Managers of Wealth Offshore

Rivers calls for job transparency

Falling short of supporting calls for business staff plans to be made public, Rivers said she wanted to see much more transparency.

Bermuda officially Solvency II equivalent

Equivalence for Solvency II has officially taken effect in Bermuda, retroactive to 1 January, the Association of Bermuda Insurers and Reinsurers announced yesterday.

Bermuda regulator to increase transparency

The Bermuda Monetary Authority is set to name and shame firms that are subject to enforcement actions in the wake of regulatory scrutiny.

Russia considering sanctions against UK for facilitating tax evasion through Caribbean territories

Russia is blaming the United Kingdom for failing to end local legislation that allows companies with bearer shares to exist in the BVI and that allows non-UK nationals to form such entities.

SEZ international finance centre to be developed in Hulhumale

According to the minister, a firm has been established to draw up the policies for banking and other services to be provided at the finance centre.

JAMAICA: Stave Off Banking Disaster

It is within this milieu that Jamaica and the Caribbean region find itself challenged by what is euphemistically referred to as the 'de-risking of foreign correspondent banking relationships'.

US Treasury rules FBME ‘still a money laundering concern’

The CBC took over the operations of FBME in 2014 after the latter was named a “financial institution of primary money-laundering concern” FinCEN.

MoU sees Guernsey's fund industry agree closer ties with China

The British Private Equity & Venture Capital Association's Channel Islands Working Group was also a signatory to the MoU and will enjoy the benefits that come with closer ties.

St Kitts-Nevis citizenship unit stronger after necessary reforms, says PM

Harris proceeded to list several new features and improvements introduced by his government.

Disclosure of Beneficial Owners of Foreign Companies Holding UK Property

Whilst the main aim of the proposal is to tackle crime, corruption and money laundering it is quite likely that one of the aims is to collect beneficial ownership information so that the new rules in relation to UK Inheritance Tax for residential properti

Brazil joins the Caribbean Development Bank

This became effective on December 31, 2015, following a process that began with Brazil’s application to membership in 2007 and its acceptance by the CDB Board of Governors in 2008.

Bank of China targets Africa with Mauritius banking licence

Bank of Mauritius Governor Ramesh Basant Roi told reporters on Friday the bank was expected to start operations in the next few months but did not give a date.

The resurgence of Special Purpose Acquisition Companies - Ogier

Following the SPAC’s IPO, the funds raised, net of the underwriters’ compensation and money required for working capital, will be placed in an escrow account to fund the SPAC’s eventual Business Combination.

Jersey/UK tax amendment proposed

The agreement of this protocol demonstrates the UK’s and Jersey’s joint commitment to working together to counter tax avoidance and evasion."

Plans for major bank shake-up

These changes affect only the largest banking groups worth £25bn.

UK extends women’s rights treaty to Cayman Islands

Countries that have ratified CEDAW are legally obligated to work towards implementing its provisions

CRS - What Clients Really Need to Know by David Inglesfield, Asiaciti Trust

In summary, CRS is happening with extraordinary speed. It is most important that clients accept that it is; take good advice and structure their affairs properly; and if they wish to choose a new country of tax residence, actually move there and get a cer

Regulation, Risk & Compliance