|
 |
Q1 2013 Feature: Jersey Enhances Its Trust Law
New legislation to enhance Jersey's trusts offering is expected to make the jurisdiction a more attractive location for private wealth management, and this feature provides an overview of the main changes brought about by the amendment to the island’s trust law, which went into effect late last year. Continue
Reading
|
 |
Q3 2012 Feature: Offshore Trusts Under Threat?
The current controversy over the tax affairs of wealthy celebrities in the United Kingdom has cast an unwelcome spotlight onto offshore territories like Guernsey and Jersey, and has led some to suggest that the offshore trust, at least as far as these jurisdictions are concerned, has had its day, with David Cameron’s coalition government expected to fire a new volley of anti-avoidance legislation in their direction. Leading political and finance industry figures in the islands, however, beg to differ. Continue
Reading
|
 |
Q2 2012 Feature: Hong Kong Trust Law Reform
Seeking to add another string to its financial services bow, the Hong Kong government has issued comprehensive proposals to update the territory’s trust laws, which are designed to better cater for the needs of modern-day trusts, strengthen the competitiveness of the jurisdiction’s trust business segment and consolidate the status of Hong Kong as an international asset management centre. Continue
Reading
|
 |
Q1 2012 - Singapore Trusts
Singapore is not thought of as one of the world’s leading trust jurisdictions. But with its wealth management industry booming, and with trust business a key pillar of this sector, the city-state is rapidly becoming a favoured jurisdiction in which to form a trust, thanks to its favourable tax laws, strong confidentiality laws and reform of trust legislation in 2004. Continue
Reading
|
 |
Q4 2011 - Trust Law Evolves in the Channel Islands
Two key rulings in the common law trust arena by the English Privy Council and the Royal Court of Jersey respectively last June are expected to have a significant impact on the way in which trust law is applied and interpreted in future cases involving Guernsey and Jersey trusts. Continue
Reading
|
|
|
|
|
|
Latest News
IoM Updates Guidance For Trust Services Providers
8/3/2013
The Isle of Man's Financial Supervision Commission has issued new draft guidance on the expected practice of Trust
Service Providers to strengthen existing guidelines in place since October
2010.
Hong Kong Budget Provides Less In Handouts
1/3/2013
Despite the continued slow growth in Hong Kong’s economy, Financial Secretary
John Tsang produced measures to help those on lower incomes, middle-class taxpayers
and small- and medium-sized enterprises, amounting to only HKD33bn in his 2013/14 Budget, compared to HKD80bn last year.
Bermuda Relaxes Beneficial Owner Reporting Rules
26/2/2013
The Bermuda Monetary Authority has announced that it has increased the threshold
above which beneficial owners of stakes in companies or partnerships, or companies
that are subject to exchange control requirements, must disclose personal information
to the Authority, to 10% from 5%.
LGT Headquarters Middle East Business In Dubai
19/2/2013
LGT Group, the international private banking and asset management group, owned
by the royal family of Liechtenstein, has chosen Dubai as the headquarters of its new subsidiary, LGT (Middle East) Limited, following regulatory approvals to operate in the Dubai International Financial Center.
Isle Of Man To Redraft Companies Law
20/2/2013
The Isle of Man Government has launched a consultation on a draft Companies Bill
2013 to modernize the legislative framework for companies in the island.
Independent Guernsey Trust Companies Merge
18/2/2013
Following the commencement of negotiations towards a merger in mid-2012, independent
Guernsey-based trust companies, Aquitaine Group and Goethe Management, have agreed
to join forces under the Aquitaine brand.
Hong Kong Gazettes Trust Law Reform
13/2/2013
The Trust Law (Amendment) Bill 2013, gazetted on February 8, is aimed at modernizing
trust law in Hong Kong by enhancing trustees' default powers while providing for
appropriate checks and balances, thereby making trusts administration more effective.
Panama Approves Israeli, UAE Double Tax Pacts
11/2/2013
Panama's National Assembly has approved two new double tax conventions signed
with Israel, and with the United Arab Emirates.
Former Banking Head To Lead Cayman Finance
8/2/2013
Cayman Finance, the organization formed to represent the Cayman Island's financial services
industry, has confirmed the appointment of Gonzalo Jalles, the former head of
HSBC Cayman, as Chief Executive Officer with immediate effect.
Brazil Removes IOF Tax On REITS
5/2/2013
The Brazilian government has introduced a 0% IOF rate (financial transactions tax) on share purchases in real-estate investment trusts.
Bermuda Outlines 2013 Regulatory Priorities
6/2/2013
The Chief Executive Officer of the Bermuda Monetary Authority has said that an "extremely busy year" lies ahead for the regulator as it develops a "risk-based regulatory and supervisory environment that fits the unique nature of Bermuda's market" following the territory's decision not to apply the Solvency II capital adequacy framework to the captive insurance sector.
Wells Fargo Establishes DIFC Branch
6/2/2013
Wells Fargo and Company, one of the United States' largest banks, has opened a new branch in the Dubai International Financial Center to support the expansion of its business in the Middle East and North Africa region.
Guernsey Home To Most Non-UK LSE-Listed Companies
1/2/2013
Low-tax Guernsey remains the top domicile of incorporation globally for non-UK entities listed on the London Stock Exchange, according to end-of-year data from the London Stock Exchange.
Jersey Wins 'IFC Of The Year' Gong
30/1/2013
Jersey has received an "International Financial Center of the Year" award at a recent ceremony hosted by Citywealth International in London.
Jersey Minister Gives Channel Islands Aircraft Registry Update
29/1/2013
Responding to the findings of a Scrutiny Panel review of progress towards the new joint Channel Islands Aircraft Registry, Jersey's Minister for Economic Development, Alan Maclean has begun to address the unique selling points the Registry will offer in tax terms.
|
| |
|
|
