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  • FINANCIAL LICENSE SVF IN HONG KONG

    FINANCIAL LICENSE SVF IN HONG KONG

    Published: 31 May 2018

    If your company is willing to provide payment services in Asia, including providing services to Hong Kong citizens, you need to obtain a financial license in Hong Kong or a Stored Value Facility License. However, be prepared to the fact, that conditions for obtaining such a license will be sufficiently stringent. PERSONAL The management of a licensed company in Hong Kong, including the execu...

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  • US-China trade war - boon or bane for India?

    US-China trade war - boon or bane for India?

    Published: 30 May 2018

    India has a great shot to claim the top spot amid the fastest growing major economies for this year. However, India’s prospects of claiming top spot may be daunted by the ongoing trade wars – particularly between the United States and China. The recent turmoil of the imports tariff amid the United States and China raises grave concerns about the possibility of full-fledged global trade war. Econ...

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  • Bankers want RBI to go slow on NPAs

    Bankers want RBI to go slow on NPAs

    Published: 29 May 2018

    On one hand, there is pressure from all quarters to resolve the acute NPA crisis facing Indian banking sector and the Reserve Bank of India (RBI) is working overtime instructing banks to come up with early detection of such cases and expeditious resolution. On the other hand, members of all India Bank Officers Confederation (AIBOC) have asked RBI to roll back its recent notification in relation ...

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  • Results of corporate crackdown

    Results of corporate crackdown

    Published: 28 May 2018

    As it is widely known fact that in a major crackdown on the corporate sector – subject to the provisions of the Companies Act, 2013, the central government had de-registered 226,000 lakh companies from the registrar of companies as a consequence all de-registered companies end up defunct companies and more than 3 lakh directors of these companies were disqualified to act as directors. According ...

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  • GRP Rainer Rechtsanwälte – Assessment of a Berliner Testament

    GRP Rainer Rechtsanwälte – Assessment of a Berliner Testament

    Published: 28 May 2018

    Spouses frequently draft a Berliner Testament, literally a “Berlin will”, by mutually appointed each other as sole heirs. Before doing so, it ought to be examined whether a Berliner Testament is the most appropriate form. There are a number of advantages to a Berliner Testament for spouses. They mutually appoint each other as sole heirs and generally their children as final heirs. Should one of ...

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  • Work at customer site under the Intra-Corporate Transferee Directive

    Work at customer site under the Intra-Corporate Transferee Directive

    Published: 28 May 2018

    One of the frequently asked questions is whether a third-country national who has been admitted to the territory of a Member State in the framework of an intra-corporate transfer, may work on customer site. The question is often raised in the context of companies whose controlled branches or subsidiaries, do not have a genuine economic activity in the Member State of establishment. The concep...

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  • SEBI tightening up share transfer, dividend process

    SEBI tightening up share transfer, dividend process

    Published: 26 May 2018

    Recently, Securities & Exchange Board of India (‘SEBI’) has issued detailed guidelines in relation to transfer of securities and payment of dividends. The objective of the guidelines is to streamline and reinforce certain procedures related to transfer of securities/payment of dividends by the registrar and share transfer agents and handling and maintenance of records. The guidelines seek ...

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  • SEBI to prescribe stricter norms for professionals

    SEBI to prescribe stricter norms for professionals

    Published: 25 May 2018

    It is common knowledge that Chartered Accountants, Company Secretaries, Cost Accountants and Valuers play quite a vital role in authentication and substantiation of legal and financial records of companies as well as alerting and exposing any fraudulent acts or mismanagement of funds therein. The reports (covering, inter alia, legal and financial aspects of any company) issued by such Profession...

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