In a time of potential global recession and high inflation, many people’s finances may not be in the best place at the moment. Unfortunately, in these situations, debt collectors are at their busiest trying to recover as much as they can from debtors, while minimizing losses for their clients.
Read MoreCanada recently made changes to its immigration system in the form of Bill C-19, which amends the country’s immigration act, among a variety of other laws. The bill will change how the government chooses candidates via its Express Entry system in particular.
Read MoreThe intricacies of tax law can be overwhelming for almost anyone. We will discuss and outline some of the basics you need to know about your tax obligations under the law if you are a UK citizen living abroad.
Read MoreThis week we take a look at international taxes for Canadians and US citizens living abroad! Learn more about how to navigate these tax filings if you are an expat in this week’s blog post!
Read MoreIn a major new development, the UK government as created a new Visa program specifically for applicants who have graduated from top universities outside the UK within the last five years. Applicants under this new plan are eligible regardless of where they were born, and are not required to have an offer of employment in the UK to apply. Instead, in an attempt to attract what the government is calling the “best and brightest,” applicants who have obtained a bachelor's or master's degree will be granted a two-year work Visa, or a three-year Visa if they have earned a PhD.
Read MoreIn this article, we will highlight the significance of implicit bias in immigration and visa adjudications, while outlining ways to mitigate or overcome such bias. Over the past two decades, there has been a great deal of research on implicit bias within the fields of social psychology, cognitive science, and neuroscience. Implicit bias is largely automatic and occurs below the level of conscious awareness. Legal scholars have examined the relevance of implicit bias to areas such as employment discrimination, legislative efforts, and legal decision making. Yet its relevance to immigration law remains largely unexplored.
Read MoreThe United States of America is one of the only countries in the world which taxes its citizens on their worldwide income, regardless of whether they are residents of the United States or not. This can create quite detrimental consequences for US citizens working outside the US. With so many US business and government agencies operating abroad, in countries or regions like the United Kingdom, Japan, South Korea, the UAE (think Dubai or Abu Dhabi), Bahrain, the wider Middle East, the EU and elsewhere, there are millions of citizens abroad who have to file taxes and report their income. So how do these citizens avoid being taxed in both the US and their current country of residence? We explain this in our blog post.
Read MoreIn 2018, Big Four accounting firm Ernst & Young (EY) was accused of legal and ethical violations in its audit work for a Dubai gold refiner in a subsequent court claim. The case was brought by Amjad Rihan, a former EY partner based in Dubai, who claimed he was “forced out” of the company after he identified alleged money laundering by Kaloti Jewellery International. Mr Rihan was the audit partner with overall responsibility for Kaloti in 2013. This case highlights the importance of thorough due diligence and the consequences of failing to engage in such processes.
Read MoreToday, English is the third most commonly spoken language in the world, and it has grown to become the primary language of business, academics, as well as the default language in most areas of research and professional publication. In light of this trend, it is crucial to recognize the importance of English proficiency as a part of the immigration process throughout the English-speaking world, particularly if you plan to work or study abroad.
Read MoreCybersecurity compliance certainly isn’t simple. There are countless acronyms, hundreds of controls, and many organizations find themselves completely overwhelmed. This week we explain what Cybersecurity is, and why Cybersecurity Compliance Programs are needed.
Read MoreIn recent years, even prior to the global Covid-19 pandemic, there has been an ongoing integration efforts between Middle Eastern countries and the US, UK and Europe. The pandemic, with its shared economic concerns for all nations, has served to highlight the importance of this integration and to illustrate the power of cooperation between nations.
In the post pandemic era, which heralds the threat of large scale global economic and social conflict in light of the Russian invasion of Ukraine, many governments are struggling to balance budgets, maintain economic competitiveness, and fund their activities. Therefore, many governments are trying to make their economies more attractive to investors, in order to encourage businesses to settle in and remain within their borders.
Read MoreConference of Parties (COP 26) is the 26th climate change conference that was hosted by the UK in partnership with Italy. The COP 26 was originally scheduled to take place in November, 2020 in Glasgow, UK, but was postponed for one year due to the COVID-19 pandemic. Ultimately, it took place between 31st October 2021 and 12th November 2021.
Read MoreThis week the US Department of Justice announced that it recovered US $4 bn worth of stolen bitcoin, which was taken from the platform Bitfinex in 2016. The stolen cryptocurrency was obtained from the platform via hackers who engineered around 2000 unauthorized transactions in 2016. The amounts were recovered through the accounts of the alleged money launderers Ilya Lichtenstein and Heather Morgan. The duo are also facing charges for their alleged money laundering activities.
Read MoreThe Attorneys, consultants and advisors at Borderless Counsel work with clients of all sizes and at different stages of development. In particular, we work with our clients to negotiate, structure, and complete international transactions which improve the competitive position of our clients. We look to add value to our client’s business models, and help them to attain sustainable growth. This week, we explore how our services add practical value to the functioning of our client’s businesses.
Read MoreEffective 1 January 2022, the United Arab Emirates (UAE) has changed its workweek from Sunday to Thursday (5 day-week) to a four and a half day week, with the weekend being from Friday afternoon to Sunday. The new working week applies to all Federal Government departments effective 1 January 2022. This week we explain how this new working week has been implemented in the UAE, and the possible implications of this approach to work.
Read MoreManaging large transactions and business deals can be a daunting task. For startups and SMEs who may not have access to a full fledged accounting and legal team, oftentimes key areas of major deals are overlooked. We endeavor to help you solve this problem, by providing you access to top professionals, who maintain the skills needed for the management and success of financial transactions. Even if you’re not looking to acquire professional services at the current time, it is important to consider the below listed areas in any sizeable business deal you pursue.
Read MoreWith a new surge of covid cases being witnessed across the globe, many individuals who need to travel may be wondering about what kind of restrictions or rules they will need to prepare for before and after they get on their flight. Therefore, in this week’s blog post, we summarize some of the major restrictions being put in place across some major travel destinations and jurisdictions, to help the reader get a flavour of how the pandemic is being handled across the globe. Do note, this blog is for informational purposes only, and travel restrictions are quite fluid. Therefore, the reader should re-confirm any information provided below from official sources, and should not rely on the information provided here alone.
Read MoreOn November 27, 2021, the Federal Decree-Law No. 45 on the Protection of Personal Data (PDPL) was enacted. This new law is the first comprehensive federal data privacy and protection law to be adopted UAE wide, and it aims to create a legal framework that ensures the effective governance of the management and collection of personal data. The PDPL brings the UAE's federal data protection regime in line with modern global data protection and data privacy standards, including EU's GDPR.
Read MoreToday Bitcoin and other popular cryptocurrencies are increasingly being used for cross border money transfers outside the control of government authorities. Some retail banks also are testing cryptocurrency as an exchange method. However, no global consensus on regulations governing the transfer of funds using cryptocurrencies exist at the current time. This regulatory issue increases compliance costs and opens the door to miscreants looking to circumvent regulations by moving to jurisdictions with no or weak compliance controls. In this blog post, we have tried to explain money laundering and anti-money laundering laws (AML), Know Your Client/KYC requirements and their role in AML, as well as AML in relation to cryptocurrency transfers. We also take a look at money laundering in the context of cryptocurrency use.
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