JURISDICTION UPDATE: BERMUDA BRITISH VIRGIN ISLANDS CAYMAN ISLANDS MAURITIUS. conyersdill.com 2012 ISSUE NO. 1
|
|
- Leo Shields
- 5 years ago
- Views:
Transcription
1 2012 ISSUE NO. 1 JURISDICTION UPDATE: BERMUDA BRITISH VIRGIN ISLANDS CAYMAN ISLANDS MAURITIUS BERMUDA BRITISH VIRGIN ISLANDS CAYMAN ISLANDS DUBAI HONG KONG LONDON MAURITIUS MOSCOW SINGAPORE SÃO PAULO conyersdill.com
2 BERMUDA Bermuda Insurance Update Over the past few months there have been several notable updates regarding Bermuda s insurance industry. In particular, the Bermuda Monetary Authority has significantly reduced the annual licence fees for Special Purpose Insurers from BD$11,600 to BD$6,000. Additionally, the Insurance Amendment Bill 2012, which was recently passed by the Bermuda House of Assembly and will soon become law, is set to enhance the Authority s power to regulate the industry effectively. The Bill will amend sections of the Insurance Act 1978 to strengthen the Authority s disciplinary tools. The proposed amendments will provide for the imposition of civil penalties, the making of prohibition orders, the power to order injunctive relief and to censure registered persons publically. The Bill aims to bring Bermuda s insurance industry up to appropriate international standards by promoting the financial stability and soundness of institutions within their control. These developments will further protect the industry s stakeholders as well as provide an environment for efficient and practicable regulation. The Authority has also recently published feedback to questions from the insurance industry regarding the Authority s consultation paper on the enhanced reporting requirements for Limited Purpose Insurers (a category which includes Class 1, Class 2, Class 3, Class A, Class B and Special Purpose Insurers). This evidences the Authority s commitment to maintaining a healthy partnership and open dialogue with the local insurance industry as a whole. These recent developments confirm Bermuda s pledge to maintain its position as a global leader while continuing to provide a competitive insurance marketplace. Amendments to the Bermuda Companies Act The Companies Amendment (No. 2) Act 2011 brought about significant amendments to the Companies Act 1981, the principal statute governing the formation and operation of companies in Bermuda. The key amendments include: permitting sole directors and corporate directors of Bermuda companies, allowing companies the option to waive annual general meetings; removing prohibitions on providing financial assistance; facilitating paperless share transfers for listed companies; amendments have been made to the solvency test, allowing Bermuda companies to declare dividends or distributions when recording a profit, notwithstanding that the company may carry a negative retained earnings balance; and a new process for mergers has been added as an alternative to the existing amalgamations procedure. In a merger, companies combine their assets, liabilities and undertakings and a surviving company results. conyersdill.com 2
3 The Act is the result of the Bermuda Government s open communication with the private sector which continues to encourage the promotion and maintenance of Bermuda as a leading international finance centre. This cooperative approach demonstrates the willingness and ability of Bermuda to adapt to the changing product needs of international clients. BRITISH VIRGIN ISLANDS Amendments to the BVI Business Companies Act The Government of the BVI has taken the first steps in implementing amendments to the BVI Business Companies Act. The BVI Business Companies (Amendment) Act 2012 (the Act ) was tabled for its first reading in the BVI House of Assembly on 10 May 2012 and new BVI Business Companies Regulations were published in the Official Gazette. The Act and Regulations are expected to take effect later this year (the draft Act remains subject to a number of readings and reviews) and, in addressing areas such as the use of foreign character names and re-use of company names, voluntary liquidations and voluntary liquidators and rules relating to listed companies, are part of an ongoing process to ensure the BVI s company legislation remains up to date and to ensure the BVI retains its position as the leading offshore corporate domicile. Case Note - Petitioning Creditor Ordered to Pay the Remuneration of Wrongly Appointed Liquidators In May 2012, the Eastern Caribbean Supreme Court of Appeal delivered a judgment in Pacific China Holdings Limited v Grand Pacific Holdings Limited, holding a petitioning creditor liable for the remuneration, costs, fees and expenses of joint liquidators where the liquidators appointment had been subsequently set aside. The judgment was of particular significance as there were no reported cases in the BVI dealing comprehensively with the question of liability for liquidators remuneration in such circumstances and very little in the way of English or other Commonwealth authority on point. Case Note - The Pendulum of Statutory Rectification Under BVI Law and Amendments to Eastern Caribbean Supreme Court Civil Procedure (Amendment) Rules 2011 in BVI A recent decision by the Eastern Caribbean Supreme Court of Appeal in Royal Westminster Investments S.A. and Others v. Nilon Limited and Another bodes well for the ability of beneficiaries of share security to apply for rectification under s.43 of the BVI Business Companies Act to enforce share security in the face of obstinate borrowers and registered conyersdill.com 3
