Foster Moore® Acquired By Teranet Inc.
Foster MooreMay 6, 2020
We are excited to announce Foster Moore® has been acquired by Teranet, a Toronto based international leader in electronic land registration.
Six years ago we entered into a partial ownership relationship with Teranet – Canada’s leader in statutory registry services with deep expertise in land and commercial registries, to better position both companies to share expertise and operational approaches. Over time, building on common values and two solid market brands, our relationship has manifest itself into a number of joint initiatives and into a clear view of potential growth opportunities together in Canada and across the world. As a result, effective 1 May 2020, Foster Moore International will become a 100% owned Teranet group company.
The acquisition brings an investor with mutual growth objectives, strong operating capabilities in the online government, corporate…
Bermuda Economic Substance Declaration Portal Goes Live
Foster MooreMay 5, 2020
The Registrar of Companies for Bermuda launched the new Economic Substance Declaration (ESD) Portal on 1 May 2020. The declaration form needed to comply with Bermuda’s economic substance rules can only be filed via the ESD Portal, which is available at www.registrarofcompanies.gov.bm.
The ESD is required under the Economic Substance Amendment Act 2019. The legislation requires a “relevant entity” conducting “relevant activity” to report and maintain economic substance.
Under the legislation non-resident entities carrying on a relevant activity will not be subject to Bermuda economic substance requirements. They are obliged, however, to provide to the Registrar of Companies for each relevant financial period the name of the jurisdiction in which it claims to be resident for tax purposes together with sufficient evidence to support that tax residence. This information is lodged on the Economic Substance portal.
Bermuda as a…
2019 International Business Registers Report
Foster MooreMarch 27, 2020
The 2019 International Business Registers Report has been published.
The report is structured to reflect the diversity of respondents and the joint commitment by the four worldwide registry organisations ASORLAC (Association of Registers of Latin America and the Caribbean), CRF (Corporate Registers Forum), EBRA (European Business Registry Association) and IACA (International Association of Commercial Administrators) in supporting this work on behalf of their members.
The International Business Registers Survey and Report aims to assist business registers in comparing their own practice and performance with those of other jurisdictions. Benchmarking is one of the best ways to learn valuable lessons from others on how to improve ways of working and overcome challenges. Benchmarking in this context also serves to compare legal systems in different countries, which is critically important since legal systems are the foundation upon which all business registers operate.
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