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Private placement regulations in Switzerland

Introduction Switzerland is not a Member State of the EU and is thus not subject to the AIFMD and the respective rules. Switzerland has its own rules: (1) the Financial Services Act (“FinSA”, Finanzdienstleistungsgesetz); (2) the corresponding ordinance (“FinSO”, Finanzdienstleistungsverordnung); (3) the Collective Investment Scheme Act (“CISA”, Kollektivanlagegesetz); (4) the…

Vallen beleggings(studie)clubs onder de AIFM-richtlijn?

Of een (beheerder van een) beleggingsclub kwalificeert als (beheerder van een) alternatieve beleggingsinstelling (abi) en dus valt onder de AIFM-richtlijn dient per individueel geval te worden beoordeeld. Gezichtspunten die een rol kunnen spelen bij de aanname dat dit in een concreet geval niet het geval is zijn (bron AFM):

Vermijden: de nieuwe personenvennootschap als vervanger voor de maatschap en de vennootschap onder firma (VOF)

Er zijn in Nederland ongeveer 231.000 personenvennootschappen: de maatschap, de vennootschap onder firma (VOF) en de commanditaire vennootschap (CV). Vooral in het midden- en kleinbedrijf (MKB), in de agrarische sector en de dienstverlening wordt gebruik gemaakt van deze personenvennootschappen. Binnenkort worden deze rechtsvormen gewijzigd. Naar mijn mening moeten alle persoonsvennootschappen…

Transferring personal data from Europe to the United States

EU General Data Protection Regulation (GDPR) and Swiss Federal Data Protection Act (DPA) In the EU and in Switzerland, processing personal data is generally prohibited, unless it is expressly allowed by law, or the data subject has consented to the processing. While being one of the more well-known legal bases…

Resolve commercial disputes in the Middle East. Opt in to certainty at Dubai International Financial Centre Courts

The Dubai International Financial Centre (DIFC) is designed to be a financial free zone offering a unique, independent legal and regulatory framework in order to create an environment for growth, progress and economic development in the UAE and the wider region.

Lamborghini Latin America vs. Volkswagen Germany and Lamborghini Italy

Automóviles Lamborghini Latinoamérica S.A. de C.V. (Lamborghini Automobiles of Latin America Public Limited Company) is an authorized distributor and manufacturer of Lamborghini-branded vehicles and merchandise in Latin America and South America.

Memoranda of Understanding signed between the AIFC Court, International Arbitration Centre and the Law Society of England and Wales

On 4 March the AIFC Court and International Arbitration Centre (“IAC”) signed Memoranda of Understanding with the Law Society of England and Wales. The Law Society is a strategic partner of the AIFC Court and IAC in providing and developing the rule of law in their respective jurisdictions and internationally. 

The Rt. Hon. The Lord Woolf CH, Chief Justice of the AIFC Court, officially presented his book “A Vision of the AIFC Court”

On 9 September 2019, the Rt. Hon. The Lord Woolf CH, Chief Justice of the AIFC Court, officially presented his book “A Vision of the AIFC Court” at a special launch at the AIFC Court to the legal and business communities in Nur-Sultan, Kazakhstan. The book was edited by Mr.…

Nederlandse rechter erkent uitspraak Dubai International Arbitration Centre (DIAC)

Gerechtshof Amsterdam, 05-03-2019 / 200.219.215/01 en 200.219.267/01 Link naar origineel Inhoudsindicatie Verzoek tot erkenning en verlof tot tenuitvoerlegging van buitenlandse arbitrale vonnissen. Art. 6 EVRM. Verdrag van New York. Art. 1075 Rv. Instantie: Gerechtshof Amsterdam Uitspraakdatum: 2019-03-05 Publicatiedatum: 2019-03-11 Zaaknummer: 200.219.215/01 en 200.219.267/0 Vindplaatsen Rechtspraak.nl TvA 2019/39 NTHR 2019, afl.…

Model Clauses of the International Arbitration Centre

About the IAC The IAC provides an independent and expeditious alternative to court litigation and operates to the highest international standards to resolve civil and commercial disputes in the AIFC. It has its own panel of world leading arbitrators and mediators comprising global reputations for absolute independence, impartiality, integrity, unconditional…

Vrijstelling van toezicht op een beleggingsaanbod

Soms gelden er vrijstellingen en valt een beleggingsaanbod niet onder het toezicht van de AFM. Met deze informatie weet u binnen een minuut of er sprake is van een vrijstelling. Beleggen buiten toezicht (YouTube) Effecten, zoals aandelen en obligaties Als u op een van de onderstaande vragen met een ‘ja’…

The future of investment dispute settlement

The original article was published in Family Office Magazine and can be found here. Entrepreneurs engaging in international investments face several issues when they are accused of a breach of contract. When the investment agreement does not provide solid provisions for dispute settlement, endless legal discussions and expensive court cases…

DIFC Courts corporate video

The DIFC Courts are an independent English language common law judiciary, located in the United Arab Emirates (UAE) and based in the Dubai International Financial Centre (DIFC). This video briefly explains the work of the Courts, why leading international law firms in the region use their services and how their…

Intermediary commission percentages to raise money from investors

Investment banks and other consultants can plan and execute a fundraising campaign for startups and for companies in the growth phase. A reputable fundraising intermediary will likely speed up the process, reduce the legal risks, and negotiate a better deals. Most brokers will take a monthly retainer plus 5 percent…

How Chambers of Commerce Help Family Offices and Wealth Management Firms

A Chamber of Commerce has traditionally furthered the interests of businesses in a particular geography or market sector by way of representation, business services, and networking opportunities. Multilateral Chambers of Commerce can link the business environments of two or more countries, such as the Swiss Chamber of Commerce in The Netherlands. International…

