Economic substance: clarification of COVID-19 concession in Jersey

Since the Taxation (Companies – Economic Substance) (Jersey) Law 2019 (the Law) came into force on 1 January 2019, Jersey tax resident companies carrying out certain ‘relevant activities’ have had to comply with the substance requirements set out within the Law.

Related briefings

Snapshot: starting civil proceedings in Guernsey

Civil litigation procedure in Guernsey is governed by The Royal Court Civil Rules 2007 (“RCCR”). All commercial disputes with a value over £10,000 will be heard in The Royal Court of Guernsey, disputes with a lower value, known as Petty Debts, are dealt with in the Magistrate’s Court.

How offshore law firms have stepped up to the challenges of 2020

In this interview, excerpts of which originally appeared in Asian Legal Business, Ogier partner and head of ESG Funds in Hong Kong Kate Hodson discusses how offshore law firms have stepped up to meet this changing business landscape, the ramping up of regulations, and the growing momentum around ESG.

Cayman Islands Funds Update: Q4 2020

Despite the beginning of 2020 being marked by a large number of new regulations in the Cayman Islands, the number of changes to laws and regulations that impact or may impact funds constituted in the country was significantly lower in the last quarter of 2020 than verified previous quarters. Specifically, the regulatory bodies and competent authorities focused on receiving clarifications and refinements to the existing regimes, which continued to occur in January 2021.

PRI’s new reporting framework – are you ready?

On 12 November 2020, Principles for Responsible Investment (PRI) issued significant updates to the reporting framework (RF) for signatories. The new requirements are more focused on “real world” outcomes meaning signatories needs to show how environmental, social, and governance (ESG) factors are integrated into investment analysis and execution.

Advance healthcare directives under Cayman law

An advance health care directive is also known as a living will. It is actually not a new concept but is new to being recognised in the Cayman Islands. In 2019 the Health Care Decisions Act was implemented in the Cayman Islands.

Latest Briefings

Reciprocal enforcement of judgments in Guernsey

Volatile markets and economic downturns typically lead to increases in commercial litigation. Onshore proceedings can commonly involve offshore structures and we anticipate a growth in cases requiring the recognition and enforcement of foreign judgments.

Climate Finance – Where do asset managers fit in?

The initial focus following the signing of the Paris Agreement was on the commitments made by governments from around the world to take action to combat climate change. The term climate finance was equated with the financial resources committed by governments for investment in the transition to a climate neutral global economy.

Uber v Aslam: a win for workers

On 19 February 2021, the Supreme Court ruled in favour of workers in the Uber v Aslam case, marking the end of Uber’s landmark employment battle. The decision means that Uber drivers must now be treated as workers rather than as self-employed, entitling them to the employment rights that come alongside that.

British Virgin Islands – Regulatory Update

On 11 February 2021, the British Virgin Islands Financial Services Commission published the Financial Services (Prudential and Statistical Returns) (Amendment) Order 2021.

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Slaughters promotes compliance head to GC role

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