Managers of Wealth Offshore

Global banks shrink capital shortfalls under Basel rules

After heavy industry lobbying, those rules were reworked in January

Major risks found in Cayman’s finance sector

It also found that Cayman authorities have failed to prosecute any serious money laundering cases

New Beneficial Ownership Toolkit will help tax administrations tackle tax evasion more effectively

To assist policy makers in assessing different implementation options, the toolkit contains policy considerations that Global Forum members can use in implementing the legal and supervisory frameworks to identify, collect and maintain the necessary benef

Offshore tax evasion clampdown produces 5.67m financial records

The crackdown on tax avoidance and evasion by individuals with offshore financial interests has resulted in over three million reports from overseas tax authorities to HMRC about UK residents holding funds offshore as a result of data generated through th

Jersey substance proposals – the Banking and Finance perspective

Following approval of the Law, further Guidance Notes about the practical implications of the Law are expected shortly.

Fund migration boosts Guernsey’s standing in LSE listings

Carey Olsen advises more LSE-listed clients than any other offshore law firm.

Appleby Bermuda partner joins industry experts to speak on captive insurance panel in New York

Gary will be participating in the panel entitled ‘Captive Insurance: Your Company’s Risk-Management Advantage’.

Cayman's Economic Substance Law

The Law sets out requirements applicable to in-scope Cayman Islands entities

Money laundering report finds ‘major deficiencies’ in Cayman

The regional affiliate of the Financial Action Task Force, the global standard-setting body in anti-money laundering, found that the risk assessment provided a “fair level” of understanding.

DB schemes urged to consider Guernsey for captive-based solutions

Guernsey’s pedigree in pensions began in longevity de-risking due to it being increasingly affordable and providing access to the reinsurance market

Labuan Financial Services Authority and China Banking and Insurance Regulatory Commission commit to greater regulatory co-operation and collaboration

The MoU provides the platform for Labuan FSA and CBIRC to enhance the regulatory and supervisory oversight of cross border branches and subsidiaries of China and Labuan based banks and insurance entities.

Cayman Islands – The International Tax Co-operation (Economic Substance) Law 2018

The paper set out jurisdictional substance requirements that certain jurisdictions outside the EU must adopt. Similar legislation has been enacted in other major offshore jurisdictions.

GRADA provides compliance platform to Jamaica Stock Exchange

The platform uses dynamic decision tree intelligence to determine the regulatory journey of the client

Cross-Border Distribution of Collective Investment Schemes

Agreement on the Compromise Texts of the Proposed Directive and Regulation

Amendments to The Private Trust Companies Regulations in the Cayman Islands

Connected persons include those in the same family as provided in the Regulations and those in the same group of companies.

How the IDA’s top client used Ireland to siphon billions offshore tax-free

Medical giant Abbott has deployed a complex network of offshore companies to legally shelter profits from tax officials.

British Virgin Islands – Economic Substance (Companies and Limited Partnerships) Act, 2018

We set out below a summary of the legal entities affected by this new legislation and steps that will be required for compliance.

Cayman further amends money laundering rules

The overhaul follows news that the Financial Action Task Force's report on the Cayman's efforts to tackle terrorist financing and money laundering would not be positive.

The financial services sector in the British Virgin Islands is set to soar

It is a tradeoff, so that's why we are excited

VI avoids EU blacklist, but remains on ‘grey list’

At least for now, the new economic substance law appears to have bought the VI time.

Regulation, Risk & Compliance