Managers of Wealth Offshore

Spotlight on The Bahamas

The Bahamas will be top of mind for you,” McCartney remarked to an audience that featured a range of service provider and fund management professionals.

BIR wants crackdown on offshore gaming firms

They allowed us to join the task force because we are asking data from Immigration and DOLE on the list of these foreign nationals,” Guballa said.

€17bn pension provider vows to scrutinise firms over tax payments

Fels pointed out that some of PenSam’s members worked its social and heath assistants in a tax-financed welfare sector.

Panama Papers ‘tightened the noose’ on offshore assets of Maduro’s inner circle

In the wake of the scandal, it became harder to launder money through investment in Panamanian real estate for Venezuelans who grew rich on the back of their political connections

Landmark Deal Signed for Redevelopment of New Providence Landfill

The team on this transaction was led by partner, Portia Nicholson

Govt exploring ‘outreach strategy’ with EU on blacklisting

European Union stresses objective of listing process is not to ‘name and shame’ countries

Future of work summit puts Guernsey on the global stage

The event will focus on how to maximise productivity in the workforce as technology develops, as well as understanding the changing face of the workplace and workforce.

Optimism that amendments to Act will satisfy EU requirements

McCartney said the government was indeed active in fine-tuning the amendments.

Pm Urged: ‘Get Offensive’ To Reclaim Local Economy

He argued that the domestic sector, operating solely in Bahamian dollars, was of little to no use to money launderers and other financial criminals

Govt In Late Anti-Blacklist Law Changes

It thus appears that the EU was dissatisfied with parts of the Act passed in early December 2018, and that The Bahamas was in danger of being re-blacklisted if it failed to adjust the legislation to its satisfaction.

Recent IRS Interim Guidance Provides That It Is Not Too Late For Your Willful Clients To Voluntarily Disclose Their Offshore Accounts, But Penalties Abound

As all good things seem to come to an end, in late September 2018 the OVDP sunsetted.

Government signs deal with small business group

The Small Business Association has been a champion for small business owners and I am proud to support the association in its efforts to assist small businesses.

EU Dirty Money Blacklist Released: Cayman Escapes, Bahamas & USVI Flagged

This blacklist is only one of a number of assessments the jurisdiction and other countries are facing.

Chief Minister outlines Brexit priorities in Westminster

The Minister for External Relations and I will continue to meet with colleagues in Westminster to ensure that this positive dialogue continues.”

Freeport Accused of Shadiness, says it surpasses EU rules

Luxembourg faces competition from larger freeports inside the EU, such as those in Barcelona and Shannon, and outside the bloc, like those in Geneva and Singapore.

Cayman Islands: Pensions Department chastised for its poor record keeping

The Department of Labour and Pensions initially refused the entire request, and later made some records available during the appeal process.

Economic substance requirements in Bermuda, the British Virgin Islands and the Cayman Islands

The legislation was introduced in response to concerns expressed by the Council of the European Union about the absence of clear general legal substance requirements for entities doing business in and through these jurisdictions.

Proof of debt appeals: The Court's approach to a challenge to an Official Liquidator's adjudication

Unusually for a proof of debt appeal, the appeal proceedings were ongoing for around 18 months

The Cayman Courts: Respected and robust

One of the ways in which these provisions operate is that, if foreign matrimonial proceedings seek to encroach on the administration of a Cayman trust, the trustee of that trust is protected in many respects.

Commentary — VI lawyer blasts EU threats

We are now in a world dominated by knee-jerk reactions and disproportionate responses.

Regulation, Risk & Compliance