GR8 Global Philippines’ Post

International Headquarter Companies in SA play a pivotal role in the country's economic landscape. Established under legislation effective since 1 January 2011, SA aims to position itself as a gateway for holding companies. To qualify as an IHC, entities must meet specific criteria, including substantive requirements related to their operations. Transactions involving SA entities with IHC are treated as transactions with non-residents, emphasising the importance of these companies in facilitating international trade and investment. Reach out for assistance in this regard: info@situstrust.co.za #internationalheadquartercompanies #fiduciary #directorship #exchangecontrol #internationalmoneytransfers #legaladvice #taxadvice #crossbordertransactions Taxforum Wegkaner Twenty2Services SL Law Incorporated Hugo van Zyl Mathys Briers-Louw Stefan Le Roux

The article will explore the key changes on Beneficial Ownership and Nominee framework and to understand how this potential revamp will impact businesses across the nation of Malaysia #ssm #business https://lnkd.in/g4N3DR4b

⚖️ Setting up an offshore company? Learn about the legalities and benefits with our comprehensive guide on nominee director services. https://bit.ly/3yUpTeD #TaxOptimization #AssetProtection #GlobalBusiness

2024 Sept, 𝐖𝐎𝐑𝐑𝐘𝐈𝐍𝐆 𝐓𝐑𝐄𝐍𝐃 𝐎𝐅 𝐀𝐍𝐓𝐈-𝐄𝐌𝐏𝐋𝐎𝐘𝐄𝐑 𝐒𝐄𝐍𝐓𝐈𝐌𝐄𝐍𝐓 within the Malaysia. Another case of bending backwards to give guilty employee the benefit of not losing $$$$$$$$ for 𝐥𝐨𝐧𝐠 𝐬𝐞𝐫𝐯𝐢𝐜𝐞 𝐞𝐯𝐞𝐧 𝐭𝐡𝐨𝐮𝐠𝐡 𝐞𝐦𝐩𝐥𝐨𝐲𝐞𝐞 𝐢𝐬 𝐂𝐋𝐄𝐀𝐑𝐋𝐘 𝐆𝐔𝐈𝐋𝐓𝐘 𝐨𝐟 𝐢𝐧𝐬𝐮𝐛𝐨𝐫𝐝𝐢𝐧𝐚𝐭𝐢𝐨𝐧, 𝐠𝐮𝐢𝐥𝐭𝐲 𝐨𝐟 𝐫𝐞𝐟𝐮𝐬𝐚𝐥 𝐭𝐨 𝐨𝐛𝐞𝐲 𝐭𝐞𝐫𝐦𝐬 𝐨𝐟 𝐞𝐦𝐩𝐥𝐨𝐲𝐦𝐞𝐧𝐭. WHERE IS the court of good conscience?? What conscience?? 