Banking and Finance Law Articles
Articles written by attorneys and experts worldwide discussing legal aspects related to Banking and Finance.
Asset Protection Errors - How to Avoid the Most Common Errors in Setting Up an Asset Protection Strategy
January 11, 2012 By Carlo Scevola & Partners
Many of you probably receive unsolicited junk e-mails offering different Asset Protection schemes. With so many "tax haven" jurisdictions and unlicensed companies selling unproven and unreliable Asset Protection techniques and entities, which do you trust? There are many flawed asset protection packages offered on the internet now days.
January 9, 2012 By Glimstedt Law Firm
Loan agreement is one of the most common ways of financing in Belarusian companies when a foreign shareholder provides a loan to the Belarusian Company. This article covers some crucial issues of receiving loans from foreign companies including currency and tax regulations.
January 7, 2012 By Kevin Pillion - Co-Executor PLLC
The initials “LLC” in a financial planning context stand for a "limited liability company." (Note that the “C” stands for company rather than corporation.) The limited liability company is somewhat of a hybrid enterprise that has some of the characteristics of a corporation while also resembling a sole proprietorship or partnership depending on whether or not there is more than one member.
January 5, 2012 By Arthur & Castillo
The tax benefits of Law 158-01 may extend to the purchase and acquisition of Dominican Republic real estate such as second homes and vacation villas of projects located in designated tourist zones.
January 3, 2012 By Gudorf Law Group
I recently had the opportunity to develop an estate plan for a same-sex couple and found several effective strategies for making sure each partner could receive inheritance and make healthcare decisions for the other just as if they were a married heterosexual couple. Actually, now they are probably better protected than most married heterosexual couples, because most couples don’t have an estate plan or living trust in place.
January 1, 2012 By Schwell Wimpfheimer & Associates LLP
Last week the U.S. Securities and Exchange Commission (the “SEC”) amended its rules to exclude the value of a person’s home from net worth calculations used to determine whether such individual qualifies as an “accredited investor”. The amendment is not “new law” but rather simply conforms the SEC rules with the Reform and Consumer Protection Act (the “Dodd-Frank Act”) which already became law on July 21, 2010.
December 30, 2011 By Guo Lian Law Firm
The new version of Industrial Catalogue for Guiding Foreign Investment (“Catalogue”) was formally released on 24 December 2011. It will come into effect on 30 January 2012 and supersede the Catalogue published in 2007. The 2011 Catalogue brings significant adjustments to China's industrial policy towards foreign investment.
December 30, 2011 By Avellum Partners
In recent months, China has been dominating media headlines in connection with exchange rate disputes with the Unites States and possible participation of China in the bailout of some Eurozone nations. China seems to be proving the truth behind the Chinese proverb that says that ‘the saving man becomes the free man’.
Regulation Proposal Regarding the Promotion of Activities for the Protection of EU Financial Interests
December 28, 2011 By Andreas Neocleous & Co LLC
The protection of EU’s financial interests reflect s the basic targets and objectives of the European Union to suppress the illegal traffic of products as well as counterfeiting activities within EU Member States. Hercule I and II, as well as Pericles constitute the means and the tools with the aid of which, relevant European and national authorities will be empowered to take all the measures needed and execute the harmonized strategy of the Union.
December 27, 2011 By Belcheva & Associates Law Office
The location of Bulgaria makes it strategically advantageous for accessing the developing markets in Eastern Europe and Turkey. It is also a largely unspoilt rural country with enormous business tourism potential. It has a coastline along the Black Sea and lovely mountains making for potential investment opportunities.
December 27, 2011 By Michael Chambers & Co. LLC
Cyprus is a major ship management centre and its flag holds an envious reputation worldwide. The Cypriot Register now ranks 10th in size internationally and represents the third largest fleet in the EU. Moreover, the Register is growing, with shipping entrepreneurs attracted to the host of benefits offered by registration under the Cyprus flag and the active promotion of ship management interests by regulatory authorities.
Country’s Indebtedness as Threat in Doing Business? The Case of DR. Congo and China vs. Vulture Funds
December 22, 2011 By Yav & Associates
It is normal to think that the indebtedness of Democratic Republic of Congo [DRC] and potential threats such Vulture Fund activity increase the cost of doing business in some countries such as the DRC. This article discusses the DRC and China case as regard to Vulture Finds.
