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In vigore dal 1 aprile 2020: la quota di manutenzione annuale aumenta da $ 450 a $ 500 per tutte le LLC e gli IBC. Partnership ed Enti Marittimi Esteri (FME) sono invariati. Tale incremento è dovuto al costo del rispetto della normativa sulla Sostanza Economica spinta dall'Unione Europea sulle Isole Marshall. Parliamo di sovranità: non essere sorpreso che la Brexit sia avvenuta. Dopotutto le Isole Marshall non sono nell'UE, quindi è facile camminarci sopra. Era già scritto: l'articolo 4(2) del trattato sull'Unione europea rispetta solo gli altri Stati membri. Let’s send a big thank ... Read more

Under the pressure of the OCED and the EU: Dominica abolishes the previously granted 20 years tax exemption to all IBCs. Taxation rate will now be 30% of worldwide profits starting on the 1st January 2022. Full legal reference: International Business Companies (Amendment) Act, 2019, ACT 2 of 2019 http://www.dominica.gov.dm/laws/2019/International Business Companies (Amendment) Act 2019.pdf

On its way to the US Senate, this bill (H.R. 2513) will make mandatory the disclosure of beneficial owner(s) of any LLC or Corporation: anybody with more than 25% ownership. Annual reports will be made to FinCEN. The disclosed information will not be publicly available. The data to be disclosed will be: the full legal name ; the date of birth ; the current residential address ; and the current valid passport number (or valid US state driver license number). Exempted entities are: insurances, banks, any SEC regulated entities, churches, or 501(c) non-profit entities. View the full legal text for ... Read more

The worldwide industry of non-resident, low tax or tax neutral companies is panicking: all the big accounting firms (Deloitte, Ernest and Young, KMPG, and PWC) have been overwhelmed by a wave of recent legislation adopted by many jurisdictions at once. The call (shot?) has been made by the European Commission in Brussels regarding the non-cooperative tax jurisdictions. Some people will believe that it targets only small players, and others will believe that it only affects big players. In fact it is targeting every body. The biggest players affected are Chinese companies incorporated in the British Virgin Islands (BVI). Such companies ... Read more

Anguilla has adopted Economic Substance regulations in a very detailed manner.

Le Isole Marshall hanno adottato regolamenti sulla sostanza economica applicabili dal 1° gennaio 2019. Tuttavia è interessante notare che: si applica rigorosamente alle attività pertinenti (attività di distribuzione e centro servizi, attività di finanziamento e leasing, attività di sede, attività di holding, attività di proprietà intellettuale, attività di spedizione, attività bancaria, e l'attività assicurativa) holding company business is defined as pure equity holding company a pure equity holding company is subject to a reduced economic substance test the entities must provide the relevant information if requested by the Registrar it seems to apply to Master Series LLC only (e non ogni serie) an entity ... Read more

Like their flag with three legs: the Isle of Man prepares to triple kick with sanctions all the investors or companies that do not pass their economic substance’s tests.

Upcoming laws are to be adopted in Jersey regarding Economic Substance for companies.

Taking effect on the 1st January 2019: Guernsey adopted Economic Substance laws.

Already in force: the Cayman Islands adopted laws & regulations regarding economic substance requirements.