Managers of Wealth Offshore

Statement on treatment of Gibraltar in our Handbook after Brexit

As part of our Brexit preparations, we will make a rule to preserve the existing Handbook treatment in respect of Gibraltar in the post exit day Handbook.

The golden opportunity created by the post-financial crisis compliance boom

But equally, there has been a substantial body of what many would classify as new or expanded regulation which may have followed after the crisis in time, but has not truly been a response to it.

Financial Orders – Handle with Care!

The Court made a forfeiture order in September (see here for our earlier update) which Mr Heykers appealed.

Treaty signed with Switzerland to access Pakistanis' accounts info: Senate informed

The Minister of State said that all territories where Pakistani citizens may stash their funds are in FBR’s focus.

RSA fined €3.5m by the Central Bank of Ireland

The breaches arose from “serious shortcomings in RSAII’s internal controls and corporate governance frameworks enabling certain individuals within RSAII to deliberately manipulate claim reserve estimates through the under-reserving of multiple

Guernsey implements changes to pensions and taxation legislature

The move will enable Guernsey to build on the island's market-leading position in the regulated pensions sector.

LGBT activist presses UK on rule of law

Raznovich, who is originally from Argentina, is in a same-sex marriage with his British husband, who is a lawyer with a leading offshore law firm.

EU Blacklist Bills Passed

The Premier has said if Cayman is named on the list it could have serious reputational implications.

IRS Drastically Increasing Penalties Under New Offshore Voluntary Disclosure Guidelinesaa

Taxpayers now face heightened penalties and potentially, longer disclosure periods as compared to the original OVDP.

Crown Dependencies try to shake off EU 'tax haven' tag

The laws were introduced after the European Union threatened the dependencies with inclusion on its 2019 tax blacklist, along with 62 other places.

Guernsey enhances international employee benefits offer

The move will enable Guernsey to build on the island’s market-leading position in the regulated pensions sector.

Value of regulated funds in Jersey hits record high

That number is the highest recorded figure to date, with the growth driven by the alternative asset classes, including a 41% rise in private equity fund values, 18% rise in hedge fund values and 11% rise in real estate fund values.

Cayman Islands Economic Substance Requirements

This briefing summarises the main elements of the Law.

What makes specialties special?

First published in Connect Guernsey December 2018

Trust Essentials - December 2018

Ogier's 'responsive, meticulous and knowledgeable' Private Client and Trusts team has been promoted to the top tier in the latest Legal 500 guide.

Morsel: Whistleblowing by employees

Whistleblowing in financial services businesses over the last few years has been promoted by the establishment of whistleblowing hotlines to report regulatory misconduct

Update on M&A Activity in the Cayman Islands H1 2018

Asian companies looking to incorporate often find the relative straightforwardness of the Cayman Islands legislation attractive.

Legislators approve new economic substance rules

This is significantly shorter than the typical 21-day period, designed to give lawmakers enough time to deliberate proposed legislation.

Offshore firms will be required to set up physical offices under proposed BVI legislation

The bill stipulates that office spaces must also be staffed in proportion to the amount of profit the company is generating in or through the BVI.

Hong Kong-based Vistra aims to be one of the global ‘big four’ in the corporate services industry

The industry is in a similar position as the accountancy and tax advisory business 30 years ago, before consolidation created a ‘big four’ of dominant global players

Regulation, Risk & Compliance