Related briefings

CIMA announces private funds filing extension

The Cayman Islands Monetary Authority (CIMA) recently announced that the deadline for filing audited accounts and the requisite Annual Return Form in accordance with the Private Funds (Annual Returns) Regulations, 2021 has been extended to 30 September 2021.

Hard deadline for filing 2019 economic substance return upcoming on 30 April 2021

By Charlotte Cloete, Alan Dickson and Philippa Gilkes Relevant entities carrying on all types of relevant activity (except for those carrying on intellectual property business) under the International Tax Co-operation (Economic Substance) Act (2021 Revision) (“ES Act”) with a financial year end between 31 December 2019 – 30 April 2020, must file an economic substance […]

Bermuda – Economic Substance Declaration Filings – Update

The Economic Substance Act 2018 requires Bermuda-based entities that are carrying on a “relevant activity” in a relevant financial period and entities claiming “non-resident entity” status under the Act to file an Economic Substance Declaration Form with the Bermuda Registrar of Companies.

The DITC issues timely compliance reminders

The Cayman Islands Department for International Tax Cooperation (DITC) recently issued reminders to industry of compliance obligations in accordance with Common Reporting Standard (CRS) requirements and for the purposes of foreign account tax compliance (FATCA).

Latest Briefings

Freeports – Planning FAQs

The designation of eight new Freeports within England made headlines in the Budget and now the winning bidders have to put into effect their successful proposals. What will this mean in practice for those areas affected and what are the likely issues that Freeport authorities will face?

Snapshot: arbitration in the British Virgin Islands for Asia-based parties

The BVI is an increasingly popular arbitral seat supported by a modern pro-arbitration legal framework, modern arbitration facilities, and a world-class arbitration institution of its own in the form of the BVI International Arbitration Centre (“BVIIAC”). The ready availability of BVI legal expertise for any such arbitration under the supervision of the well-respected BVI Courts provides added comfort for parties seeking a dispute resolution venue in a stable jurisdiction.

12 things you didn’t know about electric vehicles

The significant shift in people’s travel routines over the last 12 months will likely trigger long-term changes for many and our urban spaces will need to continue to develop into ‘smart cities’. Electric vehicles and their charging points will form a significant part of this changing landscape.

Avenues of redress for stakeholders in Cayman incorporated companies facing the excesses of majority shareholders and/or their appointed directors

Against the backdrop of differing economies, laws and regulations throughout Asia, choosing to incorporate Cayman entities into holding and investment structures allows international stakeholders to co-operate under the aegis of a stable and effective judicial system. Appeals from the Grand Court of the Cayman Islands lie with the Cayman Islands Court of Appeal, comprising judges who have held high judicial office in the Commonwealth. The Judicial Committee of the Privy Council is the final Appellate Court for the Cayman Islands. As such, through its Court system, Cayman is able to provide the investment community with impartial, established and highly regarded judicial resources dedicated to resolving complex commercial disputes.

Key changes to the LCIA and ICC arbitration rules

Two of the most prominent arbitral institutions globally, the London Court of International Arbitration and the International Chamber of Commerce, have recently updated their rules to modernise and streamline the way in which arbitrations are administered. The changes are designed to increase efficiency, flexibility and transparency and to embrace the growing use of technology in business today.

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Eversheds comments on concerns over driverless cars

Commenting on news that driverless cars are to be officially trialled on UK roads Simon Jones, a senior technology law partner at Eversheds, says: “Amazing as the development of autonomous vehicles may be, there are concerns over the safety of all driverless systems. “We all know that most software contains bugs – this is one thing […]

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Mayer Brown boosts revenue by 7 per cent to $1.2bn in 2014

US firm Mayer Brown has posted a 7 per cent increase from $1.14bn to $1.2bn (£785m) in its year-end financial results. The firm’s PEP also increased by 12.8 per cent, rising from $1.3m to $1.44m in 2014. This result follows the growth trend demonstrated last year, when the firm bucked the general trend and showed […]

Clean-air company that Walker Morris built wins innovation award

A pioneering technology developed by a spin-out company from the University of Salford has been recognised for its ingenuity at the Times Higher Education Awards. The Salford Valve Company was spun out from the university in 2013 and was assisted in its formation by a multidisciplinary team from Walker Morris comprising specialists from the  corporate, commercial […]

Supreme Court gives green light for appeal over QASA ratings scheme

The Supreme Court has granted an appeal against the new rating system for criminal barristers introduced by the Legal Services Board (LSB). This decision marks the next step in a long-running fight between regulators and advocates to implement a new competency assessment for criminal barristers, known as the Quality Assurance Scheme for Advocates (QASA). The […]

Eversheds appoints three new partners in banking, international trade and transport

Eversheds has expanded its Switzerland team with the appointment of three new partners in the areas of banking, international trade, transport and insurance. Patrick Eberhardt is an expert in international trade finance and advises banks, commodities traders, inspection agencies, logistic companies and insurers in contentious and non-contentious matters. As in-house counsel at the leading investment bank BNP […]

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