Managers of Wealth Offshore

Jersey Royal Court imposes substantial fine for inadequate AML policies and procedures

As the Court noted, the Jersey branch "was not, therefore, in terms of its size, a substantial operation".

Jersey Limited Liability Companies – Further Groundwork Laid Ahead Of Launch

The introduction of this product into the Jersey legislative framework will enable Jersey to diversify from its current markets

Creation of security by a BVI company

The BVI Business Companies Act 2004 (the Act) gives a company the power (subject to its memorandum and articles of association) to create security over its assets to secure an obligation owed by it or another person.

Economic substance in the Cayman Islands

The Substance Law also reflects Cayman's commitment as a member of the OECD's Inclusive Framework on Base Erosion and Profit Shifting (BEPS) and, in particular, BEPS Action 51 .

Leading the way with first European listing for ADGM funds industry

Paul Wilkes, Director of Collas Crill Listings Limited, said: 'We are delighted to have been able to help bring this fund to TISE.

Insolvent Trading & Voidable Transactions – BVI Companies

A director can be personally liable if such director fails to take appropriate steps to commence formal liquidation where there is no reasonable prospect of the company avoiding insolvent liquidation.

BVI AEOI Reporting Deadlines Extended

Where Trident Trust provides director and/or trustee services to the financial institution (FI), we will handle the necessary FATCA and/or CRS enrolment and filing.

Insolvent Trading – British Virgin Islands Companies

A director may be held personally liable if, on the application of a liquidator, a court decides that the director knew or ought to have concluded prior to commencing formal liquidation that there was no reasonable prospect that the company would avoid go

MFSA's new anti-money laundering team probes 25 fresh cases

Of 105 cases opened last year, 25 related to money laundering

Launch of the Inaugural Appleby China Roadshow

The roadshow will be hosted via a series of webinars throughout June delivered in Mandarin.

Appleby Mauritius Advises and Protects the Interests of Minority Shareholder Amidst Shareholder Dispute

Appleby Mauritius advised the Applicant, a minority shareholder which holds stakes in a joint venture company, invested in the transportation of crude oil and other oil products in Africa.

Ogier associates admitted as attorneys at law in Cayman Islands

Both Samantha and Kayla joined Ogier's Articled Clerkship programme, which aims to foster, support and develop local talent in the Cayman Islands, in September 2018. Kayla had previously been a summer intern at the firm.

Doctrine of mistake and rule in Hastings-Bass

The Court also made plain that it is no part of its function to take steps to improve the taxation position of the applicant.

BVI Reporting FIs – Have you got your AEOI policies and procedures in place?

The notice notes "failure to comply with the request is an offence and is liable on conviction to a fine not exceeding one hundred thousand dollars (US$100,000.00).

Financing and Money Services (Amendment) Act 2020 is brought into force

By way of legal update, on 30 April 2020, the Minister published a notice in the Gazette bringing the Amendment into force as of 4 May 2020.

Appleby Advises on New Recovery Fund Foundation

Appleby acted as Cayman attorneys advising in relation to the establishment of the foundation.

Conyers Wins Offshore Law Firm of the Year and Two Deal Awards at 2020 IFLR Asia-Pacific Awards

These recognitions are encouraging and prove our capability to tackle the most complex and challenging legal matters.

New allegations against Juan Carlos

As part of the administrative assistance, the latter sent its findings about Juan Carlos' secret account to the Spanish national court, which is investigating suspected money laundering, tax evasion and corruption.

Focus on Injunctions in the light of Paraskevaides - Full and frank disclosure in the BVI

These issues are important for litigants in the BVI because urgent ex parte injunctions are often needed – or said to be needed – at the outset of the international disputes that comprise the BVI Commercial Court's workload.

Bermuda’s approach to defective trustee appointments

Hargun CJ recognised that granting the orders sought would not ratify the plaintiff’s actions as de facto trustee

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