Managers of Wealth Offshore

Deutsche Bank pulls the plug on Malta

Deutsche Bank has come under intense regulatory scrutiny across the globe over its processing of dirty money, some of which came about as a result of its correspondent banking relationships.

GFSC proposes financial crime updates

A short memorandum and redlined draft of Chapter 17 of the Handbook outline the proposed changes.

The Non-Resident Landlords Scheme

If your clients have entities with UK property which is generating rental income, they should ensure that appropriate returns are filed and tax paid by 31 January 2020.

Bermuda Expands Licensing Regime to Include Digital Assets Derivatives

The DABA Amendment extends the scope of digital asset business activities that are captured under the Digital Assets Business Act, 2018

HSBC to close eight branches across Malta

The bank also announced "subject to MUBE agreement, a reduction in roles within the organisation on a voluntary basis".

Virgin Islands approves budget that doesn’t address pension gap

It was largely like the budget he proposed to the Senate in late May.

Considerations for terminating registration of your Cayman Islands entity before 2020 fees and filings are due

The strike off method is best suited to an entity that is inactive with no assets, liabilities or creditors.

Cayman Signals Willingness to Abandon Corporate Secrecy – But Not Yet

Pressure on tax havens to abandon corporate secrecy follows several large data leaks

Cayman Islands joins global money-laundering crackdown

Anti-corruption campaigner Global Witness said all other British Overseas Territories should take similar action.

Escrow Agreements in Merger and Acquisition transactions – here’s what you need to know

Escrow arrangements help to minimise the counterparty risk of non-completion or failure to deliver for each of the parties.

Midshore starts US operation

Midshore USA aims to replicate the service lines offered in Guernsey

Goodbye Active Optimus, Hello Aspida.

The shade of green was chosen to reflect growth, with the strapline of the brand clearly setting out the ethos of the relationship it strives to have with clients – ‘your partner in protecting and growing your business’.

The Crown Dependency of Jersey: 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.

Chambers Global Practice Guide 2019: Doing Business in Ireland Trends and Developments Chapter

Among other topics, the authors discussed how Ireland is well positioned as a location of choice for UK companies and new entrants seeking access to the EU post-Brexit.

New Sebi rules to hit Mauritius and Cayman Islands hard, says report

Financial centres like Mauritius, Cayman Islands and Cyprus are not FATF members. FATF is an inter-governmental policymaking body which was set up at the 1989 Paris summit of G7 due to increasing concerns over money laundering.

Procurement law under review

Prospect MLA Austin Harris took aim at the lengthy delay from the passage of the bill in 2016 and the completion of the regulations in 2018 to bring it into force.

The tangled web of drafting offshore wills

Added layers of complexity in dealing with multiple jurisdictions has coincided with South Africans increasingly externalising some of their assets.

KYC Laws in the Cayman Islands

Justice Kawaley found the Court had no statutory power to order Fortunate Drift to provide Canterbury with the KYC information it had requested following a change in the beneficial ownership of Fortunate Drift.

Intermeddling - Second bank fined for contravention of Probate Law

These cases illustrate the dangers of intermeddling with an estate and the seriousness with which the Royal Court treats such breaches.

ESAs highlight money laundering and terrorist financing risks in the EU financial sector

The ESAs are concerned about weaknesses in the control frameworks put in place by financial institutions

Regulation, Risk & Compliance