Managers of Wealth Offshore

Cayman Grand Court permits joint provisional liquidators to control the timing of their discharge of office

Given that the restructuring had been achieved, the JPLs applied for their discharge and the Court acceded to that application.

Stress-free conveyancing in Cayman

The Cayman Islands has a world-class land title registration system, with strict rules relating to documents and filings.

GROW Jersey accelerates plans following £40,000 Lloyds Bank sponsorship

This new sponsorship will fund the purchase of much needed machinery and allow Grow Jersey to expand its services.

We have made some enhancements to myRegistry, including the launch of the new Limited Liability Company Register

Users will now have the ability to register a limited liability company via myRegistry and file other updates via myRegistry.

Minimum Wage Of Between $16 – $16.40

Hospitality workers who receive tips and gratuities and personal care workers who primarily receive remuneration through commission will have a minimum wage set at 75% of the ordinary minimum wage, equating to a fixed rate of between $12 and $12.30.

CIBC FirstCaribbean International Bank ends operations in Dominica

Wellington noted that the bank is mindful of its continuing obligations to its team in Dominica and to their clients during the period of transition.

Bermuda Insurance Code of Conduct and Independent Directors

This revised draft of the Insurance Code of Conduct comes into force on 1 September 2022

Cayman Islands' new restructuring officer regime is now in force

Although the courts had been adept at adapting the provisional liquidation process for the purposes of restructuring, liquidation proceedings had been less than ideal for these purposes.

Central Bank: Private sector loan arrears drop by $27m

“Banks’ total provisions for loan losses declined by $18.3 million (3.9 percent) to $447.9 million, in July,” the report read.

Cayman National plans merger with Republic Bank Cayman

Following the mergers, Cayman National Bank and Cayman National Securities will remain as surviving entities.

Waiting on remittance loading bonanza

One company has applied to provide service

Going Up: Central Bank reports external reserves increase to just over $3.3 billion in July

According to the Central Bank, preliminary data on foreign currency sales for current account transactions showed a $99.7 million rise in outflows to $563.1 million in July

CDB Partners with ECSRC to Bring Crowdfunding to Eastern Caribbean MSMEs

The project will also deliver a Crowdfunding Policy Framework developed by the ECSRC and a prototype for testing and fine tuning.

Antigua: PM Gaston Browne calls for the removal of ECAB Chairman

Craig Walter is not ready for Primetime and they need to remove him as the Chairman and possibly remove him as the director," Browne asserted.

JFSC proposes 12.9% fee rise for insurance businesses

The change will affect any person applying for or already holding a permit to undertake insurance business.

How to deal with the JFSC and JFSC investigations

In this infographic, we share our top ten tips for dealing with regulatory investigations.

Plans afoot for phased increase to pension contributions

Labour Minister Chris Saunders said the contribution of 10%, which is paid between staff and employers, is insufficient and must increase, but this will most likely be through 0.5% annual increments that won’t start until 2024 and will come with far

Householders’ Right To Renewable Energy Policy Now In Operation in Barbados

The benefits include reduced electricity bills and the potential for householders to earn revenue from the system installed, if their output is greater than usage.

Mexico And Barbados To Explore Other Areas Of Cooperation

Ambassador of Mexico to Barbados, Victor Hugo Morales Meléndez, paid a courtesy call on the Acting Prime Minister at Ilaro Court recently, where the two counterparts held wide-ranging talks on a number of areas.

Time to Register on the Register of Overseas Entities

This new legislation applies to any company or similar entity that is incorporated outside of the UK and broadly apply to any freehold or leasehold property in the UK. Please read our previous update for further information.

Regulation, Risk & Compliance