Main aspects of succession in the United States Testate Succession: In the United States, the leading principle is the total freedom of testator when drafting his or her will. There are no limitations except regarding the rights of the spouse which vary according to the laws of each State. In this sense there are two […]
Read MoreMain amendments to New Zealand’s Foreign Trusts The Bill submitted on August 2016 proposed several amendments to New Zealand’s Foreign Trust regime, among the most relevant are the following: 1 Foreign Trusts Registration: Information requested through the IR 607 Form will be broadened according to information indicated below. This information must be disclosed by all […]
Read MoreArticle 4 of Decree 330/16: possibility to realize up to 5% of the free trade zone income in the non free trade zone territory Last October 13, the Uruguayan Executive Power issued Decree No. 330/016 within the frame of its investment promotion policy, setting a series of measures that intend to promote investments for the […]
Read MoreDraft Law regarding banking secrecy amendments, Tax transparency in Uruguay in relation to Ultimate beneficial owner registration In 2004, Uruguay started to change its policies with the announcement of the Law against money laundering in order to emerge from ambiguity and open up to international economic insertion. Uruguay’s development strategy aims to adopt measures to […]
Read MoreThe spirit that connects us As these significant dates of the year arrive, it is essential for us to reflect on the twelve months that have already gone by to keep on improving as a team and as a company. In good spirit it is necessary for us to understand which are the changes that […]
Read MoreTypes of shares in Uruguayan companies Shares are equal parts in which the capital of a company is divided. In Uruguay, according to the Commercial Companies Act No. 16.060, all shares must be indivisible and have a nominal value. According to this Act the types of shares of Uruguayan companies maybe classified following the following […]
Read MoreBill of Law on the Modification of the Banking Secrecy and Tax Transparency in Uruguay regarding the Final Beneficiaries Registry This past July 15, the Uruguayan Executive Power sent to Congress a Bill of law with modifications to the banking secrecy and tax transparency norms. With this Bill the Uruguayan government not only set the […]
Read MoreBarbados advantages in estate planning For purposes of estate planning, Barbados Island offers the following advantages to take into consideration: Follows international standards in tax and tax information exchange matters: Barbados is a signatory of the Multilateral Convention on Mutual Administrative Assistance in Tax Matters in 2015, which will enter into force on the month […]
Read MoreFATF Recommendations on the fight against money laundering and terrorism financing The Financial Action Task Force (“FATF”) through its recommendations aims to establish and promote standards to fight money laundering, financing of terrorism and proliferation of massive destruction arms, as well as any other threat to the international financing system. Said recommendations are a series of […]
Read MorePanama´s Petition to enter the Multilateral Convention on Mutual Administrative Assistance in Tax Matters The Multilateral Convention on Mutual Administrative Assistance in Tax Matters emerged from the joint effort between the Organization for Economic Co-operation and Development (“OECD”) and the Europe Council 1988 and suffered an amendment in 2010 to adjust it to the new […]
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