EU presents 47 Strategic Projects to secure critical raw materials The European Commission announced on Tuesday (25 March) a landmark initiative to secure the EU’s access to critical raw materials, selecting 47 Strategic Projects under the newly implemented Critical Raw Materials Act (CRMA). This initiative aims to reduce reliance on imports and strengthen the EU’s capacity to extract, process, and recycle resources vital for green technologies, defence, and digital industries. Spanning 13 EU member states—including Germany, France, Spain, and Sweden—the projects will focus...

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By Diane K. Roskies, Partner Offit Kurman In today’s highly mobile world, it is increasingly common for U.S. citizens and permanent residents to own homes abroad. These properties may have been acquired as vacation homes, inherited from parents who remained in their home countries or maintained as dual residences for work, particularly by executives of international corporations. Even after retirement, many individuals choose to retain their non-U.S. homes. In my practice, I have encountered all these scenarios involving U.S. persons...

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Go-To Guide: Domestic companies and their beneficial owners are now exempt from the requirement to file beneficial ownership information (BOI) reports, or to update or correct previously filed BOI reports. Foreign reporting companies that do not qualify for an exemption must report BOI by April 25, 2025, but need not report their U.S. beneficial owners. The Financial Crimes Enforcement Network (FinCEN) is soliciting public comments on the interim final rule and intends to issue a final rule later this...

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Overview:  Uncertainty over next week's US tariff announcement continues weigh on markets and undermines near-term conviction. The dollar is mostly consolidating against the G10 currencies. Sterling is the heaviest, off about 0.3% after a soft CPI report and ahead of the Spring Budget Statement. The dollar bloc and Norwegian krone are the strongest. Among emerging market currencies, the Mexican peso roughly 0.25% loss puts it at the bottom of the performers today. The beaten-up Turkish lira is practically flat, but...

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By Joel G. Young, JD, LLM With the complexity of the U.S. tax code, foreign persons may inadvertently trigger a withholding tax on the sale or disposition of U.S. real estate even when they are party to an otherwise tax-free reorganization. It is important for foreign individuals to understand the nuances of the Foreign Investment in Real Property Act (FIRPTA) and the ways in which they may avoid FIRPTA withholding tax on these and other types of transactions. The U.S. generally...

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