The Bermuda Registrar of Companies (RoC) has advised that the portal provided for the submission of Economic Substance Declarations (ESDs) will undergo an update on Monday, November 30, 2020.
Corporate governance has become one of the most hotly debated topics in recent years. Whether it be board diversity, corporate culture or succession planning, directors across the world have...
British Virgin Islands
The frequent use of BVI companies in corporate and private wealth structures is in part down to the flexibility and simplicity of the company law regime.
For many companies incorporated in the British Virgin Islands (BVI), the first deadline for reporting on economic substance (ES) compliance was 29 December 2020
In the recent case of FHL v LTC & 5 others BVI HC (COM) 2020/0048 the BVI Commercial Court granted a wider Norwich Pharmacal relief, requiring disclosure not only from several Registered Agents...
The Privy Council decision Ciban Management v Citco (BVI) Ltd (the "Appeal") brings the doctrine of ostensible authority into sharp focus and highlights the extent of the duty of care owed by...
Further to our November Alert the Cayman Department for International Tax Cooperation (DITC) has provided a further update on Economic Substance matters.
In November 2020, following an industry consultation process, the Cayman Islands Monetary Authority issued a Regulatory Procedure on the deregistration of controlled subsidiaries registered pursuant to ...
There has been an increasing number of take-private transactions involving exempted companies incorporated in the Cayman Islands in recent years and this trend is set to continue, particularly in Hong Kong where ...
The Department for International Tax Cooperation ("DITC") has advised that the DITC Portal (which will be used
for a range of regulatory notification and reporting purposes) opened in early November.
Since the introduction of the Foundation Companies Law in 2017, Cayman foundation companies have been utilised in a variety of different structures.
The Cayman Islands is one of the world's leading offshore jurisdictions for the establishment of investment funds.
A regulated mutual fund must file an annual return and pay an annual fee to the Registrar. The annual fee is calculated by reference to the fund's authorised share capital.
This guide examines what a creditor needs to know about liquidating an insolvent Cayman company under the Cayman Companies Act (2020 Revision) and the Companies Winding Up Rules, 2018.
G. Vrikis & Associates LLC
As of the 16 December 2020, Cyprus has initiated the beneficial owners register for Cypriot companies and other legal persons registered in Cyprus
The Sovereign Group
Escrow is the term used when funds or assets are held by a neutral, jointly-appointed third party on behalf of two contracting parties, subject to a transaction being completed between them (typically a contract of sale), ...
The Securities and Futures Commission ("SFC") recently published updated FAQs in respect of the requirements applicable to a Type 1 licensed corporation or registered institution ("Type 1 custodian")
Corporate governance and directors' decision-making can affect the tax residency of an entity.
During the first half of 2020, around 10,000 defunct companies were struck off the Malta Business Registry (‘MBR'), in light of a ‘cleaning-up exercise' undertaken by the local Registrar of...
This digest highlights some of the significant legal work carried out by Conyers' lawyers since the start of 2020 for our corporate clients in markets around the globe.