Effective 1 January 2024, Hatstone Lawyers (BVI) Limited rebranded as Folio Legal Limited, Hatstone Funds Services Limited as Folio Funds Limited and Hatstone Trust Company (BVI) Limited as Folio Trust Limited combining legal, fiduciary, corporate and fund administration expert bespoke services in one group.
British Virgin Islands – Substantial Amendments to the BVI Business Companies Act, 2004
Overview The enduring popularity of the British Virgin Islands (“BVI”) business company with international investors is among the key reasons for the success of the BVI financial services industry. The BVI regulatory system is often tweaked to maintain competitiveness and compliance with international standards. Therefore, any amendments to the BVI Business Companies Act 2004 (the […]
Announcement – Hatstone Group new office opening in Dublin, Ireland
International boutique legal, corporate and trust services and investment fund administration group Hatstone has today announced the establishment of its European hub in Ireland, joining forces with the partnership formerly known as Tully Rinckey (Ireland) LLP.Hatstone Ireland specialises in banking and finance, corporate and commercial, funds, property, employment and litigation. The Dublin office is part […]
Foreward by Andrew Chilvers When the 5th Anti-Money Laundering Directive was introduced into law by the UK and EU in January 2020, for many professionals it was a much needed addition to legislation that would significantly help business transparency and combat money laundering. In essence, it was good for business and for public and professional […]
As previously communicated in a briefing note, the British Virgin Islands (BVI) enacted the BVI Mutual Legal Assistance (Tax Matters) Amendment Act, 2018 (the Act) which directly impacted upon CRS reporting obligations on several levels. The Act and the BVI Guidance Notes on CRS require that all BVI Financial Institutions (FIs) establish, implement and maintain written […]
Panama introduces a Beneficial Owner Register and extends the Tax Amnesty
Law No. 129, which deals with the establishment and regulation of a beneficial owner register, was approved in Panama on 17 March 2020 and became law on 20 March 2020. In summary, the new Law requires a resident agent to file certain information in relation to the ultimate beneficial owner (the “UBO”) at the Superintendence […]
Bill No. 169 (the “Bill”), which deals with the establishment and regulation of a beneficial owner register, has been approved by the Panamanian National Assembly. The Bill will become law once executed by the Panamanian President and published in the Panamanian Official Gazette. The Bill requires resident agents to file relevant information, such as details […]
Hatstone is pleased to announce the appointment to Group Partner of Bella Ward, who will be based in the Hatstone’s Jersey office. Bella specialises in banking, finance, corporate, commercial and real estate transactions. She has a significant practice leading cross-border corporate, banking and capital markets transactions. Prior to joining Hatstone, Bella worked in the banking and […]
Hatstone has in the last six months promoted four of its lawyers in South Africa. Dr Erin Nel, who is an international trust and compliance specialist, was promoted to Senior Associate. Her role entails dealing with regulatory and trust-related matters, drafting corporate agreements and documents, wealth management, as well as supporting the Hatstone Group with local and […]
Hatstone’s Jersey office is delighted to announce the promotion of two of its lawyers. Private client specialist Michael Shenkin has been promoted to Of Counsel and corporate lawyer Marianne Hendry has been promoted to Senior Associate. Michael advises trustees, beneficiaries, family offices and private individuals on the establishment, maintenance, administration and governance of their structures […]
Panama has recently approved a new law, Tax Amnesty in Panama Law 99 of 2019 (the “Law”), relating to outstanding fines and penalties payable by Panamanian companies and foundations. Currently, companies and foundations that do not pay their annual tax of $300 and $400 respectively incur fines and penalties, which over time do add up. […]
BVI – Economic Substance ‘Rules and Explanatory Notes’ Published
On October 9, 2019, the BVI International Tax Authority published the final version of their ‘Rules and Explanatory Notes’ (the “Rules”) on Economic Substance. The Rules replace the draft BVI Economic Substance Code (the “Code”). The Rules provide very important guidance and explanatory notes to assist with the interpretation of the Economic Substance (Companies and […]
