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DQ Advocates
Greg Jones considers the fate which may await the UK's super rich following this week's UK General Election…
Dixcart
Common law countries have traditionally used trusts while civil law countries have historically used foundations.
Appleby
It is also usual practice for a liquidator to require the shareholder or beneficial owner of the company to provide him with an indemnity in advance of agreeing to be appointed.
Dixcart
A Family Investment Company ("FIC") is a company in which the shareholders are family members, often from different generations.
Simcocks
Dealing with business assets on divorce can be complex. Are you a shareholder, a director or both? Do you assist in running the business? If you are the business owner, do you want to keep the business? If so, how will you compensate your ex?
Simcocks
Regardless of whether you are a Man Utd fan or not, Giggs has undoubtedly generated substantial wealth during his football career. It has been widely reported that he and his wife, Stacey, are divorcing.
Appleby
Investing trust property can be a challenging business for trustees – their obligations are many and onerous, the standards they will be measured against are high, and the consequences of failure severe.
DQ Advocates
Annemarie Hughes, director and head of the team is delighted to announce the launch of the new Isle of Man chapter of the guide, one of a number of Practice Guides produced by Chambers and Partners.
Appleby
Although he passed away earlier this year at the age of 87, the affairs of Albert Gubay have not been laid to rest
Dixcart
Families are becoming more and more mobile. There are many attractive residence schemes available around the world and family members are increasingly living in different countries.
Appleby
Pensions may be an issue of old, but at least the regulations have been brought into the 21st century!
Appleby
Pension Schemes Legislation (Application)(Amendment) Order 2013 [SD No 0353/13], approved by Tynwald 19 November 2013, came into operation 19 November 2013.
Appleby
Companies incorporated outside the Isle of Man carrying on business in the Island which have established a place of business in the Isle of Man, are currently registered under Part XI of the Companies Act 1931 (Part XI).
Appleby
1 February 2014 may be a Saturday, but it is still a significant business day in the Isle of Man financial services sector.
Appleby
New regulations made under the Financial Services Act 2008, called the Transfer of Business including Deposit-Taking Regulations 2013 (the "Transfer Regulations"), have been approved by Tynwald and will come into effect on 1 February 2014.
Appleby
Further to the FATCA Brief issued to clients of Appleby in November 2013, we present below a tailored addition to the Brief specific to investment funds that are domiciled in a jurisdiction that has either entered, or has confirmed it will enter, into a Model 1 Intergovernmental Agreement (IGA) with the US Treasury in respect of the US Foreign Account Tax Compliance Act (FATCA).
Simcocks
Isle of Man foundations are mainly used for private wealth and charitable purposes although there is no reason why they cannot be used in a commercial context.
DQ Advocates
The codification of the rule in Hastings-Bass and the principles in relation to mistake has just taken effect in Jersey.
DQ Advocates
The recent Jersey case of In the matter of the C Trust (2012) is a reminder to all trustees of the importance of ensuring they undertake a proper decision making process.
Appleby
The Isle of Man has a full suite of fund options, but the exempt scheme is a flexible and low cost vehicle that is wholly outside the scope of fund regulation in the Isle of Man and is suitable for use in relation to start up private funds.
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