09/18/2018
Deputy: High-net-worth law vote ‘disappointing’
And the criteria for assessing such applications will be made clearer after Members approved another part of the proposal.
Regulation, Risk & Compliance
09/18/2018
'One-Stop Shop' For Bahamians To Trade Globally
As a leader in progressive banking and as a committed partner to The Bahamas, Cornèr has seized the opportunity to offer international trading to Bahamians.
09/18/2018
Premier: Cayman ‘will not be bullied’
The FCO claimed on Sunday that Cayman’s withdrawal from an agreement with the U.K., governing the exchange of beneficial ownership information, had made cooperation on serious organized crime more difficult.
09/18/2018
Republic Financial Holdings seeking majority share in Cayman National
RFHL yesterday announced that "an implementation agreement" was executed last Friday between RBTTBL and Cayman National.
09/18/2018
Minister Rivers to meet EU officials on tax blacklist
Cayman and the other jurisdictions aim to have legislation in place by the end of 2018 that will address the EU’s concerns.
09/17/2018
UK frustrated by Cayman Islands silence on money laundering
The NCA leads the UK fight against money laundering and criminal money, which it estimates could be worth up to £1bn a day.
09/14/2018
IRS Moves to Ease Pain of New Tax That Targets Offshore Profits
Rules for foreign tax credits won’t come for another 60 days
09/14/2018
CSX board violated law over CEO job, finds IAS
The CSX board did not meet but appears to have selected Archer after exchanges of emails, based on CVs and the summary document.
09/13/2018
Bermuda Welcomes Digital Asset Business Act 2018
These fees are dependent on estimated client receipts with annual fees calculated on the same basis thereafter.
09/12/2018
Malta blockchain Acts to come into force on 1 November
The Acts have already been unanimously approved by Parliament
09/11/2018
Expats win appeal over penalties on delisted Qrops
HMRC claimed pension transfers were unauthorised
09/11/2018
Task force gives Isle of Man a year to improve AML compliance
The IoM regulator improves oversight in eight out of 40 problem areas
09/07/2018
HMRC warns it will use social media to track down tax evaders
Criminal investigation is usually reserved for cases where HMRC needs to send a strong deterrent message or where the conduct involved is very serious.
09/07/2018
Cayman Islands in spotlight ahead of Florida senate elections, as new anti-money laundering rules loom
The Cayman Islands has not yet overcome the negative stigma of being a tax haven, facilitating money laundering and tax avoidance of wealthy Americans and Europeans.
09/06/2018
More than 1,000 people a day need to settle Rangers-style avoidance schemes before deadline to avoid charge
Those who fail to provide information to HMRC by September 30 will face a “loan charge” in April next year.
09/06/2018
British Overseas Territories: privacy vs transparency
Government pressure for greater financial transparency must also strike a delicate balance with the need for privacy
09/05/2018
BVI mulls whether to take on UK in public registers dispute
The island fears that publicising the names of these beneficial owners could discourage them from doing business with the BVI
09/04/2018
Out with the old – BVI probate rules
The BVI has entirely revoked its old probate rules
09/04/2018
BAHAMAS: ‘Higher Capital Buffers’ For Commercial Banks
“When the need arises to deploy this pre-raised capital, however, it will be important that high fixed capital requirements do not impair a Bahamian banking and economic recovery.”
09/03/2018
Financial system risk is elevated and global standards are essential in managing cross-border infrastructure investment
The report says the financial outlook will also be shaped by China’s ability to manage risks relating to high indebtedness and leverage in its banking, shadow banking and wealth management industries.