Managers of Wealth Offshore

5 Countries You Need To Have An Offshore Account In

It invests heavily in the research and development of cutting-edge technology, which helps meet the ever-changing needs and preferences of investors.

World Bank approves US$20 million Credit for Grenada’s Transition to a Resilient Blue Economy

The World Bank is committed to expanding its support for the Caribbean’s transition to a sustainable blue economy.”

Control, Simplicity And Collaboration – Offshore Talking Points From The United Arab Emirates

It is now generally understood that tax authorities and regulatory bodies can be expected to have access to private information and this is a changing landscape, but there is still scope to maintain legitimate privacy as against the public at large.

Azerbaijan ruler Ilham Aliyev’s daughters transferred €15 million to Dubai co from Pilatus accounts

Magisterial inquiry report into Egrant allegations: payments made between September 2015 and March 2016, but no evidence found linking transfers to Egrant or the Muscats

JFSC's Strategic Roadmap 2020-2023 and Business Plan for 2020

At the launch of our Business Plan, we will set out our plans in 2020 to move on to the next stage of becoming an increasingly risk-focused and digitally-enabled regulator.

Cayman extends economic substance rules

The notification deadline is provisionally set for March 2020.

Financial watchdog urges Turkey to step up efforts against money laundering

Turkey completed a national risk assessment in 2018.

ESAs publish joint guidelines on AML/CFT cooperation and information exchange under MLD4

The Guidelines also include provisions to structure supervisory cooperation in situations where the conditions for setting up an AML/CFT college are not met.

Malta posts first budget surplus in 32 years in 2016 as economy surges

Muscat said his government had fixed public finances without resorting to austerity measures, but Malta needed to maintain a prudent fiscal stance.

CSSF guidance on persons involved in AML/CFT for Luxembourg regulated funds and investment fund managers

This article of the law requires the appointment of two AML/CFT functions

EU to roll out sanctions against blacklisted jurisdictions

The Finnish presidency confirmed that the four sanctions have been approved by EU member countries and will be automatically agreed to at the opening of the Council of Ministers meeting.

Smart Pension to operate Guernsey AE scheme

Under the new secondary pension legislation, Guernsey employees will have the option to opt out of the scheme, but there will be an obligation on the employer to re-enrol employees every three years.

BVI sees revenue from financial sector drop $30m

The BVI has overhauled many of its financial regulations to avoid being blacklisted by the EU and other international organisations.

World View – Withdrawal Of Canadian Banks: Opportunity To Remedy Not Repeat Mistakes

These laws, which became the model for the rest of the newly independent English Caribbean, pleased Canadian banks.

RBC sells Eastern Caribbean banking operations

Canadian banks have been steadily reducing their footprint in the Caribbean region in recent years.

Reflective Loss: the Unprincipled Principle

The article takes a closer look at the reflective loss principle, which is designed to prevent a claimant from recovering damages for loss suffered because the company in which the claimant is invested has suffered loss.

Bank of Baroda to sell Caribbean subsidiary to ANSA bank

After due diligence, empaneled investment banker BOBCAPS Ltd had identified ANSA Merchant Bank Ltd as a potential buyer, Bank of Baroda said.

Scotiabank sold to Trinidad-based bank

In September, the Eastern Caribbean Central Bank, with the ECCB Monetary Council, approved the application for the transfer of Scotiabank’s assets and liabilities to Republic Bank.

U.S. Anti-Money-Laundering Chief Calls for Beneficial Ownership Registry

Changes to the U.S.’s anti-money-laundering regime also have received support from the White House, which in October released a statement commending the passage of the House bill.

Channel Islands: Year in Review

Global macro-economic uncertainty, regional political disruptions, economic substance rules, beneficial ownership registers, regulatory fines and that’s not the half of it!

Regulation, Risk & Compliance