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Teasuring Center In A Group (Defined by BVI Act and CRS)

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发表于 2021-2-5 10:20:24 | 显示全部楼层 |阅读模式
The related entities in a group, defined by BVI Securities and Investment Act (2010), is the ‘subsidiary or parent undertaking which has a significant interest.’; And the ‘significant interest’ is defined as the capacity to ‘appoint or remove one or more directors of the undertaking.’; And the related entities can be financial institutes status. In this case, the Treasuring Center is NOT required to hold a fund license to provide fund management business for or with the related entities in a group. The recent BVI Economic Substances Act (2019) also does NOT required this Treasuring Center (not a fund definition) to comply with 'the relavent activities' as well.  

Please note: BVI definition is broader than the Treasuring Center in a Group defined by CRS. The CRS definition consider this Treasuring Center as Active Entity without classification into Financial Institute status. However, the BVI definition is definitely the Financial Institute as Investment Entity.      
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