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| Dear Friend of Zetland, |
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| There is an (allegedly) old Chinese curse “may you live in interesting times”. Certainly in Asia we are currently experiencing a lot of change and unfamiliar situations. For example the recent Malaysian election which confirmed my long held belief that democracy is really only about getting rid of bad governments since no-one knows how to elect a good one. Add to the list the US/Chinese trade negotiations, the US/North Korea possible summit; the reimposition of US sanctions on Iran, etc. While turmoil and novelty is not necessarily good for everyone, change does bring opportunities. At Zetland we are always keen to explore new possibilities with our clients and do not believe in offering yesterday’s solutions to today’s challenges. |
| One of Zetland’s areas of interest at present is blockchain technology and how it might impact businesses in the future. I see three main areas of application: |
- Cryptocurrencies – eg Bitcoin and similar
- Securities – Initial Coin Offerings, etc
- Trading activities
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| Until there is clearer regulation and adoption of standard platforms cryptocurrencies and securities will remain difficult and potentially treacherous. However I think that trading could be a huge beneficiary of blockchain technology. Importing and exporting remains a complex, highly document intensive process which depends upon trust between parties. (Think back to the days of paper air tickets and the benefits that came from computerising them.) Blockchain has already been used in oil trading and many other applications are being looked at around the world. |
| As the summer approaches rapidly - it’s already very hot in Hong Kong – there will be the inevitable absences of some Zetland staff on holiday. Also the typhoon season is upon us and can cause a shutdown with little advance notice. There are some new people at Zetland who will feature in the next newsletter. Clients or potential clients may always contact myself or Marcin Galas in the first instance for assistance. |
| Wishing you all a pleasant summer. |
Yours sincerely,
James C Sutherland
Chairman
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| UK’s Overseas Territories to Introduce Public Ownership Registers |
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On 1 of May, the Sanctions and Anti-Money Laundering Bill was passed in the UK Parliament with an amendment that would require UK Overseas Territories to introduce publicly-accessible registers of companies’ ultimate beneficial owners (UBOs).
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| Roles and Responsibilities of a Singapore Resident Director |
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Singapore has consistently been ranked as the easiest place for setting up business, do business and one of the most competitive economies worldwide by key ranking reports by top institutions like the World Bank and the World Economic Forum.
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| China Rolls out Seven Tax Cuts to Aid Innovation and Small Businesses |
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China will make further tax cuts worth over 60 billion yuan (about 9.5 billion U.S. dollars) to drive innovation and entrepreneurship and boost the development of small and micro businesses.
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| Future Asset Protection Planning with Belize Limited Liability Companies |
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The Limited Liability Company (LLC) has become popular because of the combination of direct management and limited liability characteristics. An LLC is a legal entity with separate rights and responsibilities distinct from its members and managers.
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