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Hong Kong Abolishes Corporate Capital Duty 5/15/2012 The Registrar of Companies, Ada L L Chung, has announced that the capital duty
currently levied on Hong Kong companies will be abolished from June 1, 2012.
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Guernsey Announces Aircraft Registry Plans 5/15/2012 The Guernsey government has announced that it has agreed with a private sector
partner to launch an aircraft registry from the island.
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Financial Crisis Hits Jersey Finance Industry Profits 5/10/2012 The Jersey government's latest statistical report shows a significant decline in the profitability and size of the nation's financial services industry since the start of the financial crisis, putting pressure on Jersey tax receipts. Recent figures for 2011, however, show modest signs of improvements.
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DIFC To Accept Credit Rating Agencies 5/10/2012 The Dubai Financial Services Authority has launched a consultation on new rules which would allow credit rating agencies to establish operations from the Dubai International Financial Centre tax-free zone.
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Offshore Merger And Acquisition Activity Rises 5/9/2012 A new report from Appleby shows that transaction values for mergers and acquisitions (M&A) in major offshore financial centers rose by 25% in the first quarter of 2012.
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Nissan Infiniti Locates Global HQ In Hong Kong 5/4/2012 Invest Hong Kong has used its recent assistance to Infiniti, Nissan
Motor’s luxury car brand, while basing its global headquarters in the city, to highlight
Hong Kong's favoured position as a preferred location for overseas multinationals.
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Insurance Ratings Agency Establishes DIFC Office 5/4/2012 A.M. Best, a leading provider of credit ratings and financial data for the insurance
industry, has received the necessary approvals to begin regional business from the Dubai International Financial Centre.
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German Cabinet Adopts Swiss Tax Deal 4/30/2012 The German cabinet has recently adopted the bill implementing the bilateral
tax agreement with Switzerland.
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Bermuda Concludes Marketing Push In China 4/26/2012 Business Bermuda, the promotional agency for the territory's financial services
industry, has concluded a week-long business development and relationship-building
trip in Shanghai and Beijing mirroring the decisions of other small,
low-tax, financial centres targeting the region as a new source of financial services growth.
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Hong Kong Confirms Business Registration Fee Waiver 4/25/2012 The Revenue (Reduction of Business Registration Fees) Order 2012,
which waives Hong Kong’s business registration fees for one year, came into
effect on April 1, 2012, the territory's Inland Revenue Department has confirmed.
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Guernsey Fund Lists On LSE 4/24/2012 A Guernsey closed-ended investment company has been used by Blue Crest Capital
Management in its Initial Public Offering of a fund on the London Stock
Exchange Main Market, advised upon by Channel Islands law firm Carey Olsen.
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Jersey Business Sentiment In The Doldrums 4/12/2012 The prevailing sentiment among Jersey business is the most negative since records began in 2009, with business activity said to have fallen significantly in the first quarter of 2012.
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IoM To Simplify Company Residency Regime 4/5/2012 The Isle of Man government has launched a consultation on a proposed legislative
change that would simplify the income tax position for companies with dual residence.
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State Street Granted Jersey Banking License 3/30/2012 The Jersey Financial Services Commission has granted State Street Corporation,
one of the world's leading provides of financial services to institutional investors,
a license to expand its offerings to include Jersey-based banking.
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Ireland Appoints 'Start-Up Ambassador' In China 3/30/2012 Enterprise Ireland has appointed an 'International Start-up Ambassador' in China as part of the government's Action Plan for Jobs 2012.
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Jersey Assesses UK Stamp Duty Measures 3/29/2012 Jersey Finance, the agency responsible for the promoting the island's finance industry,
has responded to measures in the UK budget which seek to prevent stamp duty tax avoidance on the purchase of high-value property in the UK via offshore company structures.
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Isle Of Man Targets 'Rogue Businesses' 3/23/2012 The Isle of Man government has emphasized the importance of verifying the legitimacy
of businesses which advertise offerings from the Isle of Man, after an exercise
by the government found 400 businesses operating without meeting the legislative
requirement to register with the Companies Registry.
