10/23/2019
Kingate Funds obtain Chapter 15 recognition
The Mourant team also worked closely with Robert Loigman, Scott Shelley and Lindsay Weber, of Quinn Emanuel Urquhart & Sullivan LLP, on obtaining Chapter 15 recognition.
Regulation, Risk & Compliance
10/22/2019
Irish Finance Bill 2019 - Update for International Investors
The Irish Finance Bill 2019 was published on 17 October 2019 and contains a series of legislative tax measures.
10/22/2019
New tax change in Luxembourg on advanced rulings granted before 1 January 2015
In recent years, when the tax administration tried to deny the application of a tax ruling, the Luxembourg courts have consistently applied the "Collart test" in order to assess if the tax authorities were bound by the agreement given.
10/22/2019
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.
10/22/2019
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.
10/21/2019
Guernsey continues to develop China’s captive market
Another distinguishing factor is the existing co-operation agreements between Guernsey and China.”
10/21/2019
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.
10/21/2019
First Central Group repeats MoneyAge win
The MoneyAge Awards celebrate excellence, professionalism and innovation in the personal finance space.
10/21/2019
UK extends WTO membership to Channel Islands
As Crown Dependencies, under international law they are territories for which the UK is responsible
10/18/2019
Isle of Man VAT Report Published
The Isle of Man Government invited HM Treasury to carry out a review of its VAT rules
10/18/2019
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.
10/18/2019
Jersey Finance launches New York office
The launch event, held at The Peninsula New York on 16 October
10/18/2019
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
10/18/2019
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.
10/18/2019
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.
10/18/2019
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.
10/17/2019
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.
10/17/2019
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.
10/17/2019
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.
10/16/2019
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.