December 16, 2011 By Guo Lian Law Firm
The regulatory regime on private equity fund is developing at a fast pace, despite there is still no unified national-level law or regulation governing the business. After establishing its authority as a key regulator of China’s venture capital funds, China’s National Development and Reform Commission (“NDRC”) takes the leadership in developing the regulatory regime and is determined to expand its regulatory power into the area.
December 14, 2011 By The Berkman Law Firm
Whether you are a company looking to raise financing or a potential investor, make sure you understand the important concepts that you will invariably be confronted with in a venture capital transaction. Even if your business is not at the juncture of raising financing, understanding the key terms now will help you start to position the company for an eventual financing round down the road. This Article provides an overview of some of the important terms in a venture deal.
December 14, 2011 By Schwell Wimpfheimer & Associates LLP
On December 8, 2011, the Division of Corporation Finance of the U.S. Securities and Exchange Commission significantly limited its policy of allowing non-U.S. issuers to submit initial drafts of registration statements (initial public offering or other first-time registration statements) on a “draft” confidential basis.
December 9, 2011 By Potamitisvekris
Reproduced with permission from Law Business Research. This article was first published in Getting the Deal Through - Restructuring & Insolvency, (published in 2011; contributing editor: Bruce Leonard).
December 7, 2011 By Yav & Associates
This articles discusses the Investment Legislation and its Reasoning; Foreign Investment Establishment, Registering and Licensing Processes; Registering a company; Establishing a Bank; Investing in the Mining Sector; Mining Prospecting; Mining Exploration; Investing in the Forestry, Gold and Diamond Sectors; Foreign Employment & Residence and; Foreign Investor Access to Land and Property Rights within the Democratic Republic of Congo.
December 7, 2011 By Yav & Associates
In order to value the extraordinary resources, the Democratic Republic of Congo adopted from 2001, an important batch of economic measures establishing the freedom of commerce and industry and the liberalization of sectors governed so far by the Government (mining, oil and exchange sectors). Should be added to the reforms introduced the promulgation of new laws, the spirit of boosting private initiatives: it is the case of investment code, mining code, forest code, labor code.
December 6, 2011 By Michael Chambers & Co. LLC
Activities of all investment firms in Cyprus are governed by CySEC, the Cyprus Securities and Exchange Commission. CySEC isresponsible for authorizing investment firms to undertake investment and ancillary services and governs ongoing transactions and compliance with the various applicable regulations. Investment firms may consider undertaking their activities abroad through establishment of a branch in the intended market or by providing services in that territory where authorized.
December 4, 2011 By Schwell Wimpfheimer & Associates LLP
In November, the Securities and Exchange Commission approved new rules (the “New Reverse Merger Rules”) that make it more difficult for companies that have effected a “reverse merger” (also known as a “reverse takeover”) to go public and meet the required listing standards of the three major U.S. exchanges – the NYSE, NYSE Amex and NASDAQ.
December 1, 2011 By Michael Chambers & Co. LLC
In the Republic of Cyprus only certain persons and companies are permitted to undertake investment services and activities (for a full list of such regulated activities please refer to the end of this article)[i] and such entities are tightly regulated in order to ensure high standards and full consumer protection. The Cyprus Securities and Exchange Commission is the body responsible for the issuing of licenses and for overseeing the operation of such entities.
November 28, 2011 By Guo Lian Law Firm
China launched formally a comprehensive business concentration control regime on 1 August 2008 when its Anti Monopoly Law (“AML”) entered into effect.
November 28, 2011 By Diane A. Nygaard, PA
Once you have been taken advantage of by deceitful stockbrokers or financial advisors, it's hard to trust anyone. However, it is essential that you consult with a capable securities fraud attorney if a financial professional has encouraged you to invest in ventures that are risky or if they have invested your money without your knowledge.
The Securities Act of 1933, as amended (the “Securities Act”) requires that the sale of a security be registered under the Securities Act, unless the security or transaction qualifies for an exemption from registration.
Regulation D, Rule 506 Offerings - To offer and sell securities in the United States, an issuer must comply with the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"), or must offer and sell the securities pursuant to an exemption from the registration statement requirements.
Investor relations involve the dissemination of information regarding a publicly traded company to create awareness of the public company and its business and to increase its stock price. The person who provides the investor relations services is known as a “Stock Promoter”. Stock promoters have used illegal practices and are often the subject of enforcement actions by the Securities and Exchange Commission (the “Commission”) is the stock promoter.
