June 25, 2018

Overseas territories react to UK legislation requiring public disclosure of beneficial ownership

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From Caribbean News Now PROVIDENCIALES, TCI — Following Tuesday’s decision by Britain’s House of Commons to force the Overseas Territories (OTs) to adopt public registers of beneficial ownership of companies, regional governments have responded vigorously to the development, with some calling for a different, more empowering relationship with the UK. The Sanctions and Anti-Money Laundering […]

Jersey: Island faces crisis over UK threat to finance industry

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From Jersey Evening Post Chief Minister Ian Gorst has said that Jersey would resist any such interference in Island affairs. Labour MP Dame Margaret Hodge has lodged an amendment to the UK’s Sanctions and Anti-Money Laundering Bill calling for a fully transparent and public register of beneficial ownership – which would reveal who actually owns […]

Anthony Travers: The EU and the ‘new 21st century colonialism’

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By: Anthony Travers, OBE, Travers Thorp Alberga |From International Investment Responding to public and media pressure brought on by the so-called Panama and Paradise papers exposés, the European Union has been compiling, tweaking and talking for months about its “blacklist” of “non-compliant” jurisdictions. On 5 December, it published a working list of some 17 jurisdictions, […]

The UKTreasury Sub-Committee launches inquiry into tax avoidance and evasion

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From Parliament UK Tax Avoidance and Evasion inquiry Inquiry status: open The deadline for written submissions is Thursday 31 May 2018 Scope of the inquiry In recent years, HMRC has taken steps to address public concerns about the actions of individuals and businesses determined not to pay their fair share of tax. It has launched […]

Global Financial Centres Index 23 ranks Cayman Islands among top 25 best financial centres in the world, one of only four such jurisdictions from outside the G20

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Jude Scott, CEO of Cayman Finance, issued the following statement about the new release of the twenty-third edition of the Global Financial Centres Index (GFCI 23), which ranked the Cayman Islands as the 22nd best financial centre in the world out of 110 total jurisdictions. Cayman’s ranking was an improvement of 9 places over the […]

Global Financial Centres Index 22 again rates Cayman Islands among Leading ‘G20 Plus’ jurisdictions

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Jude Scott, CEO of Cayman Finance, issued the following statement about the new release of the twenty second edition of the Global Financial Centres Index (GFCI 22), which ranked the Cayman Islands once again as the 31st best financial centre in the world out of 108 total jurisdictions.  Cayman’s ranking was the second highest among […]

Message from RT Hon John Hayes CBE MP to delegates to the Red Ensign Conference

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Message from RT Hon John Hayes CBE MP to delegates to the Red Ensign Conference 11 July 2017 [Your Excellency, Chief Minister, Honourable Ministers, fellow delegates, ladies and gentleman.] On behalf of all delegates, I would like to thank the Government of the Cayman Islands for hosting this year’s Red Ensign Conference, and for the […]

BVI announces position on beneficial ownership information exchange

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From Caribbean News Now ROAD TOWN, BVI — As the anti-corruption summit was taking place in London, the British Virgin Islands put forward its proposal for a workable solution for global standards for beneficial ownership, which balances the need for both appropriate levels of privacy and transparency. It is focused on three key pillars – […]

British-led tax reporting scheme branded hypocritical by campaign groups

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From Sputnik British Chancellor George Osborne has been accused of hypocrisy after unveiling an agreement with Germany, France, Italy and Spain that will see tax and law enforcement agencies from the five countries exchange data on company beneficial ownership registers and new registers of trusts. The proposal — by interlinking country registries — will provide, […]

Cayman Islands: Premier’s and Chief Officer’s statements, Beneficial Ownership Press Conference

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Cayman, UK to Enhance Sharing of Beneficial Ownership Information Press Conference By Premier Hon. Alden McLaughlin, MBE, JP, MLA 10 a.m., Monday 11 April, 2016 Good morning and thank you for joining us today. Before we begin, on behalf of the entire Government and the Progressives I offer condolences to the Leader of the Opposition, […]