12/20/2018
EU Blacklist Bills Passed
The Premier has said if Cayman is named on the list it could have serious reputational implications.
Regulation, Risk & Compliance
12/20/2018
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.
12/20/2018
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.
12/20/2018
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.
12/20/2018
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.
12/19/2018
Cayman Islands Economic Substance Requirements
This briefing summarises the main elements of the Law.
12/19/2018
What makes specialties special?
First published in Connect Guernsey December 2018
12/19/2018
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.
12/19/2018
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
12/19/2018
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.
12/19/2018
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.
12/19/2018
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.
12/18/2018
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
12/18/2018
UK agrees to new ministry
Hong Kong office approved
12/18/2018
TMF Group to acquire fund administration business in Channel Islands from State Street
The acquisition is a key milestone in TMF Group’s drive to further grow its PERE fund administration business.
12/18/2018
FATCA: Significant Relief in New Proposed Regulations
The preamble to the Proposed Regulations announces that taxpayers may generally rely on the Proposed Regulations pending issuance of final regulations.
12/18/2018
Offshore Accounts Today Equal Transparency
US Taxpayers should report all reportable foreign accounts no matter what.
12/18/2018
Tax Update: IRS Trims Back FATCA
The proposed regulations also eliminate FATCA withholding on certain insurance premiums and provide other helpful guidance.
12/17/2018
UK govt to stop use of illicit money in property purchases by foreigners
The phenomenon has turned the real estate markets of North American and European cities into the savings accounts of wealthy foreigners - some of whom face allegations of corruption or crime back home.
12/17/2018
Antigua PM Invites Scotiabank to Meet With Banks Interested in Purchasing Local Operations
Prime Minister Browne has taken the position that his government will not give the vesting order to facilitate the bank’s divestment unless a consortium of local banks is given the first right of refusal to acquire the bank’s operations.