Welcome to the fourth edition of our Private Client Bulletin, bringing you the latest private client and trust news and insights from Bermuda, the Cayman Islands, BVI and Asia. As spring returns we are seeing signs of new life, despite how the pandemic continues to disrupt. These challenging times have led many HNW families and individuals to take a fresh look at their wealth structures and long-term plans, and in some cases where they are based.
Bermuda, the Cayman Islands and BVI have recently passed legislation with regards to the economic substance of certain entities based in those jurisdictions, in order to meet requirements set down by the EU’s Code of Conduct Group (Business Taxation).
Conyers lawyers can help you determine whether or not your entity or proposed entity will be in scope of the legislation.
We advise on the laws of Bermuda, the British Virgin Islands and the Cayman Islands from offices in those jurisdictions and those connected to the world’s financial centres and stock exchanges.
What a year it has been since our last Insurance Bulletin in March 2020. Although the full impact of Covid-19 on the re/insurance industry remains unclear, the need to retain capital to meet potential losses has contributed to a general hardening of the market after 15 years of soft market conditions characterised by excess capacity, low prices and more relaxed policy terms.