11/05/2018
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.
Regulation, Risk & Compliance
11/04/2018
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.
11/02/2018
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
10/31/2018
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
10/31/2018
Enhanced certainty regarding the use of electronic agents
The new legislation will permit the formation of a contract by the interaction of electronic agents
10/31/2018
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.
10/31/2018
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.
10/31/2018
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.
10/30/2018
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.
10/29/2018
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.
10/29/2018
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.
10/26/2018
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
10/26/2018
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
10/26/2018
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.
10/26/2018
The Current Status of AEOI CRS in Hong Kong and the known developments in 2019 And 2020
Dion’s understanding about the current CRS status and future developments as well as a high-level impact analysis of the financial industry in Hong Kong can be summarised as follows
10/26/2018
Court action is 'prima facie repudiation' of arbitration agreement, says Singapore court
The case concerned a dispute between two companies founded by brothers Oung Da Ming and Oung Yu-Ming.
10/25/2018
ODPC issues advice after data breach increase
The ODPC says the increase is likely to be because organisations are becoming more aware of their legal obligation to report breaches.
10/24/2018
OECD and CIAT join forces in promoting stronger tax systems
The event brought together more than 40 tax administration Commissioners, Director Generals and senior officials from CIAT and CREDAF member countries.
10/24/2018
Jersey substance proposals – the fund managers' perspective
The Guidance Notes are expected to confirm that some, but not all, CIGAs must be carried on in Jersey. Consideration will need to be given to ensuring sufficient CIGAs are carried on in Jersey to avoid a letter-box entity characterisation.
10/24/2018
Jersey lodges Sanctions and Asset-Freezing Law
This would ensure that the island can continue to meet its international obligations to counter terrorist financing and to implement UN sanctions.