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Switzerland, EU Discuss Tax 3/22/2012 Swiss President Eveline Widmer-Schlumpf and Federal Councillor Burkhalter have
recently met with top European Union representatives within the scope of a working
visit in Brussels, with the discussions focussing on current developments in
bilateral relations and in particular on strengthening cooperation in the area
of taxation.
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Hong Kong Gazettes Order To Eliminate Capital Duty 3/20/2012 As presaged in the 2012-13 Budget on February 1 this year, the Companies Ordinance
(Amendment of Eighth Schedule) Order 2012, to abolish Hong Kong’s capital
duty levied on local companies, has now been gazetted, Secretary for Financial Services and the Treasury Prof. KC Chan has announced.
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Interest In Guernsey As A Film Finance Centre Grows 3/16/2012 Guernsey's latest London seminar, to showcase the island's offerings as a leading
international film finance centre, has been hailed a success after attracting
an audience of over 100 senior members of the UK film community.
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BC To Introduce 'Social Enterprise' Company Form 3/12/2012 Changes to British Columbian legislation will allow for the introduction of a new hybrid type of company, the community contribution company.
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Mixed Fortunes For Cayman Finance Industry 3/1/2012 The Cayman Islands' Economics and Statistics Office has reported that the island's economy began to recover from the economic downturn during the first nine months of 2011, with growth of 1.2% year-on-year recorded, compared to a contraction of 5.8% in the same period a year earlier. However, the financial services sector continues to see mixed results.
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Jersey Planning Permission Changes To Benefit Businesses 2/23/2012 New draft planning guidance is being considered by the Jersey government, which,
if approved, will provide greater protection for businesses with premises and
land holdings on the island.
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Another Solid Year For The DIFC 2/23/2012 Despite the impact of the European debt crisis, the global economic downturn and political turmoil in certain parts of the region, the Dubai International Financial Centre continues to strengthen its position as the leading international financial centre in the region.
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First Jersey Firm Lists On NYSE 2/10/2012 Delphi Automotive PLC has become the first Jersey company to have its shares directly
listed on the New York Shock Exchange, having been advised on its initial public
offering by Channel Islands law firm Carey Olsen.
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India Likely To Change Tax Law After Vodafone Case 2/6/2012 The Indian government is planning to include additional provisions in the forthcoming Direct Taxes Code in an attempt to avoid future court clashes with multinational companies like Vodafone.
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Mourant Ozannes Opens Hong Kong Office 2/3/2012 Leading offshore law firm, Mourant Ozannes, has opened an office in Hong Kong
to provide clients and intermediaries with access to the firm's offshore legal
services in an Asian time zone.
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E-Gaming Giant Applies For Jersey License 2/3/2012 The Jersey Gambling Commission has welcomed the application of Playtech, one of
the world's leading eGaming software and content specialists, for a Remote Gambling
licence.
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Guernsey Remains Leader In Non-UK Listings 1/27/2012 Guernsey remains home to more non-UK entities listed on the London Stock Exchange than any other jurisdiction globally, according to figures from the market
authority.
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New Cooperatives Legislation Outlined For The UK 1/25/2012 The UK is to consolidate its legislation on co-operatives and mutuals into a single statute, the Prime Minister has said.
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Ireland Launches Immigrant Investor Programme 1/26/2012 The Irish government is to introduce two major new immigration initiatives aimed at encouraging non-European migrant entrepreneurs and investors.
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Guernsey Outlines 2012 Financial Sector Agenda 1/25/2012 Guernsey's Commerce and Employment Department has outlined its agenda for the
forthcoming year, which includes concluding legislative programs to allow for
the creation of Limited Liability Partnerships, Limited Partnerships and Foundations
in Guernsey.
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Guernsey Reports Inflow Of Insurance Companies 1/18/2012 The number of insurance licenses issued in Guernsey last year rose more than
50% compared to the previous 12 months, the Guernsey Finance Services Commission has reported.
