IBCF News & Articles

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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PostedJanuary 29, 2024

Expanding your business to international markets can be a strategic move for growth and diversification. Mexico’s vibrant economy and proximity to the United States presents an attractive opportunity for US citizens looking to establish a business presence.  The process in Mexico is quite different than forming a company in…

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Canada Joins Hague Convention

PostedJanuary 23, 2024

As of January 11, 2024, Canada joined a list of 125 countries that are active parties to the Convention of 5 October 1961.  Through the Hague Conference on Private International Law, the Convention of 5 October 1961 is a multinational treaty abolishing the requirement of legalization for foreign public documents…

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The Corporate Transparency Act

PostedJanuary 18, 2024

The Corporate Transparency Act (CTA) is a bipartisan law passed by Congress in 2020 requiring certain entities in the United States to disclose specific identifying information on the Beneficial Ownership of these required entities.  FinCen, the Financial Crimes Enforcement Network (which is a part of the US Treasury Department) will…

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New York Corporate Transparency Act

PostedJanuary 17, 2024

The New York governor signed SB 995 on December 22, 2023 to enact the LLC Transparency Act. This new law includes state beneficial ownership reporting requirements modeled on the Federal Corporate Transparency Act (CTA). The bill incorporates definitions from the federal CTA regulations and requires the disclosure of certain beneficial ownership information…

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PostedSeptember 19, 2023

Search requests in Colombia are among the top 5 most requested searches in the Central and Latin American region.   Below are commonly requested searches, as well as the information required and the results available from the searches in Colombia.  Results below are issued electronically, in Spanish in 1…

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