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in addition to the speculation of foreign exchange stocks and crude oil, the global rich also like to buy passports. new york times has conducted an investigation, these rich people spend an average of 2 billion us dollars (about 12.6 billion rmb) each year to buy a second or third country passport and visa. 

© image | shutterstock

among them, the caribbean countries’ passports are the most popular for the travel, investment and tax advantages. they do not have to pay personal income tax, no capital gains tax, no inheritance tax, etc., the greatest extent to avoid the loss of wealthy assets.

but! buying passports and visas to hide assets won’t work anymore!

 

october 16, 2018 – the oecd publishes the results of more than 100 cbi/rbi programs provided in the jurisdictions that have committed crs to determine which investment immigration projects may pose a high risk for crs integrity.

potentially high-risk cbi/rbi schemes are those that give access to a low personal tax rate on income from foreign financial assets and do not require an individual to spend a significant amount of time in the jurisdiction offering the scheme. 

© image | google

such schemes are currently operated by antigua and barbuda, the bahamas, bahrain, barbados, colombia, cyprus, dominica, grenada, malaysia, malta, mauritius, monaco, montserrat, panama, qatar, saint kitts and nevis, saint lucia, seychelles, turks and caicos islands, united arab emirates and vanuatu.

official notice from ministry of commerce of the p.r.c

 

• on october 17, 2018, countries such as antigua and barbuda, bahamas and dominica in the caribbean were blacklisted by the oecd.

• on october 23, 2018, among the eu member states, cyprus and malta were blacklisted by the oecd.

• on october 31, 2018, seychelles, monaco, bahrain, and grenada, which are known as tax havens, were blacklisted by the oecd.

# schemes that potentially pose a high-risk to the integrity of crs

https://www.oecd.org/tax/automatic-exchange/crs-implementation-and-assistance/residence-citizenship-by-investment/

suggestion

 

we have always advised our clients to do long-term asset planning and tax planning, rather than rushing to buy passports or other means to hide assets. in the face of the increasingly transparent trend of global taxation, we would like to give some suggestion to those have assets (company, bank account, property) in the countries of the crs list…

© image | google

 1 

please reply and upload relevant information in time if you receive bank letter or bank manager inquiry, including annual auditing update, accountant certified copy, tax-resident declaration, details of a transaction, and etc. if you are unable to confirm the bank’s needs, please contact our professional consultant to guide you.

 

 2 

you need to do auditing and update the latest directors’ information on an annual basis if you own the offshore companies (such as hong kong companies, singapore companies).

 3 

crs is to check the financial accounts of non-national tax residents in each country. the accounts opened before the implementation of crs will also be in the inventory list. 

• if you still want to keep offshore companies and bank accounts, please make up for the previous annual audit as soon as possible, let our consultants provide you with the best solution; 

• if you do not want to keep the company, please pay the tax in time and cancel the company.

 

 4 

it is essential to audit and report tax on time every year. auditing≠paying taxes, we will help you to operate your company reasonably and legally.

in the past week, two things impressed the majority of chinese people most, one was the double eleven shopping spree, the other was the movie venom.

on saturday (nov 10), the move venom made its premiere in china and as of yesterday, the box office of the movie in chinese market surpassed 500 million rmb(about 71.95million usd). i have already watched the movie, for me, it is a good and interesting movie.

before the premiere, either the promotion posters or the trailer of venom gave us an impression that venom, the big black alien monster from outer space, was a man-eating and evil creature. 

 

because the alien goo cannot only transform itself into any shapes but also can seep into people’s body to control the human host. 

 

besides that, it’s ugly face and monster like long and sharp teeth, all these make us naturally think that it is definitely a monster of hell.

 

but that is not true for chinese netizens. far from calling it an evil monster, chinese netizens think venom is adorable! 

 

you didn’t mistakenly hear it,  when you put keywords like “venom” or “cute venom” into the chinese microblogging sina weibo search box, then search results like “ venom is so cute”, “ venom angel-like emoji” will automatically pop out.

 

you think this is over? of course not. sometimes, we have to admit a fact that internet users are no way “average joes”, they are geniuses with a good sense of humor. 

look at the pictures below, these guys think there is something wrong with venom’s teeth and they want to fix it…

 

“help me to fix my teeth”

how about wearing a tooth brace?

 

“look at my shining teeth”

a confident smile

a netizen even photoshopped two big eyes for venom, making it cuter. some said that venom with big blue eyes, it still needs blond hair…

 

 

cute? adorable? you did expect this right? me too… but here comes another! on nov 9th, the sony picture china posted four pictures which show venom’s adorable and romantic image. 

 

on these pictures, venom becomes a perfect dating partner for girls. venom uses his symbiote powers to serve as a selfie-stick, an umbrella, a shopping-bag carrier, and a subway buddy. it’s adorable! 

 

“who’s that good-looking dude?”

“life’s most beautiful moment is the instant when i hold up an umbrella for you”

“shopping has become a beautiful thing ever since i met you”

“i’m holding onto happiness with both tentacles!”

 

 

the venom’s marketing name made for the chinese market is called《毒液-致命守护者》or translated into english means venom, the fatal protector. 

 

there is a news that before the premiere the sony picture china’s marketing team tried to advertise venom into an image of a good boyfriend for girls. 

 

actually, this marketing strategy adopted by sony for was specially designed for the chinese market. from my personal view, i speculate that the marketing team probably wanted to highlight the word 守护者 or protector, 

 

because the word protector has a lot of connections with 暖男 in meaning, translated into english means “warm male” which equally means good boyfriend who is very sensitive, caring male partners, the kind who do the housework and look after the kids. 

 

at least, the marketing strategy will help in selling more tickets to girls, right?

