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The Journal February 2018

Brexit & Immigration

Karma Hickman

On 23 June 2016, Britain voted in a referendum and decided to end their forty three year membership with the European Union. The primary issue of Brexit appears to be Immigration.

The primary question of law, whether or not the referendum result is legally binding on the government, is yet to be answered as the European Union Referendum Act 2015 contains no provisions as to its legal effect.

A New Obligation for Companies Registered in France: Declaration of Beneficial Owners

Laurent Auricoste

A new regulation applicable as of August 1, 2017 concerns all unlisted French companies.

The text requires all commercial companies, non-trading partnerships, and other entities to identify the "beneficial owners" by registration in a special register kept by the Commercial Court.
Luxembourg Cross Border Merger

Ann Bruggeman

Luxembourg benefits from a leading position as global domicile for investment structuring. The European Union merger directives (the UE Directives) transposed into its national law have facilitated to create this open market, and has definitely improved the merger procedures.

The purpose of this article will be to introduce you to the legal merger system in Luxembourg.

Is your Business prepared for the new General Data Protection Regulation (GDPR) due to come into effect on 25th May 2018?

Mandeep Johal

The EU General Data Protection Regulation becomes directly applicable in all EU member states without the need for local implementing legislation on May 25th, 2018.

It must be noted that GDPR applies to businesses which are:

  • Established in the EU, regardless of whether the processing takes place in EU;  
  • Not established in the EU but that offer goods or services to EU-based individuals (free or paid); or
  • Not established in the EU that monitor EU residents’ behaviour. 
UAE Offshore Companies: What are They and Why May Be of Your Choice

Maria Evangelou

“Offshore Company” is the term used for companies established under jurisdictions that allow them to operate anywhere other than in the specific jurisdiction they are regulated in.

Therefore, “Offshore” Companies, also known as International Business Companies (IBC), are considered as “overseas” entities both in the area they are formed and elsewhere – eternally offshore or overseas. This arrangement implies an entity operating in a zero-tax environment.

A New Step Toward a Single EU VAT Area

Stefano Lecchi

The EU VAT system probably represents one of the most important economic achievement in the long and troubled history of our continent. It represents an asset for each state member such as the fair ruler of the whole market.

Since the beginning, almost 50 years ago, the EU VAT system has greatly facilitated trade in the EU by removing obstacles that distorted competition and prevented the free movement of goods.