Are you aware of the news involving companies located in Uruguay? Uruguay has implemented the concept of Economic Substance to comply with European Union directives. The legislation was passed in mid-December 2022 and took effect on January 1, 2023. The main difference between Uruguay’s concept of Economic Substance and that …
As a result of the January 2021 Corporate Transparency Act, privately held US entities (LLCs, partnerships and corporations) and certain foreign companies doing business in the US will be required to report information to the US Treasury (FinCen) about their beneficial owners. This legislation aims to prevent money laundering, terrorism …
BENEFICIAL OWNERS IN THE USA: REPORTS WILL BE MANDATORY FROM JANUARY 2024 Read More »
Some jurisdictions have recently undergone changes in 2023 (or will undergo changes throughout the year). One of these changes refers to the Public Registry of final beneficiary (“Beneficial Ownership”). On November 22, 2022, the Court of Justice of the European Union (“CJEU”), determined in a preliminary decision that public access …
