2015 is with us, and the 30 June deadline for the first reports of Foreign Account Tax Compliance Act (FATCA) information is looming. While some listed Guernsey and Jersey funds delegate FATCA reporting to a third party, the obligations remain the fund's responsibility, as this briefing explains.
Law Firm: Carey Olsen | Published: 04 March 2015 | Practice Area: Financial Reporting
A recent successful application before the Royal Court of Guernsey, commonly known as a Public Trustee v Cooper category 3 type, is believed to be the first of its kind to be determined in this jurisdiction. In this briefing, Carey Olsen sets out the facts, the judgment and its significance.
Law Firm: Carey Olsen | Published: 18 February 2015 | Practice Area: Succession Planning and Trusts
One of the key trends in Guernsey in recent years has been the emergence of the private trust company. Its popularity has grown as ultra-high net worth families look to consolidate their various family interests in a bespoke private structure, as this Carey Olsen briefing explains.
Law Firm: Carey Olsen | Published: 12 February 2015 | Practice Area: Succession Planning and Trusts
This briefing looks at an unusual Guernsey deal in which an order was secured for the discharge of an administration order made pursuant to the Companies (Guernsey) Law 2008, on the basis that the company could survive as a "going concern".
Law Firm: Carey Olsen | Published: 09 February 2015 | Practice Area: Corporate
This Carey Olsen briefing looks at two Jersey judgments which address the important question of when trustees of Jersey trusts should submit to the jurisdiction of foreign courts in matrimonial proceedings involving beneficiaries of Jersey trusts.
Law Firm: Carey Olsen | Published: 05 February 2015 | Practice Area: Family Law
The Foundations (Jersey) Law 2009 introduced a new type of entity, the foundation, into Jersey's legal landscape in 2009. This Mourant Ozannes guide offers a brief summary of the law.
Law Firm: Carey Olsen | Published: 23 January 2015 | Practice Area: Private Client
The Jersey Law Commission recently delivered a consultation paper entitled 'Divorce Reform', which is refreshingly straightforward and surprisingly comprehensive. In an area of law in which the primary source of legislation dates from 1949, the overhaul proposed by the paper is long overdue.
Law Firm: Carey Olsen | Published: 06 January 2015 | Practice Area: Family Law
A new exemption from the requirements of Jersey's Financial Services Law has been introduced which will enable Jersey-regulated fund managers to service qualifying segregated managed accounts without further regulation in Jersey, while still benefiting from Jersey's 0% corporate income tax rate.
Law Firm: Carey Olsen | Published: 11 December 2014 | Practice Area: Collective Investment Schemes
On 21 November the States of Guernsey Income Tax published a bulletin updating the most recent iteration of the draft guidance notes issued jointly by the Crown Dependencies on 28 July regarding the implementation under domestic law of FATCA-based reporting. This briefing summarises the key points.
Law Firm: Carey Olsen | Published: 03 December 2014 | Practice Area: Financial Reporting
This Carey Olsen briefing reviews how non-EU alternative investment fund managers (AIFMs) and EU AIFMs of offshore alternative investment funds in the jurisdictions of Guernsey, Jersey and the Cayman Islands are dealing with the requirements of the Alternative Investment Fund Managers Directive.
Law Firm: Carey Olsen | Published: 20 November 2014 | Practice Area: Regulation and Compliance
8-10 Throgmorton Avenue