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The United States is in a process of legal changes framed in the Corporate Transparency Act (CTA) or business transparency law, by which it is intended to establish the communication of final beneficiaries to the Financial Crimes Enforcement Network (FinCEN) of the USA, by the corporate structures incorporated there or those foreigners that carry out commercial activities in the US.
Although the norm was approved by the US Congress on January 1, 2021 through the defense law, there were still many aspects to clarify and polish through the regulations, so that said communication of final beneficiaries is really done. effective.
It is in this sense, through this Newsletter we want to send you the latest updates regarding this matter and keep you informed about the progress.

The world is on the way to transparency and this fact may be motivated by the fiscal voracity of the great powers, by an objective of social justice or perhaps to prevent money laundering and criminal activities, each one will have their own assessments in this regard. , the truth is that offshore jurisdictions have not been immune to this trend, and many times under pressure from the great powers that question their credibility and even threaten to incorporate them into blacklists, they have had to gradually adapt their legislation.

We are pleased to announce the publication in Thomson Reuters Argentina | LEGAL and Thomson Reuters Uy of the article referring to Trusts and their impact in Latin America prepared by our partner and director Augusto Tachini.

At times, like the current one, where political instability reigns in much of Latin America, it is always important to look for alternatives that protect our heritage and guarantee an orderly succession for our heirs.

In this sense, the Trust has become an excellent tool that guarantees tailor-made succession planning, ideal asset protection and many times significant tax savings on the assets contributed there.