Central & South America

Financial Services Authority of Seychelles

With effect from the 1st March 2014, the Seychelles International Business Authority (“SIBA”) has been replaced by the Financial Services Authority (the “FSA”), with the coming into force of the Financial Services Authority Act 2013 (the “FSA Act”). The FSA’s new website is: www.fsaseychelles.sc.

While SIBA was both a regulator and a facilitating agency with an outward looking mission to promote Seychelles to the world, the FSA’s mission is predominantly to monitor, supervise and regulate services providers involved in non-banking financial services, which include corporate service providers, trust companies, foundation services providers and other regulated entities falling under the remit of other non-banking financial services legislation.

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Part 2. New regime of Substantial Ownership in the DR

2. Brief International Positions on the Substantial Ownership and Effective Control

2.1. US

As for the United States of America, briefly explained, there remains the restriction for foreigners to participate in the ownership and control of United States airlines, for only shares with voting rights up to 25% of its share capital could be held by non-US.

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Chile creates new stock exchange for start-up companies

Fecha de publicación: febrero 21, 2014

Fuente: Latin Lawyer

1344566105_pdf Chile creates new stock exchange…

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Part 1. New regime of Substantial Ownership in the DR

aila With this post I start a series of 5 posts that will look into the new regime of Substantial Ownership of national airlines adopted in the Dominican Republic, by virtue of Law 67-13, which modified Law 491-06.

The complete series will be divided in 5 short titles:

1. History of substantial ownership and effective control

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Dos nuevos socios en Aninat Schwencke & Cía.

Fecha de publicación: noviembre 15, 2013

Se trata de Rodrigo Ugarte y Arturo Costabal.

Fuente: Revista Capital

1344566105_pdf  Capital Legal, dos nuevos socios

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Protect your IP assets

Trademark Symbol



Registering trademarks and other intellectual property rights in the Dominican Republic is a very simple process and is an effective way to protect your valuable IP investments against infringements and other violations. IP are part of your company assets, protect them right.

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Ground Handling Agreements – A Presentation

During the 2013 World Airport Lawyers Association meeting held in Montreal earlier this month, Santiago Mejia-Ortiz of Grupo Solianza Legal Team presented on Ground Handling Agreements to over 100 participants from more than 35 countries. To see his presentation, please click here.

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WALA Conference 2013



It was an extraordinary experience being able to participate in the World Airport Lawyers Association (WALA) World Meeting 2013, held in Montreal earlier this month.

And most of all it was exciting to be able to speak at that conference on the matter of “Ground Handling Agreements”, for a great audience and experienced colleagues.

Thanks to Diego Gonzalez and WALA for the invitation and the opportunity.

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“Investors Wanted”: Modification to the DR Aviation Law

On April 2013, the Dominican Congress approved a Modification of the Dominican Republic Aviation Law (491-06), and on April 24th the President made the Law official by Presidential Decree.

Briefly explained, Law No. 67-13, modified Law 491-06, in the following aspects:

- Regarding Budgets and Financial aspects of the IDAC (civil aviation authority)

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Could a company in process of being incorporated enter into an agreement provided there is a clause conditioning the validity of the agreement to the incorporation fulfillment?

A few days ago I was thinking on this next blog entry, trying to find a corporate issue that could be addressed different depending on the jurisdiction and this question came to mind: Could a company in process of being incorporated enter into an agreement provided there is a clause conditioning the validity of the agreement to the incorporation fulfillment?

Before going forward with the post, keep in mind that this is not the case that a company is not incorporated and hold back this information from the other party. This is the case, when everybody knows the company is in process of incorporation and both parties agree to proceed nevertheless.

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