FINRA Rule, 6490, recently enacted in September 2010, requires issuers of equities and debt securities not listed on exchanges to provide timely notice to FINRA of certain corporate actions. These corporate actions include name changes, forward stock splits, reverse stock splits, distributions of cash or securities such as dividends, stock splits and other actions, and rights and subscription offerings.
On July 9, 2011, the Securities and Exchange Commission (“SEC”) approved rules to increase the standards for companies going public through a reverse merger to list on the New York Stock Exchange (“NYSE”), American Stock Exchange (“AMEX”) and the NASDAQ Stock Market (“NASDAQ”).
Regulation A was created under Section 3(b) of the Securities Act of 1933 (the “Securities Act”) to exempt public offerings not exceeding $5 million in any 12-month period by non-reporting companies, without restrictions on the types of investors that can take part in the offering. By: Brenda Lee Hamilton, Attorney Hamilton & Associates Law Group
What is a Shell Company? Securities Act Rule 405 and Exchange Act Rule 12b-2 define a Shell Company as a company, other than an asset-backed issuer, with no or nominal operations; and either: • no or nominal assets; • assets consisting of cash and cash equivalents; or • assets consisting of any amount of cash and cash equivalents and nominal other assets. By: Brenda Lee Hamilton, Attorney Hamilton & Associates Law Group
Registration of securities on Form S-8 (“Form S-8”) is a short-form registration statement under the Securities Act of 1933, as amended (the “Securities Act”). By Brenda Lee Hamilton, P.A. Hamilton & Associates
November 28, 2011 By Robert J. Kulas, P.A.
Asset protection is often coupled with thoughts of high-powered attorneys and other executives poring over your financial documents in order to reach one common goal – protecting your estate to include your assets and properties. However, it doesn’t have to be that complicated or that expensive.
November 25, 2011 By Law Office of Mary E. King, PL
Learn The Truth About The OIC Program - By now, most troubled taxpayers looking for a way to resolve their IRS debt have seen commercials from large tax debt relief services claiming taxpayers paid tens of thousands of dollars by paying only pennies on the dollar. Reactions to these commercials by taxpayers vary from "Wow I won’t have to pay all this tax debt" to "It's scam no one really gets out of paying that much money to the IRS".
November 23, 2011 By BUE Law Firm
Joint Stock and Limited Liable Companies are two most common company types in Turkish practice. Therefore we will substantially proceed with meeting and resolution quorums of these company types after brief general information is provided.
November 23, 2011 By BUE Law Firm
Signature Circular is an official document signed before the Notary in which signature powers of the Company and its branches are determined and the limitations of such powers are detailed.
November 20, 2011 By Diane A. Nygaard, PA
If you trade on the futures market and suspect commodities fraud, it is to your advantage to consult with a talented commodities fraud attorney who will work to help you recover your losses.
November 18, 2011 By Fikadu Law Office
Do you want to know about areas of investment permitted for investment according to Ethiopian law? Below you will find these areas of investment divided by sector of investment.
November 18, 2011 By Fikadu Law Office
Brief note on the various tax laws of Ethiopia. In Ethiopia there are two types of tax. These are direct and indirect tax.
November 17, 2011 By Ligerion Law Firm
Before 1 June 2009 a concept of shareholders agreements was not recognized as a matter of Russian law. That is why joint ventures, project finance or structured M&A deals have been closing with the help of offshore vehicles. Now as the relevant amendments entered into force, Ligerion Group assess what is the route business is taking and what is the Russian court practice.
November 17, 2011 By Michael Chambers & Co. LLC
Clearly Cyprus holds great attraction as a business venue for investors – Michael Chambers explores why so many international businesses entities are drawn to Cyprus and how you can take advantage of the venue yourself.
November 17, 2011 By Michael Chambers & Co. LLC
Cyprus undoubtedly offers a considerably advantageous base for any business. Offering a highly beneficial taxation system and located at a geographically favorable position – it is little wonder that Cyprus enjoys a reputation as an international business center of excellence. However, before a company can be created, certain fundamental decisions need to be made about the kind of legal entity required and the manner in which it will operate.
