On February 5, 2016, the Luxembourg Caisse de
Consignation has released a series of frequently asked
questions summarising the key aspects related to the Luxembourg law
of 28 July 2014 regarding immobilisation of bearer shares and units
(the "2014 Law").
The FAQ provides useful information with regard to the scope of
the 2014 Law and the obligations for companies that issued bearer
shares before and after the entry into force of the 2014 Law.
Further on, the paper covers inter alia (i) the method
to calculate the price of the shares when cancelling
non-immobilised bearer shares, (ii) the procedure for the reduction
of capital, (iii) the required documents to be submitted when
depositing the assets with the Caisse de Consignation,
(iv) applicable fees, and finally (iv) the list of documents that
must be presented to the Caisse de consignation by the
holder of a certificate representing the bearer share(s) cancelled
in order to receive the price corresponding to the capital
The Luxembourg Bankers' Association (ABBL) and the
Association of the Luxembourg Fund Industry (ALFI) have prepared an
English language translation of the FAQs that can be accessed here. Additionally, the Commission de Surveillance du Secteur
Financier has prepared its own version of FAQ regarding the
main aspects regulated by 2014 Law. The CSSF FAQ can be accessed
Following public consultation during 2016 and early 2017, legislation has been passed which will require Cayman Islands companies (but not partnerships) to maintain registers of beneficial ownership at their registered offices.
The Hong Kong market is presently faced with an increase in mainland private enterprises listing on the local exchange, resulting in shell planting and volatility in stock prices in the Growth Enterprise Market.
Choosing the right form of setup that can best suit a particular situation is important for a business owner. Here, we outline the major characteristics of the three forms of registration that foreign enterprises normally choose when registering a presence in Hong Kong.
Confidentiality of corporate documents and information is one of
the key attractions of incorporating a company in the BVI. A
company search of the BVI Registrar of Corporate Affairs will only
disclose certain information and documents.
In this case, the Court made it very clear that any arrangement which detracts from the ability of regulators or law enforcement authorities to identify beneficial owners of companies...
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