Offshore Financial Centre

Offshore Financial Centre

Vanuatu blacklisted by EU: Neo-colonialism or justified?

Recently, the small South Pacific island nation of Vanuatu found itself placed on a taxation blacklist by the European Union (EU) along with 14...

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...

The ‘useful purpose’ of offshore financial centers

Recently, 355 economists signed a letter co-ordinated by Oxfam arguing that tax havens have “no useful purpose.” There is a history in the U.K....
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Do ‘economic substance’ tests have any substance?

The European Union, through its Code of Conduct Group on Business Taxation, is drawing up a blacklist of “non-cooperative jurisdictions” that will be subject...

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...
Malta

A review of the world’s offshore financial centers: Malta

In this third article in a series about the world’s premier offshore financial centers we look at the Mediterranean island of Malta. In large part...

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...

Offshore community should prepare for rough U.S. election season

The 2016 U.S. presidential campaign has been anything but ordinary. Barring any last minute surprises, it is set to feature the two most disliked...

The US as the world’s newest IFC and its impact on the Caribbean

During the last decade or so, the status of the U.S. as a superpower has enabled it to increasingly obtain market share from other...

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....

Push for beneficial ownership register gaining steam in the US

The United States company formation sector dwarfs that in the offshore financial services industry. Some 1.3 million entities are incorporated in Delaware alone –...

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...

Independent directors – governance trends

Independent directors have become synonymous with offshore investment funds, in particular, hedge funds, in a trend driven squarely by investors looking for greater oversight...
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Swiss review of corporate taxation: a typical Swiss consensus story

For the first time in its history, Switzerland will review its corporate taxation not for internal reasons but in response to international pressure. Switzerland has...
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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...

Regulatory, international cooperation compliance and law enforcement overreach: An emerging issue in Caribbean financial...

For several years now, I have been writing of my concerns regarding the conduct of regulatory, international cooperation compliance bodies and law enforcement agencies...
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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...

British Overseas Territories in the Caribbean agree to central registries of beneficial ownership information...

At the recently concluded Dec. 1-2, 2015 Joint Ministerial Council (JMC) in London, held with the UK Minister for the Overseas Territories, James Duddridge...

R.I.P.? Dying to close an offshore account

The FBAR, the Financial Crimes Enforcement Network (FinCEN) Form 114, was developed by the U.S. Department of the Treasury to collect and analyze information...

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...
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