown territories - the Isles of Maine, Jersey and Guernsey - do not qualify for claims, because the British Parliament does not have the right to do so. However, after success with the Overseas Territories, experts believe, officials can try to introduce amendments for the Crown Territories.</p><p>At the same time, the Overseas Territories are extremely negative and even evil against the decision of the British Parliament.</p><p align=\"center\"><b> </b></p><p align=\"center\"><b>Overseas Territories go to conflict with London</b></p><p align=\"center\"><b> </b></p><p>A unilateral decision by London could harm the economies of the Overseas Territories. So representatives of several island jurisdictions consider. In addition, such a decision is a direct interference in the life of jurisdictions and violates the constitution.</p><p>The economy of the Overseas Territories is highly dependent on foreign investment. In case of forced introduction of public registries of beneficiaries, a large share of investments will leave the islands. And the money will go to other, even more non-transparent jurisdictions.</p><p>On the BWO, against the introduction of the rules, a protest march took place, in which 1,000 people took part. For a 30 thousandth island - this is a huge number. Also, the BWO authorities decided to hire an international law firm Withers to prove the non-constitutionality of the adopted bill. The BWO states that it will not approve the bill until public registers become the norm of international law.</p><p>The Cayman Islands believe that London\'s behavior is a manifestation of colonial despotism. They want to get rid of the possibility of such a strong influence on the part of Great Britain. Representatives of the Cayman and other jurisdictions are sure that the financial sector will not limit the pressure of London. After the implementation of these rules, other proposals will be followed, from which it will be impossible to refuse.</p><p>Prime Minister Bermuda told Teresa May that she will not announce the amendment, since his country does not recognize the right of Great Britain to influence the domestic policy of the country. He agrees to introduce public registries only if such practice becomes an international standard.</p><p> </p><p align=\"center\"><b>The war against the British offshore</b></p><p align=\"center\"><b> </b></p><p>Against privacy and offshore is a real war. Especially against the British offshore. In some moments, it seems that the UK itself actively supports the attack on its offshore territories, essentially giving the audience and clients to offshore companies that are subordinate to other states, for example, the United States.</p><p>Offshore companies require the exchange of tax information. The BWO was required to transmit data to the UK upon request within 48 hours. Now offer to create public registers of ownership of companies that exist far from anywhere even in onshore jurisdictions.</p><p>The open registry of the UK is criticized because it partially violates the right to confidentiality and opens up wide opportunities for using information by scammers. This is expected by many experts in the event that offshore companies will oblige publicly disclose information about the owners of companies.</p><p>At the same time, we understand that this measure will not be a cardinal decision to whitewash the economy, or it can help to reduce the flows of laundered funds. Most likely illegal means will move to less transparent places. Some analysts are sure that you do not need to go to a little-known offshore for this, it is quite possible to use the USA or even the UK for this. The latter introduces various anti-money laundering laws and increases the transparency of asset ownership, but many see this as only a lever of political pressure, and not an attempt to actually remedy the situation.</p><p>The use of offshore companies becomes difficult. Planning, preparation, timely work with documents is required. Any bank in which you want to open an account requires accountability and proof of the legality of the origin of the funds. The old schemes stop working and become a source of danger for the entrepreneur. If you do not take this into account, you can get a whole bunch of adventures, which you can really avoid.</p>','posts/photo-1511794936915-b63b9f69d3f8_418x235.jpg','duplicate-of-intellectual-business-in-china-and-the-principles-of-building-a-strategy-for-the-protection-of-intellectual-property-in-china',NULL,NULL,'PUBLISHED',0,'2018-06-25 11:49:00','2021-11-25 17:44:33',236),(117,1,2,'Meet - TRUST!',NULL,'Let\'s try to talk about the Trust as an elementary structure. So, what is a trust?','<p>Let\'s try to talk about the Trust as an elementary structure.</p><p>So, what is a trust?