Managers of Wealth Offshore

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.

The Electronic Transactions (Guernsey) Law, 2000

A document in electronic form satisfies a legal requirement to retain such in hard copy form, and vice versa.

GFSC issues revised Handbook on Countering Financial Crime and Terrorist Financing

A small number of revisions have been made in response to feedback on the final draft version of the Handbook which was published on 12 November 2018.

Mauritius: A rising jurisdiction of substance and innovation by Graham Patrick

Mauritius has one of the highest per capita incomes within the fast-growing African continent.

Isle of Man govt proposes opening voluntary DC scheme for new starters

Minister for Policy and Reform, Chris Thomas MHK, said that there was “no silver bullet” to fix the issue.

Does your offshore structure have enough substance? by Nel Schoeman and Iris Harvey

The only thing that is constant is change.

Implementation of ATAD in Malta by Anjelica Camilleri de Marco

ATAD was enacted to prescribe common standards with a view to coordinating the implementation by EU Member States of the OECD’s BEPS action items, in particular by introducing principle-based rules in relation to interest limitation, controlled fore

Clarifications relating to combatting money laundering and terrorist financing - Ogier

This briefing focuses particularly on the anti-money laundering and combating the financing of terrorism (AML/CFT) provisions set out in sub-chapter 5.4 of the Circular.

IEA says attacks on tax havens undermine competition and privacy

It said that someone named on an overseas register will be labelled a “tax cheat” and “face the commercial and social risks attendant on that status”, exposing them “to the rule of the mob.”

Making the case for Guernsey trusts and foundations in Asia – Ogier team heading to STEP Hong Kong event

The newly announced change in PRC personal tax regime, increase in the divorce rate and migration overseas have all increased this.

Regulation, Risk & Compliance