Managers of Wealth Offshore

The Damage Done from “Blacklisting” Caribbean Countries

The EU’s blacklist has mostly featured small economies like Palau and Samoa though territories more known for offshore business including Panama and the Cayman Islands have featured.

Central Bank: Trinidad and Tobago lucrative for mergers, acquisitions

The session also sought to explain mergers and acquisitions and the impact on an economy, especially in a pandemic.

Economic substance requirements: overview

The requirements of the economic substance test vary depending on the relevant activities conducted and each relevant entity must make an annual report in order to enable its compliance with the requirements of the economic substance test to be assessed.

Ireland Update | Code of Practice on the Right to Disconnect

The Code does not create any new substantive rights for employees or offences for an employer.

New filings for Cayman Islands private funds

This declaration must be filed with CIMA within 6 months of the financial year end of the private fund.

Top Industry Partners Celebrated at 2020 Financial Services Awards

This year’s big winner is KPMG BVI, who received three awards, including Auditor of the Year, Accounting Firm of the Year, and Insolvency Practice of the Year.

UBO Information in Cayman is safe from prying eyes

The BO regime is aimed at improving the exchange of information between Cayman and international regulatory

Rights of renewal for commercial tenants in Jersey

A tacit renewal is implied from the actions of the parties to the lease.

Emerging Patterns in Cayman Islands Merger Appraisal Litigation

In the majority of cases, the merger is initiated by the company’s founder as a mechanism to take the company private by acquiring the shares of minority shareholders.

Using provisional liquidation offshore to preserve bondholder claims under keepwell deeds

Through a keepwell deed, the PRC parent company undertakes to keep the offshore bonds issuer solvent and financially stable so that it can meet its payment obligations in respect of the bonds.

MFSA outlines expectations in fund management sector in new publication

The authority said that it expected licence holders to take note of the content of the publication and carry out a self-assessment exercise with respect to the recommendations being made

Sanne enters into an agreement to acquire STRAIT

Sanne Group plc (“Sanne”) has entered into an agreement to acquire STRAIT, a successful Dallas based fund solutions company for alternative investment firms.

CIMA cancels more than 1,300 director registrations

The authority had warned 1,330 directors in a public notice in December that it would cancel their registrations if they did not comply with the requirements.

Mauritius a player in transparency – identifying Ultimate Beneficial Owners

This mandate for transparency in many jurisdictions has changed the game in the financial industry around the world and Mauritius as a responsible player has been no exception.

Malta launches new citizenship by investment programme

It is a member of the EU and offers its citizens visa free travel to over 180 countries.

Cayman Islands Update: Witnessing Deeds or Instruments Remotely in a Covid-19 World

Practically it would seem prudent, given the possible temporary nature of the amendment introduced by the 2020 Act

Jersey - the REIT choice for UK property investment

The company does not however need to be incorporated in the UK and may therefore be incorporated in Jersey.

RBC completes sale of Eastern Caribbean banking operations

RBC sold its Eastern Caribbean banking operations to a consortium of regional banks which includes 1st National Bank of St. Lucia, Antigua Commercial Bank, Bank of Dominica, Bank of Montserrat, and The Bank of Nevis.

FinCEN Launches Regulatory Process for New Beneficial Ownership Reporting Requirement

The CTA requires FinCEN to maintain the reported beneficial ownership information in a confidential, secure, and non-public database.

Directors of BVI companies: to whom do you owe duties if your company is experiencing financial stress?

Other companies will be forced to abandon, or at least delay, planned growth projects.

Regulation, Risk & Compliance