09/03/2018
Measures to avoid EU blacklist could hurt BVI’s finance sector
No details on the legislative changes that are being prepared have been made public, even as the December 2018 deadline to implement the changes looms.
Regulation, Risk & Compliance
09/03/2018
Demerger Regime introduced in Jersey
The Regulations will allow for a Jersey company to demerge into two or more Jersey companies, which may or may not include the demerging company
09/02/2018
OECD releases fourth round of BEPS Action 14 peer review reports
A document addressing the implementation of best practices is also available for each jurisdiction that opted to have such best practices assessed.
08/31/2018
Eric Watson used Caymans to 'disguise commercial reality', courts hear
The case hinges on a series of related-party loans and share transfers undertaken in 2002 as rich-lister Watson formally left New Zealand - a step intended to sever his taxable ties to the country of his birth - to reside in London.
08/29/2018
From Roman stoics to UK case law – lessons on stress management
"From the point of view of employers, prevention is always better than cure – this session looks at case law about how the courts and tribunals deal with stress disputes, how potential claims arise, and what the statute book has to say.
08/28/2018
The need for insolvency fail-safe in Cayman
This legislative position, affirmed by the Grand Court in the China Shanshui case, can be problematic.
08/28/2018
Commissioner reports on data breaches
The ODPC continues to be engaged with the data controller on these cases.
08/23/2018
Bermuda's Charities Amendment Act: Balancing AML/ATF standards and privacy
The public only has the right to inspect the register of charities in respect of public charities, together with such public charities’ statements of accounts and annual reports.
08/21/2018
Gibraltar-headquartered Sovereign obtains new Hong Kong licences
Any person who carries on a trust or company service business in Hong Kong without a licence commits an offence.
08/21/2018
Jersey opens tax consultation to appease EU and avoid blacklist
Crown dependency canvassing stakeholders on substance rules in bid to avoid being branded a tax haven
08/17/2018
UK Brexit technical notices: Government of Jersey response
Whilst Jersey’s position differs from that of the UK, in that we have a limited relationship with the European Union as set out under Protocol 3 to the UK’s Treaty of Accession, there are certain areas where the Island will be impacted.
08/09/2018
Financial institution to examine TCI’s borrowing
Lessons and recommendations from the evaluation will be used to improve the bank’s performance in targeted countries.
08/09/2018
GFSC launches innovation network
It will also create a new framework for co-operation between financial services regulators on innovation related topics, sharing different experiences and approaches.
08/08/2018
Jersey pushes back over proceeds of crime
Proposals will limit EU-backed anti-money laundering recommendations
08/08/2018
Jersey launches consultation on tax residency claims
They published proposals are part of a consultation, which officials say would allow the island to meet the commitments made in 2017 to the EU Code of Conduct Group on Business Taxation.
08/07/2018
Cyprus clamps down on shell companies
Tax residence benefits are only for businesses that have real substance, says central bank
08/03/2018
JFSC launches online JPF application tool
The online application is ground-breaking for both the JFSC and Industry, and will transform the way in which applications are processed for new licences.
08/02/2018
States of Guernsey seeks business views on Brexit
The findings of the research – commissioned by the Committee for Economic Development, with the Policy & Resources Committee – will be used by the States to inform work to plan for the UK's exit from the European Union.
07/30/2018
What Is The Common Reporting Standard For Expats?
The information is passed to the customer’s home tax authority to check against filings to make sure the right of tax.
07/30/2018
Move afoot in UK to force offshore firms to reveal owners of properties
The owners’ names will appear on a corporate registry, making it easier for law enforcement to seize assets linked to criminals or bought through “dirty money”.