Stories that are tagged 'offshore trusts'

	Financial Crisis Hits Jersey Finance Industry Profits 5/10/2012 The Jersey government's latest statistical report shows a significant decline in the profitability and size of the nation's financial services industry since the start of the financial crisis, putting pressure on Jersey tax receipts. Recent figures for 2011, however, show modest signs of improvements.
	Ireland, US In Talks Over FATCA 5/1/2012 Ireland and the United States are in talks to establish a common approach to the Foreign Account Tax Compliance Act, drawing on domestic and international tax legislation and treaties.
	South Africa Pushing For Tax Compliance By HNWIs 4/20/2012 In reply to a question in the National Assembly, South Africa’s Finance Minister Pravin Gordhan confirmed that the South African Revenue Service has taken steps to improve income tax compliance among high net worth individuals (HNWIs).
	Hong Kong Launches Consultation On Trust Law Reform Bill 3/26/2012 Hong Kong’s government has launched a two-month public consultation on its draft legislation on trust law reform, which followed the positive responses it had received from stakeholders in an earlier consultation held in 2009.
	Guernsey Wealth Management Promoted In India 3/23/2012 Guernsey's offerings as a wealth management domicile were promoted at the India Wealth Forum, held recently in Delhi and attended by Guernsey wealth management firm Nerine Group of Fiduciaries.
	PNL Pioneers New Offshore Insurance Products 3/14/2012 Paul Napier Ltd, an independent Lloyd’s insurance broker that specialises in the provision of professional and financial Lines insurance classes to the offshore financial services industry, has announced the arrival of a new range of insurance products for the UK and international offshore financial services industry including the trust, family trust, fiduciary and corporate service provider sectors.
	US Court Closes Employee Insurance Benefit Tax Scheme 3/12/2012 The United States Justice Department has announced that a federal court has permanently barred the operation of an alleged scheme that helps high-income individuals attempt to avoid income taxes by funnelling money through purported "welfare benefit plans”.
	Mixed Fortunes For Cayman Finance Industry 3/1/2012 The Cayman Islands' Economics and Statistics Office has reported that the island's economy began to recover from the economic downturn during the first nine months of 2011, with growth of 1.2% year-on-year recorded, compared to a contraction of 5.8% in the same period a year earlier. However, the financial services sector continues to see mixed results.
	Appleby Set To Launch Shanghai Office 2/28/2012 Appleby, which claims to be the world's largest provider of offshore legal and fiduciary and administration services, has announced its decision to expand its global reach by establishing a new representative office in Shanghai, China.
	Guernsey Firms Scoop Offshore Business Awards 2/14/2012 A number of Guernsey-based law and wealth management firms were among the winners at the recent Citywealth Offshore Awards in London.
	Liechtenstein, UK Seal Tax Treaty 2/9/2012 During a recent working visit to Vaduz by Dave Hartnett, UK Permanent Secretary for Tax, Liechtenstein and the UK initialled a landmark comprehensive bilateral Income Tax Treaty, and extended the unique Liechtenstein Disclosure Facility.
	Switzerland Yields To US Tax Demands 2/6/2012 Following mounting pressure from the US attorney’s office, Switzerland has finally handed over to US investigators comprehensive, encrypted, banking data pertaining to eleven Swiss banks, alleged to have aided wealthy Americans to evade US taxes amounting to billions of euros.
	Mourant Ozannes Opens Hong Kong Office 2/3/2012 Leading offshore law firm, Mourant Ozannes, has opened an office in Hong Kong to provide clients and intermediaries with access to the firm's offshore legal services in an Asian time zone.
	Liechtenstein's PM Welcomes Dawn Of New Tax Era 2/1/2012 Determined to portray a new and positive image of the Principality, Liechtenstein’s Prime Minister and Finance Minister Klaus Tschütscher has recently insisted that the age of so-called tax havens, jurisdictions deemed to be uncooperative in tax matters, is now over.
	Guernsey Outlines 2012 Financial Sector Agenda 1/25/2012 Guernsey's Commerce and Employment Department has outlined its agenda for the forthcoming year, which includes concluding legislative programs to allow for the creation of Limited Liability Partnerships, Limited Partnerships and Foundations in Guernsey.
