Removal of the Cayman Islands from the EU List of Non-Cooperative Jurisdictions for Tax Purposes On 6 October 2020 the Cayman Islands was removed from the “EU Blacklist”, following its addition to the list in February this year. The Cayman Islands Government has continued to work closely alongside EU officials to address their concerns and
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A well supported board is an effective board! Boards (and ultimately, companies and shareholders) benefit from the support and proactiveness of a quality board support service. Very often, the time and administrative burden of organising board meetings and drafting minutes is underestimated; the efficiency and streamlining benefits a professional service provider can bring to board
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Covid-19 has pressure-tested businesses around the globe, Daniel Pacic talks about the implications the pandemic has had on the UAE in his interview with Sarajevo-based ‘Business’ Magazine. To what extent has the crisis brought about by the pandemic had an effect on the economy in Dubai and the UAE as a whole? As the current
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If you’re considering adding an independent director to your board, (and if you’re not considering it, you probably should be) firstly, you need to ensure your candidate is in fact independent. The factors determining a director’s independence are outlined in the UK Corporate Governance Code. To be considered independent, an individual Should not be or
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As countries in the GCC begin to re-open their economies, as well as their borders and airports, it is becoming apparent that the effects of the coronavirus-induced lockdown will be severe and long-lasting. Even the most optimistic analysts estimate that at least 10% of the 9.9 million population of the United Arab Emirates (largely made
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On 7 July 2020, the Cayman Islands Government passed several amendments to the Private Funds Law 2020. It is important to note that these changes broaden the scope of the definition of a private fund in several ways that may require previously out of scope entities to register as a private fund and comply with
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Jersey’s Future-Proof Model of Regulation and Economic Substance In early 2019, the EU Council adopted a resolution on a Code of Conduct for business taxation, and Jersey subsequently introduced the Taxation (Companies – Economic Substance) (Jersey) Law 2019. These measures have placed a certain amount of pressure on the island’s firms, but have perhaps provided
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The Tax Information Authority (Amendment) Bill, 2020 (the ‘TIA Bill’) appeared in the gazette on Friday 29th May 2020 and is due to be presented at the next meeting of the Legislative Assembly by the Minister of Financial Services. The Cayman Islands Government are welcoming feedback on the provisions within the TIA Bill for consideration
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UK real estate has a significant history of attracting investment as an alternative asset class for institutional investors including pension funds, insurance companies, sovereign wealth funds and private equity for investors based in the UK and internationally. UK REIT Regime The UK REIT regime was launched on 1 January 2007 to encourage investment in the
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Amendments to Cayman Anti-Money Laundering Regulations (“AMLR’S”) and Anti Money Laundering (“AML”) / Countering of Terrorist Financing (“CFT”) Guidance notes following evaluations made by the Caribbean Financial Action Task Force (“CFATF”). In February 2020, changes and updates to the AML regulations and AML/CFT guidance notes were announced following recommendations from the CFATF. What are the
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