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London And Dubai Explore Financial Synergies

Wednesday, February 10, 2010

The Lord Mayor of the City of London, Nick Anstee, led a business delegation to the United Arab Emirates on February 7-9, 2010, as part of a longer visit to the Gulf region. While on the visit Anstee will underline the UK’s commitment to the UAE and the Gulf and highlight investment opportunities between both regions.

He began his UAE visit with a full day at the Dubai International Financial Centre (DIFC), where his agenda included meeting with Ahmed Humaid Al Tayer, the Governor of the DIFC; attending a working lunch hosted by the Dubai Financial Services Authority on the issue of regulation; speaking during an Institute of Chartered Accountants in England and Wales graduation ceremony; participating in a colloquium held in his honour on the role of courts and arbitration in the global economic recovery; and attending a British Business Group reception held in conjunction with the Cass Business School, City University London, which has a Dubai campus at the DIFC Centre of Excellence.

“London remains a leading financial centre and although events over the last year have shaken financial markets London is making a good recovery with equities, foreign exchange, insurance, marine and commodities trading moving ahead. We of course continue to welcome investment from UAE companies and on this visit I will be encouraging UAE-based financial institutions to look to London as a partner to raise capital and do business,” Anstee commented during the visit. “Our relationship with the UAE remains a critically important one and on this visit I hope to build on that relationship.”

Welcoming Anstee at the DIFC, Al Tayer, added:

“Events over the past two years have only highlighted the importance of building deeper collaborations and linkages among leading international financial centres. Anstee’s visit to the UAE is an example of these efforts on a bilateral level, while also serving to highlight the increased cross-border business opportunities that the new global realities offer companies in our two countries. With this in mind, it pleases us to welcome Anstee and the accompanying delegation in this visit to DIFC which was chosen by many leading UK financial institutions as their regional headquarters. The MENASA region has huge potential for growth as it hosts powerful emerging economies; and the business delegation members are invited to explore these opportunities.”

Anstee was accompanied by a large business delegation that includes senior representatives of investment banks, asset managers, insurers and law firms. He met with policy makers, finance chiefs and business leaders during his visit.

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The Report

Offshore Trusts Guide: Introduction

The History of Offshore Trusts
Development of Professional Competence in the Jurisdictions
What Future for the Trust?
The New Age of Transparency
The Swiss Association of Trust Companies
The Society of Trusts and Estates Practitioners

Offshore Trusts Guide: Jurisdictions

Bahamas

Bahamas: Legal Framework and Formation Rules and Fees
Bahamas: 2006 Private Trust Companies Legislation

Barbados

Barbados: Legal Framework and Formation Rules and Fees
Barbados: Supervisory and Licensing Regime and Fees

Bermuda

Bermuda: Legal Framework and Formation Rules and Fees
Bermuda: Supervisory and Licensing Regime and Fees

British Virgin Islands

British Virgin Islands: Legal Framework and Formation Rules and Fees
British Virgin Islands: Special Trusts Act 2003
British Virgin Islands: The Trustee Act 2003
British Virgin Islands: :Supervisory and Licensing Regime and Fees
British Virgin Islands: New Laws on Private Trust Companies
British Virgin Islands: New Private Trust Company Regulations

Cayman Islands

Cayman Islands: Legal Framework and Formation Rules and Fees
Cayman Islands: Supervisory and Licensing Regime and Fees

Cook Islands

Cook Islands: Legal Framework and Formation Rules and Fees
Cook Islands: Supervisory and Licensing Regime and Fees

Cyprus

Cyprus: Legal Framework and Formation Rules and Fees
Cyprus: Supervision, Licensing and Tax

Gibraltar

Gibraltar: Legal Framework and Formation Rules and Fees
Gibraltar: Legislation, Regulation and Supervision

Guernsey

Guernsey: Legal Framework and Formation Rules and Fees
Guernsey: Trusts Law 2007

Isle of Man

Isle of Man: Legal Framework and Formation Rules and Fees
Isle of Man: Supervisory and Licensing Regime
Isle of Man: Uses Clients and Tax Treatment

Jersey

Jersey: Legal Framework and Formation Rules and Fees
Jersey: Supervisory and Licensing Regime
Jersey: Trusts Amendment Act 2006
Jersey: Foundations

Liechtenstein

Liechtenstein: Legal Framework and Formation Rules and Fees
Liechtenstein: Regulation Supervision and Transparency
Liechtenstein: Characteristics of Liechtenstein Trusts
Liechtenstein: Foundations

Madeira

Madeira: Legal Framework and Formation Rules and Fees

Malta

Malta: Legal Framework and Formation Rules and Fees
Malta: The Trust and Trustees Act 2004

Mauritius

Mauritius: Legal Framework and Formation Rules and Fees
Mauritius: Characteristics of the 2001 Trusts Act
Mauritius: Additional Provisions of the 2001 Trusts Act
Mauritius: Tax Treatment

Monaco

Monaco: Legal Framework and Formation Rules and Fees

Nevis

Nevis: Legal Framework and Formation Rules and Fees

Panama

Panama: Legal Framework and Formation Rules and Fees
Panama: Requirements for Acting as Trust Company in Panama

Seychelles

Seychelles: Legal Framework and Formation Rules and Fees

Turks & Caicos

Turks & Caicos: Legal Framework and Formation Rules and Fees
Turks & Caicos: The Voidable Dispositions Ordinance

Vanuatu

Vanuatu Legal Framework and Formation Rules and Fees




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