Managers of Wealth Offshore

Jersey to take part in UN Smart Sustainability Programme

The Chief Minister has signed a commitment to support Digital Jersey joining the programme on behalf of the island

Bermuda at “the end of the beginning” with shelter in place set to be lifted on May 2

People may not gather in groups of more than ten people, and retail businesses and restaurants will only be permitted to open between the hours of 7am and 9pm, with only curbside service, or home delivery.

Bank closes Jersey branch after £475,000 fine

The company admitted the breaches and, in the judgment, the court said that if the regulations were not followed it would impact on the Island’s reputation as a finance centre.

New businesses have applied since lockdown says GFSC

Applications for new businesses have been received by the financial services regulator – despite the pandemic.

Tax Update: Singapore and Indonesia Sign Updated Double Tax Treaty

The new Article 13 is a noteworthy addition to the DTA.

Extraterritorial Reach of the UK to International Trusts

This register is not publicly accessible but, under limited circumstances, may be inspected by any law enforcement authority in the UK and EU members states.

Recognising Diversity - Joe Moynihan

This is an excellent initiative and one which the local IoD can be justifiably proud.

Plaid Cymru joins calls for government to block tax-dodging companies from coronavirus bailout support

It follows EU countres including Poland, France and Denmark proposing similar rules for its bailout funds.

Coronavirus challenges could prompt delays to money-laundering investigations

Investigations and enforcement actions are likely to be "drawn out" in the lockdown period, and banks will face "a much slower process" in dealing with their regulators.

Economic Substance in the UAE - 2020 Update

The OECD then turned its attention to combatting Base Erosion and Profit Shifting (BEPS)

DAC6 – The EU’S Mandatory Disclosure Regime (MDR) and its Impact on the UAE

It provides for the mandatory disclosure by intermediaries, or individual or corporate taxpayers, to the tax authorities of certain cross-border arrangements and structures that could be used to avoid or evade tax and the mandatory automatic exchange of

Roper assents to pensions changes

Changes to Immigration, Traffic and Customs and Border Control law also assented

Guernsey capacity law approved – new capacity test and the introduction of lasting powers of attorney

The Capacity Law will come into force on a date yet to be appointed by Ordinance of the States of Guernsey.

European Commission approves Malta's €215 million wage subsidy scheme

The Commission concluded that the Maltese measure was "necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a Member State."

Using Captives to Insure Against Black Swan Events

As popularized by finance professor and Wall Street trader Nassim Nicholas Taleb in relation to financial markets, the term “black swan” refers to a rare or low-probability event that deviates from what is normally expected but poses critical

JFSC: Effectiveness of finance industry's response to Covid-19

Businesses have been open and transparent with the JFSC about their contingency plans and any operational issues they have been facing.

EU pushes to ‘phase out’ Malta’s citizenship scheme

Citizenship sale schemes posed money-laundering and corruption risks

Corporate Governance During Covid-19

The director remains under an ongoing duty to supervise the performance of the delegated power

Offshore Business Update

As a result, many people, particularly those in the financial industry, are working remotely, and face to face meetings have become challenging (and in some instances, impossible).

Covid-19 - Signing of Wills in Jersey

The Regulations are a welcome and proportionate response to the current unprecedented circumstances.

Regulation, Risk & Compliance