Uniwide - Business Setup in 30+ Jurisdictions & More

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Uniwide - Business Setup in 30+ Jurisdictions & More

Wide range of international corporate services. Business setup in 30+ jurisdictions. Offshore company formation. Accounting services.

Assistance in opening bank accounts. We are an international corporate services provider which specialises in the registration of companies in various jurisdictions, including the UAE, United Kingdom, Latvia, other European countries, Seychelles, BVI and other offshore zones, etc. We provide consultation, corporate and accounting services for companies in various jurisdictions, assistance in opening accounts in international banks and international tax planning support.

05/06/2026

Hong Kong company reporting, tax and audit – what directors should keep in view.

Hong Kong 🇭🇰 is not an offshore zone. Companies must meet clear corporate, accounting, audit and tax duties.

In our work at Uniwide, we often see that the key risk is not the tax rate itself, but missing the evidence and filings that support the company’s position.

Key points for Hong Kong companies:

📌 Annual Return – form NAR1 must be filed with the Companies Registry within 42 days after each incorporation anniversary.

📌 Company changes – changes to directors, secretary or registered office must usually be reported within 15 days.

📌 Accounting records – records must explain all transactions, show assets and liabilities, and be kept for 7 years.

📌 Audit – financial statements must normally be audited by a Hong Kong auditor. Small companies are not exempt, although dormant companies may be.

📌 Profits tax – Hong Kong uses territorial taxation. Hong Kong-source profits are taxed at 8.25% on the first HKD 2 million and 16.5% above that.

📌 Offshore profits exemption – it is not automatic. The company must claim it and be ready to show where contracts, staff, suppliers, customers and logistics are located.

Since 2023, multinational enterprise groups must also check the special rules for certain foreign passive income, including interest, dividends, disposal gains and intellectual property income.

04/06/2026

Panama crypto company regulation – what is licensed, and what is not.

Panama 🇵🇦 remains a flexible option for crypto businesses operating outside the country, but “no crypto licence” does not mean “no rules”.

In our work at Uniwide, we often see one key misunderstanding: an offshore Panama crypto company may not need a securities, banking or virtual-asset service provider licence, but it must still meet strict transparency duties.

Key points to know:

🔹 Crypto assets are not treated as securities under the position of Panama’s securities regulator, so an offshore company does not need a broker-dealer or investment-adviser licence for pure crypto activity.

🔹 Banking rules usually apply only if the business starts acting like a bank, for example by taking fiat deposits from the public.

🔹 Offshore status must be kept clean: no local office, no Panamanian staff, no services offered to Panamanian residents.

🔹 Beneficial owners must be reported through the resident agent, and accounting records must be filed annually, typically by the end of April.

🔹 Banks and payment providers will still ask for the source of funds, business model and internal anti-money-laundering checks.

29/05/2026

British Virgin Islands companies in 2026 – flexible, but no longer “closed” structures.

The British Virgin Islands 🇻🇬 remains a widely used jurisdiction for holding companies, asset ownership, investment vehicles and cross-border projects. At Uniwide, we often see one point being misunderstood: its flexibility now comes with clear compliance duties.

Key points to know:

• A company can be registered remotely through a registered agent, with no minimum share capital and no requirement for local directors or shareholders.

• The tax regime remains neutral for business carried on outside the British Virgin Islands, with no capital gains tax, value-added tax or withholding tax on dividends, interest or royalties.

• Transparency rules have increased. Companies must file information on members, directors and beneficial owners. Current directors’ names are publicly searchable, while other details remain restricted.

• Annual obligations matter. Economic substance reports are due within six months after the financial year-end, and annual returns within nine months.

• Government fees are due by 31 May or 30 November, depending on incorporation date. Late payment can lead to penalties and strike-off.

28/05/2026

UAE wage payment rules are set to change from 1 June 2026 🇦🇪.

UAE wage payments in the private sector will move to a stricter timetable. In our practice at Uniwide, this is the kind of change we would expect employers to review early, especially where payroll is processed close to month-end.

The key change is simple but important: wages for the previous month must be paid by the 1st day of the following month. The former 15-day grace period will no longer apply, so any payment after the 1st will be treated as delayed.

Employers will be treated as compliant only if at least 85% of total wages are transferred on time through the Wage Protection System, which is the official salary payment monitoring system used for many UAE employers. This threshold does not reduce what employees are owed.

Delayed payments may lead to electronic monitoring, warnings, suspension of new work permits, penalties, automatic labour dispute registration, and, for larger employers, asset seizure or travel restrictions for responsible persons.

Payroll calendars, approval chains, and payment submission dates should be checked before the new deadline applies.

19/05/2026

Seychelles companies: tax and reporting duties to check in 2026 🇸🇨.

Seychelles company rules have become more detailed in recent years. In our work at Uniwide, we see that the main issue is no longer only where a company is registered, but also where its income comes from and whether its records are complete.