4 agents. Prior to this decision, two earlier High Court judgments had significantly limited the ability of the Court to grant rectification of a share register in such circumstances. While a prudent approach to taking share security remains advisable, including obtaining undated share transfer forms and undertakings from registered agents, this decision is welcome in terms of increasing the remedies potentially available to secured creditors in a cost efficient manner. CAYMAN ISLANDS Cayman Enterprise City (CEC) Opens for Business In February, Cayman Enterprise City (CEC), the first technology-based special economic zone of its kind in the Caribbean, officially opened for business. It is pursuing partnerships to promote itself in Latin America, North America and the Caribbean region. Latin American Corporate Property Services Inc. (LACPS), a real estate service and consultation company based in Panama, has signed on as the first partner in Latin America and the partnership will provide LACPS clients in 48 countries access to enter CEC. Cayman Enterprise City is a special economic zone being developed in a state-of-the-art campus of innovative and sustainable architecture in Grand Cayman, designed to complement and respect the local environment. It will have six sectors including Cayman Internet Park, Cayman Media Park, Cayman Biotech Park, Cayman Commodities Park, Cayman International Academic Park and Cayman Outsource Park. The Special Economic Zones legislation is specifically designed to foster innovation and entrepreneurship. The government has passed legislation to provide for (eventually) a state-of-the-art campus where all the various special economic zone enterprises will be located. In the meantime, they have made provision for these enterprises to be located temporarily in alternative premises. To attract such business to the Islands, the government has passed legislation making unprecedented concessions and committing to reduced incorporation/set-up periods. For example, the streamlined set-up period is a maximum of 10 days. The concessions relate to reduced trade and import duties, work permit concessions, exemptions from certain license fees and guaranteed protection of intellectual property. The benefit of the special economic zone regime is to enable enterprises to set up operations quickly and cost effectively under the auspices of the Special Economic conyersdill.com 4
5 Zone Authority. There will be no manufacturing or industrial businesses within the zone. International businesses establishing within the zone will not be permitted to trade in Cayman outside of the zone, so they cannot compete with local businesses. Conyers is in the process of developing a package for potential special economic zone companies and clients interested in the special economic zone should contact their usual Conyers contact for further information. Cayman Islands Insurance Update The Insurance Law (Amendment) Bill has been introduced. It amends the Insurance Law, 2010 which has not yet come into force. What the amendment does, however, is permit companies a period of 18 months within which to become compliant once the new provisions do come into force. The amendment also provides for companies to transfer insurance business by way of continuation into Cayman from another jurisdiction. The 2010 Insurance Law was developed in close co-operation with the private sector and will provide a modern, flexible and comprehensive regulatory regime for the insurance industry designed to ensure Cayman s ongoing compliance with and adherence to the highest international regulatory standards. The new Law covers fundamental matters such as licensing of persons carrying on insurance or reinsurance business and those acting as insurance brokers, agents or managers, the obligations of licensees, and the powers and duties of the Cayman Islands Monetary Authority. Conyers will put out additional updates once this legislation comes into force and/or once subsidiary legislation is introduced. Case Note - Cayman Court of Appeal affirms SPC Fund Structure In ABC Company (SPC) v J&Co Ltd, the Cayman Islands Court of Appeal recently held that in the context of a segregated portfolio company, the loss of substratum basis for an application for the just and equitable winding up of a fund company, was available only with respect to the loss of substratum within the company as a whole, not merely because of illiquidity and suspension of dealings in a particular segregated portfolio. The Court held that the Companies Law does not provide free-standing jurisdiction to wind up an individual segregated portfolio on the just and equitable ground. conyersdill.com 5
6 MAURITIUS Establishment of an International Arbitration Centre In order to consolidate its position as an international financial services centre, the Mauritian government has since 2008 implemented a number of measures to establish itself as a regional arbitration centre as part of its stated ambition of being a regional business hub. The arbitration centre will provide the international business community in Mauritius with an effective mechanism to resolve any cross-border dispute in connection with their investments in Asia or Africa, and provide a neutral venue for commercial disputes between African litigants and investment disputes in Africa to be referred to arbitration. The island s journey to establish itself as a seat of international arbitration began in 2008 when the International Arbitration Act 2008 (the Act ) was enacted. The Act was based on the UNCITRAL Model Law on international commercial arbitration and the experience of other Model Law jurisdictions of the world. In 2009, the Mauritian state concluded a host country agreement with the Permanent Court of Arbitration ( PCA ) situated at the Hague, under which the PCA is to appoint a permanent representative in Mauritius. In July 2011, the Mauritius International Arbitration Centre Limited ( MIAC ) (an entity established for the purpose of administering international arbitration in Mauritius) entered into an agreement with the