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we want to see the justice eventually done on july 8th!

brendt christensen, a former university of illinois at urbana-champaign (uiuc) doctoral student, was found guilty monday of kidnapping and killing zhang yingying, a visiting chinese scholar at uiuc in 2017.

a 12-member jury at a federal court of peoria in the u.s. state of illinois unanimously ruled that christensen was guilty on all three counts of the charge against him, namely kidnapping resulting in the death of zhang in 2017; and two counts of making false statements to fbi.

 

it took less than two hours for the jury to make the decision after the prosecutor and the defense finished their closing statements on monday morning.

 

we want to see the justice eventually done on july 8th!

© image | google

in a following press conference outside the courtroom, zhang ronggao, father of zhang yingying, told xinhua he was satisfied with the verdict, and further hoped the justice will be done in the upcoming penalty sentence, which is scheduled on july 8 when the same jury will decide whether christensen deserves the death penalty.

 

zhang’s mother broke into tears standing beside zhang’s father.

 

zhang, a 26-year-old visiting chinese scholar, went missing on june 9, 2017, after getting into a black saturn astra about five blocks from where she got off a bus on her way to an apartment complex to sign a lease.

christensen was arrested on june 30, 2017, after being caught on tape pointing out people he described as “ideal victims” during a vigil in zhang’s honor. but he pleaded not guilty.

 

we want to see the justice eventually done on july 8th!

saudi arabia charges foreigners $213,000 for permanent residency

saudi arabia has opened applications for a permanent residency program designed to attract foreign investment to the kingdom, but it will cost a hefty 800,000 riyals ($213,000).

saudi arabia charges foreigners $213,000 for permanent residency

saudi arabia charges foreigners $213,000 for permanent residency

there’s also a cheaper option, with a one-year renewable residency costing 100,000 riyals. the so-called premium residencies will allow foreigners to buy the property and do business without a saudi sponsor, switch jobs and exit the kingdom easily and sponsor visas for family members, according to the website for registrations.

saudi arabia charges foreigners $213,000 for permanent residency

© image | google

as well as the paying the high fee, applicants must be at least 21 years old, prove financial solvency and have a clean criminal record and bill of health.

 

saudi arabia charges foreigners $213,000 for permanent residency

 

the program approved in may is the latest sign of how the quest for non-oil revenue is prompting gulf nations to rethink the role of foreigners in their societies. 

it’s a landmark move in a region where many overseas workers are subject to some of the world’s most restrictive residency rules. 

saudi arabia charges foreigners $213,000 for permanent residency

© image | google

the united arab emirates approved a plan to allow wealthy foreigners to apply for a 10-year stay, while qatar passed a law that’ll grant some permanent residencies.

 

the idea for a long-term saudi residency program was first floated in 2016 by crown prince mohammed bin salman, as a part of his plan to reduce the economy’s reliance on oil and boost foreign direct investment. 

saudi arabia charges foreigners $213,000 for permanent residency

 

at the time, he estimated the program would generate about $10 billion in annual revenue by 2020.

 

while saudi arabia is seeking to encourage the affluent to stay, monthly fees imposed on foreign workers and their families, along with sluggish economic growth, have prompted hundreds of thousands of expatriates to leave. the levy is designed to spur private businesses to hire saudi nationals.

 

saudi arabia charges foreigners $213,000 for permanent residency

© image | google

the new permanent residency system could prove controversial among saudis at a time when unemployment is at 12.5%, nationalism is surging and xenophobia is not uncommon. 

slogans like “saudi is for saudis” are common on social media, and a recent opinion piece in a newspaper argued that the kingdom could deport all its lebanese residents without consequence.

 

 

 

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china is cracking down on foreign names!

china has launched a nationwide battle against “non-standardnames of places as these names indicate the worship of foreign things, which are exaggerated or just bizarre.

china is cracking down on foreign names!

© image | 中华人民共和国民政部

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in the latest move, the department of civil affairs of south china’s hainan province released a document on its official website on june 11, listing 84 “non-standard” names of places around all 12 cities of the province.

 

china is cracking down on foreign names!

© image | 海南省政府

among them, 15 hotels owned by the vienna hotel group are on the list because of the usage of “vienna” in location names.

 

china is cracking down on foreign names!

© image | google

based in shenzhen, south china’s guangdong province, the vienna hotel group stated through its sina weibo account on wednesday that its brand name was legal and was registered by the trademark office under the state administration for industry and commerce in 2012 and it is still valid today.

 

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in response to the statement by the vienna hotel group, shi qingli, deputy director of the department of civil affairs of hainan province told the media that “vienna” was registered as a trademark. the campaign is not intended to clear up trademarks; however, trademarks cannot be extended to be used as a location name.

 

china is cracking down on foreign names!

© image | 维也纳

besides “vienna,” “victoria garden“, “heidelberg hotel” and other names like “119 acre-feet community” and “156 humanity palace” are on the list because they are “bizarre.”

