IBCF News & Articles

Liens, Mexican Commercial Code, and the RUG

Posted April 12, 2019

The Uniform Commercial Code (“UCC”) is a United States code and, as such, it can only provide coverage in US territory. Mexico’s secured financing laws are more complex than the UCC in the U.S.   First of all, there is no central registry in Mexico to search for…

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Corporation vs. LLC

Posted April 5, 2019

A limited liability company, or “LLC”, is an unincorporated business entity which is a cross between a corporation and a partnership. Like a corporation, an LLC protects its members from personal liability for the debts and obligations of the company. Like a partnership, an LLC is typically formed by the…

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Ontario Limited Partnerships- Are there any advantages?

Posted April 4, 2019

A limited partnership (LP) is a partnership among persons carrying on business in common. It is composed of a general partner (or partners) and one or more limited partners. The limited partners benefit from limited liability.In an LP, management is conducted by the general partner(s), who is/are fully liable for…

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New Federal Revenue Law 2019 in Mexico

Posted March 26, 2019

Mexico has always generally been one of the more complex countries for compliance matters due to many legal and accounting regulations. On January 1, 2019, the Federal Revenue Law 2019 became effective which has brought about new changes that businesses must be aware of in order to stay compliant. The…

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Luxembourg’s new UBO register

Posted March 25, 2019

Effective on March 1st, 2019, Luxembourg has enacted a register of Ultimate Beneficial Owner’s (UBO), implementing provisions of the fourth Anti-Money Laundering Directive dated May 20, 2015 (the “AML Directive”). The new register will record information on individuals having effective control in entities that are in Luxembourg which aren’t listed…

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Wyoming has two new House Bills

Posted March 11, 2019

Wyoming House Bill 0070 was signed by the governor on 2/26/2019. This bill authorizes the Secretary of State, not later than December 31, 2021, to develop and implement a block chain based filing system for business entity and commercial filings otherwise required by law to be filed with the Secretary…

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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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