For local Seychelles companies, business tax applies at 15% on the first Seychelles rupees 1,000,000 of taxable income and 25% above that. Small businesses with annual turnover below Seychelles rupees 1,000,000 may use a 1.5% turnover tax regime.

Local companies also face stricter reporting. They must file annual returns, keep registers of directors, members and beneficial owners, and file audited financial statements.

Seychelles International Business Companies usually have lighter filing duties if they do not earn Seychelles income. However, they must still keep accounting records for seven years, maintain registers, update beneficial ownership information and, in many cases, provide a financial summary to the registered agent 📌.

For companies in multinational groups, passive income may be treated as Seychelles-sourced unless enough economic substance is shown.

13/05/2026

Many people think that getting a UAE residence visa is difficult. In practice, if the company has already been registered, it is possible to arrange a visa for yourself or your employees quite quickly.

In this video, we explain:
• how to get a UAE residence visa
• how to arrange visas for employees
• how long the process takes
• how visa quotas work in free zones
• what determines the number of visas available to a company

📌 In some free zones, the number of visas is limited if the company uses a virtual office, while in others it is possible to obtain more visas even without a physical office.
Watch the video to understand the key points.

12/05/2026

Trade License Suspension in the UAE: when it works, and what the process involves

Trade license suspension in the UAE lets a company pause operations without closing the legal entity. That means the business keeps its name, registration number, tax profile, and corporate history while activity is on hold 🇦🇪

In our work at Uniwide, we often see that suspension is most relevant when owners are restructuring, waiting for better market conditions, or trying to reduce costs without losing the company itself.

A key point is that there is no single UAE-wide procedure. Rules depend on the regulator. In mainland Dubai, the licence must already be expired before an application can be filed, and all employee visas, as well as the Establishment Card, must be cancelled first. In the Dubai Multi Commodities Centre free zone, the process is broader and may also require lease termination, an auditor’s letter, a board resolution, and a written explanation for the pause.

During suspension, the company must not trade, issue invoices, sign contracts, or receive payments. All fines and obligations should be cleared in advance.

08/05/2026

UAE tax penalties changed from 14 April 2026

The UAE has reduced several administrative tax penalties, and the new rules are more straightforward to apply. In our work at Uniwide, one point stands out for businesses in the UAE 🇦🇪 – the cost of some common tax mistakes is now materially lower, but key filing and Value Added Tax obligations still remain unchanged.

Among the main changes:
• late tax payment now triggers a penalty of 14% per annum, calculated monthly on the outstanding amount
• filing an incorrect tax return now carries a 500 AED penalty
• failing to provide records in Arabic on request now costs 5,000 AED instead of 20,000 AED
• penalties linked to Voluntary Disclosure have been reduced, including a 1% monthly penalty on the tax difference in certain cases

At the same time, some penalties have not changed, including 10,000 AED for failing to register for tax and 1,000 AED for a first late tax return filing.

The practical point is simple 📌 lower penalties do not remove the need for accurate records, correct returns, and careful deadline tracking.

29/04/2026

How to get a UAE Tax Residency Certificate

A UAE Tax Residency Certificate can be important for both companies and individuals with cross-border income 🇦🇪 In our work at Uniwide, we often see that this document is not only used for double tax treaty claims, but also requested by banks and foreign counterparties as part of compliance checks.

The main point is simple – the certificate confirms your tax connection to the UAE for a specific period and for a specific purpose.

A few details matter more than many people expect:
• it is issued through the EmaraTax portal
• the Federal Tax Authority usually decides within 10 business days
• it is valid for 12 months only
• for treaty use, one certificate normally applies to one country only
• newly incorporated companies that have not yet filed corporate tax returns can apply only after 12 months from incorporation

Eligibility is different for companies and individuals. For example, companies may qualify through incorporation or effective management in the UAE, while individuals usually need to meet physical presence and connection tests.

28/04/2026

Hermes Bank in Saint Lucia is in liquidation

Hermes Bank in Saint Lucia is undergoing compulsory liquidation and, as of April 2026, it is no longer carrying on ordinary banking business. 🇱🇨

The process began when Saint Lucia’s Financial Services Regulatory Authority placed the bank into receivership on 10 February 2025. A petition for compulsory liquidation followed on 11 April 2025, and the bank effectively stopped operations when liquidation began in June 2025.

A key point for depositors and creditors is that claims are not automatic. The liquidator is now realising assets and settling creditor claims, and affected parties must formally submit their claims to take part in any distribution.

It is also worth noting that Hermes Bank still appears on the regulator’s list of licensed international banks, but only for regulatory purposes while the liquidation is being completed.

The published reasons include undisclosed statutory non-compliance and significant legal claims against the bank.

Continue reading on our website – link in the first comment 🔎

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