Category: Resources
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Opening a bank account in HK & when this is difficult
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Opening a bank account is usually one of the first items on a new company’s to do list, however, the process of establishing a corporate bank account in Hong Kong can present significant challenges, and is often more complicated than a company incorporation due to strict regulatory requirements and high compliance standards imposed on banks.…
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BVI Business Companies Annual Financial Return (AFR) – a guide (Updated)
As noted in our previous updater, amendments to the BVI Business Companies Act (Revised) came into force on 1 January 2023 introducing the requirement for BVI companies to file an annual financial return (AFR) with their registered agent. The BVI Business Companies (Financial Return) Order, 2023 (the Order) enacted in March, details (1) the form of…
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Striking off in the British Virgin Islands
Recent amendments to the BVI Companies Act (Revised) have introduced significant changes to the strike off regime and restoration process. We outline the process and implications around strike off and dissolution of BVI companies under the new regime and the temporary transitional period which is currently in force.
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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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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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Considerations in selection of your fund administrator
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Launching a new fund or investment structure can be an exciting but daunting experience. The right choice of partner to help set up and service the structure can make all the difference. Here are a few things we focus on, because they make a huge difference to the manager and the LPs.
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Increased penalties for employing overstayers in Hong Kong after changes to Immigration Ordinance
The Immigration (Amendment) Bill 2020, which came into effect on 1 August 2021, imposes increased penalties for employers who employ individuals not lawfully employable, and now covers overstayers.
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OVERVIEW: A Look at the Approved Manager Regime in the BVI
The Approved Fund Manager regime in the British Virgin Islands has been in force since 2012 and was designed to cater to start-ups, but is equally attractive to established small and medium-sized funds. Until recently we could count the number of AFMs in the structures we administer on one hand. However this has changed rapidly…
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Segregated portfolio companies in the Cayman Islands
Segregated Portfolio Company or Protected Cell legislation exists in the laws of several countries. The most commonly used jurisdictions are the Cayman Islands, British Virgin Islands and Bermuda (all of which are offered within the Marbury group). This memo deals specifically with the Cayman Islands, although concepts are mostly valid across all three jurisdictions.