Included are articles from a total of 25 jurisdictions on current legal affairs around the globe, covering Western Europe, Africa, South America, Central and Eastern Europe and Asia-Pacific. Certain countries implemented similar rules at the same time, such as Belgium, Luxembourg, Mexico; Serbia and Ivory Coast about beneficial owner registers. The ultimate beneficial owners register rules actually apply to most EU countries already since the EU Directives of 20 May 2015 and 30 May 2018. Such directives deal with the prevention of the use of the financial system for purposes of money laundering or terrorist financing and directed the creation in each EU country of a public register in which the identity of ultimate beneficial owners has to be stored and be generally accessible to the members of the public. Transparency of the market place is now key and some non-EU countries, such as Mexico, Serbia and Ivory Coast are implementing similar rules.
Simultaneously with those enhanced transparency rules, China and Russia try to make foreign investments easier by allowing re-domiciliation of foreign companies to Russia and promoting as well as protecting such foreign investments in China, while France and Australia’s foreign investment rules are becoming more complex and require government prior approval in certain sectors. This is a current trend in many markets to welcome and protect foreign investors, who are sometimes key to national economies, but at the same time protecting certain national sectors from foreign investments.
In the Corporate and Commercial Law newsletter, you will also find a number of new laws and market practices which are important to your businesses, such as share option schemes in Denmark, crowdfunding in Argentina, abolishment of minimum share capital in Finland, listing of dual-class shares in Singapore and many other noteworthy matters.