Chinese Edition           March, 2018 | www.zetland.biz/ Dear Friend of Zetland, March this year saw the licensing of all Corporate Service Providers and Trust Companies in Hong Kong. With 30 years of service under our belt, Zetland welcomes this move, where providers with sound policies and relevant staff will flourish. Our compliance team and in-house legal are effectively dealing with all necessary matters. The new licensing regime for trust and company service providers (“TCSPs”) came into force in Hong Kong on 1 March 2018. There is transitional period of 120 days during which TCSPs have to apply for a license. During this period Zetland is deemed to have been granted a license to carry on a trust or company service business. A TCSP license will be valid for three years. We would like to welcome Andrew Coombs, who will be representing Zetland in London and the EU, bringing Zetland even closer to our European clients. Should you have any queries on how Zetland can assist your business, Andrew will be happy to discuss our offering with you (andrewc@zetland.biz). Hong Kong will be celebrating with public holidays on Friday 30 March and Monday 2 April, which will coincide with yet another day on Thursday 5 April celebrating the Ching Ming Festival. Zetland Hong Kong office will be closed on those days, giving our staff a well-deserved rest from their hard work. We want to take an opportunity to wish our clients a Blessed Easter, and a wonderful long weekend. Yours sincerely, Marcin Galas Managing Director Hong Kong’s Anti-Money Laundering(AML) Reforms Hong Kong’s Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) (Amendment) Bill 2017 (the Bill) comes into force on 1 March 2018. [More...] Singapore Budget 2018 Highlights Minister for Finance, Mr Heng Swee Keat, delivered the Singapore’s Budget Statement on February 19, 2018. The theme of the budget was Together, A Better Future. [More...] Cryptocurrency Issuer Ripple Enters China Market Cryptocurrency issuer Ripple has got its foot in the door of the Chinese market by signing a partnership agreement with LianLian International, a Hong Kong-based payment services provider. [More...] New Amendments to the International Business Companies Act (Belize) A gentle reminder in regards to the new amendments made to the International Business Companies Act, Chapter 270 of the Laws of Belize, Revised Edition 2011. Please be advised that, companies must settle their 2018 annual renewal fees to proceed with the amendment to Memorandum & Articles of Association prohibiting bearer shares. [More...] Zetland Tax Advisors News US Tax Reform: Impact on Individual Taxpayers On 20th December 2017, the US Senate and House of Representatives approved the final version of the Tax Cuts and Jobs Act. The tax reform includes significant changes for both business and individual taxpayers. The changes are effective beginning in 2018 and expire after 2025. Beginning in tax year 2026, modified provisions would revert to 2017 law, as adjusted for inflation. Here are some of the provisions affecting individual taxpayers. [More...] Upcoming Holidays Hong Kong : Mar 30- Apr 2, Apr 5 China : Apr 5-7 Singapore : Mar 30 Belize : Mar 30- Apr 2 © 2018 Zetland Fiduciary Group Limited, All rights reserved.