Articles & Video
Complex offshore structures – traps and pitfalls: a practical guide
There has been a growing trend over recent years for the development of bespoke and complex holding structures to accommodate the needs and sensitivities of ultra-high net worth individuals. Often, the clients originate from civil law jurisdictions and as a consequence are unfamiliar with trusts and the fiduciary relationship created. There is (understandably) suspicion.
I can see clearly now…
In recent years, there has been a positive deluge of reporting initiatives affecting UK individuals, entities and structures with a UK connection. Some of these have come from the USA (so-called “FATCA”), some from the OECD (the Common Reporting Standard), others from the EU (as a result of the 4th Anti Money Laundering Directive) and others are simply ground-breaking initiatives by the UK government.
A Guide to new legislation on Foundation Companies in the Cayman Islands
Beddoe relief where a third party claim may exhaust Trust assets
The Grand Court of the Cayman Islands has granted Beddoe relief to a trustee, in circumstances where a successful third party claim would have exhausted the trust assets.
Beddoe Relief: Case study from the Grand Court of the Cayman Islands
In the case of X (as Trustee of the A Trust) v Y (as Beneficiary of the A Trust) (unreported) 15 March 2017, Smellie CJ, the Grand Court of the Cayman Islands granted Beddoe relief to a trustee in circumstances where a successful third party claim would have exhausted trust assets. Partner Rachael Reynolds and Associate Shaun Maloney assess the decision's potential ramifications
The Cayman Islands Introduces Limited Liability Companies
The Cayman Islands Limited Liability Companies Law, 2016 (the “LLC Law”) has now been enacted and will be brought into force by a separate commencement order which is expected to be published later this month.
Cayman Islands: Confidential Relationships Law To Be Repealed
Confidential Relationships Law: The Government of the Cayman Islands has this week gazetted a bill to repeal the statute that has frequently and mistakenly