Riquito Advogados
In the midst of a global economic crisis of proportions unseen for generations, the financial woes of many businesses have become such that today, the pursuit of survival has taken the place of the pursuit of profit. Come the time for yearly accounting, companies based in the Macau SAR may be faced with a situation where their net value has decreased to such a level that the law mandates immediate action. Such is the case of Article 206 of the Commercial Code, the terms and provisions of which stipulate that, should the board of directors verify through the annual accounts that the company’s net value is lower than half of its share capital, it is compelled under the penalty of criminal law to submit for approval by the shareholders a resolution which embraces one of the three solutions set forth by the legislator.
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Sponsored by Riquito AdvogadosBelmiro Leong and Kimberley Cheong of Riquito Advogados urge companies to review their policies on reporting profits tax as Macau SAR introduces new rules aligned with international transfer pricing standards
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Sponsored by Riquito AdvogadosBruno Almeida and Bernice Kwok of Riquito Advogados examine how the first update to the Insurance Intermediary Activities Ordinance since 2003 addresses licensing and supervision amid Macau’s financial legal environment reforms
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Sponsored by Riquito AdvogadosBruno Almeida and Daniel de Senna Fernandes of Riquito Advogados provide an update on the development of Macau’s digital currency, which presents several issues but paves the way for new fintech entrants