Specialized structures in selected jurisdictions are gaining more ground as business transactions become more complex and regulated.
Onshore and midshore jurisdictions offer our clients a wide variety of benefits for asset holding, estate planning, trading and many other services. They comply with annual reporting and payment of taxes at different rates and frequencies, depending on the jurisdiction and are ideal in the use of double tax treaties. We can assist the client in the incorporation of onshore and midshore companies in jurisdictions such as the Netherlands, New Zealand and Malta, among others. Established in 1977, the Mossack Fonseca Group is a leading global company which provides comprehensive legal, trust and accounting services. With over 500 staff members across every continent, the Mossack Fonseca Group provides excellent services based on more than 35 years of experience. As part of its added value, the Group offers personal advice and a world-class online experience through a virtual Client Portal which is available 24 hours a day. Our web-based Client Information Portal application allows clients to reserve companies online, verify the status of companies, and pay invoices, in addition to other transactions.
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Mossack Fonseca & Co. wishes to express its position with regard to inaccurate information contained in certain print and online publications. Our firm has been mistakenly connected with matters in which we have no involvement whatsoever.
We clarify that: • Mossack Fonseca is a leading international company with a presence in over 40 countries and with close to 40 years of history in the legal industry. We operate through our own and representative offices. All our offices maintain the highest due diligence standards that comply with all international laws and regulations. • Mossack Fonseca Brazil is an independent entity of Mossack Fonseca & Co. Panama. As an entity, it represents our brand and sells international companies that our group incorporates through the different licenses that we hold in several jurisdictions. That said, our Brazil office operates with its own administration, resources, and staff that are independent of our group. • Information has been required of our Brazil representative office as part of an investigation that the public prosecutor is carrying out in certain cases currently being processed in that country. Our Brazil office has expressed through its legal representatives that it is ready and willing to cooperate with all authorities that request information through the pertinent channels. • The request for acquisition of the company in question was received by an independent intermediary professional, Ademir Auada, who in turn services final clients. • At the time the request for said company incorporation was received (2005), the respective due diligence verification was carried out in compliance with the required standards. As a result of such review, no adverse outcomes or any link whatsoever with politically exposed persons were found. • Mossack Fonseca & Co., like similar companies, renders registered agent services in the various jurisdictions where it incorporates companies upon request by clients. Such service does not represent any business link with the companies so formed, nor does it imply any administrative or fund raising power from clients. By virtue of the provisions set forth in the laws of such jurisdictions, registered agents incur no liability whatsoever for any business activities of the companies that they form. • We have a department that conducts thorough due diligence programs to verify the legitimacy of each of our clients in accordance with the legal standards in force. • The vast majority of our clients are regulated entities, such as premier banks, attorneys, accountants, other law firms, trust companies, etc.―all of them well-known and reputable business companies and firms. • We have not rendered in the past and do not currently render advisory or intermediation services of any kind for the purchase, loan or financing of any real property―nor do we render real property advice in any part of the world, except in regard to real property located within the Republic of Panama. • We are always willing to cooperate with all authorities that require information through legally established channels and in compliance with the requirements of the respective legislation. As to the other points mentioned in the media, we would further clarify as follows: • Link to companies because of their physical addresses: By law, all Panamanian corporations must have a resident agent that must be an attorney at law or a law firm. All companies incorporated by such resident agents have the physical address of such resident agent’s office. • In Brazil, it is completely legal to incorporate or use offshore companies for any transaction, whether regarding real property or other legal purposes, provided that they comply with all Brazilian laws. We shall continue on our nearly 40-year path of servicing the international business, banking, legal and financial communities and we shall maintain our resolve to become ever more efficient and useful to the business world. We offer these services optimally fulfilling the conditions and times established in contracts Escrow. We follow comprehensive risk management policies, safely and accurately providing solid and tailored solutions for our clients.
