Managers of Wealth Offshore

US Treasury rules FBME ‘still a money laundering concern’

The CBC took over the operations of FBME in 2014 after the latter was named a “financial institution of primary money-laundering concern” FinCEN.

MoU sees Guernsey's fund industry agree closer ties with China

The British Private Equity & Venture Capital Association's Channel Islands Working Group was also a signatory to the MoU and will enjoy the benefits that come with closer ties.

St Kitts-Nevis citizenship unit stronger after necessary reforms, says PM

Harris proceeded to list several new features and improvements introduced by his government.

Disclosure of Beneficial Owners of Foreign Companies Holding UK Property

Whilst the main aim of the proposal is to tackle crime, corruption and money laundering it is quite likely that one of the aims is to collect beneficial ownership information so that the new rules in relation to UK Inheritance Tax for residential properti

Brazil joins the Caribbean Development Bank

This became effective on December 31, 2015, following a process that began with Brazil’s application to membership in 2007 and its acceptance by the CDB Board of Governors in 2008.

Bank of China targets Africa with Mauritius banking licence

Bank of Mauritius Governor Ramesh Basant Roi told reporters on Friday the bank was expected to start operations in the next few months but did not give a date.

The resurgence of Special Purpose Acquisition Companies - Ogier

Following the SPAC’s IPO, the funds raised, net of the underwriters’ compensation and money required for working capital, will be placed in an escrow account to fund the SPAC’s eventual Business Combination.

Jersey/UK tax amendment proposed

The agreement of this protocol demonstrates the UK’s and Jersey’s joint commitment to working together to counter tax avoidance and evasion."

Plans for major bank shake-up

These changes affect only the largest banking groups worth £25bn.

UK extends women’s rights treaty to Cayman Islands

Countries that have ratified CEDAW are legally obligated to work towards implementing its provisions

CRS - What Clients Really Need to Know by David Inglesfield, Asiaciti Trust

In summary, CRS is happening with extraordinary speed. It is most important that clients accept that it is; take good advice and structure their affairs properly; and if they wish to choose a new country of tax residence, actually move there and get a cer

Cayman Finance welcomes CIG/UK beneficial ownership meeting

This as Mr Scott pledged that Cayman Finance will continue its work with the Ministry of Financial Services, and other local stakeholders, “to further evolve and enhance Cayman’s strong regime.”

Cayman Finance welcomes positive discussions on Beneficial Ownership with the UK

Cayman Finance worked closely with the Ministry of Financial Services in preliminary discussions

Key points for lenders and borrowers: snapshot of changes to BVI law in 2015

The following are the key developments to BVI law that are most likely to interest lenders and borrowers.

Cayman Islands Monetary Authority: Supervisory Issues & Information Circular

It also stresses the minimum requirements CIMA expects to see in a well-functioning AML/CFT programme.

Jersey Deal Activity Sees Five Years Of Growth

Jersey deal value rises 26 percent in 2015, Appleby report finds

Litigation: Skype messages show Caledonian’s trading activity in penny stock frauds

Hinting at potential criminal charges for those involved, the SEC says the documents “will also prove beneficial to the ongoing law enforcement investigations of these matters and others.”

Isle of Man Common Reporting Standard Draft Guidance Notes Published

The Income Tax Division have confirmed that they are in contact with the OECD in order to confirm a number of areas where there is still uncertainty in the CRS with a view to updating the guidance notes in due course.

Busuttil gives Muscat 24 hours to ‘shoulder responsibility’ for Panama offshore companies

Opposition leader hints at motion of no confidence unless Muscat shoulders political responsibility over the next 24 hours

IFC Forum criticises US over Common Reporting Standard

Over 90 jurisdictions have agreed to implement CRS: the latest standard by which governments automatically exchange financial account information to prevent tax evasion.

Regulation, Risk & Compliance