Entrepreneurial Subjects

Entrepreneurial Subjects

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INTERSHORES | A Practical Guide For Setting Up In the Guangdong-Hong Kong-Macao Greater Bay Area (An Area With GDP Of Over US$1.9 Trillion) Via Hong Kong

The Guangdong-Hong Kong-Macao Greater Bay Area (GBA) is a main economic driver of China with GDP of over US$1.9 trillion and an increasingly wealthy consumer market of over 86 million people. It has been seen by as the most attractive regions in Asia for high-value businesses. To better assist businesses to capitalise on the tremendous opportunities brought about by the GBA, InvestHK and PricewaterhouseCoopers have jointly released a guide titled “A Practical Guide for Setting Up in the Guangdong-Hong Kong-Macao Greater Bay Area via Hong Kong” to provide insights on new opportunities in Hong Kong and the GBA. Please read the report at the bottom of this article. Whatsapp...
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virtual meeting

INTERSHORES I Guidance On Meeting Arrangement During Pandemic

Introduction The pandemic has affected business ecosystem resulting in gathering restriction which becomes a daily pertinent issue for private or listed companies in respect of annual and extraordinary meeting (AGMs/EGMs). The Hong Kong Chartered Governance Institute has issued guidance on 17 March 2022 in relation to meeting arrangement at pandemic. Gathering restrictions Regulations affecting meeting arrangements: 1. Prevention and Control of Disease (Requirements and Directions) (Business and Premises) Regulation’ (Cap 599F). Meetings can no longer be arranged at public ‘event premises', for example, hotels and conference centres until further notice. The Hong...
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aml

INTERSHORES I Top 3 AML Trends in 2022 - What Does It Mean To An Entrepreneur

Evolution of advanced technology offered business opportunity on one hand but regulators need to develop artificial intelligence (AI) to detect sophisticated hidden financial crime on the other. Businessmen have to prepare themselves for more anti-money laundering (AML) regulation in the foregoing. Below are the key AML trends in 2022 which will affect your business. 1. Using Advanced Technology AI has played a pivotal role in automating processes applicable to AML such as risk scoring, creating risk portfolio, consolidation of customer due diligence (CDD) data and screening process (for example Politically Exposed Persons, sanction, watchlist and adverse media screening). Banks...
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sanction

INTERSHORES I Russia Sanctions - What You Should Know To Reduce Risk As An Entrepreneur

In the first quarter of 2022 after Ukraine’s conflict with Russia, European Union, United States, United Kingdom and all their ally countries began to announce new sanctions on designated Russian individuals and entities. The sanction includes trade restriction on certain products, freezing of assets on target individuals including wealthy business leaders “oligarchs” and politician, travel bans, limitation on designated Russian banks, cancelling on SWIFT (Society for Worldwide Interbank Financial Telecommunication) restricting fund movement. Sanction by United Nations Security Council (UNSC) against Russia has not yet been made, having considered Russia holds a veto vote...
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2022

INTERSHORES I 12 Resolutions To Keep You Financially Fit For 2022

1. Keep a budget. Budgeting is simply a plan for how you intend to spend and save your money. Knowing how much money you earn and spend each month puts you in a better position to save and plan for the future. 2. Live below your means, but within your needs. Before spending any money, you should ask yourself the question, “Can I afford it?” But even if you can afford it, you should also ask, “Do I need it?” Spend on what you need, rather than what you want and try to get the best deal for your money. 3. Pay yourself first. Have the money you plan to save automatically deducted from your monthly paycheck before you pay any other bills. One of the...
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INTERSHORES I Insurance

An offshore insurance company, usually referred to as a 'captive' insurance company, is usually a subsidiary of a large company or group of companies, and its purpose is to offer insurance within the parent company or group, thus saving external costs and generating profits in a low-tax jurisdiction. The fiscal benefits are not necessarily the driving factor, but they can be significant. Direct access to reinsurance is another important advantage of a captive. Some high-tax countries have legislated to prevent excessive shifting of income to captives, but usually without seriously reducing fiscal benefits. Apart from offering tax savings, it is usually also true that an International...
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INTERSHORES I Licensing and Franchising : Royalty Collection

IOFCs (International Offshore Financial Centres) naturally generate significant amounts of professional work in support of the offshore companies and trusts that are set up in their territories. While some of this is performed by nationals of the IOFCs, much necessarily falls into expert foreign professionals worked in IOFCs which make it reasonably easy for them to work locally. Apart from IOFC’s 'offshore' professional activity, IOFCs are also an attractive location for professional firms offering their services internationally without physically living there. Engineering and management consultancies are key examples. The advantages of professional services include low local...
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INTERSHORES I Professional Services

IOFCs (International Offshore Financial Centres) naturally generate significant amounts of professional work in support of the offshore companies and trusts that are set up in their territories. While some of this is performed by nationals of the IOFCs, much necessarily falls into expert foreign professionals worked in IOFCs which make it reasonably easy for them to work locally. Apart from IOFC’s 'offshore' professional activity, IOFCs are also an attractive location for professional firms offering their services internationally without physically living there. Engineering and management consultancies are key examples. The advantages of professional services include low local...
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INTERSHORES I Corporate and Financial Management

The corporate headquarters of large groups tend to accumulate a variety of support services, which are often priced into the base costs of the group's products and services, and then attract margin in the final price to a customer. The profit realized by the group in this way is of course taxed at whatever local rate is applicable. The evolution of telecommunications, most or all headquarters' functions can be carried out almost anywhere, and there is extreme competition to attract them between IOFCs (International Offshore Financial Centres) and high-tax jurisdictions as well, all wanting the prestige and the economic benefits stemming from the presence of a group of highly-paid...
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INTERSHORES I Financial Holdings and Investment Activities

There was a general perception that multinationals route investment or ownership holding and investment by IOFCs (International Offshore Financial Centres) due to low computer technology or lack of modern telecommunications in the old days. The evolution of modern telecommunications and evolution of financial infrastructure of some IOFCs had changed the offshore climate allowing many SMEs or new biz businesses to enjoy tax advantages. For example, there are around 500 banks there to reduce their own tax bills and to service the needs of corporations that want to lower their tax burdens. A very wide variety of corporate financing and investment purposes offshore listed below: 1. ...
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offshore-funds (1)

INTERSHORES I Offshore Financial Services (Investment Funds)

International Offshore Financial Centres (IOFCs) often provide a welcoming environment for investment companies. Offshore investment vehicles may take a variety of forms: unit trust, mutual fund or investment company, and may be open-ended or closed. They will be referred to generically as 'offshore funds'. In all cases the key reasons for being offshore are that the gains from investment are untaxed or very lightly taxed in the IOFC concerned, and that the regulatory regime in the IOFC is lighter than in the high-tax countries where the investors and often the promoters (owners) of the fund are to be found. IOFCs vary greatly in the legal and fiscal regimes they provide for offshore...
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HK Startup

INTERSHORES I Hong Kong's Startup Ecosystem

Hong Kong is one of the fastest growing startup ecosystems and one of the world’s top startup hubs. It not only is a fast growing tech startup ecosystems, at the activation stage but also one with great potential for acceleration driven by the city's supportive incubators and accelerators, the strong funding support for startups and a pool of angels/venture capitalists. Plus, all the enduring business advantages that Hong Kong provides such its world-class financial industry and its prime strategic location next to the hardware manufacturing cluster of the Pearl River Delta providing timely strategic opportunities growth for FinTechs and IoTs. It is, however, still lagging...
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