Managers of Wealth Offshore

Cayman further amends money laundering rules

The overhaul follows news that the Financial Action Task Force's report on the Cayman's efforts to tackle terrorist financing and money laundering would not be positive.

The financial services sector in the British Virgin Islands is set to soar

It is a tradeoff, so that's why we are excited

VI avoids EU blacklist, but remains on ‘grey list’

At least for now, the new economic substance law appears to have bought the VI time.

The Electronic Transactions (Guernsey) Law, 2000

A document in electronic form satisfies a legal requirement to retain such in hard copy form, and vice versa.

GFSC issues revised Handbook on Countering Financial Crime and Terrorist Financing

A small number of revisions have been made in response to feedback on the final draft version of the Handbook which was published on 12 November 2018.

Mauritius: A rising jurisdiction of substance and innovation by Graham Patrick

Mauritius has one of the highest per capita incomes within the fast-growing African continent.

Isle of Man govt proposes opening voluntary DC scheme for new starters

Minister for Policy and Reform, Chris Thomas MHK, said that there was “no silver bullet” to fix the issue.

Does your offshore structure have enough substance? by Nel Schoeman and Iris Harvey

The only thing that is constant is change.

Implementation of ATAD in Malta by Anjelica Camilleri de Marco

ATAD was enacted to prescribe common standards with a view to coordinating the implementation by EU Member States of the OECD’s BEPS action items, in particular by introducing principle-based rules in relation to interest limitation, controlled fore

Clarifications relating to combatting money laundering and terrorist financing - Ogier

This briefing focuses particularly on the anti-money laundering and combating the financing of terrorism (AML/CFT) provisions set out in sub-chapter 5.4 of the Circular.

IEA says attacks on tax havens undermine competition and privacy

It said that someone named on an overseas register will be labelled a “tax cheat” and “face the commercial and social risks attendant on that status”, exposing them “to the rule of the mob.”

Making the case for Guernsey trusts and foundations in Asia – Ogier team heading to STEP Hong Kong event

The newly announced change in PRC personal tax regime, increase in the divorce rate and migration overseas have all increased this.

Where The UK Fails On Anti-Money Laundering

Money laundering is a major threat in the United Kingdom, one some watchdogs say is not being taken seriously enough.

European Union in discord on blacklisting

The commission said The Bahamas had “strategic deficiencies” in its anti-money laundering and counter-terrorist financing legislation.

Avoiding Loan Charge Tax Is Doomed To Fail, Says HMRC

HMRC is now warning taxpayers expecting a loan charge bill that some advice firms are selling schemes offering ways to avoid paying the tax due.

Bermuda Blacklisting Expected to be Temporary - Conyers Dill & Pearman

We will continue to monitor the position closely and will assist you to manage and respond to any developments as necessary.

Navigating Bermuda's Economic Substance Regime

Bermuda was added to the EU’s list of non-cooperative jurisdictions for tax purposes on 12 March 2019.

Jamaica -Goverment's Tax Policy is ''Worsening Inequality''

“All taxpayers deserve a break! Government must spread the benefit to all Jamaicans, not just a few.

Cayman Islands Economic Substance Requirements For Certain Entities - Overview

Those who establish Cayman Islands structures do not generally do so to engage in BEPS activity; they do so because the Cayman Islands is an efficient, stable and trusted neutral hub with key expertise in handling complex transactions.

Taxman gets £1bn from Lehman administrators PWC

Lehman Brothers went bust in 2008 in the world’s largest corporate bankruptcy.

Regulation, Risk & Compliance