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complexity

17 Results

New standard contractual clauses for transfers of personal data to third countries adopted by the European Commission
Regulatory & Tax

New standard contractual clauses for transfers of personal data to third countries adopted by the European Commission

This article discusses the adoption of new standard contractual clauses under Article 46 of the EU General Data Protection Regulation 2016/679 (GDPR) for the legitimisation of transfers to third countries which do not benefit from an adequacy decision – ie “international transfers”.
Why the Future of Private Capital Lies in the East
Investment Funds

Why the Future of Private Capital Lies in the East

In this special report, co-published by Preqin, Asia Head of Funds and Regulatory Maggie Kwok explores why the future of private capital lies in the East and why navigating regulatory issues will be a key consideration for investors managing the record US$1.6 trillion in private capital assets earmarked for the region.
Luxembourg public and private limited liability companies
Corporate

Luxembourg public and private limited liability companies

The incorporation of a Luxembourg public limited liability company (société anonyme) (SA) or a private limited liability company (société à responsabilité limitée) (SARL), which are the two most widely-used business entities in Luxembourg, generally requires a number of steps.
Continuation of a BVI company to Luxembourg
Corporate

Continuation of a BVI company to Luxembourg

Generally, Luxembourg law recognises that a company incorporated under a foreign system of law can migrate or continue its corporate existence to Luxembourg by transferring its registered office and its head office, without interruption of legal personality (Inbound Migration). Inbound Migration can be achieved provided that the company’s country of origin clearly permits the transfer without interruption of legal personality and the company adopts a Luxembourg corporate form, adapting its memorandum and articles of association (or similar constitutional documents) to comply with Luxembourg law.
Voluntary dissolution/liquidation in Luxembourg
Corporate

Voluntary dissolution/liquidation in Luxembourg

This guide gives an overview of the two options identified in the Luxembourg Company Law for the voluntary winding-up of an unregulated Luxembourg company, highlighting the key differences between the two procedures.
DAC 6 – D Day is imminent – Update of key elements
Regulatory & Tax

DAC 6 – D Day is imminent – Update of key elements

At a time when lengthy books are being written on the Sixth Directive on Administrative Co-operation in Tax Matters (DAC 6), it is a daunting task to summarise the key elements of DAC 6. However, with an eye on 1 January 2021 when the clock starts ticking for the various deadlines for the initial set of reporting obligations, there are some material elements that deserve particular focus. This article examines those elements in the context of the principal objective of DAC6, namely to require a wide range of intermediaries to provide tax authorities with early warning of arrangements that involve aggressive tax planning so that they can take the necessary action to examine those arrangements under existing tax rules and to amend the tax rules as appropriate to prevent their further use.
The 6th Directive on Administrative Cooperation (DAC 6) on cross-border reportable arrangements
Regulatory & Tax

The 6th Directive on Administrative Cooperation (DAC 6) on cross-border reportable arrangements

EU Council Directive (EU) 2018/822 (DAC 6) requires the mandatory reporting, principally by intermediaries but ultimately by taxpayers, of reportable cross border arrangements and the subsequent automatic exchange of information in relation to those arrangements between EU governments. The ostensible policy objective is to identify arrangements that involve aggressive tax planning at an earlier stage than when normal domestic tax reporting occurs.
Luxembourg: Practical aspects of using e-signatures in a cross-border EU transaction
Regulatory & Tax

Luxembourg: Practical aspects of using e-signatures in a cross-border EU transaction

It is becoming increasingly evident that the Covid-19 pandemic is having a significant impact on cross-border activity. The EU framework for electronic signatures (e-signatures) and online authentication will play an essential role in facilitating EU cross-border transactions in the future.
Executing documents electronically

Executing documents electronically

As much of the world is working from home during the Covid-19 pandemic, one of the issues which comes sharply into focus is how people execute contracts in a stay-at-home world. This note tries to set out the basic “do”s and “don’t”s in relation to using technology for document handling under BVI and Cayman law.