On 26 March 2015, the Small Business, Enterprise and Employment Act (the Act) received Royal Ascent.
The Act forms part of the UK government’s drive to encourage transparency in UK business, particularly relating to company ownership, and to combat unlawful activity, such as money laundering. The main provisions in the Act relate to company ownership, directorships and administration.
This article summarises the key changes and anticipated changes, as well as their implementation dates.
Company ownership: an end to bearer shares
Bearer shares are seen as controversial by the UK government because they allow for shareholder anonymity. From 26 May 2015, companies will no longer be able to issue bearer shares. Existing...
Vistra is pleased to announce the appointment of Barry Gowdy as Director of its London Office.
Barry joins Vistra from RBC Wealth Management, where he was responsible for the firm’s UK property trust clients.
Since starting his career in financial services, Barry has become a qualified Lawyer at the College of Law and gained an LLM in International Business Law at Exeter University. Barry is also a member of the Institute of Chartered Accountants (England and Wales) and the Chartered Institute of Taxation.
David Rudge, Managing Director of Vistra London commented: “We are extremely happy to welcome Barry Gowdy to our team in London. His breadth of knowledge and experience in developing trustee business in the UK will be an asset to...
Vistra Group Asia Golf Day 2015 took place at the Hong Kong Shek O Country Club on 18 September.
The bright and sunny weather greeted all golfers while they tee off after lunch. They all finished the spectacular scenic 18 holes in about four hours. Light canapés and drinks were served as they chilled out and relaxed in the historic clubhouse. The day was concluded with the award presentation ceremony.
Apart from the best playing team, prizes were also awarded for the longest drive and closest to the pin.
Vistra Group congratulates the winners and thanks all the golfers for their support.
The Companies (Amendment) Act 2014 was passed by the Singapore Parliament on 8 October 2014, introducing a wide range of changes to the Singapore Companies Act (the CA). The changes will be implemented in two phases: the first set of changes came into force on 1 July 2015; the second set is due to come into force in the first quarter of 2016.
Many of the provisions implemented earlier this year ease the administrative burden on private companies. This article summarises the main provisions and their effect.
Changes to company audits
‘Small’ companies are exempt from audit requirements
Under the amended CA, a company may be exempt from audit requirements if it qualifies as ‘small’. To do so, it must be a private company for the...
Hong Kong has promoted its vibrant start-up scene for several years and a growing number of entrepreneurs now choose Hong Kong to launch their ventures. From fund-raising platforms to co-working office space, the Special Administrative Region is giving entrepreneurs everything they need to start their businesses.
The government is also making Hong Kong more attractive for entrepreneurs. In its 2015 Policy Address, the government committed to increase the inflow of entrepreneurs from outside Hong Kong. Under the General Employment Policy, new immigration policies were passed to make it easier for entrepreneurs to live and work in Hong Kong.
The investment visa scheme is now referred to as ‘investment as entrepreneurs’ and permits...