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Private Client & Offshore Services

18 February 2021
Fraser Allister Temporary legislation for remote witnessing of signatures

Cayman Islands - Ogier

Parliament has passed temporary legislation which facilitates the signing of certain documents by removing the requirement that a witness be in the immediate physical presence of the person signing. This step, which follows previous regulations introduced in April 2020 to allow remote notarisation, seeks to address the challenges associated with social distancing and other measures arising from the COVID-19 pandemic.

Authors: Fraser Allister, Samantha Conolly
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Sophie Reguengo Impact of COVID-19 pandemic on fund manager substance arrangements

Jersey - Ogier

In 2020 the comptroller of revenue issued practical guidance which stated that where a company had to alter its operating practices to compensate for the COVID-19 outbreak, the comptroller would not determine that such company had failed the economic substance test under the Taxation (Companies – Economic Substance) (Jersey) Law 2019. As such, fund managers have had to make a number of adjustments to ordinary business practices in line with this guidance.

Author: Sophie Reguengo
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Elizabeth Small VAT: cross-border supplies post-Brexit

United Kingdom - Forsters LLP

It is often easy to assume that only parties which live in the United Kingdom are required to pay UK value added tax (VAT). However, UK VAT is often paid by individuals, trustees and companies which are resident outside the United Kingdom but use the services of professionals which are based in the United Kingdom. The extent to which VAT is or is not chargeable has changed as a result of Brexit and the end of the transition period on 31 December 2020.

Author: Elizabeth Small
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Recent updates

Marc Kish Third-party litigation funding and Private Funding of Legal Services Act

Cayman Islands - Ogier

Authors: Marc Kish, William Jones
Bryan De Verneuil-Smith Snapshot: pre-action disclosure

Guernsey - Ogier

Author: Bryan De Verneuil-Smith
Emily Haithwaite Economic substance: clarification of COVID-19 concession

Jersey - Ogier

Authors: Emily Haithwaite, Niamh Lalor, Matthew Shaxson, Alex Fisher
Guy Abrahams What is capital gains tax?

United Kingdom - Forsters LLP

Authors: Guy Abrahams, Elizabeth Small, Oliver Claridge
Pedro Cortés Role of digital yuan in gaming industry

Macau - Rato, Ling, Lei & Cortés Advogados

Authors: Pedro Cortés, Luís Machado
Jennie Cherry Overview (January 2021)

USA - Kozusko Harris Duncan

Authors: Jennie Cherry, Gordon P Stone III
Wendawn Miller-Frazer CESRA: economic substance reporting deadline extension

Bahamas - Lennox Paton

Author: Wendawn Miller-Frazer
Rishabh Shroff Why family offices must think beyond money: importance of family governance

India - Cyril Amarchand Mangaldas

Authors: Rishabh Shroff, Tanmay Patnaik

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