Author: Admin
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Further amendments to the Seychelles Beneficial Ownership Regime: Seychelles Beneficial Ownership (Amendment) Regulations
The Seychelles BO regime has since been further enhanced through the related Seychelles Beneficial Ownership (Amendment) Regulations enacted on 28 April 2023. We summarise the key amendments to the BO Regulations in our updater here.
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Reminder: Changes to Strike off Regime and Restoration Process in BVI – Transitional period ends 30 June 2023
The BVI Business Companies (Amendment) Act introduced changes to the strike off regime and restoration process that may impact your BVI company. Specifically, these changes affect BVI companies that were struck off after 1 July 2016 and before 1 January 2023, and that have not yet been dissolved. If you have any such existing struck…
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Private Equity as an Asset Class
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As an administrator, we use our experience to help managers and investors alike in understanding the complexities of the private equity space. We understand that not all investors are familiar with this asset class, making it a challenging proposition to investors who are otherwise more accustomed to the liquidity, information flow and timing associated with…
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Hong Kong Companies Ordinance: Reduction of capital
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The Companies Ordinance (Cap 622) (CO) introduced a company-led court-free process for reduction of share capital in 2014. This followed in the wake of the removal of the requirement for companies to have an authorised capital, which in turn followed a trend globally of removing restrictions in the handling of company capital that has swept…
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Amendments to the Seychelles Beneficial Ownership regime
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The Beneficial Ownership (Amendment) Act, 2022 has been enacted with effect from 30 December 2022. The relevant amendments are introduced to ensure ongoing compliance with international standards set by the Financial Action Task Force (FATF) and Organisation for Economic Cooperation and Development (OECD) which require jurisdictions to maintain beneficial ownership information that shall be accessible…
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Marbury obtains ISAE 3402 Type I Accreditation
Marbury Corporate Advisory Services Limited has successfully obtained the International Standard on Assurance Engagements (ISAE) 3402 Type I Report.
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Bermuda Economic Substance Regulatory Update: Changes to Non-Resident Entity Requirements
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Bermuda has recently announced an update to its economic substance requirements for non-resident entities. The update states that entities claiming an exemption from these requirements must now meet certain criteria to be considered eligible.
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Payroll and HR obligations for Hong Kong employers
Although Hong Kong is very business-friendly and constantly ranked among the top countries for its ease of doing business, when it comes to HR and payroll compliance, most foreign owned companies and start-up businesses find employer and employee compliance burdensome. This is often due to the limited resources available in time and funds. Hiring an…
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The importance of compliance with AML requirements across jurisdictions
Regulators are taking firm action again non-compliance with AML and CFT regulations as highlighted by these recent enforcement cases in Hong Kong and BVI.
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Disclosure of directors’ conflicts of interest
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A director is appointed by company shareholders to manage the day-to-day affairs of a company. With such management comes certain legal and fiduciary duties, and a director must act in the best interests of that company and its shareholders. Amongst these duties, is the ‘disclosure of interest’, which is the focus of this article with…