HMRC ordered to close 20-year enquiry into Guernsey trust transfer
Decision will be ‘welcomed by taxpayers and their advisers’
Bermuda
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Banking group snaps up Bermuda-based trust business
In a bid to expand its wealth management operation
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Lombard International sells US and Bermuda business
It remains focused on growing its operation in Europe
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Credit Suisse Bermuda life arm set for $500m fine
Bank ‘intends to pursue all available legal actions’
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Aegon subsidiary unveils life insurance plan
It is available in Bermuda and Hong Kong with Singapore roll out scheduled for future
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Cayman Islands and Oman removed from EU blacklist
But Anguilla and Barbados are added
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Bermuda fines trust provider over money laundering failures
Firm did not address its ‘deficiencies’ within the timeframe given by the regulator
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Maltese advisory firm scooped up by Bermuda insurer
Group already has brokerage and insurance companies in Gibraltar and Malta
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EU removes three jurisdictions in blacklist update
One has been named fully compliant while two have been ‘grey-listed’
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Offshore chiefs bid to avoid EU blacklist
Island jurisdictions including Bermuda, Jersey, Guernsey and Cayman have been making last ditch efforts to avoid being blacklisted by the EU.
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Financial centres slam Paradise Papers backlash
The UK’s crown dependencies and overseas territories have hit back at international media scrutiny and allegations that they facilitate tax avoidance and evasion following the leak of the Paradise Papers.
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Rich at risk after offshore law firm hacked
Just 18 months after the Panama Papers rocked the offshore world, a Bermuda-based offshore law firm has confirmed it was hacked in 2016, raising concerns that details of high net worth individuals and corporations could be at risk.