Managers of Wealth Offshore

Tax crackdown threat for Business Licence renewal

By better matching business tenants to their commercial landlords, the tax authorities’ goal is to detect those among the latter who lack the necessary Business Licence

Feds issue warning over cryptoasset risks

It caused a near domino effect that saw more than 100 linked companies file for bankruptcy or suffer heavy losses.

Gov’t pledges law change over its $233m borrowing

Combined with total issued Treasury Bills, and securities issued or guaranteed by the Government and its corporations, total outstanding loans to the former by the Central Bank cannot exceed 30 percent of the Government’s “average” or &a

Watchdog punishes investment firm’s “serious” failings

90% of its clients were deemed to be high-risk wealthy individuals from, or linked to, jurisdictions known to foster money laundering, terrorist financing, bribery, and corruption.

Continuation by a BVI company to a foreign jurisdiction

This process is sometimes referred to as a corporate migration, redomiciliation or transfer of place of incorporation.

Legislative Clarification on the Luxembourg Reverse Hybrid Entity Tax Rule with Retroactive Effect

The rule now requires that the double non-taxation outcome resulting from the reverse entity must only be due to the mismatch classification of such entity.

Data protection registration and renewal window opens

The annual registration fee is based on the number of ‘full-time equivalent’ staff in each organisation and is unchanged from last year

Bahamas regulator has seized $3.5 billion of FTX assets

The regulator seized the assets under a court order on 12 Nov. because of a risk of “imminent dissipation” of the assets, the commission’s executive director Christina Rolle said in an affidavit filed with the Bahamas Supreme Court.

Natwest responds to bank fraud cases

Where customers have not supplied any card details, reported cases of plastic card fraud will be refunded in full.

New requirement - Advertising for Cayman Islands temporary work permits

Generally speaking, anyone wishing to work in the Cayman Islands must first obtain permission to work, unless they are Caymanian.

Bank fined €310,000 for failings on anti-money laundering laws

ECCM did not indicate where a transaction of €100 million came from

Central Bank warns merchants over point of sale scam

Near Field Communication is a form of radio-frequency communication (RFID) that allows for communication between two electronic devices – close proximity wireless data transfer.

Ten percent cost cut for digital payments planned

Sun Cash will leverage the Lotus Reward programme to bring in more customers into its Sand Dollar wallet, so they can grow their base.

Central Bank wants stricter due diligence to stop another FTX

In its newly released guidelines, the bank is asking for the risk management framework governing digital assets activity to be fully integrated into the overall risk management processes of the supervised financial institution (SFI).

Central Bank releases digital asset use guidelines for SFIs

The former executives of the cryptocurrency exchange have been charged with multiple counts and types of fraud.

Bahamas regulator holds FTX assets pending delivery to customers, creditors

“All transferred assets were and remain under the sole control of the commission,” Rolle said.

Maiden Announces the Successful Completion of the Conversion of its Preferences Shares, Series A, Series C and Series D for Common Shares

As a result of the Exchange, the Preference Shares were delisted from the New York Stock Exchange on the Exchange Date.

Bahamas now largely compliant on all 40 FATF recommendations

The Bahamas has been in an enhanced follow-up process, following the adoption of the CFATF mutual evaluation report, which assessed the effectiveness of The Bahamas’ anti-money laundering and counter-terrorist financing (AML/CFT) measures and the co

St Kitts & Nevis introduces raft of changes to its Citizenship by Investment Programme, benefits ...

Today marks a new era for the investment immigration industry as we boldly declare that a clear strategy will drive our Citizenship by Investment Programme with the sole purpose of benefiting our people and investors who want to see our nation flourish.&a

Central Bank and SVB in disagreement about supervisory costs

The ruling explains that, according to the law, the supervisor must keep an overview of the activities performed in the context of the supervisory tasks.

Regulation, Risk & Compliance