Mauritius Leaks…..July 2019 (follows Paradise, Panama, et al) Mauritius Leaks is a cross-border investigation into how one law firm on a small island off Africa’s east coast helped companies leach tax revenue from poor African, Arab and Asian nations. Led by the International Consortium of Investigative Journalists, the investigation is a collaboration by 54 journalists […]

Following the lifting of reporting restrictions, the FCA has announced that Richard Baldwin, a luxury-watch dealer, has been convicted in his absence, for money laundering. Baldwin is the sixth person to be convicted as part of ‘Operation Tabernula’, the FCA’s biggest insider-trading investigation to date. He was convicted in July 2017 after absconding from justice […]

As highlighted earlier by Comsure https://www.comsuregroup.com/jersey-trust-named-in-non-disclosed-dotas-scheme-during-hmrc-victory-against-tax-avoidance-promoters/ HMRC won £40 million battle against tax avoidance promoters – HM Revenue and Customs has won a legal case over tax avoidance scheme promoter Hyrax Resourcing Ltd, which will help the tax authority collect over £40 million in unpaid taxes. Unfortunately, the scheme relied on an offshore trust in […]

Are you an Administrator or Trustee of an offshore structure which owns a company incorporated in the United Kingdom (UK)? The Register of People with Significant Control – known as the PSC Register will, when it comes into effect from 1 April 2016, result in important changes that will require direct action on your part. […]

Legal Week’s latest offshore supplement covers the banking regulations and litigation cases shaping the offshore world In the competitive offshore world, where several financial hubs are chasing the same work, reputation has become a badge by which law firms market their wares. This supplement from Legal Week includes research from Legal Week Intelligence into what […]

British people and expats with accounts with international banks in the Channel Island of Jersey are facing confusion over a global clampdown on tax avoidance and money laundering. The move is a result of a series of high profile cases in which banks have been investigated over allegations that offshore or foreign accounts have been […]

The Labuan Financial Services Authority, on October 13, 2014, announced that it had signed a Memorandum of Understanding on cooperation with the Jersey Financial Services Commission last month, to foster improved collaboration on the regulation of the territories’ offshore financial services industries. The Labuan FSA said: “The MoU with JFSC is significant to [the] Labuan […]

The current commercial interest in Africa is having a knock-on effect in Mauritius as it becomes one of the world’s growing offshore jurisdictions Mauritius, though geographically one of the larger offshore jurisdictions, has remained off the radar for many in the offshore world. Once regarded as a key territory for the great European maritime powers […]