Managers of Wealth Offshore

EU Dirty Money Blacklist Released: Cayman Escapes, Bahamas & USVI Flagged

This blacklist is only one of a number of assessments the jurisdiction and other countries are facing.

Chief Minister outlines Brexit priorities in Westminster

The Minister for External Relations and I will continue to meet with colleagues in Westminster to ensure that this positive dialogue continues.”

Freeport Accused of Shadiness, says it surpasses EU rules

Luxembourg faces competition from larger freeports inside the EU, such as those in Barcelona and Shannon, and outside the bloc, like those in Geneva and Singapore.

Cayman Islands: Pensions Department chastised for its poor record keeping

The Department of Labour and Pensions initially refused the entire request, and later made some records available during the appeal process.

Economic substance requirements in Bermuda, the British Virgin Islands and the Cayman Islands

The legislation was introduced in response to concerns expressed by the Council of the European Union about the absence of clear general legal substance requirements for entities doing business in and through these jurisdictions.

Proof of debt appeals: The Court's approach to a challenge to an Official Liquidator's adjudication

Unusually for a proof of debt appeal, the appeal proceedings were ongoing for around 18 months

The Cayman Courts: Respected and robust

One of the ways in which these provisions operate is that, if foreign matrimonial proceedings seek to encroach on the administration of a Cayman trust, the trustee of that trust is protected in many respects.

Commentary — VI lawyer blasts EU threats

We are now in a world dominated by knee-jerk reactions and disproportionate responses.

Caribbean citizenship dreams in jeopardy?

Allegations of fraud fly thick as hundreds of applicants from GCC seek second passports

Aleema Khan deposits 25pc of tax: FBR chairman

Talking to journalists, the FBR chairman said that Aleema Khan had assured to submit the remaining amount of tax in installments.

An offer too good to refuse?

Not unexpectedly, three issues that attracted the greatest concern were offshore accounts, acceptance in good faith by revenue and additional information from third parties.

1MDB hunt spells trouble for Big Four auditors

Asian Strategy and Leadership Institute’s Centre for Public Policy Studies chairman Tan Sri Dr Ramon Navaratnam said Malaysia should go “all out” to make those who had conspired in 1MDB accountable.

Denise Voss, the American helping Luxembourg run its money

Alfi chair says Brexit is mostly ‘lose-lose’ not least because UK has been an EU ally

Offshore Tax Haven To Ease Cannabis Laws (Isle of Man, In Case You Were Wondering)

Multiple consultations are being launched over the next six weeks; one will ask if access to cannabis for medicinal purposes should be widened.

Luxembourg issues a bill of law on Brexit

The proposed amendments to the primary legislation relating to the financial markets being proposed by the Bill are summarised below.

GFSC open to cross-border testing for new financial services products

Regulators will individually be responsible for deciding whether proposals meet their criteria and ensure appropriate safeguards in their jurisdiction.

HMRC allowed to request documents from person abroad says Court of Appeal

There are fines for failing to comply with a notice, and criminal offences for destroying or tampering with documents.

Cayman Islands: Anti-Money Laundering Audits Required For Securities Investment Business Excluded Persons

The Guidance Notes provide, amongst other things, that financial services providers should, on a regular basis

Changes to the Guernsey AML/CFT Handbook

The GFSC has announced that in anticipation of the changes to the law it has already begun adopting the new rules to allow for technical issues which could lead to complications once the law is in force.

New Legislation Changes Legal Landscape in The Bahamas

The following Acts are significant pieces of legislation that introduce changes to the legal landscape in The Bahamas

Regulation, Risk & Compliance