Requirements for contact person in Estonia

According to the new amendments in Corporate Law of Estonia, the Contact person shall be appointed if the company established in Estonia does not have any Member of the Management Board residing in Estonia.

New amendments of anti-money laundering law in Estonia

Starting from 27 November 2017 the Money Laundering and Terrorist Financing Prevention Act has been amended by extending the personal responsibility of Estonian companies in case of poor due diligence measures regarding all the Partners and Clients of the company.

New opportunities in e-Estonia: remote opening of a bank account

Minister of Finance of Estonia Sven Sester has signed the decree that will simplify the procedure of opening an account in the local banks. Now Estonian and foreign e-residents will have an advantage for identification without their presence in the bank during opening an account. Banks will start to use digital technologies that allow remote verification of the identity of costumers. The decree comes into force on 31 October 2016, nevertheless, banks will still have a right to demand the personal presence of the client.

Implementation of anti-offshore law in Russia is postponed

According to the anti-offshore law, by April 1, 2015 taxpayers had to notify the Federal Tax Service of owning more than 10% of the share capital of controlled foreign companies (i.e. companies that are not tax residents of the Russian Federation, but controlled by them).

Changes in Estonian Income Tax Act and new declaration forms

Since the year, 2015 new rules how to fill in the income and social tax forms (TSD) have to be applied. According to which, contributions to the company’s share capital have to be declared as soon as they were made, i.e. next month.

New simplified rules of applying for e-Residency

Earlier to receive e-Residency you had to come to Estonia, go to the Tax and Customs Board and there fill all necessary documents in. Since 1.04.2015 applications for e-Residency can be submitted in Estonia representative institutions in any country, which will save you time and money.

Restrictions on capital movements in Cyprus are now removed!

On April 6, 2015, the Government of Cyprus has removed restrictions on international payments, transfers and other forms of capital movements. For example, there will no longer be a monthly limit of 20 000 euros on transfers by individuals to foreign banks.

Estonian New Income Tax Rate

Since January 1, 2015, the new reduced Income Tax has to be applied. The rate dropped from 21% to 20%. Estonian companies do not have to pay Income Tax until the profit is distributed as dividends.

What to expect from Russian anti-offshore law?

According to the latest data Financial Ministry of Russia agreed to soften the bill on controlled foreign companies (CFC). The term CFC provides for the implementation of the following three conditions: the entity is not a resident of the Russian Federation; control of the company is carried out by the Russian Federation residents; foreign structure without legal entity, controlled by individuals under tax residency of the Russian Federation.

The End of Banking Secrecy

On October 14, 2014 the Economic and Financial Affairs Council of EU has adopted the agreement on introduction of the expanded directive about automatic exchange of information between tax authorities of the European countries which would allow to spot tax evasion or illicit money flows more easily.

Our awards this year

The year of coming of age – the year of our 18th birthday – is the time when the results of hard work become truly apparent.

New measures in Cyprus after crisis peaking

On April 2013, The House of Representatives has voted new amendments to various tax laws in order to comply with the requirements of the Memorandum of Understanding between the Republic of Cyprus and Troika, in an effort to correct public finances.

Announcement of seminars 2013

Working with European companies and within the territory of the EC. Specifics of application of VAT rules and transfer price formation.

New royalty privilege of Cyprus tax regime

New amendments to the Income Tax Act have come to effect since January 1, 2012 in Cyprus. They concern the taxation of income from any type of intellectual property (royalty). Now, the effective tax rate on such payments will not exceed 2%.

The Netherland gets closer

On October 1, 2012 in the Netherlands will be implemented new legislation for Dutch BV. The most important in this legislation is that now for the registration of BV does not have to pay the minimum authorized capital in amount EUR 18.000. Company type BV may be incorporated with a minimum capital of EUR 0.01.

Danish companies vogue is up more

Over the past ten years the Danish Kingdom has taken active steps towards a permanent improving of the state’s image in the field of business organizing and operating among as medium- as big-sized business leaders . As a result, demand for Danish companies such as K/S has grown significantly and starts to gain with each passing day.

Cyprus provisional tax

Life goes on, but taxes do not want to change so quickly. Deadlines on Cyprus provisional tax submission are approaching.

Double tax agreement between Estonia and Cyprus

07.06.2012 The Estonian parliament approved a draft treaty on avoidance of double taxation with Cyprus. Will such agreement have impact on the interaction between the two countries?

V conference “The International corporate decisions 2008”

On October, 9-10th, 2008, the V conference “The International Corporate Decisions 2008” has taken place in Kiev, Ukraine. The head of the company FM Capital Consulting AS Dmitry Lamikhov has made a report on the theme of “The Estonian companies as the residents of the EU”.

Seminar “The Estonian companies as a resident of EU”

On September, 24th 2008 FM Capital Consulting holds a business lunch on the topic of “The Estonian Companies as a Resident of EU. Features of Tax System, Privileges and Advantages”. Semiinar holds in Kiev, Ukraine.

Cyprus tops corporate tax regimes poll in Europe

Cyprus, Ireland and Switzerland are the top three countries in a league table of European tax systems, compiled by KPMG International, in which major business organisations across Europe assessed the attractiveness of their domestic tax regimes.

Cyprus adopted the EUR from the 01.01.08

As of the 01.01.08 Cyprus as EU member adopted the European Currency or else as know EUR. Those companies that issued their share capital value in Cyprian pounds (CYP) will have to be convert the capital it in EUR.

2nd annual conference «Protection of Assets – 2007»

On 18th of October 2007 Kiev (Ukraine) hosted the 2nd annual conference «Protection of Assets – 2007». Conference was dedicated to the issues of preservation of assets, guaranteeing security of business, protection against fraud.

UK leads the way in company incorporations

The United Kingdom has revealed itself as the substantial leader among jurisdictions incorporating new companies during 2006. Over the course of last year, the UK (England & Wales) saw in excess of 305,000 companies registered – more than four times as many as the next in the table, Hong Kong.

Details of Income Tax treaty between Ukraine and Cyprus

On 21 February 2007, the Ukrainian Government authorized the Ministry of Finance to conclude a new income tax treaty between Ukraine and Cyprus. Once signed and in force, the new treaty will replace the Cyprus-former USSR tax treaty of 29 October 1982 in bilateral relation between Ukraine and Cyprus.

A conference “Offshore – alive or dead?” was held in Riga

On 30 and 31 March 2006 a conference “Offshore – alive or dead?” was held in Riga. FM Capital Consulting AS participated in the conference that was organized due to increased interest of business circles towards new trends in “offshore” world. The conference dealt with issues such as “How to keep the assets in offshore company safe?”, “How to pay taxes to optimum extent and in compliance with laws?” and many other similar issues.

FM Capital Consulting celebrates the 10th anniversary

OÜ Finantsimeister was established on 23 February 1996. Later on the company was transformed into public limited company FM Capital Consulting AS. During the time of its activities the company has gained extensive experience in registration and accompanying of companies in various countries in the world.