What is the BVI Economic Substance Act?
The Economic Substance (Companies and Limited Partnership) Act 2018 came into force in the BVI to address tax system concerns by the EU and OECD. Companies and Limited Partnerships which fall into a specifically targeted relevant activity will need to show substance/presence in the BVI, unless they are tax resident…
Attending NPRRA in 2019? Meet our International Experts
IBCF is excited to be attending the National Public Records Research Association in Palm Springs, CA. If you are attending the conference, please say hello to our President, Mark Schaeffer and our Vice President of Corporate Services, Catherine Botticelli. If your feeling parched due to the desert heat, visit the…
Luxembourg Extends Deadline for Beneficial Ownership Registration
The deadline in Luxembourg has been extended for companies to register a company’s beneficial owners. The original deadline date was August 31st, however this has been extended until November 30th, 2019. Currently, over 120,000 companies have failed to file this information. Companies that fail to comply will face a monetary…
Ireland – Is it the right fit for your company following BREXIT?
Following Brexit, Ireland remains among the best countries in the world to do business for many reasons, mainly because they are English speaking and a member of the Eurozone and EU. In the coming weeks and months there will likely be many companies wishing to obtain, remain or begin a…
India Companies (Amendment) Bill 2019
Informtion on India’s Companies (Amendment) Bill 2019. Important updates as follows: 1. Issuance of dematerialised shares: As of now, applicable to a listed company and public company. This may extend to all companies as may be notified. This may include all private company also. 2. Re-categorisation of certain Offences: there…
Update on Belgium UBO Register
On September 18, 2017 the new legislation for the prevention of money laundering and the financing of terrorism and for the limitation of the use of cash was implemented by the Belgian legislator (“AML-law”). This new legislation is a direct consequence of the (fourth) Anti-Money laundering Directive (i.e. Directive (EU)…
BREXIT: Where can i go next?
With all of the uncertainty surrounding Brexit, many proactive companies in the UK are getting a jump on their Brexit Strategy and forming entities in other EU countries. The reason many are doing this is to mitigate a disruption in business activities and they can resume as normal depending on…
New Jersey Assembly Bill 5607
Effective June 30, 2019, New Jersey Assembly Bill amends entity laws regarding annual fees and reinstatement. The bill increases annual report fees from $50.00 to $75.00 for profit entities and $25.00 to $30.00 for non-profit entities. The bill also provide a certain time frame (December 15, 2019 to June 15,…
Delaware Business Entity Legislation
The State of Delaware has recently passed new Business Entity Legislation. Please see below an update on the new Senate Bills that were recently passed: Senate Bill 88 – Corporations 1. Clarifies notice and consent requirements as well as signature requirements, including electronic signatures and electronic data/documents 2.
Nevada Business Alert
Secretary of State Barbara Cegevaske issued the following alert late July 11th to those conducting business in Nevada. “The Secretary of State’s commercial fling services will be unavailable starting the afternoon of Friday, July 12, 2019 in advance of the deployment of a new business processing system which is expected…