It’s Independence Day of course and US companies are the largest investors in Ireland but amazingly we’re the 5th largest investor in the US.  That means that thousands of Irish companies need to be aware of a new piece of legislation over there called Corporate Transparency  Act.  It has a number of provisions including a declaration of the beneficial owner.  Failure to do so could land you in jail for up to 2 years.  

We get the details from Sean Nolan, Partner, international law firm Clark Hill.