/blog Insights and tips from the caribbean's foremost offshore legal team Mon, 06 Sep 2010 20:07:26 +0000 http://backend.userland.com/rss092 en Two decisions have recently been issued by the UK courts regarding UK tax residence which will have implications for certain international assignees inbound to and outbound from the UK. The first — the Gaines-Cooper case — concerns the circumstances in which an individual ceases to be UK tax resident, while ... /blog/index.php/2010/09/06/residence-and-ordinary-residence-in-the-uk-extracted-from-the-sovereign-report-issue-35-june-2010/ General Information In 2007 the International Foundations Act 2007 was put into effect allowing for the regulation of the International Foundations and related matters. It is a species of foundation that is a separate legal entity where the founder makes a disposition of property which ceases to be part of his ... /blog/index.php/2010/07/16/international-foundations-act-2007/ By David Jessop The Doha Round at the World Trade Organisation (WTO) is deadlocked. Although officials and Ambassadors continue behind the scenes to negotiate building blocks for an eventual agreement, there is sense that the political will required to re-energise the process does not exist. So much so that in Geneva there ... /blog/index.php/2010/07/15/the-view-from-europe/ By  Vangie Bhagoo (Courtesy CMMB vangie.bhagoo@mycmmb.com) Over the past two years, the world witnessed a truly Keynesian approach to the economic crisis, as government expenditure ballooned in a valiant effort to shore up economic activity and to prevent a protracted global recession. Arguably, expansionary fiscal policy was the primary reason for the relatively ... /blog/index.php/2010/03/24/sun-sand-sea-and-debt%e2%80%a6the-caribbeans-limited-fiscal-space/ By Diana Ramroop (Courtesy Caribbean Money Market Brokers CMMB) It’s that time of the year again, when the Christmas tree is up, our homes are decorated, the malls are filled with lavish Christmas decorations, radio stations fill the air with happy and joyous Christmas songs and we are probably all bus y ... /blog/index.php/2009/12/18/where-has-the-year-gone/ TAX ALERT On Wednesday, December 9, the UK government announced a one-off, 50 percent tax on discretionary bonuses awarded or paid by the financial services industry during the period December 9, 2009, to April 5, 2010. The draft legislative language is potentially subject to change and is unlikely to be voted ... /blog/index.php/2009/12/15/uk-announces-50-percent-bank-payroll-tax-on-financial-service-industry-bonuses-awarded-or-paid-between-december-9-2009-and-april-5-2010/ ·  The Dow Jones industrial average yesterday fell below 8,000, shedding 4 percent, its bleakest performance on any Inauguration Day since the index was started 124 years ago. Nasdaq and the Standard & Poor's 500-stock index both plunged more than 5 percent. Disillusioned investors fled financial companies as fresh evidence mounted ... /blog/index.php/2009/01/21/as-washington-celebrated-new-york-fretted/ One may recall optimistic proclamations made in 2008 that Trinidad and Tobago (T&T) would not be affected by the global financial crisis; however, to date we see evidence that the T&T is by no means insulated from the global financial and economic turmoil. To an extent, the premise that the ... /blog/index.php/2009/01/16/caribbean-economies-wake-up/     Introduction Antigua and Barbuda is a twin island state located in the Eastern Caribbean. The major island, Antigua, is 108 square miles in size with a resident population of approximately 65,000 with more than one-third of the population living in the capital city of St. John's. Barbuda has a population of ... /blog/index.php/2008/12/06/the-gaming-sector-in-antigua-and-barbuda/   1. Introduction   An IBC intending to carry on international banking business is required to have a licence under section 229 of the International Business Corporations Act.  The articles of incorporation of such corporations will have to provide that the corporation is restricted from carrying on any international banking business unless the ... /blog/index.php/2008/10/03/application-guidelines-for-licence-to-carry-out-international-banking-business-under-section-228-of-the-international-business-corporations-act/