News & Analysis as of

Foreign-Owned Corporations

Prepare Now for 2018 Reporting of Foreign-Owned U.S. Disregarded Entities

by McGuireWoods LLP on

Late last year, the U.S. Treasury imposed new information reporting obligations on certain foreign-owned U.S. “disregarded” entities — that is, certain U.S. entities that are wholly owned by one non-U.S. person so they are...more

Foreign Investment in China: An Introduction

China presents some of the world’s most exciting opportunities, and a unique set of cultural, legal and political challenges. It has a distinct legal regime that in many respects cannot be understood by direct reference to...more

GDPR is Coming -- Are You Prepared?

by Exterro, Inc. on

What is the GDPR? The General Data Protection Regulation (GDPR) is a comprehensive data protection law created by the European Union and comes into effect on May 25, 2018. It replaces the Data Protection Directive. Its...more

Newsflash: Tax Court Reverses IRS Revenue Ruling

by Dechert LLP on

A recent U.S. Tax Court case, Grecian Magnesite (149 T.C. No. 3, July 13, 2017), has declared invalid the long-standing U.S. government position that a non-U.S. person’s sale of an interest in a partnership (in this case, a...more

Investing in China Key Challenges and Mitigation Strategy

In early 2005, a subsidiary of listed Hong Kong and China Gas Company Limited (0003.HK) bought a controlling stake in a Chinese joint venture company. Initial payments were made, but then the audited financial statements...more

China opens up the securities investment fund management industry: the first in a journey of ten thousand steps?

by Hogan Lovells on

On 30 June 2016, the industry self-regulating body, the Asset Management Association of China published what, on the face of it, appeared to be a fairly innocuous document entitled Questions and Answers regarding the...more

Combatting Foreign Tax Evasion With New Filing Requirements for Foreign-Owned Disregarded Entities: Tax Update, Volume 2017, Issue...

by Pepper Hamilton LLP on

If a non-U.S. person (individual or corporation) owns 100 percent of the stock of a U.S. corporate subsidiary, the subsidiary needs to obtain an employer identification number (EIN) and maintain adequate books and records to...more

Shanghai Revises Policy to Attract Establishment of More Regional Headquarters

For the past 20 years, Shanghai has been the home for regional headquarters (“RHQs”) for multinational companies that have extensive investments in China. By the end of 2016, 580 RHQs were established by multinational...more

Final Regulations Impose Reporting Obligations on Foreign-Owned Domestic Disregarded Entities 

Amid the Panama Papers leak and international concern that foreign persons were concealing assets through U.S. entities that are disregarded for U.S. federal income tax purposes, the Internal Revenue Service (IRS) and the...more

National security reviews: A global perspective — United States

by White & Case LLP on

Deals are generally approved, but a wide range of mitigation conditions may be imposed that can have a significant impact. The Committee on Foreign Investment in the United States (CFIUS), which is led by the US...more

China to Allow Foreign Asset Managers to Operate Local Funds

by K&L Gates LLP on

Recently, the Asset Management Association of China (“AMAC”) issued a Q&A on Private Securities Fund Registration (No.10) (“Q&A No.10”), under which foreign asset managers are allowed to form a wholly foreign-owned enterprise...more

China's New Foreign Investment Regime

Effective 1 October 2016, China replaced its approval regime for foreign investments with a filing regime, except where such investments fall within the Negative List. Approval vs. Filing - Since China first...more

China Plans to Further Open Domestic Private Securities Investment Fund Management Business to Foreign-Owned Manager

by Morrison & Foerster LLP on

On June 30, 2016, the Asset Management Association of China (“AMAC”) released the Q&A Regarding Registration and Filing of Private Funds (No. 10) (“Q&A No. 10”), which confirmed that both wholly foreign-owned and...more

Implementation of Policy Allowing Complete Foreign Ownership in E-Commerce Operations Nationwide in China

The Ministry of Industry and Information Technology Issues the First Value-Added Telecom Services License to an E-Commerce Wholly Foreign Owned Enterprise. Background - Historically, foreign investors were...more

One-Two Punch for Transparency: Beneficial Owners Outed

In an apparent effort to create the impression of strong U.S. policy response in the wake of the Panama Papers, the U.S. Department of the Treasury (Treasury) announced three initiatives to promote greater transparency and...more

Proposed Disregarded Entity Regulations: Potential Implications for Charities

On May 10, 2016, the Internal Revenue Service (“IRS”) published proposed regulations that would impose additional reporting and record-keeping requirements on domestic “disregarded entities” that are wholly owned (directly or...more

Panama Papers Fallout: A Push for Transparency and Regulatory Reform - Sanctions Also Levied Against Several Panama-Based...

by Holland & Knight LLP on

In the wake of the "Panama Papers" – the unprecedented leak of 11.5 million files from a Panamanian law firm that revealed thousands of names and addresses linked to offshore companies – the White House has announced several...more

Proposed Regulations on Foreign-Owned U.S. Disregarded Entities

On May 10, 2016 the Internal Revenue Service (the “IRS”) published proposed regulations that, if finalized, will treat a domestic disregarded entity wholly owned (directly or indirectly) by a foreign person as a corporation...more

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