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Moderate business optimism before Brexit

Moderate business optimism before Brexit The Chamber of Commerce in Great Britain presents in the Joint Commission for the EU of the Congress and the Senate a survey on the Brexit made among its members. The Spanish Chamber of Commerce in Great Britain participated last May 17, invited by the Spanish Parliament,...

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ISA Accounts: Effortlessly Save (tax) in the UK

ISA Accounts: Effortlessly Save (tax) in the UK Individual Savings Accounts (ISA) are a very popular savings model in the UK. The fiscal will implement in April new fiscal measures that will make them more attractive. Helping families to increase their savings levels: that was the idea of ​​the North American economist...

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SOCIMI: Real Estate Investment Companies

SOCIMI: Real Estate Investment Companies The tax advantages offered by the #Socimi make these companies a safe investment vehicle in Spain, sponsored by the improvement of the real estate market in our country. The #SOCIMI or Listed Companies of Real Estate Investment are Spanish companies listed on the Alternative Stock Market (MaB)...

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islamic banking lands in Morocco

Islamic banking lands in Morocco

Islamic banking lands in Morocco The lawyer Gonzalo Rodríguez Marín, Main Coordinator at Saudi-Spanish Center for Islamic Economics and Finance (SCIEF) in the IE Business School, and the banking consultant and researcher Fatima Z. Bensar published a piece in the "Markets" section of the Spanish economic journal "Cinco Días" on the...

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Side B of the #floorclauses extrajudicial procedure

Side B of the #floorclauses extrajudicial procedure The #floorclauses extrajudicial procedure favours the banks instead of consumers As anticipated in our article “Floor clauses and smoke curtains”, the #floorclauses extrajudicial procedure regulated by the Royal Decree 1/2017 of 20 January has come to establish that banks continue winning this battle. This is not...

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Schengen after Brexit

Schengen after Brexit Refugees crisis and spread nationalism across Europe have questioned the third-countries visa rules in the Schengen Area, but the real test will be the Brexit that will redefine expats status. Free movement of people, goods and services are one of the basic cornerstones of the EU’s political project. The...

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Gibraltar: the Brexit’s territorial problem

Gibraltar: the Brexit's territorial problem Gibraltar advocates a distinctive agreement for the Rock and other British territories in the negotiations regarding Britain’s exit from the EU. Gibraltar's Chief Minister, Fabian Picardo, advocated in the British TV Channel “BBC” that the upcoming negotiations between London and Brussels to negotiate Britain’s exit from...

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MSCI makes a stand against tax evading businesses

MSCI makes a stand against tax evading businesses

The agency Morgan Stanley will lower its ratings of businesses for evading taxes and maintaining opaque structures in order to not to comply their tax duties. The rating agency Morgan Stanley Capital International (MSCI) has announced to penalize tax evader businesses or companies following aggressive tax policies when rating since January...

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London global center of Family Offices

London, global center of Family Offices

The British capital has the highest concentration of Family Offices in Europe, a booming business sector that manages high-net-worth families’ wealth. London is the Europe’s financial capital, headquarters of numerous businesses that move and attract extraordinary investments. Amongst its most vigorous businesses, is where Family Offices (FO) are found. They are...

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The United Kingdom tax-cleaning Overseas Territories

The United Kingdom, tax-cleaning Overseas Territories

The United Kingdom's tax authorities investigate the offshore accounts of non-residents in their Overseas Territories and Dependencies upon US request. Last September the 30th, The British Treasury (HMRC -HER Majesty Revenues & Customs) received information on hundreds of thousands of offshore bank accounts of American citizens and residents from the United...

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The Spanish Banks' burden

The Spanish banks’ burden

Spanish bank entities' toxic assets continue to increase and they are a further factor of the currently weak economic recovery in Spain. The Spanish banks' burden: Spanish banks accumulate up to 350.000 million euros in their accounts in 'toxic assets', the equivalent to a third of the Spanish GDP. Such an amount...

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Qatar safe shelter for British economy

Qatar: safe shelter for British economy

Qatar and the United Kingdom are strengthening their trade relations in the view  of the UK's exit from the EU. Greater cooperation between the United Kingdom and Qatar would be a huge opportunity for both countries. This is the conclusion reached by both countries' agents and diplomats gathered in a  lunch...

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UK no longer worried about Brexit

The UK is no longer worried about Brexit

The storm caused by Brexit seems to have settled in the UK. In other news, British citizens residing in Spain should pay attention to their wills and mortgages now more than ever, following an ECJ judgment on floor clauses. This week at Del Canto Chambers, the UK has been the main...

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Conflicting emotions on CJEU's line on floor clauses

Conflicting emotions on CJEU’s line on floor clauses

Disappointment in consumers associations, cautious euphoria in Spanish banking system Reactions on CJEU's Advocate General's decision on limiting the floor clauses' retroactive effect were immediately undertaken. The most-affected banking entities by this measure are not hiding their joy but cautiously: the final sentence will not be known until December 2016. CEJEU is...

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CJEU's line threatens Spanish banking system

CJEU’s line threatens Spanish banking system

CJEU's Advocate General does not declare null the floor clauses' retroactivity and the so-called "Bankxit" is near to become a reality The CJEU's Advocate General has issued this Wednesday on the retroactivity of the floor clauses' nullity. Clients who signed a floor-clauses mortgage with a bank have overpaid by their interests...

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Uncertainty gives way to pragmatism

Uncertainty gives way to pragmatism

London is reacting to Brexit, in Spain investors' juridical security is increasing and it is expected that the Qatari's economy will enhance in following years. No one is doubting that Brexit has been a setback for the British economy and, after the referendum, the markets suffered from huge drops. But it...

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Sterling drop cheapens expats British pensioners

Sterling drop cheapens the expats British pensioners

British pensioners on abroad have experienced how their pensions have dropped until a 10% and they are afraid of losing even more purchase power. The Brexit still has consequences, mostly negatives, for the British economy. Shortly after the referendum, the sterling pound felt in the markets and it reached unremembered values...

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Brexit's consequences fail or chance

Brexit’s consequences fail or chance?

In London and in the rest of the European continent the strategies to avoid Brexit's negative consequences and to take advantage of its opportunities are being redefined. The Brexit's economic and juridical consequences do not stop but after the first shocking days, the strategies are being redefined now in both sides...

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Short-term double or quits on M&A and taxation

Short-term double or quits on M&A and taxation

While in Europe markets are shrinking due to the Brexit, in the Middle East a new super-bank is being created which will start to operate in early 2017. Brexit, the European banks crisis (with Italy and Portugal just about to be rescued), the emerging economies' lower growth and international markets' instability...

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