Managers of Wealth Offshore

Harneys closes two Hong Kong pharmaceutical IPOs

It was one of the top ten private traditional Chinese medicine healthcare service providers in China in 2020.

Ogier's real estate team act for lender in financing of Jersey's IFC6

Finance firm Aztec has confirmed it will lease 75% of the 68,000sq-ft office building, the construction of which is due to start immediately and with proposed completion targeted by November 2023.

Massive money-laundering probe heartens anti-corruption activists but fails to lift Pandora Papers’ pall over Seychelles

The African tax haven, recently removed from the EU’s blacklist despite uproar, is prosecuting its first major money laundering case against an influential couple who feature among the wealthy elites in the Pandora Papers.

Fact Sheet: Beneficial Ownership Information Reporting Notice of Proposed Rulemaking (NPRM)

Few jurisdictions in the United States require legal entities to disclose information about their beneficial owners—that is, the people who actually own or control a company—or the persons forming them.

Luxembourg Business Register - new requirements for private individuals

A specific procedure allowing the sole registration or creation of a Luxembourg national number for a natural person registered with the RCSL will also be available on the RCSL portal.

Professional Indemnity Insurance Requirements Consultation

Following a process of data collection, engagement with industry participants and policy review

2020 MAP statistics released on OECD “Tax Certainty Day”

Members of the BEPS inclusive framework commit to implementing the action 14 minimum standard, which requires participation in a peer review process and reporting of MAP statistics based on an agreed reporting framework.

Mauritius Commercial Bank Upgrades Its Dubai Presence

The Mauritius Commercial Bank had previously established a Representative Office in the DIFC in July 2019.

Hackers steal $150M from crypto exchange BitMart

Company vows to compensate affected users

The investment manager regimes in the Cayman Islands and BVI

There are no specific qualifications or other requirements on such overseas managers imposed by BVI or the Cayman Islands.

Arbitration: BVI considers issues of enforcement upon a state

In May 2021, following a four day return date hearing, the BVI Commercial Division of the Eastern Caribbean Supreme Court set aside the Registration Order.

Europol: Over ten percent of global GDP is held in offshore accounts

This money represents over 10 percent of global GDP.

Tax Justice Network proposal to FATF’s consultation on beneficial ownership for legal persons

While a multi-pronged approach using many sources of information is welcome, a central beneficial ownership register should become mandatory for all countries, without allowing for “alternative mechanisms”.

Malta regulator issues stark warnings over two financial services companies

Bristol Trading Limited is not authorised to provide any Virtual Financial Asset or other Services under Maltese law.

CIMA cancels director licence of fund manager who admitted fraud

The liquidator confirmed in New Zealand court hearings last month that the fund had incurred significant investment losses.

CIMA cancels director licence of fund manager who admitted fraud

The liquidator confirmed in New Zealand court hearings last month that the fund had incurred significant investment losses.

Ireland Update – Central Bank’s property fund proposals

The current proposal is to introduce a 50% limit on the ratio of a Property Fund’s total loans to its total assets and that this limit would apply on an ongoing basis. .

Cayman Islands Director 2022 Registration and Licensing

Ogier can provide a sample letter of resignation or more general assistance in completing the process if required.

Malta’s grey listing – Contributing factors and the road ahead

Malta was evaluated by MONEYVAL in 2018, with an evaluation report being published in September 2019.

Government accepts some OTS recommendations but rejects others

Five OTS recommendations for reform to CGT have, however, been accepted by government.

Regulation, Risk & Compliance