</p><p>A trust is a written agreement, according to which one person (usually legal) becomes the legal owner of any assets that previously belonged to the founder of the trust. This person is called TRASTI. At the same time, income from ownership of these assets is not obtained by the legal owner (trust), but by other persons (beneficiaries) who are predetermined in the trust.</p><p>The name of the trust - restrictions for the name, as a rule, is not present, however the presence of the word TRUST in the title is mandatory.</p><p>The life of the trust is, as a rule, according to the law of 99-100 years, in practice it can be from 10 to 40 years. Investment trusts can exist for 3-7 years. Trust for teaching children 3-6 years.</p><p>Assets can be added to the trust at all times, these additions can be made by the founder of the trust and the legal owner - the manager = TRASTIS, other persons can add assets only by agreement with these two persons, unless otherwise provided by the trust agreement. Assets include: money, securities, shares in companies, real estate, valuable movable property, yachts, airplanes, helicopters, intellectual property, collections of art objects, wine, brandy collections, etc.</p><p>The founder of the trust, can be any legal or natural person who has reached the age of 18 (in some jurisdictions since the age of 21). The founder can not transfer assets that do not belong to him (they are not legally formalized).</p><p>Rule know your client (Due diligence) for trusts and trusts - when creating a trust, the trust company MUST make sure of the Tax purity of the assets transferred to the trust. If there are doubts about the purity of assets, then the trust company has the right: to refuse the client to create the trust, not returning the funds spent on the creation of the trust, or to offer the client additional checks at his expense in order to obtain convincing evidence of cleanliness. In practice, any options are possible. It should be borne in mind that every year the requirements become tougher, and what was possible a year ago now becomes impossible.</p><p>There are cases and every year there are more of them when trust companies block the assets of clients and ask to provide information about the tax purity of previously transferred assets. Unfortunately, many customers are not able to submit such reports, or they do not meet the requirements of the Trust.</p><p>I must say that it is not always possible to help clients with the transfer of trust, under our management with the subsequent procedure of tax clearance, for a number of reasons. One of them in the previously written trusts does not indicate the possibility of moving the trust to another jurisdiction and another trust. The second reason is that a new kind of fraud is developing in order to squeeze the maximum amount of money out of the Russian trust to its own advantage, it is possible to withdraw funds from blocked assets with impunity, for administration and alleged checks of the founder and his tax history.</p><p>The beneficiaries of the trust can be any legal or natural persons, including those who have not yet been born (for example, great-grandchildren), funds, other subjects and objects. The trust does not impose restrictions on the beneficiaries, but these beneficiaries need to be classified, have clear, definite directions.</p><p>Excluded persons for a trust are those legal entities or individuals who under no circumstances can claim assets or income from them in the trust. Even in court, they can not demand anything, since they are excluded at the stage of creating the trust.</p><p>The protector of the trust is a legal or natural person appointed by the founder, who provides control, and observes the provisions of the trust on the part of Trustee. The powers of the Protector are determined when the trust is created. The number of protectors, as a rule, is limited to six persons. The powers of each protector may differ significantly from each other. Protectors have the right to transfer their rights to another person, if it is defined in the trust. The powers of the protectors can end if they have reached a goal, or if it has ceased to exist.</p><p>Private Trust Company (PTC, Family office) This trust company with a license to manage trusts is sometimes limited by the number of trusts or a circle of founders. It is created under the laws \"On trusts and trust companies\", its activities are usually controlled by the supervisory authorities of the country in which it is created. Not all countries can be created, in practice there is an example when such a trust company was bought for $ 5 million + as much was given to its owner behind the scenes, like compensation for reputation (some offshore trusts have an agreement not to create other trusts and not sell their companies without the approval of other trusts).