Offshore Financial Centre

Offshore Financial Centre

OECD and EU target citizenship and residency-by-investment programs

The Organisation of Economic Cooperation and Development and the European Union have targeted citizenship-by-investment (CBI) and residency-by-investment (RBI) programs. Most Caribbean jurisdictions have either...

Squaring the circle: How Singapore’s latest budget tries to balance spending growth with...

On Feb. 19, Singapore’s Minister of Finance Heng Swee Keat delivered the nation’s budget for 2018. While budget speeches are typically uneventful, this year’s...
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Hurricane Irma pounds Anguilla

At 8 a.m. Atlantic Standard Time on Sept. 6, 2017, the National Hurricane Centre in Miami posted its usual intermediary advisory with the headline...

External regulatory developments continue to plague Caribbean financial centers

Caribbean international financial service jurisdictions must continue to deal with several external factors as they conduct business. Many of these developments pose challenges to...

Five facts about the BVI that shouldn’t have come as a surprise

The British Virgin Islands cover a geographical area of 152 square kilometers and are home to around 30,000 people – plus a major international...

BVI banking on remedy for struggling financial sector: Bank of Asia could turn around...

At a business conference in the British Virgin Islands in January 2016, Hong Kong-based businessman Carson Wen and his then-partner, Chad Holm, publicly presented...

Confidence, not confidentiality, is the key to a healthy future for IFCs

Whether or not it could fairly be said anymore that a career offshore, rather than simply a career-building stint offshore, is to take the...
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The offshore future is bright

During a recent STEP Caribbean conference in Grand Cayman, Tim Ridley, past chairman of the Cayman Islands Monetary Authority, listed the attributes that will...

Antigua and Dominica make changes to diplomatic passports as proper regulation of citizenship-by-investment continues...

In 2017, Antigua and Barbuda and Dominica have made changes to the operation of diplomatic passports while the St. Kitts government continues to debate...

Friar Tuck Ltd, Quiver Inc and International Tax Authority: A British Virgin Islands’ decision...

For several years now, some of us in the financial services industry have lamented the plethora of legislation which has been foisted on jurisdictions,...

Caribbean IFCs: Where to now?

Over the past two decades, various international cross-border and regulatory initiatives have been the catalyst for significant changes to the regulatory framework of international...

Panama Papers: cui bono?

When you visit the Offshore Leaks Database from The International Consortium of Investigative Journalists (ICIJ), you will find a legal disclaimer that reads as...
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President Trump and the financial industry in the Cayman Islands – threats and opportunities

On Nov. 8, 2016, the world took a step into the unknown when the U.S. electorate determined that Donald Trump would be the 45th...

Anguilla’s banking saga continues: ECCB found not to have legal authority to take control...

Regular readers may remember my 2016 article  in which I detailed the failure of Anguilla’s two indigenous banks, i.e., the National Bank of Anguilla...

The impact of the Panama Papers

In contrast to the coverage of the Panama Papers, professionals in many offshore financial centers might argue that there are significant differences between offshore...

Sergeeva v Tripleton International Limited – appeals decision with far-reaching consequences

On the Aug. 23, 2016, the Eleventh Circuit of the U.S. Court of Appeals handed down its decision in Sergeeva v Tripleton International Limited....

Correspondent banking: The ‘de-risking’ phenomenon

In the face of the constant changes and challenges caused by the imposition of global regulations and anti-tax competition initiatives, Caribbean IFCs continue to...

Titan International Securities Inc v The Attorney General of Belize: a decision at first...

On Jan. 15, 2016, Justice Courtney Abel of the Supreme Court of Belize handed down a decision which should be read across Caribbean IFCs,...

Crackdown on multinationals down under

Against a background of persistent budget deficits and an ever-growing Australian national debt, multinationals have become a convenient target of the Australian Treasury and...

Cyprus is open for business

In the 50 years since independence in 1960 from the British, who left behind a strong institutional legacy including a solid public administration, Cyprus...