 

for many die-hard fans of marvel, either inside or outside china, both the venom’s adorable image and the marketing team’s strategy give them a big surprise, because people never expect that this a tender and romantic side of it. 

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alibaba group broke the 10 billion yuan ($1.44 billion) sales threshold within the first two minutes and five seconds after the e-commerce on sunday giant kicked off the 10th year of its iconic double 11 shopping gala.

the speed of the sales broke last year’s record of three minutes and one second, paving the way for an online shopping spree that the e-commerce giant envisions will be the largest ever in scale and reach.

© image | google

shoppers from home and abroad swarmed to alibaba’s diverse arms, including the tmall online site, fliggy travel agency, as well as delivery service ele.me, and scooped up everything from electronic devices and imported cosmetics to flight tickets and discounted delicacies.

alibaba hosted a star-studded gala on saturday night in shanghai, featuring superstar singer mariah carey and cirque du soleil to pump sales.

© image | google

 

pre-sales prior to the event were brisk, with 33 brands on tmall reporting 100 million-yuan worth of pre-orders, the company said. down payments for consumer electronics on tmall have jumped nearly six-fold year-on-year, with popular brands including apple, huawei, siemens, and dyson.

 

imported goods are set to hog the nov 11 limelight, with tmall global, the dedicated cross-border portal, providing 3,700 categories of foreign merchandise from 75 countries and regions on its platform. in the first minutes of midnight trading, the top three destinations for imported goods were japan, the united states, and south korea.

 

© image | google

the trend was predicted by research from global consultancy oliver wyman, which said that around 57 percent of surveyed consumers intended to buy overseas goods and such sales would make up one-third of total consumer spending.

a new element in this year’s online shopping spree is the participation of local services. ele.me’s on-demand platform will provide delivery services for select starbucks stores in 11 chinese cities, including full-service coverage in beijing and shanghai. in addition, 150,000 merchant partners of koubei will offer half-price discounts on catering, beauty and hair salons and karaoke bars.

nov 11 debuted in 2009 as an online antidote to the sentimentality surrounding valentine’s day. it takes its name from the way the date is written numerically as 1111, which resembles “bare branches,” a local expression for the unattached.

 

© image | google

 

today, nov 11 has become a default date for people to snap up things and binge on entertainment shows. alibaba is also using the occasion to test the limits of its cloud computing, delivery, and payment capabilities, as well as try out new business endeavors that are uprooting traditional retail.

 

to that end, alibaba teams fanned out across the nation before the event to help outlets — some 200,000 mom-and-pop convenient stores-upgrade their computer systems.

 

another 200,000 smart stores in china across the apparel, fast-moving consumer goods, beauty products, automobile, and home decor industries will help boost traffic to offline and online shopping destinations.

 

© image | google

 

at a countdown ceremony on oct 19 in beijing, alibaba ceo daniel zhang said the festival’s growth and its evolution “showcases the development of the alibaba ecosystem over time, expanding well beyond e-commerce”.

 

gross merchandise volume generated this year-albeit is projected to hit another record high but will no longer be the focus as the event evolves from a pure discounting occasion to a test-bed for new commerce initiatives and emerging technologies, said wang xiaofeng, senior analyst of forrester.

 

jack ma, the founder of alibaba

 © image | google

“we expect to see alibaba expand its business models through the buy online, pick up in-store new retail model, partnerships such as fliggy and singapore airlines, as well as technologies internationally, like the chatbot being adopted on the lazada portal,” wang said.

 

the annual 24-hour event clocked up $25.3 billion last year, eclipsing counterpart promotional activities of black friday and cyber monday of the united states combined.

winter is coming, and temperatures are about to drop sharply in most cities in china. many people in northern areas have put on their heavy winter clothes to resist the cold, including qiuku, also called long underwear or long johns in english.

traditional qiuku in china

 

long underwear is a style of two-piece underwear with long legs and sleeves normally worn during cold weather. due to its pronunciation in chinese, people call it jokingly “chill cool”.

 

when it gets colder, wearing one pair of trousers is not enough, so people will wear another pair of close-fitting trousers under the outside one.

 

ten years ago, su mang, chief editor of bazaar magazine, claimed long underwear compromised fashion. “i never allow people around me to wear long underwear,” su said on a talk show.

 

as a result, those who cannot bear the cold and bow their heads to long underwear always feel that they are at the bottom of the fashion food chain.

 

young people in china believe only grandmothers wear long underwear and refuse to wear it, no matter how cold it is.

 

in fact, long underwear was an imported product. it was introduced to china in the late qing dynasty (1644-1911).

 

king henry viii of england wears tight wool breeches with pointed shoes.

 

hundreds of years ago in england, the fashion trend of long underwear began. in the tudor dynasty of the 16th century, king henry viii liked to wear tight wool breeches with pointed shoes, becoming a fashion icon. noble people tried to follow the trend.

 

in 1915, canadian frank stanfield formally applied for a patent on long underwear. after that, long underwear became popular consumer goods for ordinary people.

 

marilyn monroe wears long underwear.

american soldiers wear long underwear during the world war ii.

 

in recent years, the discussion about whether to wear long underwear or not has been raging. people have their own reasons and want to convince others.

 

many young people refuse to wear long underwear for the reason that they are out of date and not fashionable enough. however, more people appear to be realizing the importance of long underwear, as it can keep you warm and free of illness.

 

fashion icons, like actress jing tian and singer li jian, wear it. many styles of long underwear, like leggings, are good-looking and useful for keeping warm.

 

chinese actor jing tian wears long underwear under her dress. 

 

actor michael fassbender wears long underwear in a film.

 

do not wait until you get cold to wear long underwear. do it in advance and save yourself a chill. or ignore these if you are still hiding from mosquitos. 

 

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remember to star us and stay tuned!