Unravelling
complexity.

This Q&A provides an overview of some of the key points of international arbitration in the British Virgin Islands.

It is almost impossible to avoid the noise surrounding virtual assets in recent years. Therefore, it is inevitable that Cayman Islands insolvency practitioners (IPs) will have to grapple with the concept as they become a more prevalent asset class. The purpose of this article is to provide a high level overview of some key considerations for IPs to bear in mind as they seek to realise value in an estate with a virtual element.

A private fund that has not yet received capital contributions from investors is not required to file audited accounts or returns with CIMA. A recent amendment to the regulations now requires the operator of such a private fund to make a simple declaration to this effect.

In late March 2021 the FATF launched a public consultation on updating its “Guidance for a Risk-Based Approach – Virtual Assets and Virtual Asset Service Providers” (the Guidance) originally published in June 2019.

The Private Funding of Legal Services Act is expected to come into force in the Cayman Islands in the very near future, having been approved by parliament in December 2020. The act will mark a significant development in the legal services industry, bringing certainty and clarity to the availability of alternative means of funding disputes in the jurisdiction.

There is no getting away from it: Cyprus is the black sheep of the EU flock at the moment as far as mandatory tax disclosures are concerned. It remains the last bastion of the Union which has yet to implement DAC6, for the time being, anyway. This article explores how Cyprus got to this point and what it means for stakeholders potentially affected by DAC6.