IBCF News & Articles

Massachusetts now accepts conformed signatures

Posted February 19, 2019

The Massachusetts Secretary of State Corporations Division recently began accepting conformed signatures on all electronically submitted filings, including fax filings. Original hand signatures are still required when submitting documents over the counter or via mail in direct to state. Certain non-standard circumstances will call for over counter submission. This can…

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Information of New Jersey SB 2518

Posted February 7, 2019

New Jersey SB 2518 was signed by the governor and enacted on 1/31/2019 . This bill excludes certain out-of-State businesses and employees from certain State and local taxes, fees, and business registration requirements ordinarily imposed on in-State businesses when temporarily performing work or services within this State during a…

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New Rules for Tax of Nevis Corporations and LLC’s

Posted January 31, 2019

Started on December 28th, 2018, amendments were adopted to the business corporation ordinance and the Limited Liability Company ordinance  by the Nevis Island Administration. These amendments are in an effort, albeit temporarily, to comply with international standards. Further changes are expected early this year, although no further information is…

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BVI has new legislation- Economic Substance Act, 2018

Posted January 22, 2019

Starting on January 1, 2019, the British Virgin Islands Government enacted new legislation, the Economic Substance (Companies and Limited Partnerships) Act, 2018. This act requires companies that perform the activities listed below, meet a list of economic substance requirements such as establishing a physical office in the BVI…

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Global “Good Standing” Equivalents

Posted January 18, 2019

When it comes to Good Standing Equivalent Certificates around the world, one size does not fit all. Generally speaking in the U.S., a “Certificate of Good Standing” (CGS) is issued by the state’s Secretary of State and the format is somewhat standard. There are state (or commonwealth) variations in what…

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Extension granted by the UK for public ownership registers in the British Overseas Territories

Posted January 15, 2019

The information and specific details of the owners of companies that are duly registered in the British Overseas Territories will not be made public until 2023. This news comes after the government in the UK delayed the mandatory creation of the registers to be used. An amendment was put on…

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Barbados Abolishes IBC’s and ISRL’s

Posted January 11, 2019

Effective January 1, 2019,  Barbados has announced major changes to its corporate tax and international company regimes. This has been an effort to comply with the Organization of Economic Cooperation and Development’s framework on Base Erosion and Profit Shifting. One of the key changes include repealing the International Business Companies…

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California Corporate and LLC Administrative Dissolution

Posted January 9, 2019

Effective January 1, 2019, California domestic corporations and LLC’s will be subject to administrative dissolution or administrative cancellation if the entity’s powers, rights, and privileges are, and have been, suspended by the California Franchise Tax Board for a period of not less than 60 continuous months. How does the change…

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New Hampshire’s new entity name legislation

Posted December 28, 2018

Effective January 1, 2019, the New Hampshire Secretary of State has announced the business entity laws  have been revised by adding criteria for determining distinguishability of names. The added provisions describe elements that do not constitute distinguishing factors such as plural forms of the same word, phonetic spelling of the…

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2018 International Holiday Closings, By Jurisdiction

Posted November 1, 2018

Most international registries will close for at least part of year-end and early January. In fact, some registries will be closed from mid-December through the first week of January! This makes year-end corporate document retrieval and international lien searches a particular challenge. We encourage our clients to place orders as…

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