Event 14 Oct. 2022
Curtis Provides Capacity Training to the Government of Uganda
Event 21 Sep. 2022
Kalidou Gadio Speaks at AIEN 2022 International Energy Summit
News 15 May. 2023
Curtis represents e-commerce retailer in its fight to recover monies withheld by PayPal, the global payment giant
News 16 Dec. 2022
Curtis Trade Team is top ranked in Chambers Asia-Pacific 2023
Event 08 May. 2023
Partner Irene Petrelli to Participate in ICC YAAF Event
News 02 May. 2023
Curtis Italy with DeA Capital in the Acquisition of Magic S.r.l
Event 23 May. 2023
Partners Luciana Ricart and Fernando Tupa Will Teach a Workshop on Hearings in Investment Arbitration for Arbanza School of Arbitration’s Online Program
Publications 23 Feb. 2023
Fernando Tupa Publishes Book on Forum-Specific Consent to International Arbitration in Investment Agreements
Event 03 May. 2023
Dr. Borzu Sabahi to Speak at ICSID-ADGM Joint Conference: Investment Protection and Armed Conflict
Event 19 Mar. 2023
Sebastiano Nessi speaks at Bahrain Business and Legal Landscape Conference
Event 01 Jun. 2023
Curtis Environmental Chair Charles Howland to Moderate Panel Discussion on Latest Developments in Environmental Due Diligence at ABA Masterclass on Environmental Transactions
News 25 May. 2023
Curtis Files SCOTUS Amicus Brief for Distinguished Law Professors in First Amendment Retaliatory Arrest Case
News 06 Mar. 2023
Russia Sanctions at the First Anniversary: An Overview of Current Sanctions in the US, UK, and EU and How Global Companies Can Navigate Evolving and Conflicting Sanctions Regimes
Client Alert 30 Aug. 2022
The EU Adopts the “Maintenance and Alignment” Sanctions Package
Client Alert 24 Jun. 2021
Update on Virtual Notarization (Executive Order 202.7) During the COVID-19 (Coronavirus) Pandemic (Updated: June 24, 2021) — U.S. Insight
Update on Virtual Witnessing (New York Executive Order 202.14) During The COVID-19 (Coronavirus) Pandemic (Updated: June 24, 2021) — U.S. Insight
Client Alert 04 Jan. 2021
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In an effort to combat transactions or activities conducted through corporate structures designed to evade detection across various jurisdictions, on December 11, 2020, Congress passed the Corporate Transparency Act (the “Act”) as part of the National Defense Authorization Act for Fiscal Year 2021 (H.R. 6395 or the “Bill”). While the President vetoed the Bill, the House and the Senate have both voted to override the veto. The Act requires “reporting companies” to report their beneficial ownership to FinCEN.
The Act generally requires corporations, limited liabilities companies, or other entities (1) formed under the laws of a State in the United States or (2) formed under the laws of a foreign country that are registered to do business in a State in the United States to report the name, business or residential address and identifying number from an acceptable identifying source, of their beneficial owners as well as individuals registering the entity. For these purposes, beneficial owners include individuals who, directly or indirectly, own or control not less than 25 percent of the ownership interests of the entity or exercise substantial control over the entity. Beneficial owners generally do not include minors, individuals acting as agents, employees, or those whose only interest in the entity is through a right of inheritance.
Importantly, there are numerous and various significant exclusions from the definition of a “reporting company” including, but not limited to, the following:
Additionally, pooled investment vehicles operated or advised by registered investment advisers that are formed under the laws of a foreign country are required to report information of any individual who exercises substantial control over such pooled investment entity.
For entities formed after the effective date of the Act, the information has to be submitted to FinCEN at the time of formation (registration). For entities formed prior to the effective date, the information must be submitted within two years of such effective date. In addition, any changes of beneficial ownership are required to be submitted within one year of such change.
Please contact the individuals linked to this alert if you have any questions about the application of these rules.
Attorney advertising. The material contained in this Client Alert is only a general review of the subjects covered and does not constitute legal advice. No legal or business decision should be based on its contents.
Trusts and Estates
Marco A. Blanco
Olga R. Beloded
Robert W. Sheehan
+1 212 696 6000
Article 24 May. 2023
Elisa Botero, Belén Ibañez and Sara Dangón Publish Article in Law360 on the U.N General Assembly’s Request to the ICJ for an Advisory Opinion on State Obligations on Climate Change