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Why Outsource Corporate Secretarial Services in Paraguay?

Why Outsource Corporate Secretarial Services in Paraguay?

Corporate secretarial services in Paraguay help clients to manage and alleviate risks of their business’ compliance. Paraguay is one of the most attractive countries for doing business in South America. The World Bank states that the country has a fast-growing economy with a continuous growth percentage of 4.5% over the last years. In the last two decades, Paraguay has experienced important changes in its economy, overcoming financial challenges in the 1990s and the beginning of the new millennium, and making fiscal and debt adjustments in the middle of the last decade. The country has been favored by positive external factors that added to macroeconomic stability, leading to years of notable growth in GDP and GDP per capita. We outline crucial competencies to look for in a provider of corporate secretarial services in Paraguay, and the importance of these services when expanding your business. Importance of corporate secretarial services in Paraguay The right corporate secretarial services provider supports a company’s risk management activities by enabling businesses to fulfill their corporate obligations. Setting up operations in a new country such as Paraguay is a challenge in regards to understanding and complying with new tax regulations, adapting to a new business culture and hiring the right staff. It can be time-consuming and complicated, especially when considering language and cultural barriers.  For this reason, it is vital to work with a trusted local partner to ensure that your company meets all local and international requirements. Hiring a local provider...

When Do You Need a Transfer Pricing Study in Colombia and What Has Changed During Covid-19?

When Do You Need a Transfer Pricing Study in Colombia and What Has Changed During Covid-19?

Find out when businesses should carry out a transfer pricing study in Colombia, and changes in the regulatory environment that could impact your activities. Transfer pricing is a broad concept coined by the Organization for Economic Cooperation and Development (OECD) which encompasses a set of obligations for multinational enterprise groups who develop commercial transactions between their member companies. What is a transfer pricing study in Colombia? OECD issued a set of recommendations which have been progressively adopted by the member countries’ internal legislation, including by Colombia. In its most basic definition by OECD, a transfer price is “a price, adopted for book- keeping purposes, which is used to value transactions between affiliated enterprises integrated under the same management at artificially high or low levels in order to effect an unspecified income payment or capital transfer between those enterprises.” In the development of that definition, OECD issued a set of recommendations which have been progressively adopted by the member countries’ internal legislation, including by Colombia. In essence, transfer pricing regulations aim to reduce the shifting of profits from one jurisdiction to another through internal transactions inside a corporate group. Any transaction made with a company inside the same corporate group must be made amarket conditions. Who must comply with regulations for transfer pricing studies in Colombia, and how? Colombia, as a recently accepted member of OECD, has included the organization’s recommendations regarding transfer...

Why Outsource Corporate Secretarial Services in Bolivia?

Why Outsource Corporate Secretarial Services in Bolivia?

Find out what corporate secretarial services in Bolivia are available to your business from third-party providers, and how they can relieve pressures on your expanding commercial activities. One of the most important things to take into consideration when doing business in Bolivia is to ensure your company stays compliant with local corporate obligations at all times. These services will help companies to develop their activities without legal hurdles.  Any company needs the best legal, accounting and financial advice, in order to fulfil all requirements before regulatory entities on time. Being a constant support to manage companies’ compliance, corporate secretarial services will help a company in Bolivia to avoid penalties.  What are the available corporate secretarial services in Bolivia? One of the most important corporate secretarial service in Bolivia is the analysis of all company documents. Legal and financial audit One of the most important corporate secretarial service in Bolivia is the analysis of all company documents; a legal and financial audit will detect any problems in the company’s compliance with its annual obligations. Once the audit is completed, a legal report will determine if the company’s compliance is faultless. If the audit detects some pending obligations actions can be taken immediately to avoid any kinds of penalties from public entities, such as the Bolivian Tax Office. Payroll and personal Each month, the Ministry of Labor and social security demand a payroll declaration. Having corporate secretarial services in Bolivia for your...

What is a Corporate Compliance Officer for an NGO in Ecuador?

What is a Corporate Compliance Officer for an NGO in Ecuador?