	Malta Finance Centre In Good Shape 1/18/2012 Malta's efforts to establish itself as a dynamic, cost-efficient, financial services domicile is paying dividends, according to promotional agency MaltaFinance, which has highlighted that each of the island's financial services sectors, insurance, banking, trusts and funds, recorded solid performance during 2011.
	Jersey Ups Promotion In India 1/12/2012 Jersey Finance has undertaken further promotional activity in India this month following the signing of a Tax Information Exchange Agreement with the territory in November to strengthen business ties.
	IoM Amends AML/CTF Handbook 12/30/2011 The Isle of Man's Financial Supervision Commission has announced amendments to the territory's Anti-Money Laundering and Countering the Financing of Terrorism handbook.
	Jersey Structure Employed In Polymetal's LSE Listing 12/23/2011 Channel Islands law firm Carey Olsen has advised Polymetal International, the largest silver and fourth-largest gold extraction company in Russia, and one of the top five primary silver extraction companies worldwide, on the Jersey aspects of its listing on the main market of the London Stock Exchange.
	Litigation Funding Now Available In Jersey 12/6/2011 A landmark judgment from the Royal Court in Jersey now officially recognises third-party litigation funding in Jersey, provided that it is properly structured.
	Isle of Man Set To Introduce Foundations 11/18/2011 The Isle of Man's Treasury Minister Eddie Teare has welcomed the announcement of Royal Assent to new legislation that would permit the establishment of foundations in the territory, enhancing its position as a centre for international wealth management.
	Hong Kong's Fund Managers Told Of New Opportunities 11/1/2011 A speech by Hong Kong’s Financial Secretary, John C Tsang, at the Annual Conference of the Hong Kong Investment Funds Association, looked at how Hong Kong's asset management industry can steer a path towards new opportunities during the period of China’s 12th Five-Year Plan.
	New Zealand Tax Man Targeting Overseas Accounts 10/19/2011 New Zealand Inland Revenue has issued a revenue alert advising people that they are required to declare all income from foreign sources.
	Atlas Targets Asian Trust Services Market 10/18/2011 Atlas Corporate Services Group, a leading international corporate and trust service provider, has announced that it has been granted new licences to operate in the Ras-Al-Khaimah Free Trade Zone and in Mauritius, as the firm expands its global reach into Asia.
	Switzerland, UK Seal Tax Deal 10/10/2011 Swiss Federal Councillor Eveline Widmer-Schlumpf and UK Exchequer Secretary to the Treasury David Gauke recently signed a landmark tax agreement in London, concerning the taxation of UK investors’ income in Switzerland.
	Switzerland Reaches Out To Over-Taxed HNWIs 10/6/2011 Swiss cities including Bern, Lausanne, Lugarno and Lucerne have launched a new marketing campaign promoting the low taxes and the business benefits of moving to Switzerland, targeting UK companies and wealthy individuals suffering from a serious case of the fiscal blues.
	Liechtenstein, North Germany Strengthen Ties 10/4/2011 During a recent visit by Liechtenstein’s Prime Minister Klaus Tschütscher to North Germany, the Principality was recognized as a stable and reliable financial and economic location.
	Jersey Rated As Top IOFC 9/29/2011 Jersey has retained its position as the highest rated offshore international finance centre in the latest Global Financial Centres Index published on September 26, 2011.
	Vistra Acquires Herald Fund Services 8/5/2011 The Jersey arm of Vistra Group, a leading independent provider of trust, fiduciary, corporate and fund services, has announced the acquisition of Herald Fund Services limited. Existing clients and Herald's fund administration have been transferred to Vistra Jersey.
	Jersey Delivers Landmark Trust Ruling 7/12/2011 Carey Olsen has commented on a significant judgment delivered by the Jersey Royal Court, where Jersey chose not to apply the same methods as an English court in its decision on an important part of trust law.
	BVI Highlights Trust Expertise 7/6/2011 The benefits of using the British Virgin Islands as a jurisdiction for trusts and estates were the recent focus of a BVI International Finance Centre sponsored roundtable discussion with senior private sector individuals at BVI House in London.