𝐖𝐈𝐋𝐅𝐔𝐋 𝐢𝐧𝐬𝐮𝐛𝐨𝐫𝐝𝐢𝐧𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐖𝐈𝐋𝐅𝐔𝐋 𝐛𝐫𝐞𝐚𝐜𝐡 𝐨𝐟 𝐜𝐨𝐧𝐭𝐫𝐚𝐜𝐭 𝐒𝐓𝐑𝐈𝐊𝐄𝐒 𝐀𝐓 𝐑𝐎𝐎𝐓 𝐎𝐅 𝐓𝐇𝐄 𝐌𝐀𝐒𝐓𝐄𝐑 𝐒𝐄𝐑𝐕𝐀𝐍𝐓 𝐑𝐄𝐋𝐀𝐓𝐈𝐎𝐍𝐒𝐇𝐈𝐏! Not so for a long serving employee who loses benefits if he is sacked! says the industrial court!! The court quoted Ghaiye's on transfer that: (a) There is nothing to the contrary in the terms of employment; - 𝒕𝒉𝒆 𝒕𝒓𝒂𝒏𝒔𝒆𝒓 𝒘𝒂𝒔 𝒏𝒐𝒕 𝒄𝒐𝒏𝒕𝒓𝒂𝒓𝒚!! (b) The management has acted bona fide and in the interests of its business; 𝒄𝒐𝒖𝒓𝒕 𝒏𝒐𝒕𝒆𝒅 𝒕𝒉𝒂𝒕 𝒄𝒐𝒎𝒑𝒂𝒏𝒚 𝒉𝒂𝒅 𝒔𝒕𝒂𝒕𝒆𝒅 𝒕𝒉𝒂𝒕 𝒕𝒓𝒂𝒏𝒔𝒇𝒆𝒓 𝒘𝒂𝒔 𝒇𝒐𝒓 𝒊𝒎𝒑𝒓𝒐𝒗𝒊𝒏𝒈 𝒔𝒆𝒓𝒗𝒊𝒄𝒆𝒔 𝒕𝒐 𝒄𝒖𝒔𝒕𝒐𝒎𝒆𝒓𝒔 (c) The management is not actuated by any indirect motive or any kind of mala fide; 𝑪𝑶𝑼𝑹𝑻 𝑫𝑰𝑫 𝑵𝑶𝑻 𝑺𝑻𝑨𝑻𝑬 𝑰𝑻 𝑭𝑶𝑼𝑵𝑫 𝑨𝑵𝒀 𝑴𝑨𝑳𝑨 𝑭𝑰𝑫𝑬 𝒂𝒈𝒂𝒊𝒏𝒔𝒕 𝒕𝒉𝒆 𝒆𝒎𝒑𝒍𝒐𝒚𝒆𝒆 (d) The transfer is not made for the purpose of harassing and victimizing the workmen; 𝑪𝑶𝑼𝑹𝑻 𝑴𝑨𝑫𝑬 𝑵𝑶𝑻 𝑭𝑰𝑵𝑫𝑰𝑵𝑮 𝑻𝑯𝑨𝑻 𝑻𝑯𝑬 𝑬𝑴𝑷𝑳𝑶𝒀𝑬𝑬 𝑾𝑨𝑺 𝑯𝑨𝑹𝑨𝑺𝑺𝑬𝑫 𝑶𝑹 𝑽𝑰𝑪𝑻𝑰𝑴𝑰𝒁𝑬𝑫. and (e) The transfer does not involve a change in the conditions of service . 𝑪𝑶𝑼𝑹𝑻 𝑫𝑰𝑫 𝑵𝑶𝑻 𝑺𝑻𝑨𝑻𝑬 𝑯𝑶𝑾 𝑻𝑯𝑬 𝑻𝑬𝑹𝑴𝑺 𝑶𝑭 𝑬𝑴𝑷𝑳𝑶𝒀𝑴𝑬𝑵𝑻 𝑯𝑨𝑺 𝑪𝑯𝑨𝑵𝑮𝑬𝑫 𝑻𝑶 𝑫𝑬𝑻𝑹𝑰𝑴𝑬𝑵𝑻 𝑶𝑭 𝑬𝑴𝑷𝑳𝑶𝒀𝑬𝑬."  What were the reason the company lost the case? (1) company should not reject his application to be demoted!! What a bullshit. (2) "[48] 𝑻𝒉𝒆 𝑪𝒍𝒂𝒊𝒎𝒂𝒏𝒕 𝒉𝒂𝒅 𝒔𝒆𝒓𝒗𝒆𝒅 𝒕𝒉𝒆 𝑪𝒐𝒎𝒑𝒂𝒏𝒚 𝒇𝒐𝒓 25 𝒚𝒆𝒂𝒓𝒔 𝒘𝒊𝒕𝒉𝒐𝒖𝒕 𝒂𝒏𝒚 𝒅𝒊𝒔𝒄𝒊𝒑𝒍𝒊𝒏𝒂𝒓𝒚 𝒂𝒄𝒕𝒊𝒐𝒏 𝒕𝒂𝒌𝒆𝒏 𝒂𝒈𝒂𝒊𝒏𝒔𝒕 𝒉𝒊𝒎. 𝒀𝒆𝒕 𝒕𝒉𝒆 𝑪𝒍𝒂𝒊𝒎𝒂𝒏𝒕 𝒘𝒂𝒔 𝒕𝒆𝒓𝒎𝒊𝒏𝒂𝒕𝒆𝒅 𝒅𝒖𝒆 𝒕𝒐 𝒉𝒊𝒔 𝒓𝒆𝒇𝒖𝒔𝒂𝒍 𝒕𝒐 𝒓𝒆𝒑𝒐𝒓𝒕 𝒇𝒐𝒓 𝒅𝒖𝒕𝒚 𝒂𝒕 𝑷𝑷𝑳 𝑩𝒂𝒚𝒂𝐖𝒏 𝑳𝒆𝒑𝒂𝒔" 𝐖𝐇𝐀𝐓 𝐀𝐍 𝐀𝐁𝐒𝐎𝐋𝐔𝐓𝐄 𝐁𝐔𝐋𝐋𝐒𝐇𝐈𝐓 reasoning.....COURT SAYS THE EMPLOYEE WITH LONG SERVICE IS ALLOWED TO BE INSUBORDINATE, WILLFUL BREACH OF CONTRACT!!