November 16, 2011 By CSB Advocates
On the 24th October 2011, Syspay Ltd, under the assistance and guidance of Zammit & Associates- Advocates and CSB Group, became the first Electronic Money Institution to be licensed by the Malta Financial Services Authority (MFSA).
November 10, 2011 By Melvin R. Singleterry - Associated Attorneys, LLC
Banking Fees are getting out-of-control. This article discusses some regular fees banks attach to their clients account.
November 8, 2011 By Diane A. Nygaard, PA
Choosing a securities arbitration lawyer is not something that should be done in haste, and without careful consideration. When you are facing a dispute with brokers or financial advisors, it is essential that you have experienced and skilled legal representation.
November 4, 2011 By UB & Co. Attorneys and Counselors
On May 4th 2011, the Ministry of Commerce (“MOFCOM”) issued a Draft of the Management Measures regarding Capital Contribution by Equity to Foreign Invested Enterprises (“FIEs”) for public comments ("Draft Measures"). The deadline for the submission of comments was May 20th, 2011.
November 2, 2011 By Andreas Neocleous & Co LLC
The Connecting Europe Facility (CEF) Regulation and its impact on Cyprus Republic. The European Commission adopted on October 2011, a plan with a huge budgetary importance of around 50 billion euro aiming at improving EU’s transport, energy and networks.
October 24, 2011 By Leks&Co
Background BKPM holds 2 (two) types of services on investment activity for the investor in the territory of Indonesia, which is the licensing service and the non-licensing service. Based on Article 1 paragraph 6 of Regulation of Chairman of BKPM Number 12 of 2009 (“Perka BKPM 12/2009”), what is included in the licensing services is any type of agreement to conduct investment which is issued by the Government and local government who has the authority under the regulations.
October 20, 2011 By Assouline & Berlowe, P.A.
The Ninth Circuit Rules that 523(a)(19) of the Bankruptcy Code does not apply to innocent wrongdoers who are the recipients of ill-gotten gains through securities fraud.
October 12, 2011 By Angela Wang & Co.
The bankruptcy of Lehman Brothers saw thousands of retail investors in Hong Kong with their savings evaporated and subsequent questions raised about mis-selling of financial products to the public.
October 10, 2011 By Markowicz International Law
In September, 2011, a consortium of five Chinese companies invested 2 billion USD to acquire a minority stake in a Brazilian metal company...
October 6, 2011 By Malaise Law Firm
Bankruptcy can have immeasurable benefits for individuals who are challenged with overwhelming or out of control debt. It is important for debtors to be cautious of making particular mistakes that can complicate or otherwise thwart their efforts to file for bankruptcy protection.
September 30, 2011 By Oserogho & Associates
A Sovereign Investment Authority (Establish, Etc.) Act, 2011 has established for Nigeria a Sovereign Investment Authority. This Authority is charged to receive, manage and invest in diversified portfolios the excess of the medium and long term revenue of the Federal, States, Local Governments and Area Councils. The Proceeds of these investments are statutorily required to create a savings base for the country, develop infrastructure that will attract local and foreign direct investments.
September 21, 2011 By Andreas Neocleous & Co LLC
Finance ministers and Central Bank governors of European Union Member States debated during the last informal Economic and Financial ECOFIN Council of September 17, the current condition of the economy and the situation in sovereign bond markets. The debate on the European Union’s financial stability was also attended by representatives of European financial oversight authorities.
September 15, 2011 By Andreas Neocleous & Co LLC
All European Union countries have been affected between 2008 and 2010 by the economic and financial crisis and after a contraction in 2009 in every EU country, except Poland, growth returned in 2010 in all but five peripheral countries. While in 2010 several countries continued to support their economies through discretionary measures, other countries had less room for maneuvers given their underlying public finance situation trying to consolidate them.
August 23, 2011 By Fikadu Law Office
Do you want to know about areas of investment permitted for investment according to Ethiopian law?
August 18, 2011 By CSB Advocates
QROPS are Pillar II pension schemes established outside the UK and which are recognized as such by Her Majesty’s Revenue and Customs (HMRC). The administrators of a pension scheme established in Malta may apply to HMRC for formal acceptance of the scheme as a QROPS. Once approved as a QROPS, the Maltese scheme could accept funds/assets transferred from existing UK pension schemes.
