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The British Virgin Islands in digital movement: Peer-to-peer lending introduced
Investment Funds

The British Virgin Islands in digital movement: Peer-to-peer lending introduced

Since the rushing air of financial technology hit the shores of the British Virgin Islands over the last few years, many BVI based service providers have been busy servicing this new and exciting area of business. The growth of FinTech is perhaps unavoidable as the world continues to digitize and electronic transactions continue to prove more beneficial to consumers, in terms of cost and effectiveness. As a result, the interest venture capitalists have taken in this burgeoning industry is undeniable and offshore jurisdictions like the BVI continue to take electronic steps in order to keep pace with the demands of the new kids on the blockchain.
Cayman Islands AML update: 31 December 2018 AML officer deadline reminder and amended guidance notes
Investment Funds

Cayman Islands AML update: 31 December 2018 AML officer deadline reminder and amended guidance notes

As we noted in our earlier alert, investment funds that already existed on 1 June 2018 and which are registered with the Cayman Islands Monetary Authority (CIMA) as mutual funds, have to notify CIMA with details of the natural persons, at managerial level, appointed as their AML Officers. These appointments had to be made by 30 September 2018 and the notification has to be filed on CIMA’s REEFS portal by 31 December 2018.
Investment funds in Cyprus (non-UCITS)
Investment Funds

Investment funds in Cyprus (non-UCITS)

Cyprus is one of the up and coming funds jurisdictions in the European Union. For years popular for foreign direct investment in Central and Eastern Europe and the Middle East, the Cyprus’ funds regime now caters fully for pan-EU regulation under the Alternative Investment Fund Managers Directive 2011/61/EU while concurrently providing for lighter-touch alternatives. Importantly, Cyprus continues to be one of the most tax-competitive jurisdictions in the EU.
Comparative legal guide to Cyprus: Fintech
Investment Funds

Comparative legal guide to Cyprus: Fintech

This country-specific Q&A, published by Legal 500 and the In-House Lawyer, provides an overview to Fintech law in Cyprus. It covers open banking, regulation of data, cryptocurrencies, blockchain, AI and insurtech; and is part of the global guide to Fintech. Harneys authors: Partners Aki Corsoni-Husain, George Apostolou, and Associates Katerina Katsiami and Marina Stavrou.
Economic substance latest developments for BVI and Cayman Islands
Investment Funds

Economic substance latest developments for BVI and Cayman Islands

The BVI and the Cayman Islands have made a commitment to address the concerns of the EU Code of Conduct Group around economic substance and to introduce appropriate legislation addressing this issue before the end of 2018.
Comparative legal guide to Cayman Islands: Fintech
Investment Funds

Comparative legal guide to Cayman Islands: Fintech

This country-specific Q&A, published by Legal 500 and the In-House Lawyer, provides an overview to Fintech law in the Cayman Islands. It covers open banking, regulation of data, cryptocurrencies, blockchain, AI and insurtech; and is part of the global guide to Fintech. Harneys authors: Partners Ian Gobin and Matt Taber, and Senior Associate Daniella Skotnicki.