Managers of Wealth Offshore

FATF keeps Panama and Bahamas on the grey list and adds Iceland

The global body said Panama had taken steps to improve its cooperation in the fight against money laundering, but that it needs to do more to be removed from the grey list.

Collas Crill Explains....Continuing a Company to Jersey

In Jersey, the process by which a company changes its nationality or place of incorporation is called a continuance.

Guernsey continues to develop China’s captive market

Another distinguishing factor is the existing co-operation agreements between Guernsey and China.”

Reinsurers failing to help insurers manage cyber exposures, warns Hiscox Re

Page called for more capital efficient products to ensure insurers can keep up with demand for cyber coverage, calling on ILS investors to step up - and quickly.

First Central Group repeats MoneyAge win

The MoneyAge Awards celebrate excellence, professionalism and innovation in the personal finance space.

UK extends WTO membership to Channel Islands

As Crown Dependencies, under international law they are territories for which the UK is responsible

Isle of Man VAT Report Published

The Isle of Man Government invited HM Treasury to carry out a review of its VAT rules

British Virgin Islands: Economic substance rules published

The ESA imposes economic substance requirements on BVI companies and limited partnerships with legal personality that are engaged in “relevant activities,” unless they are considered nonresident for the purposes of the ESA.

Jersey Finance launches New York office

The launch event, held at The Peninsula New York on 16 October

Guernsey: Details on introduction of mandatory disclosure regime announced

Disclosures will be required to be made within 30 days of the date an intermediary makes a CRS avoidance arrangement

Guernsey: Guidance on economic substance information required in company tax return issued

All companies that generate income from undertaking a relevant activity will be required to provide details of the net book value of tangible assets held as at the balance sheet date.

Jersey: Consultation on introduction of mandatory disclosure regime launched

Revenue Jersey would exchange the information reported with relevant jurisdictions where it is able to do so pursuant to its network of bilateral information exchange agreements.

Costa Rica Clarifies Amendments To Non-Cooperative Tax List

The Ministry said that exclusion of any of the territories from the decision would amount to an arbitrary interpretation of the rules for placement on the list.

Cayman Islands Perpetuity Periods and the “Royal Lives” Clause

The rule against perpetuities prevents people from using legal instruments (such as a trust deed or will) to exert control over the ownership of property for an extended or indefinite period of time.

The Rules On Economic Substance In The British Virgin Islands.

The changes to the Draft ES Code as reflected in the new Rules are mainly stylistic.

Equiom Announced as Master Trustee for DIFC Savings Scheme

The scheme is due to launch in January 2020 with Equiom as the Master Trustee and Zurich serving as the administrator for the scheme.

Central Register of Beneficial Ownership of Corporates-An-Update-Ireland

On 29 July 2019 the Central Register of Beneficial Ownership of Companies and Industrial & Provident Societies ("Central Register") opened for filings.

The Future Of Financial Services In The Turks And Caicos Islands

The afternoon breakout sessions will provide engaging and enlightening discussions around the industry.

Luxembourg Update: CSSF Mandatory Notifications October-2019

On 11 October 2019, the Commission de Surveillance du Secteur Financier issued a press release in relation to Brexit.

The Crown Dependency of Guernsey: Constitutional Insights

This is a substantive academic issue in its own right but the purpose of this note is to clarify the key facts and issues surrounding this topic.

Regulation, Risk & Compliance