Managers of Wealth Offshore

Cross-border transactions face EU anti-money laundering overhaul

The demand for greater scrutiny over high-risk international transactions is not new for banks in the EU.

Bermuda Economic Substance Update – Key Amendments Enacted

Bermuda has passed amendments to its economic substance laws to more closely align Bermuda’s regime to that of other 2.2 jurisdictions.

Panama moves forward with beneficial owner register

This information will now be collected on the register, under the control of the Superintendence of Non-Financial Institutions.

Art and money laundering: The U.K. enacts new art laws and all buyers and sellers need to pay attention

Regardless of the jurisdiction, all art transactions carry risk.

Important Changes to the Bermuda Investment Funds Act 2006

The IFA Amendments are intended to further enhance Bermuda’s regulatory framework, primarily in relation to categories of investment funds that previously did not require any registration or regulation in Bermuda.

Arbitration of Employment Disputes: What Employers and Employees Need to Know

The use of arbitration varies between jurisdictions, but in general is less common in countries such as the UK where there is a dedicated tribunal system for employment claims.

Michael Edwards and Will Burnell sworn in as Advocates of Jersey's Royal Court

Will gained a law degree from the University of Durham, followed by completing the Legal Practice Course in York.

Panama: New economic substance requirements for offshore jurisdictions

Equally vital is for administrators of such entities to demonstrate that they have shown regard towards the legislation by resolving that their

Cross-border transactions face EU anti-money laundering overhaul

Attempting to stop the movement of illicit funds across international borders is one of the new text’s priorities

Bermuda-based captives increase cyber premiums by more than 50% in 2018

It also noted an overall increase in the number of captives on the island writing cyber coverage.

Bermuda Amends National Pension Scheme

The required vesting period has been shortened to one year from two years, with effect from 2 March 2020.

Guernsey to stay on Netherlands tax blacklist

By drawing up its own stringent blacklist, the Netherlands is once again showing that it is serious in its fight against tax avoidance,

Egrant inquiry uncovered ‘hidden’ Pilatus filing system

Bank wanted a ‘perfect’ report

Switzerland sends notices to Indians for trusts arrange in tax havens

The Cayman Islands-based trusts named in such notices come with The P Devi Kids’s Agree with, The P Devi Agree with, The Dinod Agree with and The Agarwal Circle of relatives Agree with.

Ready or Not, New UK Anti-Money Laundering Regulations Hit UK Art Sector from 10 January 2020

The newRegulations now take effect from 10 January 2020 and have major consequences for art market practices.

Black money probe: Tax haven trusts come under scanner for Swiss bank accounts

Several individuals who are suspected to have moved abroad after evading taxes back in India are being probed and their banking details are in the process of being shared by the Swiss authorities with their Indian counterparts

Central Bank of Ireland resists bid to up workload in EU money laundering fight

Bank objects to being made to gather the information the EU requires to combat illicit deals

Financial group: ‘Hundreds of millions of dollars missing’ from Cayman fund

While financial filings in the Philippines had put the sale price at about US$1 billion, the US discovery application said the widely reported exit amount for The Port Fund’s sale of the asset was only half of that amount.

Global Journalist: 'Panama Papers' Journalist Describes Sprawling Probe

Both the 'Panama Papers' and 'Paradise Papers' investigations of offshore tax havens and money laundering involved a global network of dozens of journalists working in six continents.

NIA Signs Loan Agreement with Taiwan to Support Small Business Activity on Nevis

Based on the cordial relations between our two countries we are very pleased to make available this loan, and I therefore want to encourage people in Nevis to make the most of it.

Regulation, Risk & Compliance