London Court of International Arbitration ( LCIA ) for the operation of the international arbitration centre. The newly established entity is known as LCIA- MIAC Arbitration Centre. Features of the Act that are pertinent to those engaged in global business in Mauritius include: provisions that all court applications under the Act go directly to the Supreme Court of Mauritius, with an automatic right of appeal to the Judicial Committee of the Privy Council. This will allow interlocutory issues to be disposed of swiftly by the courts; provisions that allow the shareholders of a global business company ( GBC ) in Mauritius to have any dispute concerning the constitution of a GBC or relating to the GBC to be referred to arbitration under the Act; a mechanism that grants jurisdiction for all appointment and certain administrative functions to the Permanent Court of Arbitration at the Hague instead of the domestic court in Mauritius; the possibility of setting aside an arbitral award on the ground that there has been a breach of the rules of natural justice during the arbitral proceedings; conyersdill.com 6
7 a specific focus on investment arbitration by making the Act applicable to international arbitration rather international commercial arbitration and by adopting a wider definition of arbitration agreement; and express provisions that permit foreign lawyers to represent parties and to act as arbitrators in international commercial arbitration in Mauritius. The LCIA-MIAC Arbitration Centre will appeal to three main groups in the international business community: global business companies already established or to be established in Mauritius that are faced with a commercial dispute in connection with their investments in Asia or Africa; African litigants looking for a non-eurocentric disputeresolution venue; and foreign investors involved in investment disputes in Africa seeking an alternative to domestic African courts. Mauritius has thus taken a bold step to establish itself as a place to resolve cross-border disputes through arbitration, under a legal framework familiar to the international business community. The first referral of disputes to the LCIA-MIAC Arbitration Centre cannot be too far away. This update is not intended to be a substitute for legal advice or a legal opinion. It deals in broad terms only and is intended to merely provide a brief overview and give general information. About Conyers Dill & Pearman Conyers Dill & Pearman advises on the laws of Bermuda, the British Virgin Islands, Cayman Islands and Mauritius. Conyers lawyers specialise in company and commercial law, commercial litigation, restructuring, insolvency and private client matters. The combination of Conyers international structure encompassing 11 offices in jurisdictions around the world, its culture and unrivalled expertise enables the highest quality, responsive, timely and thorough legal advice. Conyers affiliated companies (the Codan Group of companies) provide a range of trust, corporate secretarial, accounting and management services. Founded in 1928, Conyers has 550 staff and approximately 150 lawyers. conyersdill.com 7
8 BERMUDA Clarendon House 2 Church Street Hamilton HM 11 Bermuda Contact: John Collis Tel: john.collis@conyersdill.com LONDON 10 Dominion Street London EC2M 2EE Contact: Charles Collis Tel: +44 (0) charles.collis@conyersdill.com BRITISH VIRGIN ISLANDS Commerce House, Wickhams Cay 1 P.O. Box 3140 Road Town, Tortola British Virgin Islands VG1110 Contact: Robert Briant Tel: robert.briant@conyersdill.com MAURITIUS Level 3, Tower I Nexteracom Towers Cybercity, Ebene Mauritius Contact: Craig Fulton Tel: craig.fulton@conyersdill.com CAYMAN ISLANDS Boundary Hall, 2nd Floor Cricket Square P.O. Box 2681 Grand Cayman KY Cayman Islands Contact: Richard Finlay Tel: richard.finlay@conyersdill.com MOSCOW Ducat Place III 6 Gasheka Street Moscow Russian Federation Contact: Claire McConway Tel: claire.mcconway@conyersdill.com DUBAI Level 2 Gate Village 4 Dubai International Financial Centre P.O. Box Dubai, U.A.E. Contact: Kerri Lefebvre Tel: kerri.lefebvre@conyersdill.com SÃO PAULO Edificio Platinum, 7 Andar Rua Jerônimo da Veiga 384 São Paulo, SP Brasil Contact: Alan Dickson Tel: alan.dickson@conyersdill.com HONG KONG 2901 One Exchange Square 8 Connaught Place Central Hong Kong Contact: Lilian Woo Tel: lilian.woo@conyersdill.com SINGAPORE 9 Battery Road #20-01 Straits Trading Building Singapore Contact: Tan Woon Tiang Tel: tan.woontiang@conyersdill.com BERMUDA BRITISH VIRGIN ISLANDS CAYMAN ISLANDS DUBAI HONG KONG LONDON MAURITIUS MOSCOW SINGAPORE SÃO PAULO conyersdill.com
A New Regulatory Regime in BVI: SIBA 2010
BERMUDA BRITISH VIRGIN ISLANDS CAYMAN ISLANDS CYPRUS DUBAI HONG KONG LONDON MAURITIUS MOSCOW SÃO PAULO SINGAPORE conyersdill.com September 2010 A New Regulatory Regime in BVI: SIBA 2010 The Securities
More informationJuly Administration
BERMUDA BRITISH VIRGIN ISLANDS CAYMAN ISLANDS CYPRUS DUBAI HONG KONG LONDON MAURITIUS MOSCOW SÃO PAULO SINGAPORE conyersdill.com July 2012 The decision of the Cayman Islands Court of Appeal in ABC Limited
More informationA Plethora of Case Law
BERMUDA BRITISH VIRGIN ISLANDS CAYMAN ISLANDS CYPRUS DUBAI HONG KONG LONDON MAURITIUS MOSCOW SÃO PAULO SINGAPORE conyersdill.com May 2010 A Plethora of Case Law The offshore hedge fund industry has typically
More informationConyers Dill & Pearman
BRITISH VIRGIN ISLANDS INSURANCE COMPANIES Conyers Dill & Pearman Barristers & Attorneys Romasco Place, Wickhams Cay 1 PO Box 3140 Road Town, Tortola British Virgin Islands VG1110 email: bvi@ Website:
More informationMauritius Foundations Act: Laying the foundation
BERMUDA BRITISH VIRGIN ISLANDS CAYMAN ISLANDS CYPRUS DUBAI HONG KONG LONDON MAURITIUS MOSCOW SÃO PAULO SINGAPORE conyersdill.com July 2012 Mauritius Foundations Act: Laying the foundation The long-awaited
