Managers of Wealth Offshore

CIMA to supervise banking groups on a consolidated basis

CIMA supervises and regulates banks incorporated and licensed in Cayman in accordance with the principles developed by the Basel Committee on Banking Supervision.

Former Saint Lucia prime minister critical of Caribbean Development Bank

Anthony said there’s nothing that the CDB loves more than consultants, adding that every single project must have consultants.

Trinidad opposition blames government over possible international blacklisting

She said that the opposition is maintaining its position that the Income Tax (Amendment) Bill, 2018 “lacks clarity, is ambiguous and flawed” and that she had received correspondence from Finance Minister Colm Imbert on the matter.

St Kitts highlights citizenship scheme to GCC residents

The country also allows dual citizenship and holders of its passport can also keep and the original passport of the country of the immigrant’s origin.

After Malta, Denmark and Latvia scandals, ECB boosts money laundering scrutiny

The ECB is to launch a dedicated network of watchdogs sharing information on the matter, its chief supervisor Daniele Nouy said yesterday.

Big Four rivals outline recommendations for changing UK audit market

It has become the narrative that refuses to go away for the largest professional services firms of the UK

Border control merger a ‘multi-year’ project

Though the new agency will be established on Jan. 1 under the leadership of the current Collector of Customs Charles Clifford

Approach to enhancing AML standards - Adam Farkas

These investigations take significant time for our AML, legal and management teams but we believe are worthwhile and we will continue to use this tool where needed.

CAYMAN ISLANDS: Government to introduce digital assets framework

The term regulatory sandbox typically describes a “safe space” in which businesses can test new products, services and business models without immediately being subjected to all regulations and licensing requirements.

Caribbean RoundUp

The IDB said the loan is funded from the Ordinary Capital and will be disbursed in a single tranche within a year.

Substance Requirements by SMP Partners

Whilst these are significant changes and will increase the level of documentation and reporting required, it is likely that most companies will either meet the substance requirements or will not be caught by the new rules.

Guernsey’s green focus – home and away

Earlier this year Guernsey was recognised by the think-tank Z/Yen as an emerging global player in green finance.

QROPS Transfer Charge Overhaul On The Way

Some exemptions apply to the transfer rule.

BVI Quarterly Incorporations Rise 20% Annually

These also represented the highest number of new incorporations in the BVI in a first quarter in three years.

Understanding EU anti-money laundering law

This article highlights key aspects of the EU’s fourth and successive directives, which are an important part of Europe’s response to financial crime.

KPMG named a global market leader in Organization Strategy Consulting

KPMG’s Connected Enterprise framework is noted as driving ‘end-to-end business transformation’.

OECD releases latest results on preferential regimes

These results indicate the extent of continuing work to end harmful tax practices, and ensures that in the future all preferential regimes require real substance.

HMRC clarifies Qrops repayment rules

The taxman published two consultations this week on the process it uses for the repayment of this charge on Qualifying Recognised Overseas Pension Schemes.

Corporate America flees zero-tax Caribbean havens after crackdown

American corporations have used tax havens for years to avoid higher levies where they actually earn the income.

Islands respond to Brexit developments

In addition, Jersey’s Minister for External Relations has welcomed the UK Prime Minister’s statement on the Withdrawal Agreement.

Regulation, Risk & Compliance