The economic substance regime has now been in place for four years. As such, there have now been three cycles of annual economic substance declaration (“Declaration”) filings made with the Registrar of Companies by entities in scope of the economic substance requirements. The information collected...
The Supreme Court for Bermuda: In the matter of US Holdings Ltd [2023] SC (Bda) 13 Civ, confirmed that there is nothing inherently abusive in presenting a winding up petition and applying for the appointment of joint provisional liquidators (JPLs) with full powers (as opposed...
On 24 March 2023, the Court of Appeal issued its first ruling regarding the Public Access to Information Act, 2010 (“PATI”) and the function of the Information Commissioner, who is charged with administering that legislation. The situation, giving rise to the appeal, arose from a request...
MJM Limited's property team is a proud featured partner of Rego Sotheby's International Realty publication: Island Life Magazine, a guide to relocating and living in Bermuda (pages 28-29).Our property experts Denis de Frias, Hil de Frias, Nathan Samuels and Stephanie Matthews provide full service legal solutions in support of purchasing your dream home...
Whilst lawyers and accountants swiftly took to their spreadsheets to re-calculate various fees and stamp duties following a number of increases announced with this year’s budget, the real estate community – both agents and legal practitioners, welcomed a positive amendment to the Economic Investment Certificate...
Faultless divorce, as explained by MJM’s Senior Associate Nicole Cavanagh in our December 2022 publication, has found its way to our shores. On 14th March 2023, the Minister of Legal Affairs and Constitutional Reform brought into effect the Matrimonial Causes (Faultless Divorce) Amendment Act 2022 and...
The Registrar of Companies has issued notice that with effect from 30 January 2023, the Economic Substance Guidance Notes (the “Guidance Notes”) have been revised to implement guidance issued by the OECD Forum on Harmful Tax Practices in relation to entities making a claim to...
Introduction The 2023/2024 Budget statement was delivered by the Bermuda Premier and Minister of Finance, The Hon. E. David Burt, JP, MP, in the House of Assembly on Friday 17 February 2023. According to the Premier, also speaking at the Chamber of Commerce’s annual Budget Breakfast event...