Author: Admin
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BVI Accounting Records
Reminder to BVI companies on ongoing maintenance of accounting records and related official documentation detail Under the BVI Companies Act (Revised) and the Mutual Legal Assistance (Tax Matters) Act (Revised) a BVI company and the registered agent are required to have knowledge of the location of accounting records and also the person responsible for the…
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Hong Kong Budget 2023-24
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Hong Kong’s Financial Secretary, Paul Chan, outlined his budget for 2023-24 in his Budget Address on 22 February 2023. Highlights of some measures of particular interest to Hong Kong companies and those with business interests in Asia, are set out below.
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Dormancy of a Hong Kong Limited Company
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When clients find that they no longer need their Hong Kong company they would naturally like to reduce their Company-related costs. With our clients’ best interests in mind, Marbury would usually recommend that the Company be formally deregistered in order to prevent future liabilities. However, if there is a chance that the Company may be…
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Deregistration of a Hong Kong Limited Company
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When at the end of its useful life, deregistration is an easy and inexpensive procedure to close a Hong Kong defunct solvent company, and to prevent future liabilities to the Company and its officers. We have prepared a short overview of the process here.
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Incorporation of a Hong Kong Limited Company
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The most common form of business entity incorporated in Hong Kong is a company limited by shares, or simply, a Limited Company. View our overview of this popular structure here.
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Reminder: Seychelles accounting records due
Seychelles entities are reminded of the requirement to submit their bi-annual accounting records to their registered agent (by July and January) each year. The official deadline for submitting accounting records for the second half of the year 2022 (July to December) is 31 January 2023. Furthermore, large entities (with an annual turnover of more than SCR 50 million),…
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CIMA CIRCULAR: 2023 Internal Audit Plans
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Issued to all Licenced Full and Restricted Securities Investment Business Licensees and Registered Persons, dated 3 January 2022 The Cayman Islands Monetary Authority (CIMA) has issued a circular reminding entities to undertake regular internal audits of their controls and infrastructure to ensure that they are suitably robust in consideration of the nature and scale of…
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BVI Business Companies increase in Annual Fees effective 1 Jan 2023
The British Virgin Islands Financial Services Commission (FSC) has recently announced an increase in Annual Licence Fees coming in to effect on 1 January 2023. This fee increase applies to all new incorporations and renewals taking place in 2023, and does not apply to any 2022 Annual Licence Fee.
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BVI Voluntary Liquidation: a quick and easy guide
The process does not have to be complicated when preparing for the voluntary liquidation of a British Virgin Islands (BVI) company that is nearing the end, or has reached, the end of its useful life. Where a company is not a regulated entity, has no liabilities, or if it is able to pay its debts…
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Termination of Cayman vehicles and CIMA director registration renewals and cancellations
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As the end of the calendar year approaches, if you have any Cayman vehicles that you are considering terminating, there are several steps to be taken before the end of the calendar year to minimise 2023 annual fees. For funds regulated by Cayman Islands Monetary Authority (CIMA), the timing of de-registration submissions of the regulatory…