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PANAMA

GENERAL INFORMATION

A number of significant amendments to Nevis’s existing Corporation, LLC and Trust laws became effective on 1 July 2015. The amendments were drafted by the Nevis Island Administration in partnership with leading legal practitioners in the corporate and trust sectors. The amendments will further cement the position of Nevis as a premier jurisdiction for offshore corporate, LLC and trust formation. The most significant changes are summarized below and the full text of the amendments can be downloaded from the website of The Nevis Financial Services Department at www.nevisfsrc.com.

A number of significant amendments to Nevis's existing Corporation, LLC and Trust laws became effective on 1 July 2015. The amendments were drafted by the Nevis Island Administration in partnership with leading legal practitioners in the corporate and trust sectors. The amendments will further cement the position of Nevis as a premier jurisdiction for offshore corporate, LLC and trust formation. The most significant changes are summarized below and the full text of the amendments can be downloaded from the website of The Nevis Financial Services Department at www.nevisfsrc.com.

During the evening of May 23rd, the U.S. Silicon Valley Delegation led by Mr. Wang Yang, president of China Silicon Valley Organization, met the representatives from Shenzhen General Chamber of Commerce (SGCC). SGCC held a fellowship party for the guests. The two groups signed a Strategic Partnership Agreement.

On the morning of May 23rd, the U.S. Silicon Valley Delegation attended the opening ceremony of the “Global Cre8 Summit” in Shenzhen. Mr. Tony Spitaleri, mayor of Sunnyvale, made a speech on behalf of the U.S. Silicon Valley Delegation.

On May 22nd, the U.S. Silicon Valley Delegation visited Shenzhen, and communicated in depth with Mr. Biao Chen, Vice Mayor of Shenzhen, relative to innovation and economic development. The two sides agreed to establish a mechanism for regular exchanges of visits. They also agreed to jointly seek solutions for maintaining a continuous capability of innovation and development of high-tech industry.

During the evening of May 20th, Mr. Yuan Xie, vice president of the Chinese People’s Association for Friendship with Foreign Countries (CPAFFC), met the U.S. Silicon Valley Delegation.

On May 20th, Guoying Zong, a member of Tianjin Municipal Committee and secretary of the Binhai District Committee of the CPC, met the U.S. Silicon Valley Delegation which was led by Mr. Wang Yang, the president of China Silicon Valley Organization.

On the morning of May 19th, the U.S. Silicon Valley Delegation attended the Zhangjiakou Ice-Snow Industry Promotion for bidding for the 2022 Winter Olympic Games. It also witnessed the Key Industry Projects Signing Ceremony.