Owners of a Non-Governmental Organization (NGO) must appoint and register a Compliance Officer in Ecuador according to local corporate regulations. Non-Governmental Organizations in Ecuador, beyond having to comply with specific requirements for the operation of their activities locally, are also considered obligated subjects before the Financial and Economic Analysis Unit of Ecuador (Unidad de Análisis Financiero y Económico - UAFE). This regulatory body is the one in charge of identifying and regulating companies or organizations whose activities could become directly related to money laundering and/or crime financing in the country. For this reason, NGOs, like other entities, must comply with the process of registration and compliance with obligations, controls and reports to the UAFE. Part of this includes working with a Compliance Officer in Ecuador. What is a Compliance Officer in Ecuador? It is necessary to register a main Compliance Officer in Ecuador, plus an alternate. A Compliance Officer, according to the UAFE, is defined as a managerial level official responsible for complying with Ecuador’s regulations regarding the prevention of money laundering and financing of crimesexecuting the compliance program aimed at preventing the NGO from being used to carry out these illegal activitiesensuring the implementation of the procedures, controls and good practices necessary for the prevention of money laundering and the financing of crimes. Note that it is necessary to register a main Compliance Officer in Ecuador, plus an alternate. This applies whether the entity is...

5 Reasons to get an Entity Health Check in Chile

5 Reasons to get an Entity Health Check in Chile

Find out why and when it is a good idea to get an entity health check in Chile. Manage your business risks and protect yourself from potential non-compliance issues by understanding your company’s corporate ‘health’ in the eyes of the government. Chile has well-established and solid legal and compliance frameworks designed to encourage and protect business people in the country.  To foreign executives, corporate compliance in Chile can be difficult to navigate - especially if there is a language barrier with local institutions.  It is a key instrument to ensure your company and the companies you are perhaps interested in acquiring/investing, are fully compliant with local regulations. As with other countries, an entity health check in Chile - also known as a corporate health or corporate compliance check - is one or more audits or due diligence reviews carried out on a legal entity. What is an entity health check in Chile? As with other countries, an entity health check in Chile - also known as a corporate health or corporate compliance check - is one or more audits or due diligence reviews carried out on a legal entity. These reviews aim to understand if that entity is and has been fully compliant with local corporate regulations. These reviews cover various aspects of a company’s activities, including the legal, accountancy, tax, human resources, licenses (administrative or others) operations. What things are covered in an entity health check? Entity health checks in Chile can vary quite a lot in terms of the extension, depth and aspects being audited. In most...

How to Liquidate a Company in Bolivia

How to Liquidate a Company in Bolivia

Find out how to liquidate your company in Bolivia and exit the market during challenging economic times. Currently, Bolivia has been working on improving its economic growth and reduce its inflation rate. Though there are many options and favorable conditions to do business in Bolivia, economic growth can be sluggish and business owners may decide to liquidate a company as final decision. To liquidate your business, it is important to know the right procedure to undertake it according to the country’s legal framework. The process to liquidate a company is a complex operation, and business owners will need to seek legal support from an expert to comply with all corporate obligations. Reasons for company liquidation The liquidation of a business may be for different circumstances pointed in the company’s bylaws and in the Royal Legislative Decree 1/2010 of the Law on Corporations, issued on 2 July 2010. This Decree highlights the key reasons to liquidate a company in Bolivia: General Shareholders’ Meeting Agreement, which must be registered and published.For the end of duration established in the bylaws.After one year since agreed the capital reduction below the legal minimum. Furthermore, the Decree outlines verification of legal cause to liquidate your Bolivian company, including: For the cessation of the corporate purpose’s activities.Due to the impossibility of achieving the corporate purpose.Due to stoppage of the corporate bodies.For losses that reduce net worth to less than half of the share capital.Capital reduction below the legal minimum.For other reasons...

Why Get an Entity Health Check in Colombia?

Why Get an Entity Health Check in Colombia?

Explore your options to get an entity health check in Colombia for your own business, or an existing company you may be planning to buy. A complex system of regulations, laws and licenses could be a factor not to buy an existing company without ensuring its status first. Additionally, you may not be aware of the full compliance picture of your company in Colombia. An entity health check can help with this.It is essential to understand any potential corporate non-compliance or concerns for your business operations when acquiring your business in Colombia. In order to take the biggest advantage of these succeeding markets whilst keeping on the correct side of administrative consistency, an entity health check is a key assurance check. Entity health checks in Colombia are reviews done by financial and legal experts. What is an entity health check? Entity health checks, also called corporate due diligence reports, are reviews carried out by financial and legal auditors. Employing an external provider that is specialized in entity health check provides commercial reassurance. Prospective business owners may authorize the provider to examine the legal, financial and accounting records of a company. The reason for checking the legal and fiscal states of an organization is to identify whether there are any non-compliance problems that the investors should take into account before buying an existing company. In a minefield of legal and accountancy regulations, it is simple for organizations to oversee or simply ignore compliance regulations.   Why should I get an entity...

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