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 AdvogadosThe Monetary Authority of Macau (AMCM) prepared new guidelines for additional due diligence and control by the banks operating in Macau over customers that engage in transactions that may be connected to gaming activities. -
Sponsored by Riquito AdvogadosMacao SAR has been under pressure in recent years to adjust its tax laws to international standards. While a long overdue, wide Macao SAR tax system reform continues to be delayed, some new laws and several adjustments to the existing laws are being introduced to meet up with the undertakings assumed by Macao SAR and its motherland in the international spectrum.
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Sponsored by Riquito AdvogadosAt a time when Macau is continuously striving to develop economic diversification and strengthen its role as a world leisure and tourism centre, the new draft Hotel Business Law, which is still under discussion in the Macau Legislative Council, is designated to liberalise and diversify the hospitality industry in various ways.
