Unravelling
Complexity

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Unravelling Complexity

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Act now – Don’t get struck-off
Corporate

Act now – Don’t get struck-off

Following recent changes to BVI legislation, companies in the British Virgin Islands risk being struck-off by the registrar for not filing particulars of their directors.
BVI Legal Update - Autumn 2018
Investment Funds

BVI Legal Update - Autumn 2018

Over the last few months, the British Virgin Islands has introduced a number of innovative new and updated laws, enhancing the range of commercially attractive legal structures available in the jurisdiction. The next exciting chapter will be revealed on 1 October, when amendments to the BVI Business Companies Act (BCA) will come into force to expand the use of segregated portfolio companies (SPCs) beyond the funds and insurance sectors. This update looks at the expanded use of SPCs, the new Limited Partnership Act, the Micro Business Companies Act and amendments to the Anti-Money Laundering Code to allow electronic AML checks.
Microbusiness Companies Act 2017: Good things come in small packages
Corporate

Microbusiness Companies Act 2017: Good things come in small packages

The value of microbusiness to both developing and developed economies is well documented, but whilst developments in microfinance, policy and regulation of micro enterprises are evolving, the same cannot be said of the corporate infrastructure. The Microbusiness Companies Corporations Act 2017 is designed to bridge the gap between sole traders working in the informal economy, that at some point in their growth cycle, needed to make the leap to full incorporation within the regulated formal economy.
China’s Belt and Road Investment in Africa and the Use of Offshore Finance
Corporate

China’s Belt and Road Investment in Africa and the Use of Offshore Finance

Offshore vehicles are beneficial for private investors’ participating in the the “Belt and Road” initiative (BRI) which was instigated by the Chinese President Xi Jinping in 2013 to convert what was once known as the Silk Road to a modern trade and economic cooperation project spanning 71 countries.
CIRC Promotes Foreign Private Equity Participation in Restructurings
Corporate

CIRC Promotes Foreign Private Equity Participation in Restructurings

On 29 June 2018 the China Insurance Regulatory Commission (CIRC) issued its Administrative Measures for Financial Assets Investment Companies (Trial) (the Measures). The overall gist of the Measures is to bring about deleveraging and meaningful restructuring of indebted companies (both balance sheet and operational). To achieve this goal, the CIRC wants domestic banks to be shareholders of financial asset investment companies, and will also allow any proportion of foreign investor participation.
Continuing obligations for Cayman Islands exempted companies
Corporate

Continuing obligations for Cayman Islands exempted companies

All exempted companies incorporated in the Cayman Islands are subject to the continuing obligations set out in the Companies Law. In addition, those companies which are regulated by the Cayman Islands Monetary Authority (CIMA), such as banks, mutual funds, mutual fund administrators, insurance companies, insurance managers, trust companies and others are subject to additional requirements.