Blog

Набуває чинності 1 квітня 2020: щорічна плата за обслуговування збільшується з 450 доларів США до 500 доларів США для всіх ТОВ та IBC. Партнерства та іноземна морська організація (FME) є незмінними. Це збільшення пов’язане з вартістю дотримання правил економічної субстанції, які Європейський Союз висуває на Маршаллові Острови. Говорячи про суверенітет: не дивуйтеся, що стався Brexit. Зрештою, Маршаллові острови не в ЄС, тому на них легко ходити. Це вже було написано: Стаття 4(2) Договору про Європейський Союз стосується лише інших держав-членів. 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: Міжнародні бізнес-компанії (Amendment) діяти, 2019, ДІЙ 2 з 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.

The Marshall Islands adopted Economic Substance Regulations applicable from the 1st January 2019. However it is interesting to note that: it applies strictly to relevant activities (distribution and service center business, financing and leasing business, headquarters business, holding company business, intellectual property business, shipping business, banking business, and insurance business) 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 (and not each Series) 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.