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U.S. Records to Be Wiped From the BOI Database The agency is going a step further than simply halting future filings. FinCEN says it will purge from its BOI database any records it reasonably believes relate to U.S. persons — including previously filed details on beneficial owners, company applicants, and individuals holding FinCEN identifiers. [...]
Company Registration in Saint Vincent and the Grenadines: What Has Changed? First, under the new regulations, all companies in Saint Vincent registered after January 1, 2019, are designated as Business Companies (BC) rather than International Business Companies (IBC). In other words, it is no longer possible to register an IBC in Saint Vincent after 2019. [...]
Summary 6-9 days None None None Allowed None Territorial Income earned within the territory of Costa Rica is subject to taxation 30%, 20%, or 10% — applied to income earned within the territory of Costa Rica If the profit is generated outside of Costa Rica, [...]
Summary 5-7 days There are no requirements for IBCs, but there are requirements for partnerships None Available Required 20% Relative to other countries Medium Medium General Information about the Jurisdiction Montserrat is a British [...]
Why Is It Needed? Recognition of Documents Abroad Without an apostille or legalization, Canadian documents may not be considered valid in other countries. Who Needs It? Individuals relocating, working, studying, or getting married abroad. Companies conducting international business or submitting documents to foreign authorities. When might this be necessary? Legalization and apostille may be [...]
The Dominance of the U.S. Dollar The U.S. dollar's status as the world's primary reserve currency creates inherent jurisdictional exposure for international transactions. For instance, the U.S. dollar accounts for approximately 58% of global foreign exchange reserves and is involved in 88% of international transactions. This effectively extending US sanctions enforcement reach worldwide. Three key [...]
What is EAR (Export Administration Regulations)? The US Export Administration Regulations are a set of regulations administered and overseen by the Bureau of Industry and Security (BIS) under the US Department of Commerce. These regulations control the export, re-export, and in-country transfer of certain items for reasons of national security, foreign policy, and short [...]
Background on the Corporate Transparency Act The Corporate Transparency Act (CTA) was originally enacted to combat illicit financial activities (such as money laundering and terrorism) by requiring companies to disclose their beneficial ownership information to FinCEN. Before this change, the CTA imposed BOI reporting requirements on both domestic and foreign reporting companies. Previously, reporting [...]
What is a DAO A decentralized Autonomous Organization (DAO) is a type of “blockchain organization" that is structured to operate without a central governing body. In other words, a DAO is a company that relies on blockchain technology and smart contracts to automate traditional decision-making and management processes. Members of a DAO hold crypto [...]
Relative to other countries Low Short Important Changes in the BVI in 2019: Economic Substance What happened on January 1, 2019, in the BVI? The Economic Substance Act came into effect, requiring some companies registered in the BVI to meet economic substance requirements (economic substance [...]
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