Insights Archive - Page 2 of 3

Amendments to the Cayman Private Funds Law 2020

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

Matters of Substance

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

Update to Cayman Islands Tax Legislation

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

Why Jersey companies are being used to avail of the UK Real Estate Investment Trusts (REITs), & a cost-effective listing option in The International Stock Exchange (TISE)

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

Amendments to Cayman AML Regulations

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

Cayman Private Fund Regime

The Cayman Islands recently introduced new legislation, the Private Funds Law, 2020 (the “Law”) that is now in force having commenced on 7th February 2020. This signifies a step forward by the Cayman Islands to promote itself as a well-established jurisdiction in the private fund administration sector. The contents of the Law are similar to

Swiss Trusts for U.S. Client Asset Protection and Diversification

While Swiss law does not provide for trusts governed by domestic law, Switzerland recognizes trusts governed by the laws of other jurisdictions. For example, a Swiss trustee may serve as trustee of a trust governed by the law of Belize or the Cayman Islands, jurisdictions popular for asset protection planning due to their flexible and

Dominion’s Top Tips for holding Virtual Board Meetings

What is a virtual board meeting? Virtual board meetings are meetings held by video or telephone where is it not possible for all participants, primarily, all directors, to be together physically. In today’s climate, there are many things that might be challenging your company but holding an effective board meeting shouldn’t be one of them.

Covid 19: The latest from the GCC

Following the announcement on March 30th from the Dubai Expo 2020 steering committee regarding the possibility of the event being delayed for a year due to the Covid-19 pandemic, it would seem that the much-awaited Expo is set to become the latest in a long line of global entertainment, business and sporting events, including Euro

International Financial Centres

The dawn of Public Registries of Company ownership is upon us and is spreading around the globe. However, the approach to its adoption is not consistent and this doesn’t serve the global financial community well.