Managers of Wealth Offshore

Highlights of economic substance guidelines

The aim of the guidelines is to assist in determining whether entities are within the scope of the requirements of the economic substance legislation and regulations

Registered persons under the Securities Investment Business Law

The Law applies to companies, limited liability companies, foreign companies, partnerships or limited liability partnerships incorporated or registered under the laws of the Cayman Islands

Rights to inspect: The 'Proper Purpose' Test

Following consideration of decided case law , the court dismissed the application on the basis that Houldsworth had failed to establish that the purpose to inspect the register of members was improper.

Ogier advises gaming operator on £490 million software developer takeover

The consideration for the transaction comprised of cash and new JPJ shares.

International tax reporting changes: Directive on Administrative Cooperation 6 and the Mandatory Disclosure Rules

The regulations require ‘intermediaries’ and, in some circumstances, taxpayers to report details of cross-border arrangements to HMRC

Cayman Islands: Adjusting the Rights of Shareholders Amongst Themselves

Privy Council Provides Guidance, But Questions Remain

INSIGHT: U.K. Final Regulations for Disclosure of Cross-Border Tax Arrangements

The U.K. government has published the final regulations to implement DAC 6. Catherine Robins of Pinsent Masons takes a look at the provisions in the regulations and their implications for business.

Regulatory Regime For Closed-Ended Funds In The BVI

These came into force on 31 December 2019.

Utah Bill Would Cut Foreign Income from State Tax Returns

It was designed to discourage multinationals from shifting profits offshore through intangible assets such as patents and trademarks.

Venezuelan congress approves $20 million for foreign litigation

Lawmakers from the First Justice opposition party objected to the measure on the grounds that it did not clearly identify what cases would be financed.

Everest launches professional liability programme for small law firms

Matt Miller, Embroker’s chief executive officer, said the partnership allows the brokerage “to streamline all aspects of the insurance buying process,” while helping clients manage their risk.

Cayman Islands to require “4(4)” funds to register with CIMA and obtain local audits

Once the Bill is passed and in force, there will be a six month transition period within which existing 4(4) funds will need to make any changes to their operation

Seychelles offshore blacklisted by France

The international community is today questioning the delay that is aggravating the loss of respect for Seychelles by the business community with interests in the islands.

Deutsche Bank payments to Saudi royal adviser probed

German prosecutors investigate two former employees for suspected bribery

Gibraltar regulator says local businesses will pay 12% Brexit levy

The levy will not apply to companies from these sectors that do not passport into the UK, the GFSC added.

Jersey could scrap 'only husbands talk tax' rule

Currently, married woman can only discuss her taxes with government if spouse says so

Will a regulatory shake-up see market quality improve?

Regulatory hurdles were less strict and while this arguably went against the spirit of the legislation, it enabled those counterparties to be remunerated on legacy terms.

More than £5 billion secured after crackdown on multinational companies diverting profits

The extra tax is due to reforms introduced in 2015 to tackle profit diversion.

New regulatory regime for closed ended funds in the British Virgin Islands

A private investment fund is defined in the Amendment as a company, partnership, unit trust or any other body that is incorporated, registered, formed or organised under the laws of the BVI

CySEC press release and policy statement on investment-based crowdfunding rules

In turn, the policy statement summarises the feedback received in response to the Consultation Paper and sets out CySEC’s final position on the subject matter.

Regulation, Risk & Compliance