Our consultancy services encompass a wide range of corporate structures and solutions to see you through every stage of your business lifecycle.
White November Consulting has been helping companies and individuals create wealth since 1999. Through our extensive experience, we have developed sophisticated, tailor-made solutions and corporate services to benefit a variety of clients from start-ups to multinational corporations.
The implementation of cross border corporate structures offers many benefits that allow our clients to maintain and enhance their revenue.
Our solutions are largely based on utilising the advantages provided by the current tax legislation in the EU member states Malta and Cyprus.
White November Corporate Services will help you decide on the most beneficial jurisdictions in which to incorporate your company. As residency will be determined by the country in which the company is managed and controlled, White November will develop the most efficient structure, and provide the necessary management and administration services for the jurisdiction.
Redomiciliation of a company registered in one jurisdiction is an effective method of transferring the ownership of assets and liabilities to another jurisdiction without transferring the assets and liabilities to another legal entity, which may create adverse tax consequences. White November can take care of any aspect of your company redomiciliation.
Companies are subject to an increasingly complex number of compliance regulations and requirements; rules which are constantly evolving and shifting focus. Whether you require the creation of company regulatory manuals, an acting MLRO, an acting compliance officer, or general assistance with compliance, White November Corporate Services can manage all manner of compliance solutions.
From corporate and complex financial structures, to individual and single entity businesses, White November provides a wealth of experience and industry-leading knowledge tailored to each unique organisation and owner.
White November’s compliance specialists can offer your company solutions including:
Exit strategies and solutions are developed when preparing for relocating a business to another country, selling a business, retiring, or planning inheritance.
Most countries apply some type of exit taxation, imposed as capital gains tax on a company’s assets and dividends. However, in its effort to promote free movement and establishment, the EU closely monitors its member states and their ways of imposing tax.
There are several options for a company considering exit strategies. Structuring ownership through a holding company before sale, restructuring the company within the same jurisdiction, relocation to another country that offers tax benefits, and considering retirement abroad are just some of the options that White November can help you to plan for and execute.
Companies registered in Malta, abiding by Maltese fiscal and statutory laws, require a level of expertise to ensure that they can follow all regulations satisfactorily.
White November’s experienced staff members will ensure that your company or fund’s statutory records and books are maintained correctly, that administrative requirements are met, that annual returns are filed, among many other services. We also provide:
Maltese companies are required to have a company secretary in compliance with the Companies Act 1995. The company secretary is then responsible for ensuring the company’s complete compliance with all statutory responsibilities.
White November Corporate Services can provide a competent and experienced company secretary for your entity to ensure that you are in total adherence with local laws and regulations.
Some responsibilities of the Company Secretary include:
In Malta, it is a requirement of the Companies Act that a company has at least one director appointed to the Board of Directors, this can be an individual or a corporate entity. All company directors are listed in the public registry.
White November provides directorship solutions for various businesses. We can supply both corporate and individual Directors, with hands on commercial and board room experience. We provide directors for companies registered in Malta, ensuring the company’s effective management and control, and providing full management and corporate administration services while acting as Directors.
Some responsibilities of a director include:
Malta`s and Cyprus geographic location together with its unique tax and business environments makes both jurisdictions the ultimate countries for investors and businesses moving into Europe and for European business expanding internationally. Malta and Cyprus offers many key benefits that contribute to the success of business and investments and White November is well placed to ensure this success.
Tax is only one of many needs. We understand the fast changing requirements of today’s world and we adapt, develop and structure the tax planning to our clients’ needs. Our approach is proactive and innovative and team supports clients with a full range of tax services with care and confidentiality.
Our business tax advisory service is comprehensive, offering services which include:
Compliant tax planning works to support tax regulations and obligations as closely as possible with a business’s strategic vision. In doing so, it helps minimize tax liability and increase the resources available to grow the business.
