Insight into the international companies regime
International companies are a core feature of international financial centres. This section of the website provides cutting edge analysis of key developments in the companies sector. This section examines the latest regulatory, product and service initiatives from all international financial centres which operate companies regimes.
The articles are written by leading experts in the centres and from the IBC sector. It provides exceptional insight into the major trends in funds management and comparative analysis of regimes worldwide.
CLICK on the links below to read the insight of leading practitioners and industry analysts.
Most international financial operate company registries. It is a core source of business for the jurisdictions. Some IFCs draw the bulk of their income from international business companies (IBCs). This section is a guide to the company registers in each territory and the prevailing company formation and registration requirements. In almost every centre, there is a government or quasi-government body which manages the registers for the different types of companies. Some centres have made strenuous efforts to update and modernise their company registration services so that they can compete effectively with the major jurisdictions for new business.
Simon Perchard, director of wealth structuring, Volaw Trust Company in Jersey, commenst on a new trend in corporate domicile. Luxembourg, acting under pressure from the European Commission, has agreed that from the end of 2010 the favourable tax treatment given to Luxembourg Holding 1929 companies will be removed, as their tax-exempt status violates EU state aid rules and the Code of Conduct for Business Taxation.
The tax advantages of Luxembourg 1929 holding companies come to an end next year. James Hill, John Lewis, Marcel Cariou and Katharine Skulski of Mourant argue that there has been a significant increase in interest in clients wanting to make the shift. They describe the process of migrating from Luxmbourg to either Jersey or Guernsey.
Joe Gavin, at LK Shields in Dublin, comments on EC proposals for new credit rating agencies. As the credit crisis continues to affect confidence in the global financial market, the EU plans to adopt radical legislative measures for the oversight of credit rating agencies (CRAs).
In financing transactions it is common for companies of the borrowing group to provide some sort of security, such as security over the shares in companies of the borrowing group, including offshore entities, either by taking legal or equitable security over the shares.
The current fiscal uncertainty and difficult economic climate is incentivising corporates to leave the UK’s tax regime in favour of jurisdictions with more benign tax regimes. Mark Lewis, of Appleby, looks at the options available to the boards of companies considering relocation.
The ILS Group provides a guide to PCCs
Bill Gibbon, of Volaw, describes the experience of Jersey's ICCs
The Guernsey Registry takes a massive step forward