Category: News & Updates
-
Encore Professional Services acquired by the Marbury Group
—
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…
-
Singapore announces support measures for companies
—
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…
-
-
Marbury Business Continuity Statement
—
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…
-
Economic Substance Legislation in the British Virgin Islands
BVI ITA issues final Economic Substance Rules – The ITA has now published the final version of the Code which has been renamed Rules (and Explanatory Notes) on Economic Substance (the Rules). The content of the Rules is broadly the same as the draft Code, but it includes a number of amendments following feedback to…
-
Data Protection in the Cayman Islands
—
On 30 September 2019, the Cayman Islands Data Protection Law (DPL) comes into force, introducing globally recognised standards regarding the protection, processing, and access to, an individual’s personal data. The DPL applies to ‘data controllers’ established in the Cayman Islands, regardless of whether they have a physical presence in Cayman. Where a data controller engages…
-
The Companies (Amendment) Law, 2019
—
Cayman Islands – Legislative changes in the Cayman Islands for Companies, LLCs and LLPs. Following the March 2019 assessment by the Caribbean Financial Action Task Force of the Cayman Islands’ anti-money laundering and counter-financing of terrorism regime, recent legislative amendments have come into force in the Cayman Islands. The amendments introduce new requirements on how…
-
Bermuda Economic Substance Update
—
Bermuda entities that are tax resident in another jurisdiction may now seek an exemption from economic substance requirements. On Friday, 28 June 2019 Bermuda adopted the Economic Substance Amendment Act 2019, which creates an exemption for entities registered in Bermuda that are tax resident in an acceptable jurisdiction. The amendment brings Bermuda’s economic substance legislation…
-
Hong Kong 2019-20 Budget proposal
A range of relief measures were outlined to help local enterprises deal with the fallout and uncertainty of the global economic and trade environment. As part of these measures it is proposed that the business registration (BR) fees for the period 1 April 2019 to 31 March 2020 will be waived, and only the BR…
-
Positive Changes to Hong Kong’s Profits Tax Exemption for Offshore Funds
—
Most Hong Kong managers manage offshore funds that are formed and regulated (or exempt from regulation) in the Cayman Islands or other similar locations. For some time now the Government of the Hong Kong Special Administrative Region has grappled with how to create greater certainty for investors as to the tax neutrality of these structures…