UK Overseas Territories commit to implement Accessible Registers of Beneficial Ownership
The Joint Ministerial Council (JMC) of the UK Overseas Territories meeting in London committed to completing plans to implement Accessible Registers of Beneficial Ownership, with some territories implementing registers with legitimate interest access and others implementing fully publicly accessible registers. Ahead of the meeting, a…
IBCF 2025 Holiday Office Schedule and Closures
At IBCF, we value our clients and are committed to keeping you informed. Please note the following dates our Office will operate during the 2025 Holidays: Upcoming Office Holiday Hours MLK Day- Monday, January 20th, 2025- Open from 9amEST-5pmEST Presidents Day- Monday, February 17th, 2025- Open from 9amEST-5pmESt Good Friday-…
Simplify Compliance with Managed Annual Report Filings
Annual report filings are a critical requirement for maintaining good standing with state and international jurisdictions. Missing deadlines or submitting incorrect information can lead to penalties, loss of good standing, or even administrative dissolution of an entity. That’s where Managed Annual Report Filings come in—a comprehensive solution that takes…
What are USVI Exempted Corporations and LLC’s? Understanding the structures
The U.S. Virgin Islands (USVI) offers a unique and attractive business environment for entities operating primarily outside its borders. Among the most sought-after structures are Exempted Corporations and Exempted Limited Liability Companies (LLCs). These business entities provide strategic benefits, including favorable tax treatment, operational flexibility, and…
Puerto Rico Annual Reports
Annual reports are a critical compliance requirement for both Domestic and Foreign LLCs and Corporations operating in Puerto Rico. Ensuring your entity remains in good standing requires careful attention to deadlines, accurate filings, and proper documentation. Here, we explore the specifics of Puerto Rico’s annual reporting…
2025 Secretary of State Holiday Office Closures
2025 Secretary of State Holiday Office Closures: New Year’s Day – Wednesday, January 1 Martin Luther King Jr. Day – Monday, January 20 Presidents’ Day (Washington’s Birthday) – Monday, February 17 Memorial Day – Monday, May 26 Juneteenth National Independence Day – Thursday, June 19 Independence Day – Friday, July…
State Level UBO Registers – New Requirements in New York and Washington DC
The creation of state-level Ultimate Beneficial Ownership (UBO) registers in New York and Washington, DC, marks a significant shift in transparency requirements for businesses. These registers, along with pending legislation in California, South Dakota, Maryland, and Massachusetts, signal a growing trend toward heightened scrutiny on beneficial ownership to combat financial…
What are Decentralized Autonomous Organization (DAO)
A Decentralized Autonomous Organization (DAO) is a digital, blockchain-based entity that operates autonomously through pre-defined rules encoded in smart contracts. DAOs enable collective decision-making and governance without the need for centralized leadership, allowing members to manage the organization democratically and transparently. Key Features of a DAO Decentralized Governance: Decisions are…
Updates to the Norwegian UBO Register
The Norwegian Ultimate Beneficial Ownership (UBO) Register is a critical tool in combating financial crimes such as money laundering and terrorism financing. Introduced to increase corporate transparency, the register requires entities operating in Norway to disclose information about their ultimate beneficial owners. This ensures that authorities can identify individuals…
Cayman Islands Beneficial Ownership Transparency Act (BOT Act) 2023- Are you Prepared?
The Cayman Islands Beneficial Ownership Transparency Act (BOT Act) 2023 represents a significant development in the jurisdiction’s compliance landscape, aiming to bolster transparency and align with global anti-money laundering (AML) and counter-terrorism financing (CTF) standards. Here’s what you need to know about this legislation, its implications for entities, and…