The tax compliance services we offer include:
Cyprus is well established as a favorable jurisdiction in Europe for business structuring and international tax planning. By ensuring proper long-term oriented tax planning and structuring are optimized of the Cyprus Company in the International Tax plan is in place that will provide tax optimization and thus having a return on investment. Cyprus has a distinctive combination of advantages including a unique location, solid legislation and strong professional environment. These factors and more have resulted in Cyprus becoming one of the most attractive countries for the incorporation of International Business Companies (IBCs) in Europe over the last decade.
Principally, all Cyprus Tax Resident companies are taxed on the worldwide income accrued or derived from sources in Cyprus and abroad. A company is considered as a Resident Cyprus company if it is managed and controlled in Cyprus. There is no actual definition on the term “managed and controlled” according to Cypriot legislation. However, the tax authorities in Cyprus consider a company to be managed and controlled in Cyprus if all the below criteria coexist:
The Corporation Tax in Cyprus is 12.5% which is uniform and it applies on trading profits, making it one of the lowest in Europe.
Moreover, Cyprus companies have some exemptions that can further reduce a company’s tax bill on income that is not taxable in Cyprus, for example:
If a company incurs a loss during a tax year, then this loss can be carried forward and used for tax relief of next year’s profit. Similarly, in case the company does not make profit then it can utilize the accumulated losses against the first available profits. The offset against the profit must arise during the next 5 years that the losses were created, otherwise this carry forward opportunity will be lost.
In case of Group of Companies, the losses that arise in a company can be utilized to reduce the profit of another company within the same Group of companies. A Group of companies is considered a Holding Company and its subsidiaries whereby the Holdings company holds at least 75% of the subsidiary directly or indirectly among companies of the same group for the whole year. Losses that are brought forward cannot be utilized for Group relief, since a Group can only utilize the current losses.
A company is also considered to be a member of a group if it is at least 75% a subsidiary of the other companies are at least 75% subsidiaries of a third country.
Cyprus having EU membership, and therefore use of EU Directives is also allows benefits to other Third countries. Application of some key EU directives are as follows:
1. Parent / Subsidiary Directive – Withholding tax is not paid on dividends and has immediate effect as long as there is 10% minimum shareholding and 2 years of holding. The tax is withheld abroad and the dividend is exempt in Cyprus (subject to conditions)
2. Interest / Royalty Directives – Withholding tax is not paid on the interest to Non–Residents and has immediate effect provided there is 25% minimum shareholding (only in case of royalties) Royalties are subject to corporation tax.
3. Merger Directives –Resident and Non-Resident Companies have no taxation obstacles or consequences relating to reorganization, mergers, divisions, transfer of assets and exchange of shares.
To discuss whether a Cyprus company is appropriate for your business, please feel free to contact us or read more details in our Cyprus Registration section.
White November developed expertise in assisting companies with the right VAT treatment of any transactions undertaken. We provide End-to-end VAT compliance service solutions from VAT registration to VAT de-registration, including VAT representation during local VAT audits.
Business effective decision making needs systematic analysis. We can help to provide the forward looking business projections through the preparation of management reports. We work with our clients to identify company`s solvency and liquidity, profitability, asset returns, and the comparison between actual vs budget results. Our services include:
Management reports can be prepared and presented to the decision-makers of your business on a monthly or quarterly basis.
White November provides a complete range of accounting services to both private individuals and companies whether based in Malta, Cyprus or abroad. Each of our clients has a dedicated Account Manager as a main point of reference, whose main responsibility is to take over the ownership of our clients accounting records and assist with specific tasks such as the closing process or the preparation of statutory financial statements.
The services that we provide include:
White November offers our clients outsourced preparation and processing of payroll. We can provide tax and strategic advice on the best structure for employees, including advice on the relocation of staff to Malta or Cyprus, and actively assist on the hiring of local staff in Malta and Cyprus. White November has a proven track record for being one of the leading payroll providers in Malta, offering payroll and HR support to companies and individuals established in Malta, Cyprus and globally.
