Does Cyprus have a clean Anti Money-Laundering record?

After the 2013 banking crisis and the scrutiny on Cyprus’ business deals with Russia, Cyprus now comes under peer review as per the Financial Action Task Force (FATF) an initiative established by the OECD.

We host regular free webinars on topics related to the incorporation and maintenance of companies, banking and tax systems in different jurisdictions. Our presenters are qualified and certified specialists.

UK Overseas Territories: Sunny places for shady people?

The British Virgin Islands (BVI) has been named more than 113,000 times in the disclosed documents from Panama Law firm Mossack Fonseca, the Bahamas over 16,000 times and Aguilla over 4,000.

Why were so few US citizens named in the Panama papers?

After information was leaked regarding thousands of overseas companies from accounts held in Panama, the offshore industry has come under scrutiny with experts asking why so few US citizens were involved in the papers.

Top ten jurisdictions for financial secrecy revealed

In light of recent information disclosed in the Panama papers, the Central American nation is under more scrutiny about its tax transparency than ever before. International financial organisations warn that Panama is not even in the top 10 jurisdictions for aiding reporting secrecy.

US Treasury petitions for full disclosure of Beneficial Ownership data

The Treasury in the US is petitioning for the introduction of federal legislation to regulate newly formed companies and other legal entities to provide full details of the Beneficial Owner to the IRS (Internal Revenue Service).

Panama papers scandal show cracks in Iceland’s leadership

After millions of confidential client records from the Panama law firm Mossack Fonseca, were stolen and leaked to the national tax authorities, Mr Sigmundur David Gunnlaugsson, the Icelandic Prime Minister has stepped down over allegations he hid millions of dollars in a BVI company.

Latvian banks no longer accepting clients from “tax haven” jurisdictions

In an effort to move in line with OECD (Organisation for Economic Co-operation and Development) member state requirements and the FATF (Financial Action Task Force), Latvia is hopeful to follow suit after Estonia’s acceptance to become an OECD member state.

FASB amends reporting requirements for US companies

The Financial Accounting Standards Board (FASB) in the US have published an update to improve the current system of financial reporting regarding leasing transactions. The update will affect any companies that are leasing any assets in the form of property, vehicles, or general equipment.