August 18, 2011 By CSB Advocates
Recent amendments to the Financial Institutions Act (Chapter 376 of the Laws of Malta) (the “Act”) have effectively brought the regulation of EMIs in Malta, previously regulated under the Banking Act (Chapter 371 of the Laws of Malta), within the remit of the same Financial Institutions Act. The change has undoubtedly led to a much more attractive regime for operators looking to set up an EMI in Malta.
August 11, 2011 By Integrites
The year of 2010 was marked by a number of loans, both foreign and domestic, raised by Ukrainian companies or their foreign affiliates or parent companies. As a rule, foreign and Ukrainian creditors provide loans to Ukrainian debtors subject to proper security of debtors’ obligations. In this article we provide a brief practical overview of the most common types of security instruments in Ukraine.
August 11, 2011 By Integrites
Whether it’s a start-up project or a successfully running company, at some point in time every business faces a need to raise money for a variety of reasons. There are two basic ways to raise capital: either debt or equity. This article focuses on comparative analysis of primary disclosure requirements for debt and equity offerings.
August 10, 2011 By Ongur Ergan Law & Consulting Office
The fundamental transformation in Turkish economy has been observed during the massive privatization process since 1994. The investment opportunities in Turkey are particularly attractive in the framework of country’s ongoing attractive privatization agenda. The involvement and participation of international investors is highly encouraged by the law in course of current privatization program.
August 10, 2011 By Law Firm of Mark S. Eghrari & Associates PLLC
As you probably know, beginning January 1, 2010, Washington loosened rules for converting traditional IRAs (with taxable withdrawals) to “Roth” IRAs (with tax-free withdrawals). The full amount you convert (minus any “basis” in nondeductible contributions) is taxed as ordinary income now when you convert. However, future withdrawals will be tax-free.
July 21, 2011 By CSB Advocates
Fund managers don’t like surprises. And it is this aversion to anything unknown that has caused the more “traditional” financial centers like London, Luxembourg, Ireland and Switzerland to boom as financial centers towards which fund managers have gravitated and established themselves over the past 20-odd years.
July 20, 2011 By Mamo TCV Advocates
Malta has established itself on the map of domiciles of choice for alternative investment funds and continues to build its reputation as a financial services hub – a brief overview of the key ingredients for Malta’s success.
July 20, 2011 By Andreas Neocleous & Co LLC
On 17 December 2010 the European Council agreed on the need for a Eurozone area and on the establishment of a permanent stability mechanism which will intervene by providing financial assistance to the Eurozone Member States after June 2013.
July 14, 2011 By Andreas Neocleous & Co LLC
The Council concluded on 12 July 2011 the first European Semester which has been implemented this year, for the first time, as part of a broader reform of the EU’s economic governance. Based on the European Council’s decision a recommendation has been adopted on the implementation of the Eurozone Member States’ economic policies as well as a recommendation on its National Reform Program 2011 and the Stability Program 2011-2014 for each Member State.
July 11, 2011 By Law Offices of Donald W. Hudspeth, P.C.
If you purchased real estate as part of a business purchase, if you inherited real estate, if you are retired and own properties you want to turn into rental properties, the organizational engineering you do is not just to save on taxes. The cheapest form of insurance you can buy may be the limited liability you gain when you keep your property in a limited liability company (“LLC”) or limited partnership designed to protect you from the liability associated with property.
July 8, 2011 By Andreas Neocleous & Co LLC
The European Commission has faced the challenge of being able to fund a number of policy areas where the EU could be more effective, by acting at EU level, in preparing its proposals for the future budget of the European Union. In its proposal, based on the Europe 2020 Growth Strategy, a new funding potential can be seen attempting to ease the direct impact of the national budgets with the creation of a new Multiannual Financial Framework (MFF).
July 7, 2011 By Leks&Co
To create an order in the investment activity, the authorized body needs to set out a line of licensing process before an investor could conduct the investment activity in the territory of Indonesia. Investment Coordinating Board (Badan Koordinasi Penanaman Modal) (“BKPM’) introduced a system, namely Integrated One Door Service (Pelayanan Terpadu Satu Pintu) (“PTSP”) whereby investors can enjoy certain facilities.
July 3, 2011 By Law Offices of Richard B. Schneider, LLC
A trust is a valuable estate planning tool, but many don’t realize how their estate can benefit by creating a trust.
