Managers of Wealth Offshore

Appleby Isle of Man Celebrates 120th Anniversary

International law firm, Appleby, recently celebrated its 120th anniversary on the Isle of Man.

Italian AML rules capture providers of services related to the use of virtual currencies and custodian wallet providers

This provision thus seems to capture providers established in other countries but offering their services in Italy via distance communication means only.

New Mauritian rules facilitating cross-border insolvency proceedings

New rules facilitating cross-border insolvency proceedings came into force on 11 October 2019 and shall be deemed to have come into operation from 25 July 2019.

Jersey Schemes of Arrangement: Is it now time to decapitate the headcount test?

Practitioners in Jersey and many other jurisdictions who advise on creditors’ and members’ schemes of arrangement, will be very familiar with the practical challenges presented by the requirement for a majority in number of creditors or member

Latvian bank Trasta wins closure review in EU court ruling

The General Court of the European Union, the lower EU court, had previously ruled in 2017 that the case of the group of shareholders was admissible, but the ECJ, the EU’s upper court, said on Tuesday that the lower court had erred in its judgment.

Carey Olsen lawyers lead the way in data protection expertise in the Channel Islands

The introduction of the General Data Protection Regulation in May 2018 has led to an increase in both business

UK Supreme Court upholds first successful claim for breach of the "Quincecare" duty financial institutions owe their customers

As the Supreme Court noted, "very extensive powers were delegated to Mr Al Sanea to take decisions on behalf of the company, including signing powers over the company's bank accounts."

UK Supreme Court holds testamentary charitable gifts to Jersey were entitled to inheritance tax relief

The Supreme Court’s judgment provides helpful clarification for individuals in the UK who have made testamentary gifts to charities in Jersey by confirming that IHT relief applies.

Carey Olsen advises Permira on €11 billion buy-out fund

Tom said: "Carey Olsen has been privileged to work with Permira on the establishment of its Guernsey fund structures for some time and it was pleasing to see Permira VII prove to be yet another hugely successful fundraise for the firm."

Court Sanctions: Distribution Of Funds From A Liquidation Estate That Remains Subject To An Unresolved Proprietary Claim

The Applications were made ten years after SICL had been placed into liquidation.

Deadline Nears for Filings with the Central Register of Beneficial Ownership

As a further step in the roll out of the beneficial ownership regime for corporate bodies, the Central Register of Beneficial Ownership of Companies and Industrial and Provident Societies has been launched by the Companies Registration Office.

Collas Crill explains...financial records and statements for Jersey companies

Jersey is a popular place to establish an asset holding company because the Law is modern, flexible and modelled on English companies legislation.

Court thwarts bid to stop Satabank €1.5m release to 'dirty oil' suspect

Oil-smuggling suspect Gordon Debono has offshore companies with an account at Satabank, the monies of which have been frozen since the bank went under controllership

The Licensing and Regulation of Banks and Trust Companies in the Cayman Islands

Before proceeding with the incorporation of a bank or trust company in Cayman, clients are advised to consult their tax, legal and other professional advisers in their respective jurisdictions.

Initial enforcement of the Cayman Islands data protection regime

The Cayman Islands Office of the Ombudsman is the supervisory authority for data protection related matters and is responsible for enforcement of the Data Protection Law.

What To Expect From The New Wage Commision

It is possible that, in contrast to the minimum wage rate, the living wage rate could vary between different categories of employee and in different circumstances.

OECD releases guidance on the spontaneous exchange by no or only nominal tax jurisdictions

This information will allow the tax authorities of these jurisdictions to assess the substance and the activities of the entities resident in no or only nominal tax jurisdictions.

Investigation: UK accounting firms tied to alleged Kolomoisky fraud

And that may become a problem for Ukrainian billionaire oligarchs Ihor Kolomoisky and Hennadiy Boholyubov, who face a London civil suit alleging they used fake purchasing agreements and fraudulent loans to embezzle $1.72 billion from Ukraine into offshore

Carey Olsen wins Deal of the Year as it enjoys double success at The Deal's European awards

The Carey Olsen team was led by Jersey partner Guy Coltman, with partner Andreas Kistler leading on elements of the transaction involving the Jersey Royal Court.

A Timely Reminder To Professional Trustees Of Their Duties- A Caribbean Perspective

Collas Crill can assist with any queries related to new or existing trust structures, whether in the BVI or the Cayman Islands.

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