Jordans Trust Company blog

Our blog will keep you up-to-date and reliably informed about the latest insights and news from the world of business.

New Anti-Laundering Regulations now in force in the UK

18 Jul 2017
The UK’s previous Anti-Money Laundering (AML) legislation, The Money Laundering Regulations 2007 (the 2007 Regulations), was repealed on 26 th June 2017 and replaced by The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (the 2017 Regulations). This new legislation implements the proposals contained within the EU’s 4 th Money Laundering... Read More AboutNew Anti-Laundering Regulations now in force in the UK »

By Martyn Dumble

BVI: Beneficial Ownership Secure Search System Act 2017

10 Jul 2017
The Beneficial Ownership Secure Search System Act, 2017 (the “ BOSS Act ”) came into force in the BVI on 30 June 2017. The BOSS Act was almost immediately amended by the Beneficial Ownership Secure Search System (Amendment) Act, 2017 (the “ Amendment Act ”), which also came into force on 30 June. This BOSS Act facilitates the effective storage and retrieval of beneficial ownership... Read More AboutBVI: Beneficial Ownership Secure Search System Act 2017 »

By Philip Jacques

Hong Kong register of companies: disclose beneficial owners by 2018

12 Jun 2017
In what could be the biggest change in transparency for a generation, Hong Kong’s registrar of companies is looking to  adopt increased openness by requiring all firms incorporated in the city to publish their beneficial owners by 2018. This bold new move follows efforts from Singapore and the UK to prevent cases of fraud and money laundering and, if implemented, would include both... Read More AboutHong Kong register of companies: disclose beneficial owners by 2018 »

By Jason Reader

UK: new money laundering regulations and the register of people with significant control (PSC register) – update

28 Apr 2017
On 24 March I blogged about the new money laundering legislation due to come into force on 26 June 2017. Companies House has now issued a press release called “ Changes to the UK anti-money laundering measures ”. The press release anticipates the introduction of the following measures designed to increase the transparency of those who own and control UK companies or Scottish partnerships:... Read More AboutUK: new money laundering regulations and the register of people with significant control (PSC register) – update »

By Philip Jacques

UK limited liability partnerships and the importance of having a written agreement

20 Apr 2017
While there is no statutory requirement to put in place a written agreement, an LLP without one will be governed by the default provisions in the Limited Liability Partnerships Regulations 2001. It is unlikely that these default provisions will be satisfactory and, in some cases, may produce some damaging consequences for your business. The following are situations where the default... Read More AboutUK limited liability partnerships and the importance of having a written agreement »

By Philip Jacques

UK: new money laundering and transfer of funds regulations

24 Mar 2017
The UK government has published draft Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (the “MLR 2017”). These regulations transpose the EU Fourth Money Laundering Directive and the Fund Transfer Regulation which accompanies it. The MLR 2017 are open to final consultation until 12 April, with the MLR 2017 expected to come into... Read More AboutUK: new money laundering and transfer of funds regulations »

By Philip Jacques

Cyprus reaches out to foreign innovators

17 Feb 2017
Earlier this week, the Cypriot government approved a scheme to attract innovative start-ups to the Republic and thus benefit from its advantageous tax regimes for individuals and companies. The scheme effectively permits third-country (non-EU) entrepreneurs with a start-up capital of at least €50,000 to set up their headquarters and achieve tax residence in Cyprus, provided the proposed... Read More AboutCyprus reaches out to foreign innovators »

By Richard Melton

Requirement to Correct: one last shot for your offshore matters and transfers to be in order

10 Feb 2017
The reporting of income or assets in UK tax returns relating to offshore matters will be under greater scrutiny by HMRC with the introduction of a harsher penalty regime. HMRC announced their plans for the under-reporting of UK tax assets outside the UK in December 2016, along with a final opportunity to make sure everything is in order, with the “Requirement to Correct” initiative. With... Read More AboutRequirement to Correct: one last shot for your offshore matters and transfers to be in order »

By Kate Saunders

Companies House aiming to be 100% digital

03 Feb 2017
“The Writing’s on the wall for paper filing”, and “Don’t get left behind, file online”, are the messages coming out of Companies House in their current campaign to promote their digital services to accountants and encourage them to file their accounts online. Companies House has declared its intentions to become a 100% digital organisation by the end of 2018/19 in order to increase... Read More AboutCompanies House aiming to be 100% digital »

By Nicola Morgan-Schulz

Stricter Seychelles IBC accounting records requirements

24 Jan 2017
I blogged recently about the record keeping requirements of a company under the new Seychelles IBC legislation, the International Business Companies Act, 2016 (the “Act”). That blog included details about the holding of accounting records under the Act. This blog sets out the requirements in more detail. While there is still no requirement to file accounts in the jurisdiction,... Read More AboutStricter Seychelles IBC accounting records requirements »

By Philip Jacques

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