Obligations on your jurisdictions

As businesses operate globally, navigating regulatory requirements across jurisdictions is essential. We provide a centralized resource outlining the specific obligations, compliance measures, and legal nuances that businesses must adhere to in our top jurisdictions. Whether you’re expanding your operations or ensuring ongoing compliance, our content aims to empower you with the knowledge needed to navigate […]

BVI removed from EU list of non-cooperative jurisdictions

BVI removed from EU list of non-cooperative jurisdictions

The British Virgin Islands (BVI) has been removed from the European Union (EU) list of non-cooperative jurisdictions for tax purposes on October 17th, 2023. The EU press release states: “British Virgin Islands was removed from the EU list of non-cooperative jurisdiction as it has amended its framework on the exchange of information on request (criterion 1.2) […]

Panama: 25% discount for early payment

We are pleased to inform you that the government of the Republic of Panama has enacted Law No. 401 on October 5, 2023 which establishes a special temporary measure providing a 25% discount on the Annual Government Tax for Panamanian private interest foundations and corporations that render their payment before November 30, 2023.Article 21 of this law states […]

BVI Annual Financial Return for Companies

The BVI Business Companies (Financial Return) Order, 2023 “the Order” has been published in the BVI Gazette and is deemed to have come into force as of January 1st, 2023. This means that every BVI company will be required to file an annual return with its BVI registered agent every year in the form, and […]

Panama | Accounting records requirements for legal entities

Accounting records requirements (Panama) | Law 52 of 2016, which establishes the obligation to keep accounting records requirements for certain legal entities, through Law 254 of November 11, 2021, introduced important amendments for legal entities that do not carry out operations that are perfected or consumed or have their effects within the Republic of Panama, as well as for legal […]

Belize | Economic substance reminder

Belize economic substance

Belize | Following our previous communication related to Economic Substance in Belize, we remind you that all IBCs must report their status in this regime on an annual basis through their Registered Agent to the Competent Authority, the Belize International Financial Services Commission (IFSC).  The Economic Substance Act, 2019 (ES Act) was enacted in Belize on October 12, 2019, and came […]

Belize Economic substance

Belize Economic Substance

Belize economic substance | The economic substance Act, 2019 (ES Act) in Belize was enacted on October 12, 2019, and came into force on January 1, 2019. This act applies to legal entities which are incorporated or continued under the International Business Companies Act (Chapter 270) – i.e. IBCs.  This legislation was introduced to address the concerns expressed by […]

Seychelles Beneficial ownership database

Seychelles beneficial ownership database

The Beneficial Ownership Act, 2020 (“BO Act”) came into force on 28 August 2020 along with the Beneficial Ownership Regulations (“BO Regulations”) imposing new requirements on Seychelles Legal Persons and Legal Arrangements (“Entities”).

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