The Ministry of Justice of Romania has put forward for discussion amendments to the Romanian citizenship law aimed at increasing language proficiency requirements for citizenship restoration based on heritage. Minister of Justice Alina Gorgiu noted that the proposed changes are an important step towards Romania’s accession to the visa waiver program with the United States. […]

HM Revenue & Customs (HMRC) has initiated contact with residents of the United Kingdom whose names appeared in the Pandora Papers, hinting that some of them may potentially face criminal liability. Individuals mentioned in the files of 14 offshore financial service providers have the opportunity to regularize their affairs with the tax authority. In letters […]

The Council of Europe, through its Committee of Experts on the Evaluation of Anti-Money Laundering Measures (MONEYVAL), has expressed concern regarding Montenegro ‘s approach to combating money laundering and terrorist financing. In a report published by MONEYVAL, it is noted that although Montenegro has made significant progress since the last comprehensive evaluation in 2015 in […]

The recent tax changes in filing forms (IRS), also known as Modelo 3, published in Diário da República, reflect significant amendments introduced in the Codigo do IRS. These changes include an increase in the taxation of short-term capital gains, mandatory reporting of income from cryptocurrency sales, and alterations in real estate income taxation due to lease […]

Despite expected rate reductions, Capgemini predicts that global banks will maintain robust profitability amidst fierce competition for deposits in 2024. Following significant capital outflows triggered by the collapse of several banks in the USA and Europe, attracting deposits has become crucial for crisis prevention and long-term stability, according to Capgemini’s report titled “Retail Banking: Key […]

In the budget for the fiscal years 2024-2025, presented on February 28, 2024, the Financial Secretary of Hong Kong proposed several tax measures, including the introduction of a ‘Patent Box’ regime with a reduced corporate tax rate of 5% (compared to the standard rate of 16.5%). On March 28, 2024, the Hong Kong government published […]

Hurun Global Rich List 2024, the 13th annual report, has been released, tallying the fortunes of billionaires worldwide and presenting this data in tables and graphs. Here are some interesting facts from the report, summarizing the distribution of the ultra-wealthy individuals across the globe. Countries Over the past year, the world has seen an increase […]

The recent amendments made by the Constitutional Council of France to the Immigration Law reflect a significant shift in the country’s approach to immigration policy. Out of the 86 articles initially proposed, 32 have been revised or removed following rigorous scrutiny from various stakeholders, including legal experts, protestors, and members of parliament. One of the […]

Now Germany citizenship can be applied for after just 5 years of residency. There is a possibility to shorten the term to 3 years with proficiency in German at level C1, volunteering, and active participation in public life. Preservation of the original citizenship without restrictions. Repeal of the ban on dual citizenship, which also applies to […]

In Hong Kong, U.S. Treasury officials engaged Chinese and foreign banks, emphasizing compliance with new Biden administration sanctions on Russia’s military sector amidst global efforts to increase pressure on Moscow following its invasion of Ukraine. Andrea Gacki, the director of the Treasury Department’s Financial Crimes Enforcement Network, led two meetings involving representatives from Chinese and […]