Foreign Corporations

News & Analysis as of

Why Set up a Local Company in the UAE?

Dubai is a well-respected pathway to the East, and since it became a financial hub, companies that engage in all types of business activities are now looking to establish a presence here. Setting up a Local Company is an...more

Alert: New US Debt-Equity Rules Target Earnings Stripping

On October 13, 2016, the IRS and the Treasury Department issued new rules largely designed to prevent highly related corporate taxpayers from claiming the tax benefits of “earnings stripping,” or the payment of excessive...more

Final and Temporary Debt-Equity Regulations Under Section 385 Implement Highly Favorable Changes

On Oct. 13, 2016, the U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued final and temporary regulations under Section 385 governing the treatment of certain instruments as debt or equity...more

UAE Freezones: Ras Al Khaimah

Ras Al Khaimah Free Trade Zone (RAK FTZ) is a free zone based in RAK and was established in 2001. The free zone has over 5,000 companies as its members cover various fields and economic activities....more

Doing Business in the Kingdom of Saudi Arabia

As the third largest recipient of foreign direct investment in the region, not to mention its standing as the region’s largest economy, the Kingdom of Saudi Arabia is of significant interest to foreign investors, particularly...more

Business Laws and Regulations in Dubai, UAE

With its stellar growth, Dubai has been known for alluring every business opportunists due its efficient licensing rules, infrastructure, and ease of work. In a survey "the World Bank's Ease of Doing Business Survey for...more

Minimizing Tax on Gain from the Sale of Stock of Latin American CFCs

The United States currently has only two income tax treaties in effect with Latin American jurisdictions: Mexico and Venezuela. As a result, most individual taxpayers who recognize gain from the sale of stock of a controlled...more

Second Circuit Affirms Exclusion of Certain Foreign Purchasers and Purchases from Securities Class Action

The U.S. Court of Appeals for the Second Circuit issued a lengthy opinion today in the long-running In re Vivendi, S.A. Securities Litigation, affirming the jury’s verdict on liability and addressing issues about loss...more

Representative Offices or Foreign companies in the UAE

The Commercial Companies Law covers the formation and regulation of Branches and Representative Offices of foreign companies in the UAE, and stipulates that they may be 100% foreign owned provided that a local service agent...more

Second Circuit: “C” is for Comity; Price Fixing Judgement Against Chinese Vitamin C Sellers Reversed

Last week, in In re Vitamin C Antitrust Litigation, the US Court of Appeals for the Second Circuit (“Second Circuit”) vacated a $147 million jury award against Chinese vitamin C sellers Hebei Welcome Pharmaceutical Co. and...more

Does California Corporate Law Really Govern 20% of All Public Companies?

On Tuesday, the Deal Professor (aka Berkeley Law School Professor Steven Davidoff Solomon) wrote an interesting column for The New York Times’ Dealb%k. According to the Professor, California is the headquarters state for 20%...more

California Supreme Court Decision Could Allow for Greatly Expanded Personal Jurisdiction

The California Supreme Court’s recent opinion on specific jurisdiction may have far-reaching consequences for future actions brought in the state. In the recently published opinion in Bristol-Myers Squibb Co. v. Superior...more

Unanimous Colorado Supreme Court Issues Precedential Ruling on General, Tag Jurisdiction

In a closely watched case, Monday’s Colorado Supreme Court decision in Magill v. Ford Motor Co. established two precedents that will make it harder to sue foreign corporations in Colorado going forward. The underlying...more

U.S. Citizens Retiring Abroad: “Tax Trigger” Situations and Related Disclosure Forms

The following is a bolded checklist of important situations that may “trigger” a tax review by a skilled United States tax professional. Many of these situations also require a simultaneous review by a foreign tax...more

Federal Circuit Review | August 2016

Federal Circuit Holds That Using A Contract Manufacturer Does Not Trigger An On-Sale Bar - In The Medicines Co. v. Hospira, Inc., Appeal Nos. 2014-1469, -1504, the Federal Circuit, en banc, held that the patentee’s deal...more

Breaking News – California High Court Expands “Specific” Personal Jurisdiction To Recreate “Exorbitant” Personal Jurisdiction...

It’s been two years since the First District California Court of Appeals issued its ill-founded decision in Bristol-Myers Squibb Co. v. Superior Court, 175 Cal. Rptr. 3d 412 (Cal. App. 2014), which used specific personal...more

Recognition of foreign insolvency processes in Colombia

On the 10th of June, during the second part of a hearing with a massive attendance the Superintendence of Corporations (the "Superintendence"), such authority recognized in Colombia the process of insolvency that Pacific...more

Cancellation of CFC Loans to US Shareholders – Should the Service Get a Second Bite at the Apple?

The Service generally has three years after a return is filed to assess any tax due for that year. There are a number of exceptions to this general rule, such as where a taxpayer files a false return or omits more than 25...more

Rules of the (International) Road, Brexit, PPP as a New Tool for Argentina, and Keeping Non-U.S. Companies Safe from Suit (Expect...

- Post-Daimler: Are Non-U.S. Companies Safe from Suit in U.S. Courts? What if the Non-U.S. Parent Registers to Do Business in a State? - Rules of the (International) Road: Choosing and Appointing a Distributor ...more

Rules of the (International) Road: Choosing and Appointing a Distributor

Appointing an agent to sell to businesses in your chosen country on your company’s behalf may be a good first step toward penetrating a foreign market, as we previously discussed in Rules of the (International) Road: Make and...more

Post-Daimler: Are Non-U.S. Companies Safe from Suit in U.S. Courts? What if the Non-U.S. Parent Registers to Do Business in a...

For decades, U.S. courts have been preferred venues for plaintiffs’ lawyers seeking to sue non-U.S. companies. This is due to the perception that American juries award vastly greater recoveries than those outside the United...more

New Delaware Chapter 15 Filing – Altos Hornos de México, S.A.B. de C.V.

Francisco Javier Gaxiola Fernández, the foreign representative of Altos Hornos de México, S.A.B. de C.V. (the “Debtor”) in a proceeding under Mexico’s Bankruptcy and Suspension of Payments law pending before the First Civil...more

The SBEEA: Register of Significant Beneficial Ownership

The SBEEA (Part I: People with Significant Control) - Against the backdrop of an increasing push for greater transparency of company ownership, the Small Business Enterprise and Employment Act 2015 (“SBEEA“) took effect on 6...more

Secondary Listings on the SGX – Key Requirements and Considerations

As at 13 January 2016, there are 34 companies with a secondary listing on the Singapore Exchange Securities Trading Limited (the “SGX”). Out of these companies, 7 achieved their secondary listing on the SGX in the past 5...more

IRS Wins Debt vs. Equity Case

A frequent area of dispute between taxpayers and the IRS is whether an indebtedness obligation should be treated as debt, or an equity investment, for income tax purposes. Taxpayers often seek debt treatment to obtain...more

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