Legal

UPDATE Benchmark Rate Transition

With only a few months to go until December 31, 2021, when the availability of the existing interest rate benchmarks (the so-called Interbank Offered Rates (IBOR)) such as EURIBOR and LIBOR expires, it is now really time to actively prepare for the transition to the use of alternative interest rate benchmarks.

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Investments in real estate and the Dutch Financial Supervision Act

For many years real estate has been an important asset class for investors. We regularly approached advise and assist clients with the (financial) structuring of investments in real estate. Tax is often leading in processes like this and the influence of the Dutch Financial Supervision Act (Wet op het financieel toezicht (FSA)) and the regulations promulgated thereunder on the structuring process are often underexposed or even forgotten.

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SFDR applicable to AIFM 'light' funds

The European Commission has confirmed that fund managers whom are registered managers with the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, "AFM") on the basis of the so-called 'light regime' of Section 2:66a of the Dutch Financial Supervision Act (Wet op het financieel toezicht, "FSA") must also comply with the requirements of the Sustainable Finance Disclosure Regulation ("SFDR").

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Draft bill on transparency of civil society organizations: foundations and associations must publish donations and financial data

On December 21, 2018, the Minister for Legal Protection published the draft bill on the Civil Society Organizations Transparency Act. The proposal provides for, on the one hand, insight into cash flows to civil society organizations by publishing information about donors who donate or make gifts of EUR 15,000 or more per year and, on the other hand, the obligation for foundations to disclose certain financial information.

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Bill on the Modernization of Partnerships: third time lucky?

The consultation document on the bill on the Modernization of Partnerships (‘Bill') was published on February 21, 2019. The current legislation on partnerships dates from the 19th century and, according to the government, no longer meet the needs of today’s users. 

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Bill on the introduction of a UBO register

Legal persons and other legal entities will soon be obliged to register their ultimate beneficial owners. On April 4, 2019 the bill ‘Implementation registration of ultimate beneficial owners of companies and other legal entities’ (‘the bill’) was presented to the Lower House. 

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Bill on a Central Register of Shareholders

For the purposes of introducing a central register of shareholders, the bill on the Central Register of Shareholders Act (“the bill”) was presented to the Lower House on January 19, 2017. 

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Bill on implementation of UBO register presented for public consultation

On March 31, 2017 the draft bill on the Registration of Ultimate Beneficial Owners Implementation Act (hereinafter: the bill) was presented for public consultation. 

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Privacy and family businesses

An optimised structure for the assets of your family business can provide the necessary privacy from the outside world.

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