June 24, 2011 By DunlapWeaver, PLLC
Independent film financing and tax credits are linked and play a huge role in making a successful film. Understanding where these credits are and how to obtain them is vital. Dunlap, Grubb & Weaver, experienced entertainment lawyers can help with this. This article lists the credits available in the United States by jurisdiction.
June 20, 2011 By Guo Lian Law Firm
The Anti-Monopoly Law (“AML”) opens a new landscape for merger and acquisition practice in China. Regardless where a merger takes place, if the transaction satisfies the prescribed conditions, it must be filed with China's Ministry of Commerce (“MOFCOM”), the agency charged with enforcing the merger control laws in China, for business concentration review.
June 4, 2011 By Molina & Co.
A brief on new agreement No. 004-2011 of May 4, 2011 on banking transactions.
June 1, 2011 By Pugnatorius Ltd.
An article regarding the legal, tax and business aspects of a prudent accounting in Thailand.
May 22, 2011 By Guo Lian Law Firm
On 4 May 2011, China’s Ministry of Commerce (“MOFCOM”) published draft Administrative Measures Concerning Capital Contribution with Equity in relation to Foreign-invested Enterprises for public comments (“Measures”).
May 6, 2011 By Andreas Neocleous & Co LLC
The Russian Federation is one of the most important partners for the European Union. A key priority for the EU is to build a strong strategic partnership with Russia based on a solid foundation of mutual respect. Moreover, Russia is the largest neighbor of the EU with a dynamic market for EU goods and services and the EU’s market, on the other hand, is by far the most important destination for Russian exports.
Administrative Cooperation in the Field of Taxation (Council Directive 2011/16/EU of 15 February 2011) - Cyprus
April 18, 2011 By Andreas Neocleous & Co LLC
In April 2009, the European Commission issued a Communication on “Good Governance in Tax Matters” with the intention to launch a debate about concrete actions that could be taken to better promote the principles of good governance in the tax area (transparency, exchange of information and fair tax competition). The aim of the Commission to improve synergies between tax and development policies becomes concrete with the Council Directive 2011/16/EU of 15 February 2011.
Issuing Securities in U.S. Private Offerings – New Higher Standard for Accredited Investors - Israel
April 14, 2011 By S. Wimpfheimer, Aronoff & Co.
When issuing securities in private offerings to U.S. investors, issuers (from companies to investment funds) often look to the registration exemptions and safe harbors afforded by Regulation D of the United States Securities Act of 1933 (the “Securities Act”). One of the key components of an exempted Regulation D offering is the “accredited investor” – the individual with significant net worth and deemed to not be in need of the protections afforded by a registered offering.
April 7, 2011 By Guo Lian Law Firm
On 31 January 2011, the General Office of the National Development and Reform Commission (“NDRC”) issued the Circular on Further Regulating the Development, and the Administration on Filings, of Equity Investment Enterprises in Pilot Regions (“Circular”).
March 28, 2011 By Tenzor Consulting Group
Investing in commercial construction projects is an entrepreneurial activity that, according the Article 2 of the Legal Code of the Russian Federation, is undertaken at the investor’s own risk. Herein lies the primary difference in the consequences of a poor monetary investment by a legal entity or a private entrepreneur and the consequences of a developer not fulfilling his obligations before to the investor of the construction project.
March 28, 2011 By Tenzor Consulting Group
Relative quiet conditions in the investment market give time for reconsideration and principle restructuring of the elements of the given market sector. The participants again have a real opportunity to evaluate the efficiency of any given investment mechanisms.
March 27, 2011 By Blackfriars LLP
Part XIII of the Investment and Securities (ISA) 2007 creates collective investment schemes in Nigeria.
March 21, 2011 By Blevins & Hong, P.C.
Filing for bankruptcy is often a confusing and difficult topic for consumers – however, it is also an extremely important solution for those who are seeking financial stability. For this reason, it is very important that those who are considering it make sure that every step necessary is taken to help debunk common misconceptions.
March 17, 2011 By Amaris Law
A case study on enforcing a German judgment in P.R. China, showing exemplary pitfalls for foreign clients who intend to realize the enforcement of a foreign judgment in China.
March 16, 2011 By Andreas Neocleous & Co LLC
The presentation of a “Pact of Competitiveness” at the EU summit on 4 February by Germany and France was the plan for the Eurozone Member States to agree on a closer economic convergence in order to restore competitiveness to the euro area.
