Offshore Companies

News & Analysis as of

The Inversion Craze: Will Today's Routine Tax Planning Be Retroactively Outlawed?

Alongside the more typical summer fare, such as coverage of the best beach reading and the latest action movie blockbuster, this summer the media have been abuzz with seemingly daily reports on the latest so-called...more

SEC Efforts To Compel SIPIC Coverage For Stanford Victims Rejected

The D.C. Circuit rejected efforts by the SEC to compel the Securities Investor Protection Corporation to liquidate a broker-dealer that was part of the Stanford Ponzi scheme empire. The investors had purchased CDs from an...more

A Guide to the Cyprus Holding Company Regime

Why set up a holding company? In essence, holding companies are set up as an effective means of consolidating ownership of operating subsidiaries. Deciding where to set up a holding company is not always a tax driven...more

Export Controls in UK Offshore Centers

Many private equity and investment funds are organized as limited partnerships or companies of offshore entities. Similarly, companies may structure mergers and acquisitions by utilizing offshore holding entities. The British...more

IRS Pursues 409A Audits, Issues Ruling on Certain Options/SARs under 457A

IRS audits signal focus on Section 409A compliance; Revenue Ruling makes certain nonqualified options and stock appreciation rights more attractive for offshore entities. The IRS has begun its limited audit initiative...more

Cayman Liquidation Committees – What Prospective Members Need to Know

In this guide Harneys considers the role and function of a liquidation committee appointed under the Cayman Islands’ Companies Winding Up Rules. A vital component in the liquidation of a Cayman Islands company is the...more

DOJ Waging War Against Offshore Shell Companies

A Florida doctor was recently sentenced to multiple years in prison for income tax evasion. The taxpayer hid income and assets through the use of offshore bank accounts concealed by the use of offshore shell companies. This...more

Focus On The British Virgin Islands

Philip Graham, Of Harneys Talks To HFMweek About The Trends And Developments Of The Hedge Fund Sector On The British Virgin Islands - HFMWEEK (HFM): WHAT ARE THE MAIN TRENDS SPECIFIC TO THE FUNDS INDUSTRY IN THE...more

Inversion Transactions Likely to Continue and Expand into Other Markets and Industries

During recent months there has been a surge in cross-border M&A activity in which U.S. and non-U.S. companies combine in so-called inversion transactions. Examples of these transactions are Endo International’s acquisition of...more

Information Letter: Update on legislative developments in Russia. Governmental De-offshoring initiatives. Proposed new CFC and...

When it was first revealed by President Vladimir Putin a few years ago that the offshore-backed modus operandi for the Russian economy could no longer be tolerated, very few could have predicted that the Government would be...more

Judge Finds Illinois Insurance Department's Policy Prohibiting Offshoring To Be Improper Rulemaking

On November 27, 2013, the Circuit Court of Cook County, Illinois issued an Order in a lawsuit filed by the American Council of Life Insurers, Inc. ("ACLI") v Andrew Boron, Director of the Illinois Department of Insurance and...more

Bill on Bankruptcy: Big Time Lawyers Pricing Themselves Out [Video]

Dec. 19 (Bloomberg) -- Two significant Chapter 11 reorganizations in the Southern U.S. may be signs that lawyers in New York and Delaware are starting to price themselves out of the market, as Bloomberg Law's Lee Pacchia and...more

Succession planning for your shares in a BVI company

Death and taxes, despite our best laid plans, are still with us. While trying to legally reduce your tax liability has become politically unacceptable and unfortunately, there is still not much we can do about death, there...more

July 2013: Russia Litigation Update - Case Study: Russian Courts Adopt Practical, Less Formalistic Analysis of Activities of...

In two recent cases, the Presidium of the Supreme Arbitrazh Court of the Russian Federation (the “Presidium”) addressed important issues concerning activities of representative offices of foreign companies in Russia and...more

Special Alert: The SCC Resolution on offshore entities' disclosure of beneficial owners

In a special alert circulated in April this year, we provided an overview of a ruling of the Supreme Commercial Court of the Russian Federation (“SCC”) dated 9 January 2013 No. 14828/12 on case No. A40-82045/11 (the “Ruling”)...more

Global Insights - Issue 6, Q2 2013: News, Views and Analysis from DLA Piper’s Global Restructuring Group

In This Issue: - (UK) The Validity Of Exit Consents Under English Law - (UK) When A Charity Faces Financial Difficulty - (UK) Are You At Risk From Financial Distress In Your Supply Chain? - (Global Europe)...more

Proposed Legislation Would Sweep Certain Offshore Corporations into the U.S. Tax Net and Subject Their Worldwide Income to U.S....

The Stop Tax Haven Abuse Act and the International Tax Competitiveness Act of 2013 are two parts of a package of three bills introduced in the U.S. House of Representatives on April 15 by Rep. Lloyd Doggett. A significant...more

Offshore Litigation Tools for Local Disputes

British Virgin Island (“BVI”) and Cayman Islands companies have been a popular choice of investment vehicle for Hong Kong and Chinese companies and individuals. This article explores the key tools available to members of BVI...more

Client Insight: SCC Resolution on offshore entities' disclosure of beneficial owners

This alert examines a recent resolution of the Presidium of the Supreme Commercial Court of the Russian Federation (“SCC”) dated 26 March 2013 No. 14828/12 on case No. ?40-82045/11 (the “Resolution”). The Resolution addresses...more

Growing Trend in Re-Shoring: Exploring Termination/Expiration Provisions

A recent special report in the Economist focused on the general state of the offshore outsourcing industry, with a particular focus on the emerging trend of companies relocating the performance of IT services from offshore...more

The British Virgin Islands and Investment Funds

This Guide provides an overview of the various investment fund vehicles available in the British Virgin Islands. This Guide concentrates on regulated investment funds and, in particular, offshore hedge funds, since these...more

UK property tax changes: “de-enveloping” or a use of a trust?

It has long been popular for high net-worth people who are not domiciled in the United Kingdom (“non-doms”) to form an offshore company, often in the British Virgin Islands (“BVI”), for the purposes of holding property in the...more

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