Managers of Wealth Offshore

AEOI – the consequences of non-compliance and the request to correct

Preparations should be well underway, to assess and ascertain the FATCA compliance status of your organisation.

CIMA demands anti-money laundering audits from excluded persons

Although excluded persons were always subject to anti-money laundering and combating terrorism financing regulations, the new obligations are tightening up the somewhat laissez-faire excluded persons regime.

Higher penalties for offshore matters

An offshore matter is where the potential loss of tax is charged on

Flourishing Futures - Helping Trustees Prepare for the Next Generation

This includes the transfer of individual influence in existing wealth-holding structures.

Cayman issues four captive licenses in Q3

The total number of licenses issued for the period is down year-on-year, where there were seven new Class B formations in Q3 2017, including two third-party insurers.

OfReg consultancy expenses balloon to $2 million

Money spent on ‘human dynamics training,’ Professor Fibre, and more

Labuan IBFC likely to lose shine

Labuan will see restructuring in tax treatment and new conditions come to force on transactions involving entities from the offshore and mid-shore centre as well as abolishment of current conditions.

John Berryhill explains why moving to an offshore registrar is not always a good idea

Where a TOS refers to the “applicable law”, it is a good idea to find out what that applicable law may be.

Guernsey States approves proposals for Electronic Agents Legislation

Whilst the Electronic Transactions Law was drafted with a degree of “future proofing” in mind, and is arguably sufficient to encompass many of the uses of technology that exist today, the certainty that the new legislation will bring is to be

Bahamas placed on UK’s money laundering watchlist

Under the UK’s Money Laundering, Terrorist Financing and Transfer of Funds law British regulated businesses are obliged to “take into account geographical risk factors” when assessing risk and the extent of anti-money laundering measures

Enhanced certainty regarding the use of electronic agents

The new legislation will permit the formation of a contract by the interaction of electronic agents

Bill extends beneficial ownership register to LLPs

The beneficial ownership regime does not directly apply to “foreign” companies or partnerships, but the bill would now extend it to LLPs.

Overview of changes to Experienced Investor Fund and Statement on Funds investing in digital assets

The most important change to the EIF regime, introduces new criteria, used to determine those persons who are considered eligible by the GFSC, for the management and control of an EIF.

BAHAMAS Public Statement on FATF ICRG announcement

The Bahamas’ CFATF Mutual Evaluation Report was approved at the May 2017 CFATF Plenary in Trinidad and Tobago.

Substance debate can enhance captives market

The Base Erosion and Profit Shifting debate has seen jurisdictions take different approaches to how they view business substance.

Ex-Ag Challenges Beneficial Owner Registry Proposal

The banks and trust companies, which incorporate and manage companies under their regime, also have a duty to know the beneficial ownership.

Innovation on the Agenda as Guernsey IoD Seminar Explores Shape of Things to Come

Together the panel will share their experience and knowledge of how innovation and technological disruption has impacted every industry and every economy around the world – including Guernsey.

CySEC Warning List Helps to Put Fraudsters Out of Action

75 percent of the sites on the regulator's non-approved domain list have shut down

The Bahamas is moving towards e-Government

The training program will help to strengthen the institutional capacity of the Government and to identify best practices and knowledge to improve the quality of government services and, therefore, increase citizen satisfaction

Banking Regulations Being Bypassed In Curaçao?

The bank complied with the ruling and paid the construction company as was instructed by the Court of First Instance.

Regulation, Risk & Compliance