Managers of Wealth Offshore

COVID-19: Competition law

Whilst it remains to be seen if the separation of CICRA from 1 July 2020

Guernsey Planning Service confirms position remains unchanged on expiry dates for planning approvals

There are many reasons why a development may not have been started but one of those reasons is that certain planning conditions or building control requirements may have to be satisfied before development can commence.

International Tax Co-operation (Economic Substance) Regulations 2020

The Authority will use this information to determine whether the Relevant Entity in question satisfies the economic substance test under the law (the "ES Test").

O’Neal Webster Advises on JPY 3.8 billion British Virgin Islands Plan of Arrangement

The O’Neal Webster team was led by corporate partner Christopher Simpson and litigation partners Nadine Whyte-Laingand Dan Wise

Branson offers Necker as collateral

He claimed to have created “hundreds of thousands of jobs and paid hundreds of millions in tax” around the world.

Patience urged on pension withdrawals

Thousands seek info, new withdrawal form released

Eastern Caribbean Supreme Court Adopts Measures For Alternative Effect Of Service On BVI Business Companies

These changes will be in effect until the Chief Justice so directs.

Ireland Update: Sustainable Finance DEvelopments

Notwithstanding the impact of the COVID-19 pandemic, April 2020 saw several significant steps as the EU continues to push a harmonised framework for sustainable finance.

Republic of Ireland becomes African Development Bank Group 81st shareholder

Ireland’s Strategy for Africa 2025 includes a commitment to collaborate with the critical financial institution on the continent

BVI CBCR Reporting System And Fatca / CRS Deadlines Extended

The BVI ITA announced it is accepting electronic CbCR filings and FATCA / CRS deadline extensions.

Ashburton Investments enhances fund administration through JTC partnership

This follows a review of Ashburton Investments’ operating platform to better meet the needs of the group’s global client base.

EU to beef up scrutiny of money-laundering risks, adds Panama to list

The revised money-laundering list, expanded to include 22 from 16 states, is set to take effect from October.

Malta's regulator publishes list of unlicensed digital currency firms

The island is known for its pioneering approach to fintech

France becomes latest country to ban companies registered in offshore tax havens

Of France’s €110 billion package, four billion has been reserved for struggling startups, while €20 billion is being kept for larger firms, such as Air France.

BDO Guernsey acquires Cerberus

“We are excited to integrate our approaches and to broaden our advisory services to clients.”

Guernsey regulator fines wealth company directors £60000

Following consideration of the investment advice in the client files, the Commission noted that CWM was advising on and promoting Structured Notes

Economic Vision Must Go Beyond Restarting

It is important that these lessons are considered by policymakers and incorporated into the National Development Plan (NDP).

The intermeddling offence in Jersey: revised guidelines issued

Unlike the UK, Jersey imposes criminal liability on those who intermeddle in relation to a deceased's 'movable estate' (i.e. personal or movable property). Article 23(1) of the Probate (Jersey) Law 1998 sets out the offence:

The key role of compliance in business continuity

Compliance is central to our client’s success and working with service providers that can set up structures quickly, efficiently and within the limits of the local and global legislation and regulation is a key requirement.

Cayman Government proposes framework to regulate crypto services

The Cayman Islands would be one of the few countries in the world to adopt such a cutting-edge framework that is in alignment with global regulatory standards.

Regulation, Risk & Compliance