Managers of Wealth Offshore

Fund finance: Guernsey perspective and updates

Often an acceptable approach is for a notice to be delivered to the corporate administrator acting for and on behalf of each investor

DeFi, DAOs and VASPs in the Cayman Islands

The industry interpretation of these regulations is such that a private sale would therefore not constitute a sale to the public.

The BVI Common Law After Broad Idea

Although it is the usual situation, there is no requirement that the judgment should be a judgment against the respondent.

A “sea change” in attitudes towards third party litigation funding in Jersey

These old offences of champerty and maintenance were first decriminalised in England in 1967.

FATF - Consolidated assessment ratings

FATF and FSRBs conduct peer reviews on an ongoing basis to assess how effectively their respective members' AML/CFT measures work in practice

Swiss Wealth Manager Urges Against Condemning the Wealthy in Response to Pandora Papers

Ralf Rickard Danbrandt of Ibex Capital Partners says the leak unfairly punishes innocent people and stresses that holding assets offshore is not illegal.

Central Bank in talks with RBC over move to discontinue issuance of $20 bills

As reported by Eyewitness News, the bank’s decision sparked major backlash on social media last week as many customers expressed their outrage and disapproval over the move.

Fund finance: Guernsey perspective and updates

Often an acceptable approach is for a notice to be delivered to the corporate administrator acting for and on behalf of each investor and the general partner of the fund to upload the investor notice to the fund's investor portal, and to then provide

What the Pandora Papers Reveal About Offshore Wealth

Using avenues not available to most people, they park money in trusts, shell companies and holding companies established in jurisdictions that typically offer low taxes and a high level of anonymity.

Malta Shouldn’t Bend Knee To FATF And Take Money Laundering Cases To The Extreme, Franco Debono Warns

Indeed, he noted that both PL and PN governments have previously launched schemes to incentivise people to regularise their tax positions.

Magistrate audited on ‘suspicious’ tax filings

Joe Mifsud faces a tax audit over suspicions of hidden wealth

Intertrust allowed to appeal CIMA’s enforcement action after deadline passed

CIMA had inspected Intertrust in 2017 and 2019 and identified a number of what it considered serious breaches of the Anti-Money Laundering Regulations.

ESG and Family Governance Models Explored in New Report

In particular, the report underlines the focus families are placing on developing clear and robust approaches to governance and reveals how enterprising families are increasingly aware that the management of their businesses, their investment strategies a

Cayman Islands Voluntary Liquidations 2021

Funds seeking to de-register from CIMA will also be required to complete a final audit in most instances.

Registration of overseas entities

There will be a new requirement for the Land Registry to enter a restriction on the title of land owned by an overseas entity

Guernsey discrimination law update: Where are we now?

In the interests of best practice, many employers already ensure equivalence of rights between Guernsey and the UK, and will therefore have anti-discrimination policies in place.

EU attacked over blacklist decision to drop three jurisdictions

Nine jurisdictions remain on the EU list of non-cooperative jurisdictions (Annex I): American Samoa, Fiji, Guam, Palau, Panama, Samoa, Trinidad and Tobago, US Virgin Islands and Vanuatu.

The Statement of Practice issued on 25 August 2021 clarifies the tax treatment of trusts and foundations established in Mauritius

Any trust or foundation may claim partial exemption on such categories of income specified in the ITA subject to satisfying the conditions prescribed relating to substance of their activities.

Passing the Golden Thread Through the Eye of a Needle - Observations on Recent Approach as Between Hong Kong and Offshore Jurisdictions

The application of such a power has resonated with similar common law jurisdictions globally.

External reserves hit $2.7 billion in August

The Central Bank also noted that its net purchase from the public sector slowed to $193.4 million, from $225.6 million in the previous year.

Regulation, Risk & Compliance