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September 23, 2019

With the might of the Chinese government supporting them, family businesses in China have flourished in the last 40 years. But while business is thriving, many are facing succession challenges borne from a lack of heirs willing to take the helm. Susan Lingeswaran takes a look

On 13 December, 1978, not long after China was out of the grip of Mao’s Cultural Revolution, then-leader Deng Xiaoping delivered a radical speech to his Communist Party proposing China learn from richer countries, allow workers and peasants to compete to get ahead, and give enterprises the power to make decisions or try new ventures.

Just five days later, a council of 300 party elite agreed to adopt Deng’s vision, and China kicked off its journey from economic seclusion to becoming the world’s factory.

September 16, 2019

While some families have one vehicle for their charitable giving, the 11th-generation Hoare family channel their generosity and financial acumen into a suite of philanthropic ventures. James Beech speaks to Alexander Hoare

The family behind England’s oldest privately-owned bank have been giving to charitable causes for more than three hundred years. Now, both its principal and millennial scion are investing their time and talents into a fresh initiative to support early-stage social enterprises at the grassroots, where the need is greatest.

August 26, 2019

Flying in a private jet is the ultimate status symbol, but owning one isn’t the only way to travel. Alison Ebbage considers the practical and cost-effective alternatives.

Private aviation solves the perennial time shortage issue perfectly and provides a luxe experience to those able to afford it. Today there are more options than ever—ownership, fractional ownership and charter, which in turn divides into different models too—depending on whether the charter is for the seat or the plane and whether the access is on a subscription or on-demand basis.

August 19, 2019

The age of quantum computing has dawned and tech giants and start-ups are racing to make the next generation of supercomputers applicable to our daily lives. Alison Ebbage reports on what it means for family businesses and investors.

Quantum computing could turn the technology world on its head. By harnessing properties beyond the grasp of traditional Newtonian physics, the potential is to transform the way that computers look at data and the speed at which they can process and analyse it.

August 12, 2019

A surge in the number of billionaires has made Asian family offices an El Dorado for wealth managers lured by the prospect of bigger pay packages and more varied work.

A surge in the number of billionaires has made Asian family offices an El Dorado for wealth managers lured by the prospect of bigger pay packages and more varied work.

August 12, 2019

Third-generation steelmakers Radha Smelters have had their fair share of ups and downs, which is why educating the next generation, mixed with on-the-job experience, is so highly prized. Nicholas Moody reports

August 5, 2019

An idea borne from a classroom Eureka moment provided the basis for a groundbreaking field book for families. Randel Carlock discusses the vibrant guide he and co-author Keng-Fun Loh created to help families prepare for their own lunar landing.

Your book, A Family Business on the Moon, has an unusual title—where did the idea come from?

It came from (Canadian third-generation family business) Bata Shoes. They were training with me at INSEAD. We were working on their vision, and one of their sons, Charles, called out: “We’ve got shoe stores all over the world, let’s put one on the moon!” I thought, “What a great title!”

Who did you have in mind when you wrote it?

July 29, 2019

Tax department clarifies Cyprus 60-day rule for nominee directors

Effective as of 1 January, 2017, the so-called “60 day rule” for the purposes of establishing Cyprus tax residency for individuals is of importance to those seeking Cypriot residency.

Under the rule, individuals are considered tax residents of Cyprus and benefit from the island’s tax regime if they:

• Reside in Cyprus for a period of 60 days

• Do not reside in any other single country for a period exceeding 183 days in total

• Are not tax resident in any other country

July 22, 2019

Congratulations, you have chosen a very special country to invest in: one with a stable economy in the last few years, an easy procedure for company registration, a transparent tax system, friendly business environment, minimum paper documentation and a short list of taxes and social security obligations. It is our pleasure to assist you in this process, but before you start you have to make some decisions in order to be sure you have taken the most appropriate form, way and decision as a whole for your future business activities. 

The Commercial Law lists the following types of legal entities, which could be established in Bulgaria:

• Joint-stock company (AD);

• Partnership limited by shares (KDA);

• Limited liability company (OOD), including. Single-member limited liability company (EOOD);

• General partnership (SD);

• Limited partnership (KD).

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