	Hong Kong Studies Listing Of Business Trusts 6/14/2011 In answer to a question in the Legislative Council, Hong Kong’s Secretary for Financial Services and the Treasury, Professor K C Chan, disclosed that the Securities and Futures Commission and Hong Kong’s Stock Exchange are looking into the potential listing of active business trusts.
	Guernsey Seeks Trusts Data 6/14/2011 The Guernsey Financial Services Commission has announced that 2011 Fiduciary Annual Return forms will shortly be available with changes made in light of a key recommendation from the International Monetary Fund to improve the island's monitoring of island-based assets.
	Kleinwort Bensons Expands Offshore Reach 6/7/2011 Kleinwort Benson has announced the completion of its acquisition of Close Offshore Group, first publicized in March 2011.
	Carey Olsen Named Offshore Law Firm Of The Year 5/5/2011 Channel Islands law firm Carey Olsen has been named international offshore law firm of the year and client-focused law firm of the year by leading mergers and acquisitions publication ACQ.
	Jersey Finance Targeting Affluent Russians 4/25/2011 New quality business is ripe for the picking in Russia as growing numbers accumulate wealth, according to Jersey Finance, the government's financial services industry promotional body.
	First Jersey Company Law Reference Book Published 4/20/2011 Bedell Cristin partner Mark Dunlop has written the first comprehensive book to deal with Jersey company law.
	First Channel Islands Trust Firm Opens India Office 4/18/2011 Guernsey-headquartered Nerine Group has become the first independent trust company from the Channel Islands to open a full office in India, Nerine Advisory Services in Delhi.
	Guernsey Consults On Foundations Law 4/15/2011 Guernsey’s Commerce and Employment Department has published a consultation document on draft legislation providing for the proposed introduction of the foundation company form in Guernsey.
	EU Launches Assault On 'Harmful' Taxes 4/5/2011 Speaking at the 'Workshop on the Outlook for Financial Markets, for their Governance and for Finance,' the EU Commissioner for Taxation, Algirdas Šemeta, disclosed that the European Union, as part of a three-point plan to tackle member states' debts, will increase their assault on 'harmful' tax regimes.
	Jersey Trust Experts Examine Court Rulings 3/29/2011 There was a significant turnout at a recent Jersey conference, which focused on the precarious future of the Hastings-Bass principle, which sets out when a court may intervene in cases where a trustee acts under his or her own discretion, particularly in cases involving tax.
	IK Acquires Offshore Incorporations Group 3/29/2011 IK Investment Partners has announced that it has acquired from the Carlyle Group the Offshore Incorporations group of companies, which is the Asian market leader in company formation and associated services.
	Jersey Expands Presence In Key Markets 3/16/2011 Jersey’s links with India and the Gulf Cooperation Council nations will be strengthened from this month through the official launch of Jersey Finance’s representative offices in Abu Dhabi and Mumbai, and the signing of a Tax Information Exchange Agreement with India.
	Guernsey's Future Lies In Emerging Markets 2/23/2011 Debate at a recent forum on trusts in Guernsey has highlighted how the local trust sector is increasingly looking to explore opportunities in emerging markets, according to Peter Niven, the Chief Executive of Guernsey Finance – the promotional agency that represents the island's financial services industry.
	Czech Parliament Adopts Tax Info Exchange Agreements 2/18/2011 Tax Information Exchange Agreements initialled by the Czech Republic, with the Isle of Man and Guernsey, were approved by the Czech parliament on February 16, Prime Minister Petr Necas announced, noting they are the first such agreements to be adopted by the nation.
	Liechtenstein Reforms Enter New Phase 2/3/2011 The Liechtenstein government has recently announced the setting up of a new office designed to intensively coordinate the strategic reorganization of the Principality’s financial centre.
	Jersey Fiduciary Industry Conducts Mock Trial 10/21/2010 Senior members of the Jersey fiduciary sector were put through their paces at a mock trial conducted by Carey Olsen and Wilberforce Chambers, at the Pomme D'Or Hotel last week.
