Managers of Wealth Offshore

Ireland Update - Central Bank's Portal: Deadline for Registration

From 15 February 2021, the portal must be used for specific fund filings including attestation requests, index submissions and filings of amended fund documentation.

Consultation on the extension of Jersey’s economic substance regime to partnerships

The reason why the economic substance regime is being extended to partnerships is to fully meet commitments the Government of Jersey gave to the EU Code Group in 2018.

Ogier advises on private equity firm's £1.1bn acquisition of Priory Group

Ogier advised on the Jersey corporate and finance aspects of the acquisition.

The Supreme Court of Bermuda exercises "statutory Hastings-Bass" jurisdiction in setting aside a flawed variation to a trust deed

In his ruling, Chief Justice Hargun outlined the two conditions that must be satisfied in order for the Court to intervene in a fiduciary's decision

Luxembourg Financial Center Proves Resilient in 2020 Despite Pandemic Headwinds

The Luxembourg House of Financial Technology (LHoFT) saw the number of FinTechs it hosts rise to 76, up from 67 the year before.

Ogier advises on the establishment of Rigtrain plc

Rigtrain plc possesses an extensive portfolio of courses which can be delivered on-board anywhere in the world

Cayman Islands Funds Update: Q4 2020

The regulations will improve the data collected from each regulated mutual fund by CIMA and will enable CIMA to enhance its regulatory oversight of the financial services sector.

Jersey Law - Taking Security Over Intangible Moveable Property

The ability to secure present and future intangibles with minimum formality through a single agreement

CSSF: UK deemed equivalent for the purpose of the national third-country regime under MiFIR

The scope of the regime itself is limited to Luxembourg – any future EU-wide passporting will depend on whether the European Commission issues an equivalence decision under MiFIR.

The US beneficial ownership law has its weaknesses, but it’s a seismic shift

Due to the limited scope of the Corporate Transparency Act and numerous exceptions in its application, we cannot yet conclude that the US is practicing effective beneficial ownership registration.

Bermuda Sanctions Regime Post Brexit

Prior to Brexit, the UK implemented sanctions via European Union decisions and regulations, which meant that Bermuda’s sanctions regime also mirrored that of the European Union.

Cayman Islands Update: Virtual Asset Service Provider Regime

The Act was introduced to align the Cayman Islands' framework with international standards for VASP regulation.

Caribbean Regulatory Update - Q1 2021

This Regulatory Update provides a snapshot of the key legal developments in the BVI and the Cayman Islands over the last quarter.

Guernsey businesses angry face repaying support

It is also open to the self-employed and sole traders, the States confirmed.

Companies warned not to breach rules

BUSINESSES are being warned to abide strictly by lockdown rules, after reports that some companies are breaching them.

COVID-19 and tax treaties: the updated OECD guidance

This guidance was updated on 21 January. It appears that the goal of the updated guidance is to suggest ways that governments can best address these tax treaty issues through legislation, regulations, guidance, and best practices.

Druces advises on Sharia’a compliant commercial property financing

Working with BLME and Hatstone on this transaction has been a pleasure.

Levies, Registration and All that Jazz

Failure to pay the annual levy is also an offence under the law and may attract sanctions including a financial penalty.

Carey Olsen supports RTP Global on launch of first Guernsey venture capital fund

The Carey Olsen team advising RTP Global on all structuring, formation and regulatory aspects of Fund III's establishment was led by partner Tom Carey

Guernsey Property Transactions - Clarification On Lockdown Guidance

The takeaway point is that Guernsey is in full lockdown

Regulation, Risk & Compliance