IBCF News & Articles

UK Companies House sets out process for removal from Register of Overseas Entities

PostedMay 31, 2024

UK Companies House announced that it had set up a procedure to enable foreign companies that were no longer the registered owners of relevant property or land in the UK to apply to be removed from the Register of Overseas Entities (ROE).   Under the Economic Crime (Transparency &…

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5 Things to Know about Corporate/Individual Searches in Costa Rica

PostedMay 31, 2024

IBCF, your premier global corporate service provider brings you 5 things to know about the information available from public record searches on an individual or company in Costa Rica. 1. The Costa Rican public registry is a centralized national entity, unlike the regional systems found in some other countries.

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Cayman fully implements record keeping rules for company management licensees

PostedMay 31, 2024

The Cayman Islands’ Rule and Statement of Guidance on the Nature, Accessibility and Retention of Records for Licensees Conducting the Business of Company Management was brought into full effect for all licensees.   The Rule and Statement of Guidance (Rule and SOG) is designed to establish minimum requirements for licensed…

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Jersey consults on proposed central register access for obliged entities

PostedMay 31, 2024

The government of Jersey opened a consultation on draft legislation concerning obliged entity access to Jersey’s central register of beneficial ownership and control. Proposed access will be for persons obliged to conduct customer due diligence (CDD) under the Money Laundering (Jersey) Order 2008.   In 2022, the government of…

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BVI Updates Economic Substance Rules

PostedMay 31, 2024

The BVI International Tax Authority (ITA) issued a new Version 4 of the Rules on Economic Substance (ES), which replaces the previous version released in February 2023. The new ES Rules primarily provide an update to Rule 5, in which the United Arab Emirates (UAE) has been removed from…

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Did a US District Court rule the Corporate Transparency Act to be unconstitutional?

PostedApril 19, 2024

1 March 2024, the US District Court for the Northern District of Alabama held that the Corporate Transparency Act (CTA) was an unconstitutional exercise of congress’s enumerated powers because it represented an inappropriate federal intrusion to the regulation of state-created and regulated enterprises.   The CTA, which came into force…

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BVI Entity Formations & Annual Compliance Overview

PostedApril 12, 2024

There are several reasons why individuals and businesses might choose to form a British Virgin Islands (BVI) offshore entity: Tax Benefits: BVI offers favorable tax treatment, including no corporate income tax, no capital gains tax, no inheritance tax, and no withholding tax on dividends or interest. Confidentiality: BVI provides…

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Top 6 Ways To Verify a Mexican Company

PostedApril 11, 2024

There are a few reasons you may wish to verify a Mexican company. If a company has contacted you expressing an interest in purchasing your time share, please see IBCF article https://ibcf.com/news/mexican-timeshares-am-i-getting-scammed/ If you’re being offered a tempting vacation getaway package in Mexico please see IBCF article…

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Mexico Company Dissolution

PostedApril 11, 2024

Do you have a company in Mexico that you need to dissolve? Although dissolution is not form driven like it is in the USA, there are prescribed steps to dissolving a company in Mexico. Also, in 2018, the Mexican government instituted a streamlined dissolution process for companies meeting…

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Unmasking Fake Mexican Vacation Booking Scams: 3 Ways to Spot and Avoid Them

PostedJanuary 31, 2024

Planning a dream getaway to Mexico is exciting, but there is a rising tide of fake vacation booking scams. To ensure you don’t fall victim, here are the top four ways to spot a fake Mexican vacation booking scam and what to do instead. Unrealistically Low Prices. If a…

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