More informationBritish Virgin Islands Regulatory Update
BERMUDA BRITISH VIRGIN ISLANDS CAYMAN ISLANDS CYPRUS DUBAI HONG KONG LONDON MAURITIUS MOSCOW SÃO PAULO SINGAPORE conyersdill.com June 2010 British Virgin Islands Regulatory Update Recent Regulatory Advances
More informationImpact of FATCA on Cayman Islands Entities
Impact of FATCA on Cayman Islands Entities This publication provides a brief overview of the expected impact on entities incorporated in the Cayman Islands of (a) the foreign account tax compliance provisions
More informationConyers Dill & Pearman
BERMUDA SEGREGATED ACCOUNTS COMPANIES Conyers Dill & Pearman Barristers & Attorneys Clarendon House 2 Church Street PO Box HM 666 Hamilton HM 11 Bermuda email: bermuda@ Website: www. Bermuda British Virgin
More informationThe ripple effect: Offshore implications of the English Supreme Court decision in the Enviroco case
BERMUDA BRITISH VIRGIN ISLANDS CAYMAN ISLANDS CYPRUS DUBAI HONG KONG LONDON MAURITIUS MOSCOW SÃO PAULO SINGAPORE conyersdill.com April 2011 The ripple effect: Offshore implications of the English Supreme
More informationTaking charge in Bermuda: some tips for cross border security arrangements
BERMUDA BRITISH VIRGIN ISLANDS CAYMAN ISLANDS CYPRUS DUBAI HONG KONG LONDON MAURITIUS MOSCOW SÃO PAULO SINGAPORE conyersdill.com December 2010 Taking charge in Bermuda: some tips for cross border security
More informationThe Directors Registration and Licensing Law, 2014 now in force following publication of The Directors Registration
BERMUDA BRITISH VIRGIN ISLANDS CAYMAN ISLANDS DUBAI HONG KONG LONDON MAURITIUS SINGAPORE conyersdill.com The Directors Registration and Licensing Law, 2014 now in force following publication of The Directors
More informationConyers Dill & Pearman
CORPORATE RELOCATIONS: BERMUDA GROUP HOLDING COMPANIES Conyers Dill & Pearman Barristers & Attorneys Clarendon House 2 Church Street PO Box HM 666 Hamilton HM 11 Bermuda email: bermuda@ Website: www. Bermuda
More informationCayman Islands Mergers and Consolidations
Cayman Islands Mergers and Consolidations Foreword This memorandum has been prepared for the assistance of those who are considering a merger or consolidation between Cayman Islands companies or between
More informationGuide Establishing Private Equity Funds in the Cayman Islands. Investment Funds
Guide Establishing Private Equity Funds in the Cayman Islands Investment Funds conyersdill.com GUIDE TO ESTABLISHING PRIVATE EQUITY FUNDS IN THE CAYMAN ISLANDS 2 There s a reason that the Cayman Islands
More informationThe Growing Popularity of Cayman Islands Trusts in the Middle East
BERMUDA BRITISH VIRGIN ISLANDS CAYMAN ISLANDS CYPRUS DUBAI HONG KONG LONDON MAURITIUS MOSCOW SÃO PAULO SINGAPORE conyersdill.com March 2011 The Growing Popularity of Cayman Islands Trusts in the Middle
More informationPrivate Equity in Bermuda So Much More
BERMUDA BRITISH VIRGIN ISLANDS CAYMAN ISLANDS DUBAI HONG KONG LONDON MAURITIUS MOSCOW SÃO PAULO SINGAPORE conyersdill.com August 2012 Private Equity in Bermuda So Much More Inspired by Bermudaʹs unofficial
More informationBermuda: Conversion of an exempted limited partnership with legal personality to an exempted company
Bermuda: Conversion of an exempted limited partnership with legal personality to an exempted company Foreword This memorandum has been prepared for the assistance of those who are considering the conversion
More informationA Trustee s top three part three
BERMUDA BRITISH VIRGIN ISLANDS CAYMAN ISLANDS CYPRUS DUBAI HONG KONG LONDON MAURITIUS MOSCOW SÃO PAULO SINGAPORE conyersdill.com June 2011 A Trustee s top three part three In the first two parts of this
More informationBermuda: A Domicile of Choice for Shariah Compliant Structures Using Aircraft as an Asset Base
BERMUDA BRITISH VIRGIN ISLANDS CAYMAN ISLANDS CYPRUS DUBAI HONG KONG LONDON MAURITIUS MOSCOW SÃO PAULO SINGAPORE conyersdill.com September 2010 Bermuda: A Domicile of Choice for Shariah Compliant Structures
More informationConyers Dill & Pearman
CROSS BORDER INSOLVENCY OFFSHORE UPDATE 2009 Mark Forté, Partner & Head of Litigation, British Virgin Islands September 2009 Introduction At times such as these, we have seen the true nature of insolvencies
More informationMerger or Amalgamation of Companies into Bermuda
Merger or Amalgamation of Companies into Bermuda Foreword This memorandum has been prepared for the assistance of those who are considering the merger or amalgamation of a foreign corporation with a Bermuda
More informationINSURANCE: Bermuda Issues Guidance Notes
INSURANCE: Bermuda Issues Guidance Notes David J. Doyle, Partner, July 2005 In 2003 the International Monetary Fund ("IMF") performed an in-depth on-site review of Bermuda's financial services legislation
More informationThe EU Alternative Investment Fund Managers Directive the offshore angle
BERMUDA BRITISH VIRGIN ISLANDS CAYMAN ISLANDS CYPRUS DUBAI HONG KONG LONDON MAURITIUS MOSCOW SÃO PAULO SINGAPORE conyersdill.com The EU Alternative Investment Fund Managers Directive the offshore angle
More informationIn Mauritius. Bermuda British Virgin Islands Cayman Islands Dubai Hong Kong London Mauritius Moscow São Paulo Singapore
In Mauritius Bermuda British Virgin Islands Cayman Islands Dubai Hong Kong London Mauritius Moscow São Paulo Singapore Advising on the laws of Cayman Islands, British Virgin Islands, Bermuda and Mauritius
More informationContinuance of Foreign Corporations in Bermuda
Continuance of Foreign Corporations in Bermuda Preface This publication has been prepared for the assistance of those who are considering the continuance of a foreign corporation into Bermuda as a Bermuda
More informationThe UK Government has published Guidance Notes to help companies ensure they are in step with the new requirements ( the Guidance ).