Official opening of the Court of Astana International Financial Center (AIFC)

The official opening of the Court of Astana International Financial Center (AIFC) took place in Nur-Sultan. Since January last year, civil and commercial disputes have been solved in accordance with the best international practices and based on English law. The first case went to AIFC court in February of this…

The importance of the Dubai International Financial Centre Courts

In his important and interesting paper “The Story of the Dubai International Financial Centre Courts: A Retrospective“, Mr. Jayanth K. Krishnan addresses the role of the Dubai International Financial Centre Courts (DIFC) in an international legal environment. The DIFCs are part of the sovereign structure of the Emirate of Dubai,…

International Dispute Resolution – the advantages the Court of Arbitration of the European Chamber of Digital Commerce

The Court of Arbitration of the European Chamber of Digital Commerce plays a crucial role in today’s digital world. The appeal and quality of this independent arbitration institution are as valued today as ever. Fairness, even when there is a dispute, has always been this business tradition which continues to…

UNIDROIT Principles of International Commercial Contracts (UPICC)

The International Institute for the Unification of Private Law (UNIDROIT) is an independent intergovernmental Organisation with its seat in the Villa Aldobrandini in Rome. Its purpose is to study needs and methods for modernising, harmonising and co-ordinating private and in particular commercial law as between States and groups of States…

European Rules of Civil Procedure

UNIDROIT and the European Law Institute (ELI) are working together towards the development of European Rules of Civil Procedure. Leading academics, practicing lawyers, judges, and members of European institutions are represented in the various committees. The instrument is expected to be finalised and adopted by the UNIDROIT Governing Council at its 98th session…

Exemptions from the interdiction to offer securities in The Netherlands to the public

Are there any exemptions or exceptions from the interdiction to offer any securities in The Netherlands to the public or to admit to trading on a regulated market that is either located or functioning in The Netherlands without making available to the public a prospectus approved by a competent authority…

Vrijstellingsregeling prospectusplicht: meld- en informatieplicht

De vrijstellingsregeling van de prospectusplicht is per 1 oktober 2017 gewijzigd, zoals 6 september aangekondigd. De vrijstelling wordt verhoogd naar €5 miljoen. Aanbieders van effecten die gebruik maken van de vrijstelling moeten de aanbieding melden bij de AFM en de beleggers informeren over de aanbieding. Het format voor het informatiedocument voor beleggers is…

The legal status of Security Tokens in Europe

This article describes the legal context in seven European countries regarding Security Token Offerings. Such offerings differ from Initial Coin Offerings (ICO’s). An Initial Coin Offering (ICO) is the cryptocurrency equivalent to an Initial Public Offering (offering shares of a private cooperation to the public for the first time, also…

Becoming an International Offshore Centre – Steps to be taken by African nations

Introduction A number of African countries have began the process of moving away from being a tax haven to being an international finance centre, offering financial products to take advantage of the increasing international mobility of capital and labour. Legislations are continually being written with this goal in mind. It is…

The importance of the Astana International Financial Centre

Introduction Yet to be discovered as an international financial hub is the Astana International Financial Centre (AIFC) in Kazakhstan. In my opinion the current financial bubble in Western Europe and the crypto currency developments, make it almost impossible to ignore this opportunity to develop business and to diversify portfolios.

The value of a Dutch foundation for international asset protection

According to the Rule of Law Index , the Dutch justice system ranks as one of the most reliable and effective in the world. In general terms, only the Scandinavian justice systems seem to do better. In terms of resistance to discrimination, corruption and undue political influence, The Netherlands is…

Do I need a private placement memorandum (PPM) when attracting investors?

Yes. If you are seeking to raise investment money for your startup, keep in mind that the best measure you can take to protect yourself against frivolous claims is by disclosing as much information about your company as possible. This way, if things go wrong and your private investors threaten…

Important lecture: the AIFC Court and the Common Law Method of Resolving Commercial Disputes and Issues arising from Regulatory Decisions

The Rt. Hon. Sir Jack Beatson FBA, Justice of the AIFC Court  Delivered at the Supreme Court of the Republic of Kazakhstan  on Tuesday 24 April 2018 1. Introduction (1) It is a huge honour and a great pleasure to be asked to speak here at the Republic of Kazakhstan’s Supreme…

Tax structuring with Dutch private limited liability companies – shareholders’​ rights

Mainly due to its tax efficiency, the Dutch holding (BV) company regime is the most preferred holding regime in the world. The Dutch tax regime is beneficial regarding withholding tax, capital gains and income received from subsidiaries. Other advantages of a BV are the flexibility of Dutch corporate law and tax…

Getting Haiti back in the saddle

Goal of the article In 2017, Professor Michael E. Porter of Harvard Business School gave an important presentation about a strategy for restoring Haiti’s prosperity. A crucial part of his advice is to “make attracting foreign investment a core strategy“. In this article I will provide a suggestion to implement…

Example of a tax minimization technique, called “double Irish with a Dutch sandwich”

The double Irish with a Dutch sandwich is a tax avoidance technique employed by large corporations, such as Google, Apple and Microsoft. This construction is called double Irish because two Irish companies are used in the arrangement. It involves the use of a combination of Irish and Dutch subsidiary companies to shift profits to low tax…

The myth of the financialization of the housing market

Background In February 2017, mrs Leilani Farha, the United Nations’ special rapporteur for housing, presented a paper on housing commoditisation to the UN human rights council in Geneva. The paper explains how an unregulated financial market has boosted housing prices to a level that excludes low-income households from certain attractive…