Blog
Register of People with Significant Control of UK Companies
In an effort to increase transparency over who owns and controls UK companies and assist with anti-money laundering initiatives, from 6 April 2016, UK companies and limited liability partnerships will be required to identify and keep a register of Persons with Significant Control (PSC) of that entity. This register will…
BVI Register of Directors: An Update
In December 2015 we noted that the BVI had introduced a requirement to file a Register of Directors. There has now been a further update to the requirement to file a Register of Directors. This is now a mandatory requirement with effect from 1 April 2016. The filing dates and…
South Africa: Special Voluntary Disclosure Programme In Respect Of Offshore Assets And Income
In his Budget Speech on Feb 24 2016, the South African Minister of Finance announced what has been called a “Special Voluntary Disclosure Programme”. The program looks very similar to previous amnesties offered in respect of offshore assets and applies in respect of both Income Tax and Exchange Control, although…
Delta Africa Property Holdings Ltd Releases Mid-Year Results
Delta Africa Property Holdings Ltd (Delta) has just released its mid-year results, see below. Delta is a Mauritius GBC1 which is listed on the stock exchange of Mauritius and the main board of the Johannesburg Stock Exchange. Osiris is pleased to see this superb set of results being announced as…
South African Exchange Controls: A Planning Perspective
South African exchange controls were introduced into South Africa in 1978, and despite having been relaxed over the years, remain as firmly entrenched as ever. Certainly when I started work as an articled clerk in 1986, my principal at the time informed me that they would be abolished shortly. 30…
Astoria Investments Ltd: A Mauritius GBC1 With A Secondary Listing On Namibian Exchange
Astoria Investments Ltd is a Mauritius GBC1 with a primary listing on the Stock Exchange of Mauritius and a secondary listing on the Alt x of the Johannesburg Stock Exchange. These listings took place in November 2015. Astoria has now successfully concluded a further secondary listing on the Namibian Stock…
BVI FSC Confirm Delay of the Implementation of Common Reporting System (CRS)
On the 1st of January 2016 legislation to implement the CRS rules came into effect. Premier and Minister of Finance, Dr. the Honourable D. Orlando Smith, OBE, said last year that the Common Reporting Standard (CRS) has become the standard for automatic exchange of financial account information in tax matters and…
Mauritius Revenue Authority Confirm Delay of the Implementation of CRS
On the 22nd December the MRA announced that the 1 January 2016 implementation of CRS has been deferred. On 15 January 2016 they released a new communique announcing the following: “Further to our communiqué dated 22nd December 2015, this is to inform all stakeholders that the first exchange of information…
The 4th Protocol To The Treaty Between Hong Kong And China Enters Into Force
Hong Kong and China signed a protocol to the double tax treaty between them in April 2015. That protocol has come into force with effect from 29 December 2015. The protocol amends the existing treaty as follows: Profits from the operation of ships or aircraft in the other country will…
Hong Kong And China Sign The 4th Protocol To The Double Tax Treaty
Hong Kong and China signed a protocol to the double tax treaty between them in April 2015. That protocol has come into force with effect from 29 December 2015. The protocol amends the existing treaty as follows: Profits from the operation of ships or aircraft in the other country will…