Our full range payroll services include:
Malta and Cyprus provide simplified schemes for non-EU nationals who wish to obtain a Permanent Resident permit in the jurisdictions. A procedure has been put in place to attract foreign investment under which simplified procedures and easily met conditions are applied to non-EU nationals. Both Cyprus and Malta are very attractive places to consider for residence and citizenship. They are both EU countries situated in the Mediterranean, with warm, pleasant climates, active financial centres, and convenient air links to travel both within and outside of Europe.
The Malta Golden Visa was launched in August 2015 by virtue of an amendment to the Immigration Act, Cap 217 of the Laws of Malta. Legal Notice 288 of 2015 was enacted with the aim of attracting individuals of impeccable standing and repute to receive a Malta Golden Visa on the basis of a one-time contribution of €30,000 to Malta and an investment of €250,000 for 5 years in Malta Government Bonds.
Under the Malta residency by investment programme applicants and their registered dependents enjoy the opportunity to reside, settle, and stay indefinitely in Malta, and to hold a Schengen card allowing visa-free travel within the Schengen Area.
The Global Residence Programme is a scheme designed to attract individuals who are not nationals of the EU, EEA or Switzerland and who are not long-term residents. Individuals benefiting from this programme are not precluded from working in Malta, provided they satisfy the requisite conditions for obtaining a work permit. Beneficiaries may also have household staff providing a service in their qualifying property, as long as all the requisite procedures are satisfied.
The application process for this programme is relatively fast, it can be completed in three months. To qualify for this programme, the applicant must satisfy certain criteria including, but not limited to:
The Malta Retirement Programme (MRP) is a programme designed to attract nationals of the EU, EEA and Switzerland who are not in an employment relationship and are in receipt of a pension as their regular source of income. The applicant should be in receipt of a qualifying pension, which entitles the applicant to periodic pension payments, all of which are received in Malta, and which should constitute at least 75% of the beneficiary’s taxable income.
The applicant should hold a qualifying property (immovable property purchased for not less than €275,000 for a property situated in Malta, or €250,000 for a property situated in Gozo; or rental property – a leased property of not less than €9,600 per annum for a property situated in Malta or €8,750 per annum for a property situated in Gozo).
The objective of the Highly Qualified Persons Scheme is to attract experts of top level skill to occupy positions within companies licenced or recognised by the Malta Financial Services Authority (MFSA). Such highly qualified personnel can be entitled to a low Malta tax rate of 15% on employment income. These tax benefits are applicable to EU, EEA and Swiss nationals.
Malta and Cyprus are both sovereign European countries with rich cultural heritages, offering a unique quality of life. Both countries are situated in the heart of the Mediterranean Sea, and are ideal places to raise a family in a secure environment.
The introduction of Citizenship by Investment programmes rendered both jurisdictions ideal places to live, invest, and set up businesses. Both countries provide a window of opportunity wide open to a potential EU market of 508 million inhabitants — the world’s third largest population after China and India.
The Malta Individual Investor Programme grants Maltese citizenship to foreign individuals who contribute to the economic development of Malta. Investors can also gain citizenship for their dependents with this scheme. Malta has been a member of the EU since 2004 and has been part of the Schengen Area since 2007. Citizenship obtained under this program gives the rights of full citizenship for life and can be passed on to future generations by descent. Maltese citizenship grants access to all investment opportunities in Malta and throughout the EU open to European Union citizens.
Maltese Citizenship by Investment may be granted under an amendment passed in November 2013 to the Maltese Citizenship Act, Chapter 188 of the Laws of Malta. These amendments provided the framework for the enactment of LN 47 of 2014. The Malta Individual Investor Programme (MIIP) rules provide Maltese citizenship on the basis of a contribution to and investment in Malta.
70% of the initial contribution will be deposited into a fund set up by the Government of Malta, held by a board of trustees. This fund finances projects in Malta linked to education, public health, innovation, job creation, and other social projects.
With their long historical maritime pasts, ideal geographic locations, competitive yacht registration fees, low annual registry fees, and a number of other tax and VAT advantages, Malta and Cyprus are an extremely attractive yachting destination. In fact, the two islands are now boast the most cost efficient regimes for yacht and ship registration in the EU.
