Our News and Articles
Here you can find our latest news and article. We regularly publish brochures and updates about legal, corporate and tax matters. Our regular publications cover the latest trends on tax and legal information keeping our clients fully updated.
As you may already know, Limited Partnerships (LPs) are not required to file their financial statements with the UK authorities. This does not mean they are not required to prepare them or not keep records. LPs are required to prepare financial statements and keep records for the following reasons:
Important Changes in Belize Legislation
Please be informed that important amendments were made to the International Business Companies Act Chapter 270, affecting the fees of Belize Companies.
More specifically, and as per Statutory Instrument No. 11 of 2016 made by the Minister responsible of Belize International Business Companies, the license fee prescribed in section 114 of the Act - the Annual
Government Renewal Fee for Belize IBC that do not exceed $50,000 share capital – will have an increase of US$100.
Due to this recent amendment, our schedule of fees will be amended, to reflect the new fees.
Other services will be subject to increases, as well. An updated price list, will be provided to you upon finalisation.
It is important to take into account that these changes shall come into force on the 1st of April 2016, therefore, it is highly recommended to proceed with the settlement of all renewal invoices before the 25th day of March 2016, to avoid the extra amount of USD100 until January 2017.
We recommend you take the necessary actions to settle the license fees in due course, and take advantage of the time limit provided.
Should you need further assistance and/or advice, please do not hesitate to contact us.
From the Management of
MILS CORPORATION LIMITED
The Premier's Office of the British Virgin Islands has released an important announcement reaffirming its intentions to proceed to necessary legislative changes regarding beneficial ownership information maintenance.
Despite the fact that changes on legislation regarding registered agents holding information on beneficial ownership, and additionally, the creation of a private registry to record Directors’ information have neither been officially approved nor announced, it is almost certain that they will go through and take effect from the first day of the coming year.
• Disclosure facility closes 31 December 2015
• Probably last chance to close UK tax matters on a favourable basis
• Increased exchange of information from 2016
• Review all non-UK assets/structures to check no accidental non-disclosure
We would like to inform you that a Bill related to the subject matter received a Royal Assent on 26 March 2015, which formulates very important changes to the Companies Act 2006 associated to UK Private Limited companies, and LLPs. A summarised list of the provisions made, is indicated below: