27. Nov 2019
Inside the approved manager regime in BVI
Since the Approved Manager Regulations were implemented in the BVI in 2012, smaller managers seeking a more simplified approval process and lighter touch regulatory framework compared to the Securities and Investment Business Act (‘SIBA’) have really benefited.
01. Nov 2019
Update on recent legislative changes in the Cayman Islands
During 2019 the Cayman Islands has made a tremendous push to become internationally compliant with numerous laws in Cayman being amended and/or enacted to give effect to such changes. We have highlighted some of the important changes taking place in the Cayman Islands.
27. Sep 2019
BVI Economic Substance Update
BVI Finance recently provided an update in relation to the current positon in relation to the Economic Substance Legislation. The key points to come out of the update, in summary, are as follows
01. Jul 2019
Designation/ appointment of MLRO, DMLRO and AMLCO for funds and investment entities
On July 19th, 2018 the Cayman Islands Monetary Authority (CIMA) released a list of FAQs focusing on the requirement for all relevant financial businesses (RFB) in the Cayman Islands to appoint an Anti-Money Laundering Compliance Officer, Money Laundering Reporting Officer, and Deputy Money Laundering Reporting Officer
04. Mar 2019
EU Substance (Companies and Limited Partnerships) Act, 2018
On January 1, 2019, the Economic Substance (Companies and Limited Partnerships) Act, 2018 (the "Act") came into force and applies to all resident BVI companies and Limited Partnerships. Companies that are within the scope of the legislation will need to demonstrate that they have economic substance in the British Virgin Islands.