March 14, 2011 By Andreas Neocleous & Co LLC
As a general rule, a charge created by a Cyprus company conferring security on the company’s property or undertaking constitutes a charge registrable under Section 90 of the Companies Law CAP 113.
March 11, 2011 By Andreas Neocleous & Co LLC
Federal law 7-FZ “On clearing and clearing activity” dated 7 February 2011 and Federal law 8-FZ “On implementation of amendments to certain Russian laws in compliance with the Federal law “On clearing and clearing activity” dated 7 February 2011 (“the new clearing legislation”) have been adopted by the State Duma, approved by the Federal Council, signed by the President and officially published. They will enter into force on 1 January 2012.
March 10, 2011 By Wortels Lexus
The figures brought forward by our economists and the various statistics demonstrate the brightness of the banking sector in Mauritius. International and local papers usually praise such performance by using the figures as common denominator. On the other hand, is there anybody caring of the well being of the banks’ customer ?
March 8, 2011 By Guo Lian Law Firm
The National Development and Reform Commission (“NDRC”) is the leading regulator of China’s venture capital investment business. Its regulating power was granted under the Provisional Measures on Administration of Venture Capital Investment Enterprises (“Measures”) promulgated in 2005, which authorized the NDRC to regulate the business relating to venture capital investment at the central level.
February 20, 2011 By Rogerson Law Corporation
The author explains how to protect a medium sized estate from bankruptcy without going to the expense of establishing an offshore trust.
February 11, 2011 By Andreas Neocleous & Co LLC
Circulars issued by the Russian tax authorities in 2010 clarify their interpretation of certain aspects of the existing Cyprus-Russia double taxation agreement, specifically the presence required to give rise to a permanent establishment, the deeming of excessive interest as dividends and the treatment of the proceeds of liquidation of a Cyprus company in the hands of Russian taxpayers.
The State Council of PRC issued the Regulations on Administration of Registration of Resident Representative Offices of Foreign Enterprises(the "New Regulations") on November 19th, 2010 and the New Regulations will take effect on March 1st, 2011.
Unification of the Taxation of Foreign Enterprises, Foreign Invested Enterprises and Domestic Enterprises - China
The State Council issued the Notice on Unifying the City Construction Tax and Educational Surcharge of the Foreign Invested Enterprises, Foreign Enterprises, Foreign Individuals and Domestic Enterprises (the "Notice") on October 18th, 2010.
The PRC Supreme People's Court issued the Provisions on Several Matters Concerning the Hearing of Disputes Involving Foreign-Invested Enterprises (I) (the "Provisions") on August 16, 2010, which entered into force on the same day. The Provisions provide guidance for certain disputes arising from the establishment and changes in the registration of the foreign-invested enterprise (the "FIE").
Ministry of Commence of PRC issued the Notice on the Transfer of Approval Authorization of Foreign Investment (hereinafter the "Notice") on June 10, 2010.
Several Opinions on Further Improving the Work of Utilizing Foreign Investment (the "Opinions") were issued by the State Council of China (the "State Council") on April 6th, 2010.
The Notice on Further Administration of Registration of Foreign Companies' Resident Representative Offices (the "Notice") was issued by China's State Administration for Industry and Commerce ("SAIC") and the Ministry of Public Security jointly on 4th January, 2010.
A New Corporate Structure in Partnerships: A New Form of Investment for Foreign Enterprises and Individuals
Measures for the Administration on the Establishment of Partnership Business by Foreign Enterprises or Individuals in China (the “Measures”) shall come into effect as of March 1, 2010.
Foreign Exchange Administrative Measures Governing Overseas Direct Investment by Domestic Institutions
In order to encourage and regulate the overseas investment by domestic institutions, the State Administration of Foreign Exchange (SAFE) has issued the provisions, which will be effective on August 1st, 2009.
The “Measures” and the “Implementation” stipulate for the first time that some designated and qualified enterprises are allowed to implement the RMB settlement in cross-border trade in the pilot areas.
January 25, 2011 By Lidings Law Firm
As it is well known, one of the key conditions for opening a bank account is to submit a legal entity's constituent documents (subclause b clause 4.1. of the Central Bank Instruction № 28-I dated 14.09.2006 (the Instruction). However, both legal entities (clients) and credit organizations have been often confronted with a question: what are the requirements for copies of constituent documents which are submitted to a bank while opening an account?