BERMUDA BRITISH VIRGIN ISLANDS CAYMAN ISLANDS CYPRUS DUBAI HONG KONG LONDON MAURITIUS MOSCOW SÃO PAULO SINGAPORE conyersdill.com June 2011 Bribery Act 2010 The Bribery Act 2010 ( the Act ) comes into force
More informationCayman Islands Segregated Portfolio Companies
Cayman Islands Segregated Portfolio Companies Preface This publication has been prepared for the assistance of anyone who is considering establishing a segregated portfolio company in the Cayman Islands.
More informationContinuing Requirements of the Companies Law of the Cayman Islands
Continuing Requirements of the Companies Law of the Cayman Islands Foreword This memorandum has been prepared for the assistance of those who are considering the operation of companies in the Cayman Islands
More informationDissenting Shareholders, Fair Value Petitions and Statutory Appraisals: New Guidance from the Cayman Islands
Dissenting Shareholders, Fair Value Petitions and Statutory Appraisals: New Guidance from the Cayman Islands Authors: Nigel K. Meeson QC, Partner Erik Bodden, Associate On 25 April 2017, the Honourable
More informationBritish Virgin Islands Business Companies
British Virgin Islands Business Companies Foreword This memorandum has been prepared for the assistance of those who are considering the formation of companies in the British Virgin Islands ( BVI ). It
More informationDiscontinuance of Companies from Bermuda
Discontinuance of Companies from Bermuda Preface This publication has been prepared for the assistance of those who are considering the discontinuance of a Bermuda exempted company to a foreign jurisdiction
More informationBermuda: Conversion of an exempted company to an exempted limited partnership
Bermuda: Conversion of an exempted company to an exempted limited partnership Preface This publication has been prepared for the assistance of those who are considering the conversion of a Bermuda exempted
More informationCayman Islands Mutual Funds
Cayman Islands Mutual Funds Preface This publication has been prepared for the assistance of those who are considering the formation of a mutual fund in the Cayman Islands. It deals in broad terms with
More informationBritish Virgin Islands Business Companies
British Virgin Islands Business Companies Foreword This memorandum has been prepared for the assistance of those who are considering the formation of companies in the British Virgin Islands ( BVI ). It
More informationCayman Islands Exempted Companies
Cayman Islands Exempted Companies Foreword This memorandum has been prepared for the assistance of those who are considering the formation of companies in the Cayman Islands ( Cayman ). It deals in broad
More informationMAURITIUS LEADING INDEPENDENT LAW FIRM
MAURITIUS LEADING INDEPENDENT LAW FIRM 3 BLC ROBERT & ASSOCIATES OUR FIRM BLC Robert is the leading independent business law firm in Mauritius. The firm has five partners and over 30 locally and internationally-trained
More informationBermuda Public Companies Offshore Companies Onshore Exchanges
Bermuda Public Companies Offshore Companies Onshore Exchanges Preface This publication has been prepared for the assistance of those who are considering the formation of public companies in Bermuda. It
More informationComparison of Bermuda, Cayman Islands, British Virgin Islands and Mauritius Funds
Comparison of Bermuda, Cayman Islands, British Virgin Islands and Mauritius Funds Preface This publication has been prepared for the assistance of those who are considering the formation of a fund in an
More informationContinuation of Companies into the British Virgin Islands
Continuation of Companies into the British Virgin Islands Foreword This memorandum has been prepared for the assistance of those who are considering the continuation of companies into the British Virgin
More informationBULLETIN. Conyers Dill & Pearman VP-L** : AIRCRAFT REGISTRATION IN THE BVI. The Offshore Law Firm 2008 No. 3
Conyers Dill & Pearman The Offshore Law Firm 2008 No. 3 BULLETIN VP-L** : AIRCRAFT REGISTRATION IN THE BVI Historically, the British Virgin Islands has been an incorporation jurisdiction, often incorporating
More informationMAURITIUS LEADING INDEPENDENT LAW FIRM
MAURITIUS LEADING INDEPENDENT LAW FIRM 3 BLC ROBERT OUR FIRM BLC Robert is the leading independent business law firm in Mauritius. The firm has 4 partners and over 40 locally and internationally-trained
More informationCayman Islands Insurance Companies
Cayman Islands Insurance Companies Preface This publication has been prepared for the assistance of those who are considering the formation of an insurance company in the Cayman Islands. It deals in broad
More informationAmalgamation of Bermuda Companies
Amalgamation of Bermuda Companies Preface This publication has been prepared for the assistance of those who are considering the amalgamation of Bermuda exempted companies. It deals in broad terms with
More informationDe-Registration of Cayman Islands Companies being Continued in a Foreign Jurisdiction
De-Registration of Cayman Islands Companies being Continued in a Foreign Jurisdiction Preface This publication has been prepared for the assistance of those who are considering the process of de registering