Last week, I had a great opportunity to engage in an insightful conversation with Mr Koh Teck Peng, our Principal, where we tackled one of the most critical steps for new business owners in Malaysia – navigating the licensing requirements after incorporation. Many entrepreneurs think that once they’ve registered their company, they’re ready to go. But in reality, ensuring compliance goes beyond incorporation. During our discussion, we covered several key areas that every business owner should keep in mind: 🔹 What’s next after incorporation? We explored the first legal steps a company must take after registering with SSM to stay compliant. 🔹 Hiring employees? There are crucial registrations you need to complete as soon as you bring on your first team member. 🔹 Setting up a physical office? We discussed the licenses required for business premises and how to stay on the right side of the law. 🔹 Special licenses for manufacturing and trading businesses: Different industries come with unique regulatory requirements, and understanding these helps prevent costly delays. 🔹 Cross-industry essentials: No matter your sector, there are other vital registrations to be aware of, which we also touched on. The conversation was a reminder that while the excitement of setting up a business is high, ensuring legal compliance is what guarantees a sustainable future. In short, getting the proper licenses in place early is key to running a smooth, legally compliant operation.

When it comes to successfully forming a company in Hong Kong, there are a few key steps that need to be followed. As a reputable corporate service provider, First Offshore Corporation can guide you through the process to ensure that everything is done correctly and efficiently. One of the first steps in company formation is […]

SSM suggests implementing a mechanism akin to a beneficial owner (BO) structure for nominees. Nominees will need to reveal their identity 🆔 , along with details regarding their nominator, and companies will be obligated to maintain a register 📗 not only for beneficiary owners but also for nominees ❗ #SSM #CompaniesAmendmentBill2024 #BO #nominees

Sadly, I read the below comment...and it is so honest and true...it is time for an overhaul.. " this is an indictment of leadership in Canada's public service 2024" There are many brilliant leaders in the public service, I have seen them , and worked with them. "But" I have also seen them being weighted down with processes and egos that promote lack of leadership accountability or empowerment, driven by the higher echelon, particularly in higher profile situations. Processes that ensure that notjing sticks to the highest leaders if things go sideways, and then they rebrand or rename an initiative over and over again, as it continues yo fail. These brilliant leaders, then get so beaten down they tow the line, and become order takers vs leaders, because they have no choice...it is a culture issue. I believe in the work our public service does, but we do not really train leaders there..to bevome leaders, to have vourage, to challenge, to innovate, to push when required. Because of this dictatorial silent culture of avoid accountability, increase chaos, not providing real authentic transparent alignment across all areas, no silos...it is easy to accept, and be manipulated from within.

You are right @Martin McGarry. Although I’m no longer directly involved in the so-called Professional Services Industry, I am not surprised to read Auditor Generals report, all the firms named. Frankly it’s about time. How many times over my 20+ years in the industry as a recruiter or writer – it was demanded of me to “make it work.” “do whatever it takes”. As tendering now moves to a Solutions based approach – no “body shop” can compete, or propose solutions like the IBM’s, SAP’s Oracle’s etc. – means contract consultants will be passed through the Tier 1 firms at TA. Consultant deliverables will now be reported to the tier 1 firm not the gov’t tech auth. Mass layoffs on the horizon. What’s the need for Recruiters – If you have a team of 4 maybe 6 recruiters, most likely only need 1 to 2. Proposal Writers etc. You have 3, 5 maybe 6 on staff. No need anymore. Maybe 1 to 2 to complete Task Authorizations – that will come from Tier 1 firms. Resources now are only presented at TA stage. Account Managers, Directors, VP’s – all with Professional Services at the end of those titles. Not needed – can be integrated into 1 role. Add in AI – Add in Government Hiring freeze on the way --- Sell – sell – sell 

When it comes to successfully forming a company in Hong Kong, there are a few key steps that need to be followed. As a reputable corporate service provider, First Offshore Corporation can guide you through the process to ensure that everything is done correctly and efficiently. One of the first steps in company formation is […]