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UK delegation  promotes beneficial   ownership  registry

UK delegation promotes beneficial ownership registry

July 27, 2014 5:35 pm

A U.K government delegation paid a visit to the Cayman Islands last week for purposes of promoting the virtues of a public central register owners of companies and other entities. The Minister for financial services, Wayne Panton , told the Finance Committee of the Legislative Assembly that a delegation from the U.K , which comprised […]

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UAE Bank Warns That Dubai’s Property May Crash

UAE Bank Warns That Dubai’s Property May Crash

July 27, 2014 5:33 pm

The property market in Abu Dhabi and Dubai has showed early signs of instability, with UAE’s Central Bank issuing warnings that the market may cripple if prices continue rocketing at the current rate. The prices of houses in Dubai have grown by 27.7% as compared to the prices recorded for the same period 12 months […]

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BVI finalizes negotiations  with US on FATCA

BVI finalizes negotiations with US on FATCA

July 27, 2014 5:32 pm

The British Virgin Islands Government has issued an announcement today on the conclusion of negotiations with the US on a Model 1 IGA (Intergovernmental Agreement) under FATCA (Foreign Account Tax Compliance Act). In a statement issued on the negotiations, the Ministry of Finance of the BVI Government stated that the final text of the agreement […]

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CySEC Tightens  Reporting Regime in Compliance with European Standards

CySEC Tightens Reporting Regime in Compliance with European Standards

July 27, 2014 5:31 pm

The Cyprus Securities and Exchange Commission (CySEC) has made an announcement that a new format for capital adequacy as well as exposures that affect CIFs (Cyprus Investment Firms ) submission procedures, according to an official CySEC statement. In real essence, the recent announcement can be best summarized as CySEC COREP’s implementation or capital adequacy consolidated […]

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