More informationData Protection Cayman Islands
Data Protection Cayman Islands Author: Martin S. Lane, Partner In June 2017, The Data Protection Law (the DP Law ) was published in the Cayman Islands Official Gazette. The DP Law will be brought into
More informationComparison of Bermuda, Cayman Islands and British Virgin Islands Funds
Comparison of Bermuda, Cayman Islands and British Virgin Islands Funds Foreword This memorandum has been prepared for the assistance of those who are considering the formation of a fund in an offshore
More informationPRACTICE DESCRIPTION. Dispute Resolution
PRACTICE DESCRIPTION Dispute Resolution OVERVIEW Appleby provides dispute resolution services in Bermuda, the British Virgin Islands, the Cayman Islands, Guernsey, Hong Kong, the Isle of Man, Jersey and
More informationSpecial Economic Zone Companies in the Cayman Islands
Special Economic Zone Companies in the Cayman Islands Preface This publication has been prepared for the assistance of those who are considering the registration of an exempted company as a special economic
More informationBritish Virgin Islands Trusts
British Virgin Islands Trusts Preface This Publication has been prepared for the assistance of those who are considering the formation of trusts in the British Virgin Islands ( BVI ). It is not intended
More informationBermuda Segregated Accounts Companies
Bermuda Segregated Accounts Companies Preface This publication has been prepared for the assistance of anyone who is considering establishing a segregated accounts company in Bermuda. It deals in broad
More informationTHE OFFSHORE ANGLE: AN EXPERT S PERSPECTIVE
MARCH 2018 THE OFFSHORE ANGLE: AN EXPERT S PERSPECTIVE In this edition of Vannin Capital s In Conversation Series, London Managing Director, Rosemary Ioannou discusses the development of third party funding
More informationThe Court s power to add powers to the terms of express trusts: two recent decisions of the Grand Court of the Cayman Islands
BERMUDA BRITISH VIRGIN ISLANDS CAYMAN ISLANDS CYPRUS DUBAI HONG KONG LONDON MAURITIUS MOSCOW SÃO PAULO SINGAPORE conyersdill.com June 2010 The Court s power to add powers to the terms of express trusts:
More informationBarbados to Bermuda: Companies Migrating By Way of Continuation
Barbados to Bermuda: Companies Migrating By Way of Continuation Preface This publication has been prepared for the assistance of those who are considering the process of transfer by way of continuation
More informationSeeing the world from your perspective
Seeing the world from your perspective BIGGER PICTURE OFFSHORE LAW SPECIALISTS BRITISH VIRGIN ISLANDS CAYMAN ISLANDS GUERNSEY JERSEY CAPE TOWN HONG KONG LONDON SINGAPORE 1 / careyolsen.com Contents OUR
More informationSECTORS & MARKETS. Funds & Investment Services
Funds & Investment Services OVERVIEW Appleby s investment funds team comprises over 50 lawyers working in each of the world s leading offshore fund domiciles Bermuda, the British Virgin Islands, the Cayman
More informationCAYMAN ISLANDS MONETARY AUTHORITY PRIVATE SECTOR CONSULTATION
CAYMAN ISLANDS MONETARY AUTHORITY PRIVATE SECTOR CONSULTATION RULE AND REGULATORY PROCEDURE ON CANCELLATION OF LICENCE OR CERTIFICATE OF REGISTRATION OF REGULATED MUTUAL FUNDS A. INTRODUCTION 1. Section
More informationPRACTICE DESCRIPTION. Funds Disputes
PRACTICE DESCRIPTION Funds Disputes OVERVIEW Investment funds are a key feature of commercial activity in all of the offshore jurisdictions where Appleby operates, namely Bermuda, the British Virgin Islands,
More informationMergers, Consolidations, Schemes of Arrangement and Takeovers in the Cayman Islands
Mergers, Consolidations, Schemes of Arrangement and Takeovers in the Cayman Islands Preface This publication has been prepared for the assistance of those who considering mergers, consolidations or schemes
More informationA guide to structured finance and securitisation in Jersey
A guide to structured finance and securitisation in Jersey Our structured finance and securitisation team Carey Olsen is a market leader in structured finance and securitisation in Jersey. Clients of the
More informationJersey company law guide: Q&A
Jersey company law guide: Q&A Service area Corporate Location Jersey Date September 2017 What is the general situation for foreign companies in Jersey? Jersey has been at the forefront of the global finance
More informationSUMMARY GUIDE TO THE BVI BUSINESS COMPANIES ACT, 2004
SUMMARY GUIDE TO THE BVI BUSINESS COMPANIES ACT, 2004 The BVI Business Companies Act, 2004 (as amended) (the Act ) came into force on 1 January 2005 and after a two year transition period it completely
More informationMIAC 2014 THE THIRD BIENNIAL MAURITIUS INTERNATIONAL CONFERENCE. The Litmus Test: Challenges to Awards and. Enforcement of Awards in Africa
MIAC 2014 THE THIRD BIENNIAL MAURITIUS INTERNATIONAL CONFERENCE The Litmus Test: Challenges to Awards and Enforcement of Awards in Africa Monday 15 December 2014 Hilton Hotel, Flic-en-Flac, Mauritius Opening
More informationMEETING OF CREDITORS AND REGISTERED SHAREHOLDERS 24 th June 2016
Fairfield Sentry Limited Fairfield Sigma Limited Fairfield Lambda Limited (in Liquidation) MEETING OF CREDITORS AND REGISTERED SHAREHOLDERS 24 th June 2016 Cayman Islands British Virgin Islands (EC) Bahamas
