Managers of Wealth

Bridging loans and Switzerland’s fiscal support package for entrepreneurs and corporate entities

The main argument was that the cost of the entity can come at a premium compared to locations like Cyprus the Netherlands and Luxembourg.

Why gold is the dollar’s only real challenger among global currencies

While the greenback is set to remain strong in the short term, its purchasing power may diminish if excessive stimulus measures continue

Report points to 'hard-core' group behind tax avoidance

The information gathered in 2017 showed the tax avoidance sector was being maintained by a "hard-core" group of as many as 20 promoters with a "long history of operation" in the UK and who were well known to HMRC.

Keith Robinson elected as Fellow of the American College of Trust and Estate Counsel

Keith is one of only two Bermuda lawyers who have been elected as international fellows of ACTEC

Tax avoidance products ‘in decline’ across the UK

But taxman’s clampdown could see legitimate planning hit as ‘collateral damage’

UBS Appeal in $4.9 Billion French Tax Case Delayed Amid Virus

A new date for the case will be set at a court hearing later this year.

The impact of the global lockdown on corporate debt restructuring and trustees

Trustees would need to have suitable indemnities and legal counsel opinions in order to get comfortable with the meeting.

Record year for money laundering tip-offs

At the beginning of 2020, the office introduced a new online systemexternal link for submitting reports.

EU pushes to ‘phase out’ Malta’s citizenship scheme

Citizenship sale schemes posed money-laundering and corruption risks

UK taxman offers no quarter to offshore asset holders

HMRC allowed relief to all taxpayers affected by coronavirus but not those with assets abroad

Duties and Liabilities of Directors of Bermuda Companies

The duties of a director of a Bermuda company apply equally to all directors howsoever appointed.

Corporate Governance During Covid-19

The director remains under an ongoing duty to supervise the performance of the delegated power

CRS And FATCA Update

We have summarised the key updates below which Cayman Financial Institutions (Cayman FIs) need to be aware of

COVID-19 and tax residency

In early April 2020, the OECD released their guidance (PDF 327 KB) on how certain issues dealt with under the model OECD tax treaty will be affected by COVID-19

Cayman Islands: Change in Definition of Beneficial Ownership

The deadline for beneficial ownership filings has been further extended to 15 May 2020

Trusts and insolvency - a guide

To determine whether a trust is or is not insolvent, the cash-flow test applies, namely the inability of the trustee to meet its debts as trustee as they fall due out of the trust property.

Zedra’s CEO, Ivo Hemelraad explores the ways the Coronavirus has changed business and what we might expect next

It was a natural priority for us to focus on employee wellbeing, putting our team’s health at the centre of our response.

Old and new rules suggest coronavirus initiatives for private foundations

Discussed below are some situations where existing law creates opportunities for foundations fighting COVID-19.

IRS Issues Relief to Foreigners Stranded in the United States due to Coronavirus

US tax resident status brings with it taxation and reporting of worldwide income, as well as the risk of a potential US tax bill for (otherwise non-US) employer earnings or for foreign, non-US companies controlled by these potential “accidental&

CySEC issues guidance on completing the due diligence procedures after the commencement of a business relationship

CySEC sets out the parameters in which regulated entities are permitted to make use of this exception.

Legal,Regulation,Tax & Compliance