White November has a team of professional advisors with an extensive range of expertise and experience to assist and advise yacht and aircraft owners with all transactions involving registration and leasing of yachts and aircraft.
Malta and Cyprus offer a range of international maritime services and facilities as a part of comprehensive package designed for the yachting industry. The growth in yacht registration and related corporate services are partly driven by the availability of tax planning structures including VAT benefits in finance lease structures.
When purchasing and registering your yacht White November can provide the following solutions and services:
The Maltese and Cypriot Private Aircraft Schemes generate much interest among aviation enthusiasts. It is the most competitive scheme available, with the lowest VAT rates in Europe, coupled with the attractive corporation tax that Malta and Cyprus have to offer. Due to this and the strategic location of Malta and Cyprus, the islands are quickly becoming top jurisdictions for aircraft leasing and registration.
When purchasing and registering your yacht White November can provide the following solutions and services:
White November International Contracting is the complete payroll solution for contractors, recruiters, and corporate clients. We ensure that all our contractors retain the highest portion of their salary possible, while remaining entirely compliant in all the jurisdictions we operate in.
All over the world experts within their chosen field are contracted on a temporary basis for projects outside their home country. Within the telecommunications, oil and gas, IT and aviation sectors, amongst others, highly qualified self-employed contractors are being sought after to work on projects that usually have not been filled due to not finding competent employees.
With regards to tax, a contractor similarly to a corporation, wants to ensure that they are retaining as much of their salary as possible whilst still remaining on the right side of domestic and EU law.
White November International Contracting head office is based in Malta. It is a member of the EU and the Commonwealth and is politicaly, financially, and socially stable. Malta has an extremely attractive tax refund system approved by the EU.
Our head office is registered as employers. We operate our solutions across the following jurisdictions within the EU/EEA:
Some of the many benefits from choosing White November as your contracting and payroll solution include:
White November’s employment solution is unique due to the fact that we are able to offer high retention rates on salaries while remaining fully compliant with both domestic and EU laws. We are able to offer the most competitive rates maximising your net take home pay, whilst not compromising compliancy in the country of project.
In servicing these contractors our researched showed that the European Contracting industry was poorly serviced. Many competitors were offering opaque solutions which were not tax compliant for the contractors and reputationally risky for agencies and end clients. Therefore, we noticed a market gap for a high end provider to provide compliant solutions which are tax efficient and offer long term orientated options and strategies to contractors. Following much demand and success, White November’s International Contracting became a permanent division within the group.
While initially only serving the top 5% of earners within the Scandinavian contracting market, White November International Contracting has expanded to provide solutions in ten European jurisdictions. We now offer both solutions for contractors at all levels of remuneration.
White November International Contracting works with international contractors across the EU/EEA. We help each contractor get better retention rates for the contracts they are working on, whilst ensuring they are completely compliant in their country of operation.
We at White November offer a range of options for individuals to remain personally Tax Compliant while working on a contract basis. According to the option selected, you will benefit from all the advantages of being a contractor without the hassle, responsibilities and administration of running your own limited company in a foreign country.
In addition, your dedicated Relationship Manager will always be your single point of contact for any questions you may have. Furthermore, our international accounts and payroll team will ensure payments are made to you in a timely manner with the correct taxes paid in the jurisdiction of your contract. Our legal and contracts team will ensure all contracts issued on a timely basis and are fully compliant.
Raising capital through an ICO is a challenging process with many listing options and potential pitfalls. Therefore, from the onset it’s important you choose a partner that will provide support throughout your individual ICO lifecycle. White November has a wealth of experience in start-ups, business development and technology. Working logically with a Northern European business ethos, we understand what truly matters to entrepreneurs- time and value. Additionally, we are a commercially minded with knowledge in preparing an ICO within a restricted budget. We will guide you through the creation of a commercially efficient corporate structure with a compelling marketing story.
Interested? Contact us for more information