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Latest Briefings

Update to Bermuda’s economic substance legislation

The month of June 2019 saw a number of important updates to Bermuda’s economic substance regime ahead of the 1 July deadline for compliance for entities in existence when the legislation came into force. This bulletin contains a summary of those developments. Entities Tax Resident Overseas Out Of Scope The Economic Substance Amendment Act 2019 […]

Jersey’s economic substance requirements – identifying holding company business and its implications

This briefing forms part of our series on identifying relevant activity for the purposes of the Taxation (Companies – Economic Substance) (Jersey) Law 2019 (the “ESJL”), in this case holding company business. Identifying Holding Company Business (“HCB”) The ESJL defines HCB as “the business of being a holding company”, which suggests it applies to all […]

Trust Essentials – July 2019

Z trusts judgment: whose rights take priority when a trust is insolvent? Jersey’s Court of Appeal has handed down its long awaited judgment in the Z Trusts case. The decision considers important questions regarding the equitable rights of a former trustee, and whether those rights have priority over the rights of other claimants to the […]

Uzbekistan – Reforms in the provision of tax and customs incentives

In order to further improve the investment climate in Uzbekistan, ensure the implementation of fair competition principles, as well as regulate the practice of granting tax and customs incentives, the Presidential Decree of the Republic of Uzbekistan ‘On measures to further streamline of tax and customs incentives provision’ No. УП- 5755 was adopted on 27 […]

Time is running out! Have you disclosed your nominee agreements to Revenu Quebec?

Effective May 17, 2019, all nominee agreements made as part of a transaction or series of transactions must be disclosed to Revenu Québec (“RQ“) within 90 days of execution, and agreements already in place on May 17, 2019, must be disclosed by September 16, 2019 (“New Disclosure Requirement“). Failure to comply with the New Disclosure […]

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Summit merges in-house teams for Woolf

MOTORING insurance company Summit at Lloyd’s has integrated its in-house and claims-handling teams. The merged team – called Just Law – is to be launched on 26 April in response to the Woolf Reforms. Hazel Hammonds, principal solicitor at Summit, says that by merging the teams the firm will be able to respond more quickly […]

Jersey giant Mourants opens in London to build client links

The Channel Islands’ largest firm Mourant du Feu & Jeune is opening a London office. Mourants will be the first Jersey firm to establish an office in the capital. The office will practise Jersey law and will concentrate on corporate and finance work. Mourants’ managing partner, Richard Jeune, says the office will make the firm […]

In brief: Ince & Co

Ince & Co has taken on a Titmuss Sainer Dechert partner to boost its Corporate Business group. Corporate and regulatory insurance specialist Reg Morton will be working with David Coup and Nick Gould in the group which also handles financial services work. The firm says it has seen considerable growth in the demand for non-contentious […]

Norton Rose targets Western Europe after Czech firm deal

Norton Rose is eyeing Western Europe as the next target for continental expansion after signing a joint venture deal with leading Czech firm Balcar Polansky & Spol. Norton Rose’s director of marketing and strategy, Tim Pashley, says the firm’s expansion plans will focus on Western Europe after it signed the deal last week. The Czech […]

Property

Wilde Sapte acted for property investor City & West End in its £20m acquisition of Film House in London’s Soho. The Wilde Sapte team was led by partner Stan Gniadkowski (pictured right). Partner Allan Hudson of Devonshires acted for the vendor, Langborn.

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