Legal Updates

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Developments in law or practice in our jurisdictions

22 September 2015 - Harneys Approved as BVI Registered Trade Mark Agent

Harneys is now one of a small group approved to act as a registered trademark agent by the BVI Financial Services Commission. On 1 September 2015, the Trade Marks Act 2013 was brought into force with one of the new requirements being that only...

16 September 2015 - BVI announces MoU with Gibraltar

The BVI Financial Services Commission (FSC) has announced a Memorandum of Understanding (MoU) with Gibraltar in relation to the supervision of managers of alternative investment funds (AIFMs). The MoU provides for the exchange of information between...

28 August 2015 - FATCA: Update regarding US Reportable Accounts

The Cayman Islands Department for International Tax Cooperation (DITC) has advised that it is in the final stages of preparing its FATCA data to be provided to the IRS. Information on US Reportable Account Notifications and 2014 Returns for US FATCA...

26 August 2015 - Cyprus and Iran sign Double Tax Treaty

On 4 August 2015, the governments of Cyprus and Iran signed an agreement for the avoidance of double taxation (the Treaty). With the lifting of international sanctions against Iran, Cyprus is now uniquely positioned to act as a gateway for investments...

10 August 2015 - Stand by for take off: Cape Town Convention extension date to Cayman confirmed

The ratification by the United Kingdom Government of the Convention on International Interests in Mobile Equipment and the Protocol thereto on matters specific to Aircraft Equipment (the Cape Town Convention) and its extension to the Cayman Islands has...

14 July 2015 - Cayman Islands introduce opt-in regimes for AIFMD compliance

For the past few years, the ongoing developments in Europe in relation to EU investor access to non-EU alternative investment funds or EU alternative investment funds managed by non-EU managers have been the source of great debate, mainly as a result of...

03 July 2015 - US and UK FATCA – British Virgin Islands Self-Certification on Account Holders

The International Tax Authority (ITA) of the British Virgin Islands has released templates for Individual and Entity Self-Certification Forms under US and UK FATCA. Copies can be found on the BVI Government’s website. The templates have been...

23 June 2015 - US FATCA – British Virgin Islands BVIFARS Portal deadline extended

The International Tax Authority (ITA) of the British Virgin Islands has announced the extension of two important BVI Financial Account Reporting System (BVIFARs Portal) deadlines as follows. (i) The Enrolment Deadline - to June 30, 2015...

08 June 2015 - Sky’s the limit: Cape Town Convention extension to Cayman imminent

Practitioners will be aware that the United Kingdom Government is set to ratify the Convention on International Interests in Mobile Equipment and the Protocol thereto on matters specific to Aircraft Equipment (the Cape Town Convention). Extension of the...

29 May 2015 - UK FATCA -- Election dates extended in ARR for UK RNDs

The British Virgin Islands and the Cayman Islands have entered into agreements with the UK for automatic disclosure of information in respect of interests in financial accounts held by UK residents. Most UK residents are taxed on the...

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