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Malta Finance Centre In Good Shape 1/18/2012 Malta's efforts to establish itself as a dynamic, cost-efficient, financial services domicile is paying dividends, according to promotional agency MaltaFinance, which has highlighted that each of the island's financial services sectors, insurance, banking, trusts and funds, recorded solid performance during 2011.
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Jersey Ups Promotion In India 1/12/2012 Jersey Finance has undertaken further promotional activity in India this month
following the signing of a Tax Information Exchange Agreement with the territory
in November to strengthen business ties.
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Double-Digit Growth For Manx Shipping Registry 1/12/2012 The Isle of Man Ship Registry has reported that Gross Registered Tonnage increased
by 12% over 2011, evidence that
vessel registration in the Isle of Man continues to be in high demand.
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Guernsey Structure Employed In UK Mortgage Scheme 1/12/2012 Guernsey’s Protected Cell Company legislation will be used to create an insurance company which will underpin a new scheme being introduced in the United Kingdom to allow lenders to offer larger mortgages to home buyers.
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Hong Kong Company Registrations Hit New Record 1/10/2012 The number of local companies newly registered with the Hong Kong Companies Registry in 2011 hit a record high of 148,329, an increase of 6.31% from 2010, as business owners rushed to take advantage of a registration fee waiver scheme which expired in August.
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Centamin Shifts Tax Residency To Jersey 1/4/2012 On December 30, 2011, Centamin Egypt Limited successfully migrated its corporate
headquarters to Jersey from Australia, through the establishment of a Jersey holding
company with advice from Channel Islands law firm Ogier.
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Cayman Special Economic Zone Opens Up 1/4/2012 The Premier of the Cayman Islands, McKeeva Bush, in his new year's address, has
noted that the territory is to attract additional investment as a result of the
Cayman Enterprise City - the first special economic zone in the Caribbean - due
to begin admitting companies this month.
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Gibraltar To Redraft Companies Act 12/29/2011 The Gibraltar government has commissioned a draft bill to replace the territory's Companies Act, which dates back to the year 1930.
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Jersey Structure Employed In Polymetal's LSE Listing 12/23/2011 Channel Islands law firm Carey Olsen has advised Polymetal International, the
largest silver and fourth-largest gold extraction company in Russia, and one of
the top five primary silver extraction companies worldwide, on the Jersey aspects
of its listing on the main market of the London Stock Exchange.
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BVI Business Activity Rises 12/21/2011 The British Virgin Islands Financial Services Commission has published statistics on the islands' financial
services industry for the second and third quarters of 2011, showing that business activity has increased this year.
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IoM Hosts Chinese Entrepreneurs 12/19/2011 The Isle of Man government on December 3, 2011, played host to a select number
of high net-worth Chinese entrepreneurs as part of the territory's efforts to
promote itself as a leading international financial centre.
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IoM Welcomes New Gambling Operator 12/15/2011 The Isle of Man's Department for Economic Development has welcomed the launch
of TradaCasino's online operations from the territory.
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Jersey Reports Healthy Finance Industry 12/14/2011 Jersey has welcomed the 'stable overall growth' achieved in the third quarter for the island's financial services industry, with the value of funds under administration in the jurisdiction growing to reach its highest level since June 2009.
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IoM Targets Unregistered Businesses 12/9/2011 The Isle of Man's Department for Economic Development has urged business owners
that have yet to register their company to do so on the Department's Companies
Registry, as required under law in the Isle of Man.
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Jersey Litigation Fund Breaks New Ground 12/5/2011 Offshore law firm Carey Olsen has broken new ground with the first ever listing of a litigation fund
on the Channel Islands Stock Exchange after it advised Argentum Capital
Limited on the Jersey legal aspects of its multimillion-pound listing.
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DMCC Welcomes Rise In Company Formations 11/24/2011 The Dubai Multi Commodities Centre Authority, the licensing body for the Jumeirah Lakes Towers Free Zone, has registered more than 1,000 new companies in the past 10months.
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Malta Consults On New ICC Structures 11/22/2011 The Malta Financial Services Authority has published a consultation document on
draft Regulations that would govern the proposed introduction of Recognised Incorporated
Cell Companies as an alternative to the Société d'Investissement À Capital Variable incorporated cell company form.