More informationThe Bermuda Stock Exchange
The Bermuda Stock Exchange Preface This publication has been prepared for the assistance of anyone who requires information about the Bermuda Stock Exchange. It deals in broad terms with the Bermuda Stock
More informationBritish Virgin Islands Segregated Portfolio Companies
British Virgin Islands Segregated Portfolio Companies Preface This publication has been prepared for the assistance of anyone who is considering establishing a segregated portfolio company in the British
More informationPRACTICE DESCRIPTION. Insolvency & Restructuring
Insolvency & Restructuring OVERVIEW Appleby provides insolvency & restructuring services in all the offshore jurisdictions in which it operates, namely: Bermuda, the British Virgin Islands, the Cayman
More informationIntroducing our firm OFFSHORE LAW SPECIALISTS
Introducing our firm OFFSHORE LAW SPECIALISTS In the face of opportunities or challenges, our clients know that the advice and guidance they receive from us will be based on a complete understanding of
More informationBeijing British Virgin Islands Cayman Islands Hong Kong Jakarta Singapore.
Corporate Recovery and Insolvency Financial and Operational Restructuring Financial Investigations, Forensic Accounting and Expert Evidence Corporate and Strategic Advice Matrimonial, Trust and Probate
More informationCIMA s Role and Functions
Cayman Islands Monetary Authority ( CIMA ) CIMA s Role and Functions Presentation to IMAC on 19 April 2016 A brief history of CIMA and its legal basis: Formed on 1 January 1997, by amalgamation of the
More informationProspectuses and Public Offers by Bermuda Companies
Prospectuses and Public Offers by Bermuda Companies Preface This publication has been prepared for the assistance of those who are considering the making of an offer by a Bermuda company of its shares
More informationLegal Services Asia Dispute Resolution
Asia Technically strong, very strategic and commercial. Chambers 2017, Asia-Pacific Contents What we do 3 Our capabilities 4 Our jurisdictions 6 Our experience 8 Our locations 11 Key contacts 13 What we
More informationHong Kong - Central. Contact. Kristi L. Swartz. (O/A as Bryan Cave LLP)
Hong Kong - Central (O/A as Bryan Cave LLP) Since opening our Hong Kong office in 1994, our core areas of focus have evolved in response to the fundamental requirements of organizations doing business
More informationFATCA: Impact on Mauritius Entities
FATCA: Impact on Mauritius Entities Foreword This publication provides a brief overview of the expected impact on entities resident in the Republic of Mauritius ( Mauritius ) of the foreign account tax
More informationBermuda s National Pension Scheme
Bermuda s National Pension Scheme Preface This publication has been prepared for the assistance of anyone who is considering issues relating to pensions in Bermuda. It deals in broad terms with the requirements
More informationEstablishing Bermuda Residence
Establishing Bermuda Residence Preface This publication has been prepared for the assistance of anyone who is considering establishing residence in Bermuda. It deals in broad terms with the requirements
More informationTHE ROLE OF THE PERMANENT COURT OF ARBITRATION IN DOING BUSINESS. Hugo Siblesz Secretary-General Permanent Court of Arbitration March 6,
THE ROLE OF THE PERMANENT COURT OF ARBITRATION IN DOING BUSINESS Hugo Siblesz Secretary-General Permanent Court of Arbitration March 6, 2013 1 I have been asked to speak about the role of the Permanent
More informationMerger and Amalgamation of Companies from Bermuda
Merger and Amalgamation of Companies from Bermuda Preface This publication has been prepared for the assistance of those who are considering the merger or amalgamation of a foreign corporation with a Bermuda
More informationThe Listing of Securities on the Cayman Islands Stock Exchange
The Listing of Securities on the Cayman Islands Stock Exchange Preface This publication has been prepared for the assistance of those who are considering the process of listing securities on the Cayman
More informationCorporate clients. Who is Maitland? Contents. maitlandgroup.com
Corporate clients Who is Maitland? Maitland is a global advisory, administration and family office firm providing seamless multijurisdictional legal, fiduciary, investment and fund administration services
More informationBrochure Investment Funds Guernsey
Brochure Investment Funds Guernsey "They understand the industry, the deals and, just as importantly, they understand client service. If I had a choice, I'd go to them every time." Client feedback 2017
More informationAn overview of the types and uses of Cayman Islands law trusts
An overview of the types and uses of Cayman Islands law trusts Service area Trusts and Private Wealth Location Cayman Islands Date March 2017 Introduction A trust is a legal arrangement which distinguishes
More informationSchemes of Arrangement for Insurance Companies in Bermuda
Schemes of Arrangement for Insurance Companies in Bermuda Preface This publication has been prepared for the assistance of those who are considering schemes of arrangement for Bermuda insurance companies.
