In the 1970s the late American cartoonist Walt Kelly coined the phrase “We have met the enemy and he is us.” This was derived from the American Commodore, Oliver Hazard Perry’s famous War of 1812 report of the Battle of Lake Erie to General William Henry Harrison in which he wrote: “We have met the […]
Is this the end of Russia as a source of business for international financial centers? On Nov. 24, 2014, Russian President Vladimir Putin signed Federal Law No. 376-FZ, with the unwieldy title: Concerning the Introduction of Amendments to Parts One and Two of the Tax Code of the Russian Federation (Regarding the Taxation of […]
a solution in search of a problem In June 2014, the government of Anguilla published for public consultation, a document entitled: “Enhancing the transparency of Anguillian company ownership and increasing trust in Anguillian business.” The document stated that the objectives of the consultation, which is currently ongoing until later in the summer, are to […]
Are they an option for international financial centers? Recent moves by the Turks and Caicos Islands (TCI) government to enact legislation to provide for an investor residency program has thrown into the spotlight the issue as to whether or not economic citizenship and residency programs could be an option for IFCs seeking to increase […]
On Aug. 12, 2013, the Eastern Caribbean Central Bank took control of Anguilla’s two indigenous banks, the National Bank of Anguilla Limited (NBA) and Caribbean Commercial Bank (Anguilla) Limited (CCB) under the powers granted to it under the Eastern Caribbean Central Bank Agreement Act which established the central bank within the laws of Anguilla.1 The […]
The data leak from the Panamanian law firm, Mossack Fonseca (MossFon), styled by the media as the Panama Papers, has been discussed, dissected and reported on ad nauseam over the past few months, and the issue will remain in the headlines for the foreseeable future. The purpose of this article is to lay out some […]
In June 2014, the government of Anguilla published for public consultation, a document entitled: “Enhancing the transparency of Anguillian company ownership and increasing trust in Anguillian business.” The document stated that the objectives of the consultation, which is currently ongoing until later in the summer, are to ascertain the public’s views on: Whether the commercial […]
Concerning certificates on public and private businesses’ technical competency and capability in IT and communication domains, the Ministries of Finance and Telecommunications and Information Technologies approved the collection of fees for issuing these registry certificates, and for approval, auditing and supervision of technology solutions or computer systems. The collection is efective as from July 1st. […]
By: Carlyle K. Rogers and Jean M. Dyer Recent moves by the Turks and Caicos Islands (TCI) government to enact legislation to provide for an investor residency program has thrown into the spotlight the issue as to whether or not economic citizenship and residency programs could be an option for IFCs seeking to increase government […]
By “securitisation” is meant the operation by which a securitisation vehicle acquires or takes on risks linked to loans, goods or liabilities accepted by a third party by issuing transferable securities the value or yield of which is dependent on these risks. Practically speaking, a securitisation operation consists of bringing together a group of assets […]
On November 27, 2014 Law No. 5,134, which regulates lawyers’ and solicitors’ fees who work in the City of Buenos Aires (hereafter the “Law”), was published in the Official Gazette. The Law, which was promoted by Jorge Rizzo and Daniel Lipovetsky from the City of Buenos Aires’s Bar Association (“CBABA”), was approved in a special […]
The SOPARFI (Société de Participations Financières) is not a special type of company but an ordinary commercial entity governed by common law, specifically the 1915 Law on commercial companies. It does not enjoy any special tax regime and is fully taxable. There are no restraints on its field of activity. A Soparfi can, however, significantly […]