Managers of Wealth Offshore

Revised Mauritius–Lesotho Double Taxation Avoidance Agreement comes into force

The provisions of the DTAA are therefore applicable in Mauritius as from 1 July 2021.

MFSA issues warning about three online companies

Warnings about Legit Crypto Option, Admiral Capital Trade and Hillwood Limited

Parental bereavement leave update - Jersey

The intention is clear – to ensure that grieving parents do not have to request or negotiate time off work following the tragic death of a child.

Bahamas Chapter: Aviation Guide – The Legal 500 (2021)

The Q&A styled guide gives information about the current issues affecting aviation finance and leasing laws and regulations in The Bahamas

Butterfield Reaches Resolution With US Department of Justice

The financial payments totaling $5.6 million in respect of Forfeiture and Tax Restitution Amounts are in line with the existing provision included in Butterfield’s financial statements as recorded in 2015 and 2016.

TISE launches Qualified Investor Bond Market (QIBM)

The QIBM represents a dedicated exchange offering for the listing of bonds marketed to ‘qualified investors’

Data on Maltese nationals’ Dubai offshore holdings given to police

Dubai List has information on around 20 Maltese nationals’ offshore holdings

US targets wealthy tax evaders using Panama law firm

10 institutions including Wells Fargo Bank, BofA, HSBC and Citibank to receive summonses

HMRC’s review of Family Investment Companies and their use for wealth planning

Whilst so far there have not been any significant changes to the taxation of FICs, we may see new anti-avoidance rules in the future.

Reforming a Cayman Islands STAR trust: A lesson in obsolescence

The written reasons recently released by the Court

Demystifying VASPs in Crypto Compliance

This definition encompasses a range of crypto businesses, including exchanges, ATM operators, wallet custodians, and hedge funds.

The Director Registration and Licensing Regime in the Cayman Islands

The DRLA also prescribes a licensing regime for corporate directors of Covered Entities.

NFTs: Authenticity, accessibility and equitability in the art world

NFTs are units of data created and stored on blockchain technology.

Dispute over CIFA finances following Cayman’s World Cup qualifiers

CIFA says player, staff payments were adequate following manager's criticism.

IoD welcomes "more proportionate" border policy

The emergency decision-making body has now sidelined that idea in favour of lateral flow tests on arrival.

JTC Comments: FCA Statement on SPACS

The consultation process was launched in April following a huge demand for SPAC listings in New York in 2020.

Ireland Update: Imposing Pay Cuts without Employee Consultation or Consent

This may be due the general level of acceptance by staff that pay cuts were unavoidable given the unprecedented circumstances.

Implications of the BVI Data Protection Act for Investment Funds

The remainder of this note focuses on the specific effect of the Act on investment funds.

A new era of assertiveness for the UK regulator

Newgate Compliance (an Ocorian owned company) Managing Director, Traci Pham and Senior Consultant, Jay Pyne summarise the key points and what firms can do to plan ahead.

Tax factsheet – The UK’s Statutory Residence Test

Considered at a high level, the SRT is relatively straightforward.

Regulation, Risk & Compliance