Unravelling
complexity.

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Unravelling Complexity

20 Results

Offshore information: more than expected
Litigation and Insolvency

Offshore information: more than expected

Contrary to the commonly-held misconception of offshore jurisdictions as secretive black holes of information, in reality, the major offshore jurisdictions of Bermuda, BVI and the Cayman Islands maintain a host of information on companies, trusts and other structures, which is available to sufficiently interested third parties. This article, first published in Latinvex, considers what information can be obtained in these jurisdictions by the general public, private litigants and foreign bankruptcy appointees. As will be seen, asset-tracers will be well-advised to take advantage of the wealth of information on offer in these jurisdictions at an early stage of any investigation.
Is it time to push the envelope (or unwind the trust)?
Corporate

Is it time to push the envelope (or unwind the trust)?

The UK Government has, over the past few years, substantially revised the tax rules relating to the ownership of residential property in the United Kingdom held indirectly by non-domiciled individuals or excluded property trusts.
Executing documents electronically

Executing documents electronically

As much of the world is working from home during the Covid-19 pandemic, one of the issues which comes sharply into focus is how people execute contracts in a stay-at-home world. This note tries to set out the basic “do”s and “don’t”s in relation to using technology for document handling under BVI and Cayman law.
Creation of INSTEX to facilitate legitimate trade between the EU and Iran
Regulatory and Tax

Creation of INSTEX to facilitate legitimate trade between the EU and Iran

On 31 January 2019, France, Germany and the United Kingdom, following the commitment to preserve the Joint Comprehensive Plan of Action which was endorsed through resolution 2231 (United Nations), announced the creation of the Instrument for Supporting Trade Exchanges, a special purpose vehicle designed with the intention of facilitating legitimate trade between the European Union and the Islamic Republic of Iran.
Chemical Weapons Sanctions for Overseas Territories Order 2018
Regulatory and Tax

Chemical Weapons Sanctions for Overseas Territories Order 2018

The Chemical Weapons (Sanctions) (Overseas Territories) Order 2018 (the OT Order) was made on 12 December 2018 and came into force on 9 January 2019. The OT Order is directly relevant to and applies in Anguilla, the British Virgin Islands and the Cayman Islands.
Do UK Territories need beneficial ownership info registers?
Regulatory and Tax

Do UK Territories need beneficial ownership info registers?

Within its 65 sections, the Sanctions and Anti-Money Laundering Act covers two subjects: All but three sections provide for a framework of sanctions implementation in the UK following Brexit. The remaining three sections, precisely sections 49 to 51, deal with discrete anti-money laundering issues, most controversially including the proposed introduction of publicly accessible registers of beneficial ownership information on companies in the UK overseas territories. In this article, published by Law 360, Aki Corsoni-Husain addresses why the UK has Legislated for the UK overseas territories, what the requirements will be, and what will happen next.