Managers of Wealth Offshore

Schemes of Arrangement in Jersey and Guernsey: new case law paving the way

Guernsey and Jersey law for Schemes closely follows the UK

The Crown Dependencies define approach to publishing data on corporate owners

The proposed approach is underpinned by the understanding that the EU’s member states and the UK will provide similar levels of transparency of a quality akin to that which the CDs will deliver.

Mauritius to green light offshore funds in 60 days

"If the authorities find that it is not in Mauritius, then the entity is not a tax resident at all, and if it's not a tax resident, then the treaty benefits it gets with other countries will not be available to it," experts said.

Panama back on EU grey list after 4 years

Panama's incoming government is signaling a redoubled commitment to the nation's anti-money laundering and terror finance (AML/TF) efforts.

G-20 continue tax agenda

The proposed solutions could cause a major change to taxing rights by allocating some of a company’s profits to jurisdictions where its consumers or users are based.

Update in Respect of Data Protection in The Cayman Islands

Even those financial services businesses whose clients and counterparties are all entities will nevertheless process personal data.

Bahamian trusts and foundations revisited

Largely, IFCs have responded by legislating to require corporate entities existing under their laws to have economic substance within their respective jurisdictions

BMA proposes additional filing requirements for insurers with alternative capital funding

The BMA insisted the changes do not represent a fundamental change to the filing requirements for insurers, but enhanced transparency and trust in the island’s regulatory regime.

Category 2 status in Gibraltar

The jurisdiction benefits from an expansive economy with globally recognised businesses operating within industries such as gaming, shipping and property.

Plans To Extend Family Friendly Rights In Jersey Delayed

Once the drafting issue has been addressed, the intention remains.

UK minister: Relationship with territories has ups and downs

Then a cross-party parliamentary group of the Foreign Affairs committee of the House of Commons issued a report calling for “a reset” of the relationship between the UK and its territories.

Latest Developments in Bermuda’s Economic Substance Regime

This important development will place Bermuda on a level playing field with other jurisdictions that are subject to the EU’s economic substance requirements.

Isle of Man disclosure rules finally hit insurance sector

Business code leads firms away from ‘certain countries and adviser groups’

Bahamas’ Case For Lesser Kyc Regime Still ‘Not Sufficient’

“These are the onshore financial centres where the KYC and customer regime is less robust than it is in The Bahamas.”

Brits retired in Malta must check their adviser is registered

Otherwise, under regulation changes, they won’t be able to keep receiving financial advice

Is the EU sending a message to Britain at Switzerland’s expense?

Switzerland blocks its listed stocks from being traded in the EU

BMA proposes additional filing requirements for listed insurers with alternative capital funding

The changes apply to all general business classes that are funded by alternative capital arrangements – capital provided by an alternative capital provider for the purposes of collateralising an insurer against contract of insurance losses.

Important Cayman Islands Securities Investment Business Law Changes

The Amendment Law substantially amends the requirements of the SIB Law for registration by certain former “excluded persons” and CIMA’s regulatory powers in respect of such persons

Corlett Bolton Agrees Business TRansfer with Crowe Trust

CBAS long serving staff Julie Ronan and Joanne Richardson will be joining Crowe Trust.

Scotiabank announces sale of Puerto Rico and US Virgin Islands operations

Oriental Bank and Scotiabank will work together to help facilitate a smooth transition for the business.

Regulation, Risk & Compliance