	Global Tax Forum Issues Peer Reviews 10/4/2010 The Global Forum on Transparency and Exchange of Information for Tax Purposes has issued the first phase of peer reviews covering the legal and regulatory frameworks for transparency and exchange of tax information in Bermuda, Botswana, Cayman Islands, India, Jamaica, Monaco, Panama and Qatar.
	Guernsey Firms Acclaimed In Latest Legal 500 9/27/2010 Guernsey law firms and lawyers have once again been highly praised in the latest Legal 500 publication, Guernsey Finance, the promotional body the island's financial services industry, has noted.
	Bermuda To Introduce Bank Deposit Guarantees 9/17/2010 The Bermuda Monetary Authority has launched a consultation on proposals for introducing deposit insurance in Bermuda.
	Jersey Foundations Attract Growing Interest 9/2/2010 Just over a year since they were launched, Jersey Foundation structures are continuing to receive a steady flow of interest, according to an offshore legal expert.
	Carey Olsen Advises On Major Jersey Acquisition 8/19/2010 Channel Islands law firm Carey Olsen has noted its advisory role in Jersey Trust Company's acquisition of specialist wealth management firm Caversham Fiduciary Services for an undisclosed sum.
	SARS Releases Responses On Budget Tax Amendments 8/4/2010 South Africa’s National Treasury and the South African Revenue Service have released a response to public comments on the draft 2010 Taxation Laws Amendment Bills.
	BVI To Amend Trust Licensing, Bank Regulation 7/22/2010 The British Virgin Islands Financial Services Commission has noted several legislative amendments that will affect entities granted licenses in respect of trusts regulated in the territory.
	HMRC Opens Window Of Opportunity For Offshore Trusts 7/14/2010 When UK Chancellor of the Exchequer George Osborne in his emergency budget increased the rate of capital gains tax from midnight on budget day (22 June) concerns were raised as to exactly how this would apply to offshore trusts.
	Appleby Offers Fiduciary Services From Guernsey 7/8/2010 Following approval by the Guernsey Financial Services Commission, Appleby is now licensed to offer fiduciary services through Appleby Trust (Guernsey) Limited. This comes after the opening of a Guernsey office in April for the provision of legal services.
	Dixcart Launches Guernsey Business Centre 7/6/2010 In response to growing demand for office space from companies wishing to demonstrate a physical presence in the jurisdiction, international professional business services organization, Dixcart has opened a new Business Centre in Guernsey.
	Australia Adds Detail To MIT Reforms 6/22/2010 Australia’s Assistant Treasurer, Nick Sherry, has announced the detail of amendments to the definition of a managed investment trust which widen the scope of trusts to benefit from taxation concessions available through the capital account and withholding tax arrangements.
	Netherlands Antilles Cooperates In Tax Crackdown 6/7/2010 The Dutch Ministry of Finance has said that the Netherlands Antilles will cooperate with third countries’ tax authorities in the fight against tax evasion.
	Offshore Law Firms Merge 6/3/2010 Mourant and Ozannes, two leading offshore law firms, have merged to create Mourant Ozannes. The merger consolidates the two firms’ legal practices in Jersey and Guernsey to create ‘a firm with unrivalled strength-in-depth and industry knowledge across the Channel Islands’.
	Caymans Warn Of HIRE Act Implications 5/11/2010 US citizens living and working in the Cayman Islands will need to familiarize themselves with new legislation that affects their tax obligations, Cayman Finance has said. The rule changes apply to all of those people living in the jurisdiction with US citizenship.
	US Seeks Comment On Foreign Account Law 4/9/2010 The US Treasury and Internal Revenue Service have issued an alert to solicit comments on the recently enacted Foreign Account Tax Compliance Act as the government sets about drawing up draft guidance for the legislation.
	Jersey To Amend Trust Company Rules 4/2/2010 The Jersey Financial Services Commission has launched a consultation on proposed changes to trust company business exemptions with regard to persons undertaking the activity of a director under the Financial Services (Jersey) Law 1998.
	Liechtenstein Disclosure Facility Failing 3/19/2010 Six months since its launch, the UK's Liechtenstein Disclosure Facility can only have had limited success, as findings from international audit, accounting and business services firm BDO show limited participation.

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