BVI annual returns - frequently asked questions 1. What information needs to be included in the annual return? The annual return needs to provide a basic balance sheet and income (profit and loss) statement. The form of annual return is prescribed by statute, a copy of which can be found here. 2. When does the first annual return need to be filed? A Company must file its first annual return within 9 months of its fiscal year end ...
Following the conflict in Ukraine, the UK Government opened various visa routes and concessions for those affected to come to the UK. These routes granted Ukrainians three years’ leave to remain in the UK and granted a right to work ...
Minimum Requirements for Employment Contracts All individuals set to be employed are required to have a written employment contract, as mandated by the Working Environment Act, Section 14-5. This requirement applies regardless of whether the employment is for a permanent or temporary position. As of July 1, 2024, new content requirements for employment contracts will be introduced for new employment relationships. These requirements are in addition to the existing minimum requirements ...
Carey Olsen and Alter Domus advise Gyrus Capital on €310 million fund Fund II consists of the Principal Fund and an open-ended co-investment vehicle, allowing Gyrus to make larger investments. With its close, the total number of funds raised since the firm was established in November 2018 exceeds €750 million. Fund II will be a continuation of Fund I, generating returns from investments into businesses operating in the healthcare and sustainability sectors ...
U.S. Citizenship and Immigration Services (USCIS) released guidance on the Fiscal Year (FY) 2025 H-1B lottery process. The registration system will be open from noon Eastern, March 6, 2024 until noon Eastern, March 22, 2024. The application fee will remain $10 for each case entered into the system ...
Dear Ladies and Gentlemen, Special economic measures introduced in 2022 due to “unfriendly” actions of certain foreign states against the Russian Federation have been subject to development and clarification during 2023. We have already highlighted some key aspects of 2023 countersanctions regulation in another newsletter, and here we would like to pay more attention to the corporate and some other regulatory issues. 1 ...
Flexible working has continued in many workforces since the pandemic. The most common pattern is a hybrid one where employees split their time between the office and home. However some employees are now looking to work remotely on a permanent basis. This is what happened in Wilson v Financial Conduct Authority 2302739/2023 ...
On 24 January 2024, to deepen the opening-up of the bond market and further facilitate the liquidity management of overseas institutional investors, the People's Bank of China ("PBOC") and the State Administration of Foreign Exchange published theAnnouncement on Further Supporting Overseas Institutional Investors Engaging in Bond Repurchase Business in the China Interbank Bond Market(draft for comments) (the "Announcement") (《关于进一步支持境外机构投资者开展银行间债券市场债券回购业务的公告(征求意见稿)》) to solicit public opinion ...
Obtaining a medical report on an employee can be a sensitive and complex process. We set out our top tips for employers, including the key matters to include in the letter of instruction and the legal considerations they need to navigate. When to seek a medical report There are several situations where an employer might seek a medical report on an employee or prospective employee ...
Amazon France Logistics has been fined €32m in France for being “grossly negligent” about European data protection law when it comes to monitoring its workers. How can companies do the right thing by workers and by regulators? Employers have increasingly sophisticated tools to help them monitor their workers. Amazon’s substantial recent fine from French data protection regulators shows that they don’t always get it right ...
One of the main features of the cryptocurrency market is how unpredictable it is - the value of cryptocurrencies can rise and fall sharply, depending on how investors feel about them or the social media hype around them at the time ...
Unexpectedly, Home Office guidance Employer’s guide to right to work checks has been updated to expand on the required steps for employers who are taking on an individual to carry out ‘supplementary employment’. It now helpfully gives clarification on what steps should be undertaken to ensure that right to work checks for this category of employees are done correctly ...
From Dominic Cummings to Nicola Sturgeon, 2023 was a noisy, headline-grabbing year for the UK’s public inquiry into the Covid-19 pandemic. What’s coming in 2024? And what does it mean for businesses? In terms of media exposure, the first full year in the life of the UK’s official Covid-19 Inquiry was a resounding success ...
Recent surveys have revealed the shocking statistic that 90% of breastfeeding mothers are forced to use a toilet or are not provided with a suitable space to express their breastmilk at work. We look at what employers can do to rectify this issue in order to offer the appropriate level of support to new mums. Returning to work following maternity leave can be a daunting prospect, particularly if this is the first time that an employee has been apart from their baby for long periods of time ...
Expanded employee definition (Section 1-8 of the Working Environment Act) The Norwegian Working Environment Act (WEA) has introduced a new definition of the term «employee» in Section 1-8: «In this Act, an employee means anyone who performs work in the service of and subordinate to another ...
Stay informed with the latest news ****on labour law****. ****Stay updated on the upcoming changes in labour legislation**** set to take effect in February-March 2024. These changes are crucial for accurate payroll calculation, keeping employment contracts up to date, and aligning HR management processes ...
Assessing lender risk in fund finance markets 2024 (GLI chapter) Contents Risk analysis in an evolving market Complex Fund structures Typical structures in our jurisdictions Feeder vehicles Legal perspective Market risk Competition in the market Concentration risk Liquidity risk ESG risks Conclusion Acknowledgment Risk analysis in an evolving market Despite being a relatively long-standing lending product, there have been limited public payment defaults by f
Carey Olsen advises Epiris on launch of £1 billion buyout fund Epiris invests in opportunities to transform businesses in partnership with exceptional management teams. The firm targets UK and international businesses with an enterprise value of between £75 million and £500 million. Fund III has already deployed more than 20% of its total capital across four investments: Delinian, Lonestar, Pure Cremation and GSF ...
The Supreme Court has considered the Westwalk case and ruled that foreign companies can be legally recognized as bankrupt if there is a "close connection" with Russia. Bankruptcy of foreigners was first commenced in 2016, but for a long was applied only to individuals1. The Arbitrazh Court of the Chelyabinsk Region opened Pandora's box in 2022 with respect to a company from the island of Nevis, which was only formally registered there ...
The transformational power of AI is set to redefine the modus operandi across various sectors, including healthcare. The life sciences sector in particular are already realising the benefits of AI. Their shared experiences offer other health organisations the opportunity to pre-empt some of the challenges associated with AI. The rapid and profound impacts emerging from AI advancements are truly staggering, leaving no room for delay ...
