Managers of Wealth Offshore

Switzerland looks to attract Alternative Investment Funds

It is expected that the bill will be presented to Switzerland’s parliament for discussion later this year and will not come into force before 2022.

Billionaire’s Malta assets under worldwide freezing order after Turkey coup arrest

Shipping mogul Mübariz Mansimov, arrested over Turkey coup and alleged Gulen links, has shipping empire based in tax-friendly Malta

Sant tells Brussels to safeguard consumer banking as COVID-19 shutters more branches

As banks move to digital, Alfred Sant questions the EU’s commitment in protecting essential banking services

GFSC-licensed fund at the centre of multi-million dollar dispute

The company's portfolio management services were provided by ACIS Capital Management G P (ACIS), on behalf of its general partner ACIS Capital Management LP (Acis LP).

Column: ‘Create A Culture Of Data Privacy’

The Proceeds of Crime Act in 2008, Anti-Terrorist Financing Act 2008 and International Sanctions Act 2003 [and its regulations] raised awareness among local companies about the importance of meeting international standards and introduced a culture of comp

Offshore structure with online operations in Hong Kong in the digital age – walking a thin line?

Typically, the offshore entity carries on business by way of a fully automated system, while its Hong Kong affiliate provides technical support, such as upkeep and adjustment of its proprietary software, and is remunerated on a cost-plus basis.

NetCents Technology Announces Advisory Board Addition

It involved a continuation of an on-going dialogue that began during a special FPC teleconference held on 10 April.

FCA consultation on extension of annual financial crime reporting obligation

Approximately 2,500 of the 23,000 firms we supervise under The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs) submit annual REP-CRIM information.

Cayman Grand Court departs from Hong Kong Court in dismissing Winding-Up Petition

On that basis, the Hong Kong Court found the balance of the debt to be due and owing and proceeded to wind-up the guarantor.

Security interests in the BVI

Creation of Security and Governing Law

Independent review of visitor accommodation financial support

The total amount of support to be provided to this sector between the payroll co-funding scheme for the July-September period and through the grant scheme for October-March is expected to be some £6.5m.

Cyprus Papers: secret migration of China’s rich, led by Asia’s richest woman, revealed in leaked documents

Chinese citizens may apply for permanent residency or citizenship in foreign countries, but obtaining citizenship abroad generally means losing Chinese citizenship

Migration of foreign limited partnerships into Jersey

This guide summarises the process for such a continuance

Bermuda gets ahead of COVID-19 costs

The government had to purchase medical supplies and equipment. It had to set up quarantine facilities.

Economic recovery plan ‘a matter of urgency’

Another strong area to build on is Bermuda’s position as an “innovative and well-regulated international financial centre”.

Chamber of Commerce View: Challenges and opportunities

As a result, many companies have introduced more flexible working patterns which, in many cases, will lead to property and other cost savings.

Guidance released on common scam attempts

These emails can often look authentic, and may claim that recipients are being offered a rebate for last year’s bills, notification of a new invoice, or that their email application has reached maximum memory and will begin deleting emails.

Market failure

Economist argues globalization has gouged the middle class, propped up elites and given rise to a dangerous brand of populism

Cyprus Denies New Allegations In “golden Passport” Scheme

Cyprus on Sunday denied fresh allegations that it was granting citizenship to foreigners accused of crimes in exchange for millions in investments, insisting that all those who received a passport met all criteria in place at the time.

Bermuda’s budget deficit to “significantly increase”: Curtis Dickinson

Dickinson noted that payroll tax had been $18.2 million higher than was estimated in the 2020/21 Budget.

Regulation, Risk & Compliance