Escrow services can help facilitate payments related to property transactions, mergers and acquisitions and access to capital, among other functions. Established in 1977, the Mossack Fonseca Group is a leading global company which provides comprehensive legal, trust and accounting services. Our service and research-oriented professionals specialize in trust services, wealth management, international business structures, and commercial law, among other areas. Our product and service portfolio is constantly updated and renewed, enabling the Group to find the appropriate solution for your business. We offer research, advice and services for the following jurisdictions: Belize, The Netherlands, Costa Rica, United Kingdom, Malta, Hong Kong, Cyprus, British Virgin Islands, Bahamas, Panama, British Anguilla, Seychelles, Samoa, Nevada, and Wyoming (USA). Mossack Fonseca - On March 14, 2016, the Organization for Economic Cooperation and Development (OECD) will host a conference on the balance between investor protection and governments’ right to regulate. The conference will take place at the OECD Conference Centre in Paris, France.
Many recent investment treaty developments have been driven by the quest for a balance between investor protection and governments’ right to regulate. Efforts to achieve balance have inspired innovation in treaty policy, led some countries to exit investment treaties perceived as out-dated, and informed treaty policy and practice worldwide. The conference will explore: • How governments are balancing investor protection and the right to regulate • The search for improved balance through new institutions or improved rules for dispute settlement including the new Investment Court System developed by the European Union • A case study on addressing the balance through substantive law―in particular through approaches to the fair and equitable treatment (FET) provision. • How the OECD, working with other international organizations, can support constructive improvement of governments’ investment treaty policies in this regard Governments have been evaluating key aspects of investment treaties at regular bi-annual meetings of the OECD-hosted Freedom of Investment Roundtable since 2011. This conference will gather senior policy makers and investment treaty negotiators from 54 advanced and emerging economies for exchanges with leading representatives of business, civil society and academia, as well as international organizations. Why join the Mossack Fonseca Group
Our worldwide offices embrace and encourage an international community of professionals. Our daily work with clients from more than 105 countries allows us to understand the meaning of a multicultural workspace. Reputation We have a reputation of efficiency and great service that we pride ourselves on. We are driven to be the best in a job that must be diligently executed every day. A good reputation is not given; it is earned in the work place every day. Empowerment The world is not short of good ideas, but of people who are willing to make them real. The opportunity to create and lead has shown great success amongst our staff. Not only do we feel the desire to take leadership, we give them the tools and liberty to do so. Challenging We actively seek individuals that want to add value and succeed. Our group favors aspiring leaders who want to work with the very best in a positive atmosphere where healthy competition is promoted. If you are interested in becoming part of the team please submit your curriculum below. Thank you for your interest in Mossack Fonseca. Mossack Fonseca - In response to the European Commission’s (EC) new anti-tax avoidance package that addresses base erosion and profit shifting (BEPS), Malta’s Finance Minister, Edward Scicluna, insists that his country will not cede tax sovereignty to the EC. Malta will resist any attempt by the EC to reduce sovereignty over its own fiscal affairs, he pledged.
BEPS refers to tax planning strategies that exploit gaps and mismatches in tax rules to artificially shift profits to low or no-tax locations where there is little or no economic activity, resulting in little or no overall corporate tax being paid. In rebuttal to the EC’s anti-tax avoidance package, Minister Scicluna made the following points: • Malta is not ready to accept any form of tax harmonisation or any changes to their tax system. He considers this a “red line” that no one will be allowed to cross. • Malta condemns tax evasion, and is therefore ready to cooperate to reach an agreement that will enhance tax transparency and improve the exchange of tax-related information between EU member states. • Malta’s relatively low taxation rates in and of themselves shouldn’t be considered an abusive, harmful or unjust practice―there is nothing wrong with better tax planning―which mustn’t be confused with tax evasion. • Malta won’t be alone in its fight against proposed tax harmonisation―other European countries, including the United Kingdom, share a similar stance. The Minister went on to say that he has already used the threat of a veto to force the EC to modify certain clauses within the BEPS proposal, including a phrase that proposes “a common but flexible approach”. Mossack Fonseca - On January 20, 2016, the Swiss Federal Council approved the signing of the Multilateral Competent Authority Agreement on the Exchange of Country-by-Country Reports.
