03/27/2019
European Parliament report accuses seven countries, including Cyprus, of acting as tax havens
Lawmakers said EU states should “phase out” as soon as possible all existing schemes to market citizenship and residency permits to wealthy foreigners. Currently 20 of the 28 EU states run these programmes.
03/27/2019
Bermuda sending team to Europe to discuss removal from EU blacklist
The EU released its updated blacklist, which is part of its strategy to clamp down on tax evasion and avoidance, earlier this month, featuring a number of new additions including Bermuda.
03/26/2019
The standard also includes a simpler, more efficient voting mechanism for creditors to vote their acceptance or rejection, meaning CACs are designed as a tool to make debt restructurings easier for all countries.
03/26/2019
‘Serious doubts’ on 17 Black probes
03/26/2019
More than half of managers say that they consider service levels to be extremely important and may influence a change of jurisdiction.
03/26/2019
Meanwhile, the amendment to the NPO regulations reduces fees for filing changes.
03/25/2019
Cayman Islands: Insolvency 2019
Full data is not yet available for 2018, but so far, no distinct trends are discernible in terms of specific industry sectors or economic cycles.
03/25/2019
Caymans' AML requirements still a bit up in the air
The legislation was introduced by the Cayman Islands Monetary Authority (CIMA) in 2018 as a result of the Financial Action Task Force (FATF)'s recommendations and the global clampdown on ineffective anti-money laundering processes across the world, h
03/25/2019
Don't delay! – Jersey's Royal Court rules that time is a factor in granting trust mistake discretion
Lincoln also advised that the trust deed should not contain the list of real beneficiaries and that an elderly relative who had emigrated from the United Kingdom many years previously should contribute the initial nominal trust fund.
03/25/2019
Swiss Trust Law: Federal Council to Draw Up Law on Swiss Trust
The Swiss attempt to codify the Trust law is a continued effort to not only maintain but to increase the attractiveness of Switzerland as a primary financial location for trust companies and for their clients.
03/22/2019
Panama Papers: What Are They and What Do They Say About Offshoring?
The Panama Papers changed the world. Here's how.
03/22/2019
The company pointed out that Bermuda is widely considered a world-leading offshore regulatory jurisdiction and is home to one of the largest reinsurance markets in the world.
03/22/2019
The first of these conditions is that the laws of the jurisdiction outside the Virgin Islands permit the continuation and the company has complied with those laws.
03/22/2019
If MPs do not support the withdrawal agreement then parliament has already said no deal should be taken off the table.
03/22/2019
"The Crown Dependencies have confirmed they will develop public registers of company beneficial ownership once it has been established as a global norm.
03/22/2019
The new agreement should help potentially affected taxpayers, such as cross-border workers and businesses with interests in both territories, structure their affairs and regularize their positions going forward.
03/22/2019
The list put forward by the CNPD does not consist of a comprehensive list of processing operations outside of which a DPIA would not be necessary
03/21/2019
After heavy industry lobbying, those rules were reworked in January
03/21/2019
It also found that Cayman authorities have failed to prosecute any serious money laundering cases
03/21/2019
To assist policy makers in assessing different implementation options, the toolkit contains policy considerations that Global Forum members can use in implementing the legal and supervisory frameworks to identify, collect and maintain the necessary benef