Seychelles: New accounting records obligations
The Seychelles Government has introduced new legislation that significantly increases the accounting records keeping requirements for International Business Companies (IBCs).
Marbury
Increased penalties for employing overstayers in Hong Kong after changes to Immigration Ordinance
The Immigration (Amendment) Bill 2020, which came into effect on 1 August 2021, imposes increased penalties for employers who employ individuals not lawfully employable, and now covers overstayers.
BVI: New Registry filing fee for the first Register of Directors
Further to the BVI Business Companies (Amendment of Schedule 1) Order, 2021, a fee of USD75 will be introduced for filing of the first register of directors. Please note that a filing fee of USD75 will be added to the incorporation of all BVI companies incorporated on or after 1 Jul 2021.
OVERVIEW: A Look at the Approved Manager Regime in the BVI
The Approved Fund Manager regime in the British Virgin Islands has been in force since 2012 and was designed to cater to start-ups, but is equally attractive to established small and medium-sized funds. Until recently we could count the number of AFMs in the structures we administer on one hand. However this has changed rapidly over the last 6 months. Increasingly we find this regime to be of interest to managers of global funds or where managers require an additional leg to their investment advisory function, often for specific investment purposes.