Switzerland is to join several other states and territories who will sign the multilateral agreement in Paris on January 27, 2016, reports Taxnews.com. The multilateral agreement sets out the conditions under which tax authorities will automatically exchange country-by-country (CbC) reports on multinationals in their respective territories. It is based on the Convention on Mutual Administrative Assistance in Tax Matters, which was approved by the Federal Assembly in December 2015. The Ministry of Finance said: "The aim of country-by-country reports is to give an overview of multinationals' global allocation of income and taxes paid, together with other indicators on the location of economic activity within the group. Country-by-country reports will be exchanged automatically between the tax authorities of the countries where a group entity is present." "The signing of the multilateral agreement leaves it to Switzerland to choose the countries with which it wishes to automatically exchange country-by-country reports. Switzerland will determine the countries in question at a later date." The Federal Council is to launch a consultation on the multilateral agreement and the implementing act in the first half of 2016. They will go through the standard approval process before entering into force. A 15 January 2016 press release from the Mauritius Revenue Authority (MRA) announced the delay of the Organization for Economic Cooperation and Development’s (OECD) Common Reporting Standard (CRS) exchanges of information for tax purposes until September 2018. Originally, the exchanges were slated to begin in September 2017.
The MRA also confirmed that the requirement for Mauritian financial institutions to apply due diligence procedures to record the tax residence of clients opening new accounts will take effect from 1 January 2017. The CRS, unlike FATCA, requires information based upon tax residency, not citizenship. Established in 1977, the Mossack Fonseca Group is a leading global company which provides comprehensive legal, trust and accounting services. With over 500 staff members across every continent, the Mossack Fonseca Group provides excellent services based on more than 35 years of experience. As part of its added value, the Group offers personal advice and a world-class online experience through a virtual Client Portal which is available 24 hours a day. Our web-based Client Information Portal application allows clients to reserve companies online, verify the status of companies, and pay invoices, in addition to other transactions. Our service and research-oriented professionals specialize in trust services, wealth management, international business structures, and commercial law, among other areas. Beach-side apartments in Brazil may have been used as bribes and to launder money for members of the ruling Workers’ Party, police and prosecutors said on Wednesday after ordering six arrests and 15 search warrants.
In the latest phase of Brazil’s largest-ever corruption probe, investigators are looking into whether construction firm OAS SA used apartments in the Solaris complex in Guaruja as bribes in a corruption scheme involving state-run oil firm Petrobras. Dozens of executives and politicians have been arrested or are under investigation on suspicion of overcharging Petroleo Brasileiro SA, as the company is formally known, and using part of the proceeds to bribe members of President Dilma Rousseff’s ruling coalition. The apartments were held in the name of front companies, such as Murray Holdings LLC that was registered by Panama-based Mossack Group, prosecutors said at a news conference, adding Mossack has previously helped hide criminal activity offshore. “There is real evidence of money laundering. We are looking principally at this time at the Vaccari family,” said prosecutor Carlos Fernando dos Santos Lima, referring to Joao Vaccari, the jailed former treasurer of the Workers’ Party. Vaccari has been convicted and sentenced to just over 15 years in jail. OAS declined to comment. Mossack Fonseca, a law firm, said in a statement it had been "unjustly and erroneously included in matters with which we have no involvement at all." The firm said it was not under investigation and had not been contacted by police or the judiciary. Local paper O Globo said former President Luiz Inacio Lula da Silva also had an apartment held under another name in the complex. Lima did not confirm this. "If there was an apartment that was in his name ... or someone in his family, we will investigate it like any other," Lima said. Police said all the apartments in the complex were under investigation. A statement on the website for Lula's office said the former president repudiates attempts to link his name with the corruption scandal. The statement reiterated that Lula's family bought an option for an apartment in the complex but later decided not to go through with the purchase. Lula has previously threatened to prosecute journalists for smearing his name in connection with the Petrobras case. Neither Lula nor Rousseff is under investigation, though Rousseff's approval rating has suffered from the accusations against her political party. Police only gave the name of one person that had been arrested, publicist Nelci Warken. |
About USThe Mossack Fonseca Group is a leading international corporation which provides comprehensive legal, trust, technological and accounting services. With over 500 staff members in all continents, Mossack Fonseca provides personalized advice based on more than 36 years of experience in the market. They also offer world-class service through their exclusive online services which are available 24 hours a day. Archives
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