 

separately, the local government of xi’an, northwest china’s shaanxi province has also started a campaign against non-standard place names, 18 of which are names of resident communities with foreign elements.

 

china is cracking down on foreign names!

© image | 西安市人民政府

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other provinces such as south china’s guangdong, east china’s zhejiang, central china’s henan and northwest china’s gansu provinces have also launched similar campaigns.

 

china is cracking down on foreign names!

© image | 广东省民政厅

huang hongxi, a staff member of the department of civil affairs in hainan, told news site thepaper.cn that the notice is in the process of being publicized, and they are willing to listen to different voices and will have further discussions with industry experts and representatives from different residential communities.

 

huang also said that the new regulation is helpful in promoting chinese’s culture confidence.

 

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although some chinese people have been blindly worshiping foreign things and fawn over foreign countries, in recent years, with the improvement of china’s national strength and self-confidence, more and more people are calling for localization.

 

many net users support the campaign, claiming that names of places should have chinese characteristics.

 

a tianjin based real estate insider told the global times on monday that some developers want to attract potential consumers by using exocentric names on their projects.

 

china is cracking down on foreign names!

© image | google

i think the policy is well-intended. if we all blindly follow foreign names and foreign elements, it is no doubt harmful to our culture confidence,” liu yang, a beijing-based cultural critic told the global times on wednesday.

 

on the other hand, there are some people who believe that it is fine to have some foreign names.

 

china will never close its door to the outside world, and the tolerance of multiculturalism is also the embodiment and foundation of the cultural confidence of our nation. confidence is not the narrow-minded confidence but inclusiveness,” said a weibo user.

 

there is a vote in weibo, initiated by china daily since june 18, showing that 4039 people disagree with this battle with the thought that this is a normal phenomenon; what’s more, there are  2139 people who support it until now. 

china is cracking down on foreign names!

china is cracking down on foreign names!

© image | weibo

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after long-term zero declaration without auditing, he received..

after long-term zero declaration without auditing, he received..

under the closure tide of offshore accounts, many clients are asked by these major banks in hong kong to submit files. generally, as long as your company does an annual return all the time, it’s easy to collect the required information. however, there is an important file in it: the latest financial report, issued within the last 12 months!

after long-term zero declaration without auditing, he received..

© image | google

in fact, many clients wouldn’t finish the audit report and submit profit tax return on time, some even haven’t done accounting and audit since establishment. 

 

failure to provide an audit report within the time required by the bank result in the closure of the account.

 

after long-term zero declaration without auditing, he received..

© image | google

how to judge whether your hk company should do zero declaration or accounting and audit?

in hong kong, no matter an hk company have the operation or not, they all need to make accounting and audit before filling in profit tax return.

after long-term zero declaration without auditing, he received..

© image | google

as long as you conduct a business transaction or activity in the name of the company, you are deemed to have started business, that is, you must do the audit. 

 

it can be judged by the following aspects: if it meets one of the aspects, it is a business operation:

  1. transaction records in the bank account;

  2. import and export records from government customs and logistics companies;

  3. purchase and sales relationship with hong kong merchants;

  4. hire an employee in hong kong;

  5. allow or authorize the use of patents, trademark designs and other information in hong kong;

  6. allow or authorize the use of movable property in hong kong to collect rent, rental fees, etc.;

  7. entrust someone to do business in hong kong;

  8. other profits derived from or arising in hong kong.

after long-term zero declaration without auditing, he received..

© image | google

besides, what are the serious consequences if the audit report is not supplemented?

  • the tax bureau will self-assess the tax and multiply by three, and the amount of the fine will be increased with time.

  • at the same time as the high fine is imposed, the hong kong court may be subpoenaed and the court will sue the company’s directors and shareholders in accordance with the relevant regulations of the company law.

  • if the tax owed has not been paid, the company will be frozen by the tax bureau, blacklisted or forcibly canceled.

  • the credit of directors and shareholders will be affected simultaneously. there will be any impact on managing hong kong business or exit in the future. for example, if you apply for hk bank account again, bad records shall affect the success rate of opening account.

  • tax evasion is a criminal offense. the hong kong government has very strict tax and fines regulations. the maximum penalty is a fine of $50,000, plus a fine equal to three times the tax reduction and may be detained and sentenced to imprisonment after entry for 3 years.

the audit report is very important for maintaining the company’s hong kong bank account. in fact, it is not difficult for hong kong companies to conduct an audit.

after long-term zero declaration without auditing, he received..

© image | google

hacos has always been committed to providing customers with comprehensive and reliable financial planning, in-depth understanding of the customer’s operating model to provide the most appropriate method for customers, successfully complete the accounting and auditing of hong kong companies, and enable customers to operate legally in hong kong. 

under the implement of crs, it’s becoming increasingly important to have a compliant tax planning and timely tax declaration!

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