Managers of Wealth Offshore

The Anti-Money Laundering Act of 2020

Congress also increased penalties for violating the BSA.

Extension to Global Citizen Concierge Program

The annual fees are relatively low and a successful applicant will pay US$1,500 per annum for their Certificate (a fee which includes one dependant), with fees of US$500 for each additional dependant.

Revision of fiduciary regulatory legislation

The New Fiduciary Law will be complemented by revised rules, codes and guidance coming into force on the same day

Cayman improves technical AML compliance rating

Cayman already had a high technical compliance with the 40 standards, even as it was added to the FATF list of jurisdictions under increased monitoring in February 2021.

CYPRUS: The Ministry of Finance announces new measures to attract foreign investment and enhance business activity in Cyprus

The permits will be issued immediately within one month and will have a duration of up to three years.

FATF removes Mauritius from the list of jurisdictions under increased monitoring

The Mauritius International Financial Centre remains a competitive and attractive jurisdiction and a domicile of choice for structuring investments in Africa and Asia.

Cyprus to Revoke 45 Golden Visas Issued Illegally

Because of obvious irregularities revealed by the media and the subsequent criticism by Brussels, it was terminated in 2020.

Consultation to be held on change to the Probate Law

This would include items of personal property, such as cash, jewellery, clothes and furniture, where the total value is no more than £30,000

Apex Group signs sustainability partnership with Cricket West Indies

The partnership covers an initial a three-year period with Apex as CWI’s Exclusive Sustainability Partner.

Panama braces for ‘Pandora Papers’

ICIJ promises to reveal ‘most expansive expose of financial secrecy yet’

Jurisdictions under Increased Monitoring - October 2021

The FATF does not call for the application of enhanced due diligence measures to be applied to these jurisdictions, but encourages its members and all jurisdictions to take into account the information presented below in their risk analysis.

FATF Public Statement on Pandora Papers

The FATF has long warned of the dangers associated with networks of anonymous shell companies and legal arrangements.

JTC Acquires Due Diligence Services firm

This acquisition forms part of JTC’s ongoing strategy of continuously developing their well-established fund solutions capability to add true value to the expertise and services offered to clients.

SPACs: what should be included in a Luxembourg prospectus?

This Public Statement has been supplemented by specific guidelines issued by the Luxembourg Stock Exchange (LuxSE) in August 2021.

Funds & Investment Management Update- Ireland And Luxembourg- Q3 2021

The Central Bank's approach in relation to cryptoassets will be kept under review

Rule Against Perpetuities: Supreme Court Guidance

In considering the exercise of its discretion under section 4 of the RAPAA, the Court had regard to Bermudian jurisprudence concerning comparable legislative provisions and expressed its approval of the following principles:

Estate Planning: Certainty in Uncertain Times

In particular, consideration should be given to the creation of powers of attorney, enduring powers of attorney and heath care, or personal welfare, declarations as a part of proper estate planning.

UK Outlines Beneficial Tax Treatment For Asset Holding Companies

The enhancements to the UK fiscal framework will aim to capitalise on the UK's strengths

Fibre optic broadband for all Guernsey homes by 2026

The States of Guernsey is investing up to £12.5m into the £37.5m project, which was approved on Friday.

Collas Crill Advises on Authorisation of World's first tier one Bitcoin ETF

It is Jacobi’s intention to list the fund on Cboe Europe, one of the largest pan-European equity exchanges, subject to Financial Conduct Authority (FCA) listing approval.

Regulation, Risk & Compliance