Following from the recent geopolitical developments in Ukraine, there has been a heightened interest in sanctions, specifically, those sanctions being imposed against Russia ...
On the 1st of September 2023, Legal Notice 208 of 2023 was published in the Supplement to the Government Gazette by the title of the Financial Collateral Arrangements (Amendment) Regulations (hereinafter referred to as the “Amendment Regulations”) ...
Mexico has just announced significant tax incentives for companies in certain key industries to relocate operations to Mexico. A government decree issued on October 11, 2023 seeks to boost the nearshoring trend targeting ten export-oriented manufacturing sectors. Nearshoring is the process by which a company relocates operations offshore, but close to the market where it intends to sell its products ...
The Finnish government proposes significant changes to transfer taxation. Transfer tax is levied on the acquisition of shares and other securities and real property. The proposed changes may have significant effects to the taxation of M&A and real estate transactions. Some of the proposed changes will decrease the tax burden while some will result in increased tax liability. The most significant changes include: The general rate for securities (1 ...
In the case 44/2023/ISB delivered on 6th October 2023, the applicant, a majority shareholder in a company requested the Civil Court (Commercial Section) to fix a date for an extraordinary general meeting of the company under Art 132(1) of the Companies Act in an attempt to remove two directors from the Board of Directors without adequately proposing replacements ...
On 25 September 2023, in conjunction with the Prudential Regulation Authority, the Financial Conduct Authority published a consultation paper on diversity and inclusion in the financial sector. The proposals include measures to ‘support healthy work cultures, reduce groupthink and unlock talent’, in order to support the competitiveness of the UK’s financial services sector ...
The Department of Justice (DOJ) hopes to incentivize timely disclosure of misconduct uncovered during the M&A process with the announcement of a Department-wide Safe Harbor policy on October 4, 2023. The policy, which applies across the entire DOJ, shields companies from criminal prosecution for misconduct they discover in companies they are acquiring or have recently acquired ...
Following from the recent geopolitical developments in Ukraine, there has been a heightened interest in sanctions, specifically, those sanctions being imposed against Russia ...
A year after auto-enrolment's 10th birthday the government gives the green light to changes which have the potential to extend to workplace pension savings initiative to more workers than ever before ...
After a particularly active consultation round with approx. 140 consultation responses, together with the proposal for the national budget for 2024, the government presented a revised proposal today, 6 October 2023. The criticism from a relatively united renewables industry must be said to have fallen on relatively deaf ears and the proposal is essentially a continuation of the consultation proposal ...
With the recent implementation of electronic invoicing in El Salvador, it is of interest for taxpayers issuing VAT control documents to know the platforms enabled by the Tax Administration to comply with the technical and regulatory requirements established to allow the digitalization of the invoicing process. Art. 119-A of the Tax Codestates that electronic tax documents (DTE) shall be governed by the provisions of said code ...
Residency status in a foreign country is a matter of vital importance for those seeking to settle and build a life in a new place. In El Salvador, understanding the grounds for cancellation of residency is essential for foreign residents, as any non-compliance can have significant legal repercussions. The legal framework that regulates residency status in El Salvador is mainly established in theSpecial Law on Migration and Foreigners and its respective Regulations ...
The recent shock collapse of a number of organisations highlights the risk of non-payment in the current business landscape. It also demonstrates the importance of suppliers proactively protecting their interests and mitigating potential risks so that they are not vulnerable to financial losses as a result of a customer’s non-payment ...
On 30 August 2023, the Beneficial Ownership Transparency Bill, 2023 (the Bill) was published, proposing several important changes to the beneficial ownership regime in the Cayman Islands. The Bill is intended to enhance the jurisdiction’s current beneficial ownership regime to ensure compliance with the recommendations of the Financial Action Task Force ...
Tucked away in the recent Ohio Budget Bill, House Bill 33, were statutory changes that expand and modernize the statutes related to physicians and other health care professionals licensed by the State Medical Board of Ohio (Board) ...
If the United States Congress cannot reach a budget agreement to continue funding Federal government operations, the U.S. government will shut down non-essential functions Sunday, October 1, 2023. During the shutdown, immigration-related government agencies will be affected as described below. Citizenship and Immigration Services (USCIS) USCIS is funded by the fees it receives in connection with petitions and applications it processes and will not close ...
This typically involves (i) the manager/advisor performing investment business activities being registered with the Cayman Islands Monetary Authority (CIMA) under the Securities Investment Business Act (as amended) of the Cayman Islands as a registered person (registered person), or (ii) the fund being registered with CIMA as a mutual fund or private fund (Registered Fund and collectively with registered persons, regulated fund entities) ...
The UK political temperature is rising. With a General Election in the offing next year, and Labour now ahead in opinion polling, UK business would be wise to consider what a change in government could mean for employment law. A recent indication of Labour’s current thinking on employment policy was given by Deputy Leader Angela Rayner, in her speech to the Trade Union Congress (TUC) on 12 September 2023 ...
UAE companies can offer significant tax benefits when used as holding companies in certain scenarios. As an example, assume that an Italian limited liability company (“ItalianCo”) holds a 90% stake in a Moroccan operating subsidiary (“MoroccanCo”) and does not have a permanent establishment in Morocco ...
Contents Please click on the links below to jump to the revelant section: Overview Non-Resident Directors Resident Non-Executive Directors How to Register – Step-by-Step Overview Earlier this year, we published a summary of the recent changes to the scope of Jersey’s proceeds of crime and anti-money laundering (AML/CFT) legislation which were intended to align Jersey’s regime more closely with Financial Action Task Force Recommendations (see Recent ch
An incoming Manco needs Guernsey Financial Services Commission (“GFSC”) consent to migrate to Guernsey as well as a licence to conduct fund management under the Protection of Investors (Bailiwick of Guernsey) Law 2020 (the “POI Law”). The fast track regime can be used to combine these two processes within 10 business days or alternatively the licencing of a newly incorporated Guernsey entity within 10 business days ...
