Managers of Wealth Offshore

‘No surprise visits’ to Pilatus bank

Reasonable suspicion of money laundering in Enemalta deal

Trust industry sees new prospects amid regulatory pressure

Speed of regulatory change a challenge but new opportunities in Asian markets

Amendments Passed In LA To Enhance Cayman's Financial Services Industry

These bills seek to provide clarification of what constitutes a beneficial owner and corporate service provider responsibilities in gathering, recording and filing such information with the Registrar of Companies.

‘Cyberattacks, biggest threat to African businesses’

It cited an African cybersecurity study by Demadiur Systems Limited, which revealed that banks, insurance companies and government institutions in Nigeria spent an estimated sum of $270.22m in 2018 to prevent cyberattacks.

EU citizens in Jersey facing four-month wait for settled status

Subject to criminality checks, they are either granted a Pre-Settled Status or Settled Status, depending on whether they have lived in Jersey for less or more than five years.

BVI to spend an additional $150,000 on economic substance legislation

Queen's Counsel Michael Furness was hired in October 2018 to draft this piece of legislation for the territory's financial services industry as it needed to meet EU requirements to avoid being put on a blacklist.

Eagle Re issues first mortgage ILNs with exchangeable note feature

The reinsurance covers Radian’s eligible mortgage insurance policies in January through September 2019, excluding single premium payment policies.

FPIs may skip Mauritius, Caymans

The development comes after the Securities and Exchange Board of India introduced new categorisation rules for FPIs in 2019.

Bermuda Is Planning a Comprehensive Crypto Ecosystem

Pitcher hopes to create a system that allows Bermudians to spend the digital currency they receive on government services and, in so doing, build a bridge to overseas economies.

Private Equity Fund Regulation In The BVI: Dawn Of A New Age Or Business As Usual?

We have a global network of experts on hand to advise clients who wish to alleviate the burden of understanding each offshore jurisdiction’s regulatory frameworks and requirements.

Netherlands delays beneficial ownership register

Under the original Bill, each corporate or other entity incorporated or founded in the Netherlands must obtain and register information on the persons who ultimately own or control them.

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.

Regulation, Risk & Compliance