08/28/2020
Changes to Guernsey's beneficial ownership regime
The States of Guernsey has approved proposals to amend the legal framework relating to beneficial ownership.
Regulation, Risk & Compliance
08/28/2020
Carey Olsen Bermuda's Keith Robinson among Transcontinental Trusts speakers
Carey Olsen Bermuda partner Keith Robinson is a panellist on the global litigation session on day one of the Transcontinental Trusts International Bermuda Conference.
08/27/2020
Further review of IHT by the APPG
The APPG paper proposes comparatively radical reforms to a system that it describes as having been criticised as complex, ineffective, riddled with anomalies, distortionary and unfair, unpopular and ripe for reform.
08/27/2020
Government of Bermuda choose Ocorian as listing sponsor for US$1.35 billion BSX debt listing
Ocorian Securities (Bermuda) Limited was both part of the working group advising on the deal and the listing sponsor, chosen because of our proven track record and experience working with the Government on prior loan note issuances.
08/27/2020
Wealthy Nigerians are buying up passports for cash from Caribbean nations to beat visa rules
With around 40,000 passports believed to have been issued through investment migration programs globally, citizenship by investment is now estimated to be a $3 billion industry.
08/27/2020
Brexit Update: VAT and the Isle of Man
The Isle of Man has never been a member of the EU, despite the words ‘European Union’ emblazoned on Manx passports, but has had a unique relationship with the bloc due to its VAT and Customs agreement with the UK.
08/27/2020
Prospects for the future, Guernsey and elsewhere
The States is pursuing a Revive and Thrive strategy to restore the island’s economy which has been devastated by the Covid-19 pandemic.
08/27/2020
Bermuda Government raises $1.35bn in BSX bond issue
The BSX is experiencing increasing interest from the issuers of international debt securities and debt capital markets which is driving momentum in our listing support services.
08/27/2020
Boosting Mauritius’ reputation as a key enabler of trade
John Félicité, Business Development Director joined Global Trade Review's virtual roundtable to discuss the island nation's progress.
08/26/2020
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.
08/26/2020
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
08/26/2020
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
08/26/2020
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).
08/26/2020
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
08/25/2020
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.
08/25/2020
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.
08/25/2020
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.
08/25/2020
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.
08/25/2020
Security interests in the BVI
Creation of Security and Governing Law
08/25/2020
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.