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Gibraltar's Tax Sovereignty 'Unaffected' By EU Ruling 11/21/2011 A recent ruling from the European Court of Justice has been welcomed by the Gibraltar government as confirming the territory's right to have a tax regime different from that of the United Kingdom's.
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Isle of Man Set To Introduce Foundations 11/18/2011 The Isle of Man's Treasury Minister Eddie Teare has welcomed the announcement of
Royal Assent to new legislation
that would permit the establishment of foundations in the territory, enhancing
its position as a centre for international wealth management.
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Guernsey Selected To Facilitate USD6.3bn Leveraged Buyout 11/17/2011 A number of Guernsey investment vehicles were employed in the structuring of the
major, USD6.3bn acquisition of Kinetic Concepts Inc by a consortium of investment
funds.
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IOM Promotes Island's Captive Insurance Capabilities 11/8/2011 The Isle of Man Captive Association recently attended the Federation of European
Risk Management Association Conference in Stockholm as part of ongoing
efforts to promote the island as the captive insurance domicile of choice.
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Cayman Captive Insurance Market Grows 11/3/2011 The Cayman Islands Monetary Authority has reported a 93% increase in captive insurance company formations during the first nine months of 2011 compared to the same period in 2010.
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Labuan Gives Tax Incentives For Oil And Gas Trading 11/2/2011 At the launch of the Global Incentives for Trading programme and the newly-formed
Labuan International Trading Commodity Company, the Director-General of
Labuan Financial Services Authority Encik Ahmad Hizzad Baharuddin announced
that a range of incentives have been initiated to attract oil and gas traders
to Malaysia.
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Ireland Launches International Start-Up Fund 11/2/2011 The Irish government has launched a EUR10m International Start-Up Fund, aimed at encouraging overseas entrepreneurs to locate start-up businesses in Ireland.
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IoM Forges Stronger Commercial Ties With UAE 10/24/2011 Important business relationships were enhanced on a recent visit to Dubai and
Abu Dhabi by the Isle of Man's Department of Economic Development.
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Anguilla Praised On Tax Transparency 10/24/2011 The efforts of Caribbean territory Anguilla over transparency
and tax information exchange were recognised in the positive peer review report from the Organization
for Economic and Cooperation Development now adopted by the Global Forum.
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Luxembourg Gives Boost To Financial Centre In Asia 10/20/2011 Determined to reinforce the Luxembourg financial centre in markets experiencing
strong economic growth, Luxembourg’s Finance Minister Luc Frieden is currently
on a visit to Asia to promote the financial centre.
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New Zealand To Tighten Company Rules 10/17/2011 A bill that tightens rules around company directors and company registration has been introduced to the New Zealand Parliament by Commerce Minister Simon Power.
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Guernsey To Push Ahead With Aircraft Registry 10/17/2011 Guernsey is to push ahead with plans to establish an aircraft registry as a way
of diversifying the island's economy after proposals for a joint Channel Islands registry received little support from Guernsey lawmakers.
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Hong Kong To Boost Its Regulatory Regime 10/14/2011 In his 2011-12 Policy Address, Chief Executive Donald Tsang disclosed that, by
enhancing its regulatory regime, the government hopes to attract more companies
to Hong Kong from Europe, the United States and emerging markets and, thereby,
broaden listings on the Hong Kong Stock Exchange.
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Guernsey, Luxembourg Explore Fund Sector Synergies 10/12/2011 A team from Guernsey’s fund industry hosted an event in Luxembourg last
month aimed at boosting cooperation between the two jurisdictions, discussing
ways in which service providers in the two centres can work together more effectively
for mutual benefit.
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Switzerland Reaches Out To Over-Taxed HNWIs 10/6/2011 Swiss cities including Bern, Lausanne, Lugarno and Lucerne have launched a new marketing campaign promoting the low taxes and the business benefits of moving to Switzerland, targeting UK companies and wealthy individuals suffering from a serious case of the fiscal blues.
