The activities of a financial institution could include lending, financial leasing, money transmission services, issuing and administering means of payment, money broking, venture or risk capital, foreign exchange dealing and other money market activities.
Various fiscal incentives are available to Financial Institutions upon particular criteria being satisfied.
Advance revenue rulings may be obtained as to the tax treatment of transactions involving financial instruments and international business. These rulings apply for 5 years and may be renewed for a further 5 years. Such rulings also survive any change in the relevant legislation for a maximum period of 2 years.
The firm advises and assists clients in the banking and finance sectors both in the setting up process and on an ongoing basis thereafter.