Author: Admin
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CRS and FATCA Reporting deadline extension and NEW Information Requirements
FATCA: BVI, Bermuda and Cayman Islands – The IRS has provided for an extension of time for Model 1 IGA jurisdictions to provide their 2019 FATCA data to the United States competent authority. Currently the deadline… NEW Cayman Islands CRS Compliance Form…
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New ACRA requirement for Register of Registrable Controllers (RORC)
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SINGAPORE – The Accounting and Corporate Regulatory Authority (ACRA) has said that, as 1 May 2020, all companies, foreign companies and limited liability partnerships incorporated or registered in Singapore must ensure to lodge information on their RORCs with ACRA via the ACRA’s business filing portal, Bizfile. The maximum penalty for non-compliance of the…
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Encore Professional Services acquired by the Marbury Group
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We are delighted to announce that Marbury has acquired Encore Professional Services whose team are now part of and supported by the Marbury group. With the acquisition of Encore, this brings more depth into Marbury’s service line relating to accounting, payroll and visa services. Whilst Compass Offices’ clients will now have access to a wider…
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Changes to Beneficial Ownership thresholds – filing extension
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CAYMAN ISLANDS – The definition of a beneficial owner in the Companies Law (Revised) and the Limited Liability Companies Law (Revised) will change on 15 May 2020 from “more than 25%” of the shares or voting rights in a company to “twenty-five per cent (25%) or more” of the shares or voting rights in a…
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Singapore announces support measures for companies
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The Accounting and Corporate Regulatory Authority (ACRA) has implemented support measures to businesses in light of the difficulties brought about by the COVID-19 situation. As some entities may have difficulties holding their Annual General Meetings (AGMs) and filing their Annual Returns (ARs) certain deadlines have been extended and guidelines issued on Temporary Measures for Conduct…
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Marbury Business Continuity Statement
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Most importantly, we hope that you and your loved ones stay safe and healthy during this challenging time and thank you for your continued support. We are pleased to confirm that Marbury’s operations in all of our locations globally remain intact, but some services may be impacted by various closures and / or reductions in…
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Regulatory regime for closed-ended funds in the BVI
In line with other offshore jurisdictions and in order to comply with commitments to the EU, the BVI has introduced a ‘private investment fund’ regime by enacting the Securities and Investment Business (Amendment) Act, 2019 and the accompanying Private Investment Funds Regulations, 2019.
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Hong Kong 2020-21 Budget proposal highlights for HK Companies
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Hong Kong’s Financial Secretary, Paul Chan, outlined his budget for 2020-21 in his Budget Address on 26 February 2020. Following the HKD30 billion coronavirus relief package two weeks ago by Hong Kong Chief Executive, Carrie Lam, Chan’s budget offers additional relief with generous measures for business.
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New registration requirements for Cayman investment funds
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In line with other offshore jurisdictions and in order to comply with commitments to the EU, the Cayman Islands Government has introduced new registration requirements on both private funds and exempted funds via the Private Funds Law 2020 and the Mutual Funds (Amendment) Law (2020 Revision) which were both enacted on 7 February 2020. This…