Managers of Wealth Offshore

Two Countries That Operate Without a Central Bank

In this article, we will explore two such countries that operate without a central bank, shedding light on their unique financial landscapes.

BOJ expects inflation to rise, maintains policy rate at 7%

Key interest rate, which is the overnight rate that the central bank applies to funds deposited at the BOJ by banking institutions, has sat at 7.0 per cent since 2022.

The BVI Civil Procedure Rules Undergo Significant Amendment

The significance of the Amended CPR coming into force is that with effect from 31 July 2023

Compre’s Pallas Re buys SUNZ workers’ comp book

The portfolio comprises large deductible and guaranteed-cost workers’ compensation policies.

Total Solutions Group achieves software provision certification

This certification underpins the company’s commitment to ensuring operational best practice and information security management across the solutions it delivers

BVI Annual Return

The annual return takes the form of a simple unaudited balance sheet/statement of financial position and an income statement.

Island Development Plan review

The IDP is valid for 10 years

Cayman AEOI: What Investment Managers Need to Know about FATCA and CRS Reporting

The Maples Group has deep experience in providing up-to-the-minute legal advice and financial services solutions that support compliance with regulatory requirements under AEOI.

CIMA Updates and Extends the Scope of Its Corporate Governance Guidance

As a leading global fund domicile, the Cayman Islands continues to enhance its regulatory regime

French SCPIs Investing in Irish Property

SCPIs, as non-Irish entities, may wish to consider whether their Irish tax treatment compares less favourably to a comparable Irish fund.

Bahamian Banks and Trust companies excel in compliance study

Shadow shopping is a methodology whereby researchers simulate attempts to engage in illicit finance under natural conditions in order to observe the response of regulated firms.

Five new insurers registered in April

The BMA noted that the registration/licensing of approved insurance entities is issued after the IALC application process and may be confirmed in future periods.

Central Bank reveals nearly $90 million in dormant bank accounts.

The legislation that governs dormant accounts was changed back in 2018

Changes to Jersey's 'high-net-worth' laws propose higher taxes and minimum net worth

If approved, the changes to the law will not affect existing residents, who will continue to pay taxes at their current rate.

The Vice President Reaffirms Administration’s Commitment to Promoting Private-sector Organisations

Highlighting the ever-evolving nature of the world, the Vice President stressed the need to leverage innovation and introduce new ideas and enterprises to help the growth and diversification of the economy.

Local banking sector remains stable amidst ongoing challenges

The BSI shows that banking stability within the monetary union peaked in December 2022, despite growing global macro-financial risks.

Crypto companies flee US troubles to balmy Bermuda

The act was instrumental in setting up a licensing body for issuing, as well as selling and redeeming digital assets.

New requirements for re/insurers

Any such requirement must take into account the nature, scale, complexity and risk profile of the insurance business

Maldives signs USD40 M agreement with Saudi Arabia

Maldives signs USD40 million agreement with Saudi Arabia to establish SME Impact Fund

The Silicon Valley Bank (SVB) debacle

Based on its main client type, deposits held there were typically above the maximum.

Regulation, Risk & Compliance