Managers of Wealth Offshore

Brussels seeks clampdown on offshore trusts long protected by UK

EU officials say the new plans would focus on beefing up access to national registers of “beneficial ownership” already being put in place by governments.

India and Cyprus new tax treaty: Mauritius still remains jurisdiction of choice for debt structuring

The Mauritius transitional period (1st April 2017 to 31st March 2019) allows for the sharing of taxing rights between India and Mauritius

GFSC and CIMA sign a Memorandum of Understanding

This AIFMD MoU facilitates information exchange and experience sharing, important processes that will enhance our capabilities as supervisors of AIFMD entities

Bahamas, IDB identify reforms to promote innovation, transparency

But the key issue is how to move from commitments to actual implementation.

Cayman, other territories to be briefed on Brexit

There are also some practical considerations regarding the availability of EU-directed funding assistance available to the overseas territories.

Jersey joins Commonwealth Enterprise and Investment Council

Senator Philip Ozouf, Assistant Chief Minister for Financial Services, Digital, Innovation and Competition, will represent the island on the Advisory Board of the CWEIC.

OECD Common Reporting Standard: The Next Steps

All financial institutions in early adopter jurisdictions should now give thought to the due diligence they will need to perform in respect of pre-existing accounts.

Cayman Islands updates policy on audit waivers for Cayman funds

The Policy provides a welcome expansion of the circumstances when a fund can apply for an exemption from the annual audit requirement

Cayman updates copyright for digital age

Cayman’s Ministry of Commerce also plans to present a trademark bill to the Legislative Assembly in September

Duo with Irish links at centre of $16bn 'Ponzi scheme' probe

Regulator in Mauritius sought help from Central Bank in its investigation into offshore hedge fund

Int’l assessments and financial legislation changes to come

Cayman will first be assessed by the Global Forum on transparency and exchange of information for tax purposes beginning later this year.

BAHAMAS: Gibson says NIB on a positive path

Benefits increased by 5.7 percent to $258 million from $244 million in 2014; and there was a savings in Administrative expenses of $8.1 million,” he said.

Cayman Islands reinsurance sector gains momentum - Appleby

The segregated portfolio company will focus on reinsuring large blocks of pension risk transfer group annuity contracts and other low convexity and long-duration annuity business.

Global Indemnity Announces Proposed Redomestication to the Cayman Islands From Ireland

The Company will report its consolidated financial results in U.S. dollars and under U.S. generally accepted accounting principles.

Pensions law changes ‘within 18 months’

Governor will not consider pension petition

Panama Law Firm’s Complaint Spurs Geneva Criminal Probe

The arrested technician was alleged to have leaked confidential data and violated lawyer secrecy rules, the newspaper Le Temps reported, citing the law firm’s lawyer.

Bulgarian Parliament amends law on offshore companies

A frequent criticism against the law, however, is that it is virtually not being enforced at all.

Panama Papers show how Malta was used to filter millions by shell companies

The use of the Maltese shell company served to conceal the money trail leading back to the client.

Swiss detain worker for firm tied to leak of Panama Papers

Mossack Fonseca is at the center of the so-called Panama Papers leak, in which an unknown person gave a German newspaper a trove of legal records detailing the owners and clients of thousands of offshore entities.

Comment: Fight offshore critics on the moral high ground

The media, charities funded by international aid and lobby groups should be rebutted with a moral argument, he proposed.

Regulation, Risk & Compliance