In the Headlines
Spring 2024

International Impacts of the Beneficial Ownership Rules

An Interview with Holland & Knight's Ed Arista
Thomson Reuters Forum
Private Wealth Services attorney Eduardo Arista was interviewed for a Thomson Reuters Forum article about the challenges faced by foreign beneficial owners in complying with the new Beneficial Ownership Information (BOI) Reporting Database requirements under the Corporate Transparency Act (CTA). The article highlighted the complexity of cross-border legal structures and the lack of widespread education on the new rules, which may leave many foreign beneficial owners unaware of their obligations. Mr. Arista emphasized the need for these individuals to act quickly and confidentially to determine how to comply while preserving as much privacy as the law permits.

"International private clients who are beneficial owners of companies in the U.S. need to rush their legal planning to completion to preserve privacy without incurring hefty penalties and criminal exposure," he said.

READ: International Impacts of the Beneficial Ownership Rules

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