Komorowski Law Firm

01/07/2022

New year, new regulations: get ready to disclose beneficial ownership in the US

In December 2021 FinCEN published proposed regulations on beneficial ownership information reporting requirements with a comment period ending on February 7, 2022. The final regulations are expected to be issued in 2022.

Under the proposed regulations all reporting companies, new and already existing, would be required to disclose their beneficial ownership to FinCEN.

Immediate Release December 07, 2021 Millions of corporations, limited liability companies, and other entities are formed within the United States each year. While such entities play an essential and legitimate role in the U.S. and global economies, they can also be used to facilitate illicit activit...

05/05/2021

A strong non-compete clause can be very effective in keeping a company ahead of its competition. In California however, non-competes have been recognized as mostly unenforceable.

Read our latest article covering everything you need to know about the topic:

Non-competes in California are generally void and unenforceable, however there are a few important exceptions to keep in mind.

04/16/2021

Getting ready for mandatory disclosure of beneficial ownership in the US: FinCEN moves forward with its task to promulgate the regulations implementing the Corporate Transparency Act by the end of 2021.

The beneficial ownership information in the US will be maintained confidentially, but it will be available to law enforcement entities (including foreign ones).

FinCEN is issuing this advance notice of proposed rulemaking (ANPRM) to solicit public comment on questions pertinent to the implementation of the Corporate Transparency Act (CTA), enacted into law as part of the National Defense Authorization Act for Fiscal Year 2021 (NDAA). This ANPRM seeks...

03/18/2021

In some European countries, including Poland, a notarial deed is still a mandatory requirement in the incorporation process.

In his recent article published in Rzeczpospolita Stanislaw Komorowski analyzes the burdensome character of the requirement in comparison to the incorporation process in the state of Delaware.

Read the full article in Polish:

Jeżeli Polska chce odgrywać rolę centrum biznesowego Europy Środkowo-Wschodniej, ustawodawca powinien zaadaptować rozwiązania, które uproszczą zakładanie spółek handlowych, szczególnie dla zagranicznych przedsiębiorców.

12/31/2020

It's tempting to pop the champagne, take a victory lap and boast about all the transactions we worked on in 2020.

However, as attorneys, we understand that we are facilitators, not the creators.

Therefore, all credit for our 2020 success goes to our clients who pushed through the pandemic like juggernauts.

Thank you for letting us not only survive but thrive.

08/06/2020

Proud to announce that KLF represented NXT Factory and its stockholders in NXT Factory's acquisition by Nexa3D - a 3D printing giant.

Congrats to both parties, this has the potential to shake the foundation of the industry.

Nexa3D, the maker of ultra-fast stereolithography production 3D printers, and NXT Factory, the pioneer of Quantum Laser Sintering (QLS™) 3D printers f

05/22/2020

Bad news: BE-10 - BEA's benchmark survey of U.S. Direct Investment Abroad, conducted every five years, is due on May 29, 2020.

It is mandatory to any U.S. person (individual or entity) that had a foreign affiliate – that is, that had direct or indirect ownership or control of at least 10 percent of the voting stock of an incorporated foreign business enterprise, or an equivalent interest in an unincorporated foreign business enterprise – at the end of the U.S. person’s 2019 fiscal year.

Good news: you can file for an extension online, and we can help you with your BE-10.

05/21/2020

Those who use Revolut already know easy and convenient it is, especially when travelling or dealing with multiple currencies on a daily basis, both in personal and business matters.

We wrote a short article explaining why Revolut recently moved all its customers in Central and Eastern Europe to a licensed entity in Lithuania and why there is no reason to be worried about it.

Useful tip: Revolut is now available in the U.S. as well!

Did you receive an email from Revolut announcing that your account is being moved to Lithuania? Here is why you should not be worried about it.

04/23/2020

To all concerned about Donald Trump’s Executive Order suspending entry of immigrants to the United States

Please note that, as of today:
1. The suspension only applies to certain aliens entering the United States as immigrants (it does not apply to aliens seeking temporary entry to the United States on nonimmigrant visas, including E-2 Treaty Investors, E-2 Executive and Supervisory Employees, E-2 Essential Employees)
2. The suspension does not apply to aliens who are currently in the United States (including aliens seeking adjustment of status)

Nonimmigrant programs are planned to be reviewed within the next 30 days to determine other measures appropriate to stimulate the Unites States economy.

Official text of the Proclamation:

The 2019 Novel Coronavirus (COVID-19) has significantly disrupted the livelihoods of Americans. In Proclamation 9994 of March 13, 2020 (Declaring a Nation

03/05/2020

A short and informative article on how Uncle Sam taxes its citizens and green card holders.

Leaving the U.S. as a citizen or resident alien? Continue paying taxes on your worldwide income or expatriate and pay the expatriation tax.

02/04/2020

Always a pleasure to work with Neptune Labs Inc., this time on cross-border matters of its subsidiary's $3M financing in Poland.

Neptune, the Polish data science startup, has raised $3 million for its data collaboration platform. The round is led by btov Partner’s Digital Tech Fund and Private Investor Network, along with TDJ Pitango and Rheingau Founders. A crew of angels also participated, data science experts including M...

01/14/2020

How to deal with the California Consumer Privacy Act in 3 easy steps:

1. Stop paying attention to doomsayers.

2. Read our article and establish if you may be actually covered by the CCPA.

3. If you are certainly not - relax. Otherwise, get help from a California-licensed attorney.

With no federal data protection regulation in sight, California becomes the first U.S. state to implement a comprehensive law dedicated to consumer privacy.