</p><p>The cost of creating such a structure will depend on the specific tasks assigned. If there is such a need, please contact me and give the initial data.</p><p>It is created, as a rule, in those cases when the assets are large enough from $ 50 million and you need your own \"manual\" management of such trust through trusted persons.</p><p>The cost of creating a trust - depends on the outgoing task, which the founder puts, in practice from 7,000 euros and above, a maximum of 120,000 dollars.</p><p>The cost of annual maintenance of the trust, also depends on the tasks set by the founder. Begins from 3500 euros per year for administering the trust.</p><p>In practice, there is a tricky fraudulent scheme when you sell a $ 1,000 trust with an annual maintenance fee of $ 500. And then miracles begin: the answer to your letter to the trust costs 1000 dollars, a phone call from $ 500 and above, any piece of paper, any answer is included in your account and can be up to $ 50,000 by the end of the year. Pay that you will be required, or they will simply be deducted from your asset. Even if you do not write and do not call them, they will send you a report you do not need, write letters, call to include it in value, such is the hidden payment of the cost of trust, as our saying \"Miserly - pays twice!\"</p><p>Therefore, the advice: all the nuances stipulate at the stage of creating a trust! Remember that our lawyers are even very good, with excellent legal English can not know all the subtleties of trust rights, and the consequences of one or another item of the trust agreement.</p><p>The term for the creation of a trust from 3 weeks to 15 months, depends on the founder, how quickly he reads and responds to the documents sent to him.</p>','posts/fgh (2)_397x264.jpg','meet-trust!',NULL,NULL,'PUBLISHED',0,'2018-06-25 09:00:00','2021-11-25 17:44:35',232),(118,1,2,'US Equities took a punch! ',NULL,'On Monday, the S&P 500 Index drop 1.37% on concerns around trade war. It broke the trend line from March Low. US equities are spooked by the prospects of a deepening trade war. Earlier this month, the recent G7 Summit at Canada displayed signs of tensions between the US and other major industrial nations. US President Trump left the summit earlier and pulled US support from the joint statement. He further accused Canadian Prime Minster Trudeau of being weak and dishonest.','<p>On Monday, the S&amp;P 500 Index drop 1.37% on concerns around trade war. It broke the trend line from March Low.</p><p> </p><p>US equities are spooked by the prospects of a deepening trade war. Earlier this month, the recent G7 Summit at Canada displayed signs of tensions between the US and other major industrial nations. US President Trump left the summit earlier and pulled US support from the joint statement. He further accused Canadian Prime Minster Trudeau of being weak and dishonest.</p><p> </p><p>Yesterday, Wall Street Journal reported Chinese President Xi Jinping told CEOs that he could retaliate against the US on trade. China could “punch back” instead of turning the other check if somebody hits you on the left cheek.</p><p> </p><p>As the US equities corrected heavily, US Trade Advisor Navarro came out to comment that the market declines are “an overreaction” and that investment restrictions are not as sweeping as markets are anticipating. This resulted in the S&amp;P 500 Index to rebound from the low. His remarks are similar to the earlier tweets by Treasury Secretary Mnuchin that the Treasury’s report coming Friday are not directed to any specific country.</p><p> </p><p>As the trade war continues to escalate, below are the upcoming key dates to watch out.</p><ul><li>June 30: Announcement on restrictions on Chinese investment in the US.</li><li>July 6: Implementation on US$34bn import tariffs</li><li>August: US$16bn import tariffs</li><li>September: US$200bn import tariffs</li><li>By November: Auto import tariffs</li></ul><p> </p><p>US President Trump wants to fulfil his election promise to his voters on his “America First” doctrine. He is focused on putting the American interest above the rest of the world, and helping the American workers affected by heavily-subsided Chinese imports. He believe such a move could help him to perform well in the November midterm elections.</p><p> </p><p>Thus, we expect trade tensions to remain till the US midterm elections on November. Further escalation of trade war could deepen the correction in the US equities.</p><p> </p><p><b>Edmund Chan, CFA</b></p>','posts/edmundch.jpg','duplicate-of-british-overseas-territories-are-against-public-registries',NULL,NULL,'PUBLISHED',0,'2018-06-28 04:44:00','2022-06-21 12:07:39',240),