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Isle Of Man Eyes Second Casino Complex 9/29/2011 The Isle of Man Department of Economic Development is seeking expressions of interest
from the private sector on partnering with the government to establish a five-star
hotel and casino complex on the island, to attract visitors and boost tax revenues.
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Merger Creates Guernsey Fund Administration Powerhouse 9/26/2011 Two Guernsey firms have announced that they are to merge to create the largest
independent fund administration business in the island.
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IoM Introduces Incorporated Cell Company Form 9/15/2011 Financial services providers and prospective captive insurers in the Isle of Man
will benefit from new incorporated cell companies legislation being introduced
by the Isle of Man government.
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Implementation Of Caribbean Companies Registry Begins 9/9/2011 Antigua and Barbuda has become the first territory to implement the
Caribbean Community Online Company
Registration System, due to be rolled out across members of the Caribbean Single Market Economy by the end of the year.
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First Incorporated Limited Partnership Formed In Jersey 9/9/2011 Ogier Jersey has acted as advisor in relation to the establishment of the first
incorporated limited partnership in Jersey, Invescap (Villette) ILP, which invests in UK commercial
real estate.
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Jersey Reports Fund Industry Growth 9/7/2011 Jersey’s finance industry showed stable growth in the second quarter
of 2011, with the value of funds administered in the island reaching its highest
level for two years and the value of funds under management increasing by 4.2%.
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Asia-Based Incorporation Specialist Expands Into Europe 9/8/2011 Offshore Incorporations Limited, a leading global company formation specialist based in Asia, has announced the opening of its first European office, in London, to support a growing number of Asia-based companies investing in Europe.
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Bermuda Reminds Insurers Of Reclassification Requirement 9/5/2011 Following guidance released previously, the Bermuda Monetary Authority has reminded those companies operating as Long-Term Insurers to comply with the requirements of the Insurance Amendment (No. 3) Act of 2010 by submitting paperwork to be reclassified.
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Cyprus Parliament Adopts Amended Austerity Package 9/1/2011 Cypriot lawmakers have approved the first of two sets of austerity measures with
significant alterations, as part of the government's efforts to agree a credible
plan to reduce the country's deficit to avoid an EU-funded bailout and calm bond markets.
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Bermuda Insurance Company Registrations Up 8/29/2011 The pace of insurance company registration in Bermuda has picked up, bolstered in the main by a rise in special purpose insurers.
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Jersey To Widen Fund Prospectus Rules 8/19/2011 The Jersey Financial Services Commission has published feedback on two consultations, on Certified Fund Prospectuses, and on Codes of Practice
for Certified Funds, both issued in 2009.
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Mourant Ozannes Advises On USD13bn Reverse Takeover 8/16/2011 Mourant Ozannes has acted as sole Jersey legal adviser to KazakhGold Group
Limited and OJSC Polyus Gold, the largest gold producer in Russia, in the combination
of the two companies.
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Enterprise Ireland Start-Up Programme A Success 8/11/2011 The Irish government is supporting the creation of hundreds of new jobs through a start up programme, designed to help rebuild the economy and boost domestic growth.
|
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UK Consults On Mandatory Online VAT Returns 8/11/2011 The UK is pressing forward with the digitization of its tax system, with HM Revenue and Customs announcing plans to make online value-added tax filing, payment and registration mandatory in the coming year.
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Labour Slam NI Holiday Scheme For High Cost, Low Take Up 8/3/2011 The UK Labour Party has attacked the government's 'flagship policy' of a national insurance holiday, arguing that the scheme costs more to run than it has generated in new business and job creation.
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Company Formations Boost Cayman Economy 8/2/2011 The Cayman Islands economy exceeded growth estimates for the first quarter of 2011, bolstered by higher levels of tourism and company formation.
|
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UK Implements New Prospectus Directive Rules 8/3/2011 The UK has accelerated its implementation of key new European Union deregulatory measures with the hope of helping small businesses access equity finance more cheaply and effectively.
|
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Guernsey Firm Pioneers Aircraft Leasing Venture 8/3/2011 Another new Guernsey company has for the first time been listed on the London Stock Exchange offering investment in A380 aircraft operated by Emirates.
|
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Virgin Considers Swiss Tax Move 7/29/2011 In a tax-blow to the UK exchequer, the Virgin Group is planning
to shift a portion of its operations to Switzerland to maximize tax efficiency.
