Articles

By the end of 2018, over 50% of companies affected by the GDPR will not be in full compliance with its requirements. Taking effect in May 2018 the European Union General Data Protection Regulation will require global organizations to control processes and protect the personal data of

EU citizens on a much higher level than they do today.
The issue of data protection is closely correlated with e-commerce law. Combined they will regulate how retailers conduct business electronically cross-borders, how they approach target groups and handle data in order to provide products and services to consumers.

Many of our clients conduct their business through e-commerce, and thus, in this article we have chosen to focus on the latest changes that are awaiting e-retailers. 

Read the full article.

With the introduction of the OECD / G20 Common Reporting Standard (CRS), the Automatic Exchange of Financial Information in tax matters (AEoI) has raised a strong concern about the protection of privacy, that were already approached with the US Foreign Account Tax Compliant Act (FATCA).

Blaise Krähenbuhl, a member of the ABL Young Lawyers Group, has written his Master Thesis on this subject, with the aim to provide a comprehensive overview of the main applicable international data protection legal instruments and on how it would apply to financial information concerning individuals, notably through the relevant case law, being understood that the same principles may apply to other forms of exchange of financial information for tax purposes, such as FATCA or the Exchange of Information on demand, with the necessary adjustments. 

Pratique in general parlance is the permission granted to a ship to have dealings with a port, after quarantine or on showing a clean bill of health. In the shipping industry, it is a certificate from the port-healthauthorities that the ship is without infectious diseases or plague on board and therefore, should be permitted to enter port and to allow people to board or disembark. Such permission is usually under the authority of medical/ health officers situated around the port of entry in apprehension of ships from other territories carrying contagious diseases on board among crew members or passengers.

However, if the ship is carrying any serious infectious illness on board or has arrived from a place where such illness is known to be widespread, then the ship may have quarantine restrictions imposed upon her and may not get the clean bill of health for entry to the port for carrying out intended operations.

Read the full article.

The ABL Young Lawyer’s Group has published its 6th Report on ‘Anti-Money Laundering Regulations”. The Report provides a brief overview of the key issues firms will need to be aware of in order to comply with the regulations in each country mentioned in this Report.

The ABL Young Lawyer’s Group has published its 5th Report on ‘Data Privacy”. The Report draws attention upon the distinctive trait of the Privacy legislation in each country mentioned in this Report.

Many growth companies are operated as C corporations, and frequently that's a sensible thing to do.

The familiar shareholder/board/management structure of a corporation can be more comfortable for the participants than the more amorphous and flexible LLC structure; the shareholders are not bothered with K-1s and pass-through tax outcomes (the absence of which is an essential requirement for some types of institutional investors); and, because its tax incidences do not flow through to its equity owners, the C corporation's financial details need not be disclosed to them to the same degree and with the same frequency as those of an LLC or S corporation.

However, there is a major drawback to C corporation ownership that sometimes is not discovered until it's too late to fix. Read the full article.

This article gives the answers to the most frequently asked questions in this regard. It includes a link to the full guide through the UAE Family Court Proceedings.

The very purpose of introducing Fast Track Regulation is to lower the burden on small companies from following the cumbersome procedure of Resolution Process as specified under the Insolvency and Bankruptcy Code for larger companies.

The regulation came in force on June 14, 2017 and applies to small companies, start-ups and to unlisted company with total assets, as reported in the financial statement of the immediately preceding financial year, not exceeding Rs.1 cr.

Now, is it really fast? Click here to read the full article.

Switzerland benefits from a stable and reliable economic situation due to its strategic position in the centre of Europe, proximity infrastructures, high skilled labour force, liberal labour law, competitive tax system and substantial investments in research and developments during the last decades.

Read our Doing Business in Switzerland Guide to find out about the most important legal considerations for a foreign individual or organisation wishing to establish business operations in Switzerland.


This publication was prepared by DGM Avocats, an independent ABL member with offices in Geneva. The firm provides a full range of legal services on behalf of both private clients and companies worldwide. DGM is associated with MD Services S.A., which provides accounting, administrative and management services to foreign and Swiss companies.


 

UK - The Common Reporting Standard (CRS) is a global standard for the automatic exchange of information between the tax authorities of participating countries. It has been designed to prevent individuals and entities using offshore structures to evade tax and has important implications for charities. Some charities, especially those that have a trust structure and receive the majority of their income from investments, must comply with the requirements of CRS.

This article provides an overview of when a charity is subject to CRS and, if so, its obligations.