07/17/2020
Allegations over offshore funds swirl around Spain’s former king
Recent reports in the British, Swiss and Spanish press have increased the pressure on the royal family.
Regulation, Risk & Compliance
07/17/2020
BVI Beneficial Ownership Secure Search System Is Best-In-Class
He stated, “Beneficial Ownership information in the system will also be available to other authorities in the Virgin Islands to ensure that they are able to meet their international obligations. Importantly, the system will not be accessible by the
07/17/2020
Switzerland and Malta sign protocol of amendment to their double taxation agreement
The cantons and the business circles concerned have welcomed the conclusion of the protocol of amendment.
07/17/2020
EFG considers leaving Guernsey
The bank has seen a significant turnover in staff
07/17/2020
Carey Olsen partners contribute Cayman, Guernsey and Jersey chapters to latest edition of International Estate Planning: A Reference Guide
It is also testament to our standing among offsore law firms in this practice area that Keith and I were chosen to provide both chapters for the Channel Islands and Bernadette was selected to do the same for the Cayman Islands.
07/17/2020
State Aid: Commission recommends not granting financial support to companies with links to tax havens
The aim of the recommendation is to provide guidance to Member States on how to set conditions to financial support that prevent the misuse of public funds and to strengthen safeguards
07/17/2020
Orders in Council coming for beneficial ownership registries
The issue of public beneficial ownership registries has been a longstanding issue between the territories and the UK.
07/17/2020
UK-EU agreement delay "is good news for Guernsey’s fund sector"
The island’s non-EU status and existing cooperation agreements means it will continue to be able to have access to market into Europe via the well-trodden National Private Placement Regimes (NPPR).
07/17/2020
Guernsey's Mandatory Disclosure Rules
There are practical steps that could usefully be taken now, including undertaking some internal due diligence, developing training and policies and procedures to identify Reportable Arrangements.
07/17/2020
The Bahamas is the highest placed non-European ship Registry on the Paris MoU White list
This excellent ranking on the Paris MoU White List follows on from the BMA’s recognition earlier in the year by the United States Coast Guard with its award of Qualship 21 status to the Registry.
07/16/2020
Tricor Welcomes New Laws That Amplify Hong Kong’s Role as Leading Asian Fund Hub
Hong Kong SAR has always been viewed as the regional headquarters by most Asian-focused funds.
07/16/2020
Ukraine aims to fight tax evasion with new law
Under this new law, Ukraine-based business owners will have to declare revenues from foreign assets, or they could face a steep fine on their income.
07/16/2020
Panama Papers, Swiss Leaks help authorities recover over €27m in unpaid taxes
The figure was confirmed by Finance Minister Edward Scicluna in two related parliamentary questions by opposition MP Claudio Grech.
07/16/2020
UK Government welcomes announcements by eight Overseas Territories to tackle illicit finance
Foreign Secretary welcomes the move by the Overseas Territories as a major step to improve corporate transparency.
07/16/2020
Benefits of Crown Dependencies trusts for Asian families
Ties between Asia and the Crown Dependencies have traditionally been strong
07/16/2020
Recent Amendments To The Private Funds Law 2020: Are You Now In Scope?
The Law has now been further amended by the Private Funds (Amendment) Law, 2020 which was enacted into law on 7 July 2020 (the 'Amendment') and this article has been updated to reflect the most recent amendments.
07/15/2020
Offshore laws glide through LA
Nevertheless, it needed to be changed to eliminate “ambiguity” over registration and Rivers said that these changes has also been run by the industry.
07/15/2020
New Cayman Islands fines and TIA offence
CIMA now has the power to impose significant fines
07/15/2020
Commercial Real Estate In The Cayman Islands: An Overview
The Q&A gives a high level overview of the corporate real estate market; real estate investment structures
07/15/2020
Bedell Cristin advises Munich Re on £1bn longevity swap for the Willis Pension Scheme
The £1 billion longevity hedging deal transfers the risk of pensions in payment, offering long-term protection against additional costs that arise because pensioners or their dependants live longer than expected.