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Hong Kong Companies Now Total Over 900,000 7/20/2011 According to figures released by the Company Registry, the number of companies registered
in Hong Kong at the end of June this year reached above 900,000.
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Bermuda Issues Q1 Financial Services Data 7/15/2011 The Bermuda Monetary Authority has released its latest regulatory update, containing figures for the first quarter of 2011, and providing year-on-year statistics in respect of the island's financial services industry.
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Jersey Company Used For Major London Listing 7/11/2011 Mourant Ozannes has advised Vallares plc, a Jersey company, on its flotation
on the Main Market of the London Stock Exchange, which raised GBP1.35bn (USD2.15bn) –
the second largest such flotation this year, just seven days after making an
announcement that it intended to launch an initial public offering.
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Kolar Gold Chooses Guernsey Base 7/5/2011 Channel Islands legal services provider, Carey Olsen has advised Kolar Gold on the Guernsey
aspects of its listing on the AIM Market of the London Stock Exchange.
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IoM Clean Tech Industry Poised To Expand 7/4/2011 A survey from the Isle of Man's Department of Economic Development has shown
that the island’s clean tech sector is fast becoming a leading contributor
to the Isle of Man economy, and is projected to double in size by 2014.
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Hong Kong FDI Soars 7/4/2011 Hong Kong’s Chief Executive Donald Tsang has hosted a cocktail reception,
attended by about 350 top executives at an annual event of Invest Hong Kong,
to thank the overseas and Chinese investors that have set up or expanded in the
city during the past year.
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Carey Olsen Advises On 'Pioneering' Offshore Restructuring 6/22/2011 Carey Olsen has been involved in a pioneering deal to move an international
industrial services business from London's Alternative Investment Market to the London Stock Exchange
main market.
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Singapore Reviews Companies Act 6/23/2011 Singapore’s Ministry of Finance and the Accounting and Corporate Regulatory
Authority have invited public feedback on the final report of the Steering
Committee that has been reviewing the Companies Act, and on a review of the regulatory
framework for foreign entities in Singapore.
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Kane Group Expands Presence In Guernsey 6/17/2011 Kane Group has announced the completion of the strategic acquisition of HSBC
Insurance Management, which will extend its presence in Guernsey.
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Jersey, Israel Explore Business Synergies 5/26/2011 A high level delegation from Jersey visited Israel as part of a three-day visit, concluding on May 24,
to promote the island and drum up interest from businesses and individuals in
investing in the island.
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TMX Rejects Maple Takeover Bid 5/25/2011 A merger deal between the operators of the London and Toronto Stock Exchanges looks set to go ahead, with the TMX Group rejecting a rival acquisition proposal from the Canadian business consortium Maple.
|
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Guernsey Woos Russian Investors 5/9/2011 A delegation from Guernsey's finance industry is to visit Moscow during May
to investigate potential opportunities to develop business synergies between
the two financial centres.
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Onshore Domiciles Attract Captive Formation 5/6/2011 Companies are increasingly looking to onshore US domiciles when choosing to form captive insurance firms, the aggregate premium levels of which have increased substantially, according to a new report by the insurance broker and risk adviser Marsh.
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Bermuda Open For Islamic Investment 5/5/2011 The Bermuda Monetary Authority has released a set of guidelines outlining the regulatory requirements necessary for the establishment of Islamic investment funds in Bermuda, designed to promote understanding, compliance and investment levels.
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Cayman Islands Amends Companies Law 5/2/2011 Following a significant consultation process, the Cayman Islands is to amend its Companies Law, with a view to enhancing the competitiveness of its financial services industry.
|
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Guernsey Foundations Set For 2012 Introduction, Consultation Begins 4/29/2011 Guernsey's Commerce and Employment Department has launched a six-week
consultation on the proposed new foundations law.
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