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Private Client & Offshore Services

09 July 2020
James Heinicke Bank regulatory update

Cayman Islands - Ogier

The COVID-19 pandemic has triggered a number of operational and administrative challenges across the global legal and economic landscape. This article summarises some of the latest developments and the key issues relevant to financial institutions with legal and regulatory links to the Cayman Islands, including the validity and enforceability of electronic signatures and the Cayman Islands advisory on anti-money laundering and countering the financing of terrorism compliance.

Authors: James Heinicke, James Lydeard, Cornelia Zhu
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Michelle Watson Bunn National risk assessment: implications for businesses

Guernsey - Ogier

In January 2020 the Bailiwick published its national risk assessment (NRA), which identifies jurisdiction-wide and systemic risks to which its financial system is deemed particularly vulnerable. Individual specified businesses were initially given until the end of May 2020 to update their business risk assessments in light of the NRA, but some timeframes have been extended in response to the COVID-19 pandemic. This article examines the contents of the NRA and the implications for specified businesses in the Bailiwick.

Author: Michelle Watson Bunn
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Rishabh Shroff CBDT clarifies tax residency for people unable to leave India due to COVID-19

India - Cyril Amarchand Mangaldas

The COVID-19 flight restrictions have led to confusion among non-resident Indians with regard to their tax residency. Such individuals have effectively been stuck in India, involuntarily increasing their time in the country. This may expose their offshore business and professional income to tax in India, as it may be regarded as controlled from India and the individual may be regarded as 'resident but not ordinarily resident in India'.

Authors: Rishabh Shroff, Kunal Savani, Sanjana Rao
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Raulin Amy Incorporating a private company

Jersey - Ogier

This article provides useful guidance on incorporating a private company under Jersey law by summarising the main legal requirements and general principles which apply in this regard (eg, company formation, share capital and continuing requirements), as well as the benefits of using a Jersey company.

Authors: Raulin Amy, Simon Dinning, Nathan Powell
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Recent updates

Jonathan Hughes COVID-19: government financial support for businesses

Jersey - Ogier

Authors: Jonathan Hughes, Helen Ruelle, Bruce MacNeil, Will Austin-Vautier
Craig Cordle Potential causes of action in relation to funds in financial difficulty

Guernsey - Ogier

Authors: Craig Cordle, Simon Davies, Mathew Newman, Bryon Rees
Carole Cook HMRC nudge letters

United Kingdom - Forsters LLP

Authors: Carole Cook, Julia Ramsden Gunduz, Robert Payne
Jennie Cherry Completing US tax forms: Form 5472 – foreign-owned disregarded entities

USA - Kozusko Harris Duncan

Authors: Jennie Cherry, Eileen Reardon
Oliver Payne Standard directions in Section 238 appraisal proceedings confirmed

Cayman Islands - Ogier

Authors: Oliver Payne, Shaun Maloney
Angelos G Paphitis Individual investment in Cyprus during COVID-19 pandemic

Cyprus - A G Paphitis & Co

Author: Angelos G Paphitis
Emily Gilmore COVID-19 Weekly Report (25-31 May 2020)

International - International Law Office

Author: Emily Gilmore
Nateisha L Anderson-Bain Has COVID-19 affected real estate transactions?

Bahamas - Lennox Paton

Authors: Nateisha L Anderson-Bain, Kharin Sears

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