More informationPrivate Equity in Bermuda The Bermuda Limited Partnership
Private Equity in Bermuda The Bermuda Limited Partnership Preface This publication has been prepared for the assistance of those who are considering the formation of private equity vehicles in Bermuda.
More informationLegal Services Natural Resources
Legal Services Natural Resources They gave us good quality advice and helped us to get a good outcome for the client. International law firm Contents Who we are 3 Why go offshore? 4 Choice of location
More informationArbitration Expanding Opportunities for Lawyers. Jamaican Bar Association/General Legal Council Continuing Legal Education Seminar
Arbitration Expanding Opportunities for Lawyers Jamaican Bar Association/General Legal Council Continuing Legal Education Seminar November 2011 What is Arbitration? Halsbury s Laws of England, Fourth Edition
More informationslaughter and may Detail from Sea Hook by Trevor Bell Dispute Resolution
slaughter and may Detail from Sea Hook by Trevor Bell Dispute Resolution Dispute Resolution This team has an outstanding international reputation for commercial litigation, acting for a broad spectrum
More informationJurisdictions Serviced
www.harbour.ky Jurisdictions Serviced The Cayman Islands is the leading jurisdiction for offshore investment funds as a result of its favourable regulatory environment, flexible structuring options,
More informationJames Corbett QC. built rapport and gained the confidence and trust. of the parties very quickly. Overview
CEDR Accreditation: CEDR Panel Member Since: 2000 2002 Languages: Location: English Grand Cayman built rapport and gained the confidence and trust James Corbett QC of the parties very quickly. Mediation
More informationOFFSHORE JURISDICTIONS BVI AND CAYMAN INSOLVENCY LAW A COMPARISON MAY-JUNE Commercial Dispute Resolution
32 OFFSHOE JUISDICTIONS BVI AND CAYMAN INSOLVENCY LAW A COMPAISON 33 Colin iegels, Ian Mann and Marc Kish of Harney, Westwood and iegels explore the similarities and differences between British Virgin
More informationLegal Services Global Dispute Resolution
Legal Services Global The intellectual talent of their star players is of top quality. Client feedback Contents Who we are 3 What we do, how we do it 4 Our jurisdictions 6 Our team and recognition 8 Cross
More informationBeijing British Virgin Islands Hong Kong Jakarta Singapore.
Corporate Recovery and Insolvency Financial and Operational Restructuring Financial Investigations, Forensic Accounting and Expert Evidence Corporate and Strategic Advice Matrimonial, Trust and Probate
More informationRegistration of Foreign Limited Partnerships in the Cayman Islands
Registration of Foreign Limited Partnerships in the Cayman Islands Preface This publication has been prepared for the assistance of those who are considering registration of a foreign limited partnership
More informationGUIDE TO PROTECTION OF MINORITY SHAREHOLDERS IN THE CAYMAN ISLANDS
GUIDE TO PROTECTION OF MINORITY SHAREHOLDERS IN THE CAYMAN ISLANDS CONTENTS PREFACE 1 1. Introduction 2 2. Right to Information 2 3. Right to Bring Legal Action Personal, Representative and Derivative
More informationCONTENTIOUS TRUST DISPUTES
MARKET-LEADING EXPERTISE CONTENTIOUS TRUST DISPUTES tice brochure d14 CONTENTIOUS TRUST DISPUTES OVERVIEW Modern trust disputes are often complex involving large corporate structures with offshore elements
More informationOffshore Magic Circle In Their Own Words
Home About Us FAQs Jobs Jurisdic ons Resources Employers Contact Us Offshore Magic Circle In Their Own Words Recent Posts An insight into the leading offshore law firms expressed in their own words from
More informationCayman Islands Exempted Limited Duration Companies
Cayman Islands Exempted Limited Duration Companies Preface This publication has been prepared for the assistance of those who are considering the formation of companies in the Cayman Islands. It deals
More informationIt s a world of risk out there.
It s a world of risk out there. In fact, risk is a constant presence in every business. Which is why an essential question for companies no matter their structure or sector of the economy is, How is risk
More informationSeychelles Office OFFICE DESCRIPTION. Suite 202 2nd Floor, Eden Plaza Eden Island PO Box 1352 Mahe Seychelles
Photo courtesy Raymond Sahuguet Seychelles Office Suite 202 2nd Floor, Eden Plaza Eden Island PO Box 1352 Mahe Seychelles T: +248 429 5281 F: +248 422 5281 E: seychelles@applebyglobal.com OVERVIEW The
More informationPinsent Masons in the UAE
Pinsent Masons in the UAE Pinsent Masons In the UAE Introduction Our UAE office, based in the heart of Dubai s financial district, combines local knowledge with an international experience to advise clients
More informationOffshore Security Enforcement
Offshore Security Enforcement Contents Introduction... 01 Guernsey... 02 Jersey... 03 Isle of Man... 04 British Virgin Islands... 05 Cayman Islands... 06 Mauritius...07 Gibraltar... 08 Luxembourg... 09
More information