Fidinam Genève Newsletter - October 2020
Fidinam Genève Newsletter - October edition is out today.
Discover latest updates from our experts in Genève about tax and business matters. In this issue:
Imposition d’après la dépense dans un contexte franco-suisse
Le régime suisse d’imposition d’après la dépense, communément appelé « forfait fiscal », est un sujet qui suscite depuis toujours de nombreux débats aussi bien en Suisse qu’à l’étranger. Les relations franco-suisses ne font pas exception.
Elles ont particulièrement évolué au cours de ces dernières années, ce qui amène certains à s’interroger sur la situation fiscale actuelle des ressortissants français imposés d’après la dépense en Suisse.
Swiss independent portfolio managers and trustees: update on FINMA authorizations
According to the official statistics on the mandatory notification with FINMA, that was due for the 30th of June 2020, about 2’200 portfolio managers and trustees will apply for an authorization by end of 2022:
- 34% French speaking area of Switzerland
- 55% German speaking area of Switzerland
- 11% Italian speaking area of Switzerland
Four supervisory organisations are now operational: So-Fit (Geneva) and FINcontrol (Zug) in addition to OSFIN (Neuchâtel) and OSIF (Geneva), and one more candidate is waiting for approval.
In addition, portfolio managers must be affiliated to an ombudsman recognised by the Federal Finance Department by 24 December 2020.
Seychelles: companies must now keep accounting records in the jurisdiction
The Seychelles government is to introduce further anti-money laundering reforms.
Bahamas: additional beneficial ownership measures
The latest amendment of the Register of Beneficial Ownership Act will bring segregated accounts companies (SACs) and non-profit organisations limited by shares under the Act's explicit scope.
Cayman Islands: companies registers open to public inspection
Following recent changes to Cayman Islands law, the Register of Companies and Register of Limited Liability Companies (“LLCs”) are open to inspection for a fee (US$61) from 1 October 2020.