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enarmanila
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 Posted - 26 March 2006 : 10:47:06
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Offshore Business Magazine (www.magverlag.com) is one of the largest and fastest growing free digital magazines for the offshore world. Reaching an audience of more than 10 000 readers worldwide, the magazine has now launched its sixth (6) issue.
Download it for free (PDF)..
http://www.magverlag.com
Or click:
http://www.magverlag.com/offshore/ccount/click.php?id=9
Magazine Cover (Image)
http://www.magverlag.com/pix/Urge_flash_1.jpg
#06 - In this issue:
THE MAURITIUS GLOBAL BUSINESS SECTOR Mauritius formally launched its Offshore Business Activities in 1992 when comprehensive legislation was introduced to allow Offshore Banking and Non-Offshore Banking activities to be undertaken on the Island. Since then several changes were made in order to keep pace with developments in the International Financial services industry. Offshore companies incorporated in Mauritius are now known as Global Business companies. Full story on page.15
JERSEY INTRODUCES ADVANCES TO CELL COMPANY INVESTMENT STRUCTURES New legislation in Jersey permits the creation of cell companies and includes innovative features which extend the scope of their use for investment purposes. Full story on page.17
CAYMAN CALLING - THE CONTINUING DRAW OF THE HEDGE FUND INDUSTRY IN THE CAYMAN ISLANDS With an estimated 75% of the world's hedge funds now domiciled in the jurisdiction, the Cayman Islands are continuing to strengthen their position as the world's number one offshore domicile for hedge funds. This comes as no great surprise given the Cayman Islands' well established and highly favourable regulatory and professional environment and the common perception in many quarters that it is now hard to justify why a hedge fund should be established elsewhere. It is certainly true that success breeds success. Full story on page.18
BERMUDA COLLECTIVE INVESTMENT SCHEMES AND THE EU DIRECTIVE The Minister of Finance of Bermuda recently announced that the Ministry of Finance had successfully concluded discussions with Swiss tax authorities concerning the application of the Swiss Guidelines for the European Union Directive on Taxation of Savings Income (the "EU Directive") on Bermuda domiciled funds offered exclusively to sophisticated investors. Full story on page.22
A REVIEW OF PROPOSED REFORM TO THE MUTUAL FUND REGULATORY REGIME IN THE CAYMAN ISLANDS The Cayman Islands Government is expected shortly to release proposals with the object of enhancing the island's mutual fund regulatory regime following further consideration of the 2004 Working Group Report (the "Report"). Full story on page.26
COLLATERALIZED DEBT OBLIGATIONS (CDOS) ARE BEING CREATED AT A RECORD PACE IN THE CAYMAN ISLANDS Walkers said today that collateralized debt obligations (CDOs) are being created at a record pace -- with more than 270 CDO transactions established in the Cayman Islands in 2005, representing approximately $125 billion in assets. The number of CDOs issued in the Cayman Islands has grown more than 100 percent in the past two years. Full story on page.29
BERMUDA PARTNERSHIPS: ATTRACTIVE VEHICLE FOR VENTURE CAPITAL AND PRIVATE EQUITY "There have been recent changes to Legislation in respect of Bermuda partnerships which are typically used for venture capital private equity, real estate and other investment opportunities for institutional and high-net worth investors. The changes to the Partnership Legislation further enhance and simplify the operation of Bermuda partnerships, with their uncomplicated and sensible regulation which suits the needs of sophisticated investors. Full story on page.30
CAYMAN ISLANDS BANKERS' ASSOCIATION CONFERENCE 2006 `THE CHANGING FACE OF BANKING' WILL BE ANOTHER EXCITING AND VALUABLE EVENT The Cayman Islands Bankers' Association has announced the date for its 2006 biennial conference with the theme "The changing face of banking - the future of banking in the Cayman Islands" to be held on May 22-23. Full story on page.31
ANGUILLA, BWI: AN EFFECTIVE AND USER-FRIENDLY JURISDICTION FOR OFFSHORE HEDGE FUNDS. In 2004, Anguilla enacted its Mutual Funds Act ("the Act") which seeks to establish the jurisdiction as a domicile for offshore hedge funds. The Act provides for the recognition of private and professional funds, registration of public funds and licensing of fund managers and administrators. Full story on page.33
GLOBAL GUERNSEY LOOKS TO BRIGHT FUTURE Dedication and adaptability were highlighted as two of Guernsey's key strengths by a top London lawyer who addressed a capacity audience of 400 representatives of the island's financial services industry and politicians. Full story on page.38
Confidentiality IN BERMUDA ARBITRATIONS Bermuda has two separate and distinct systems of arbitration. The first, which applies to international commercial arbitration, is under the Bermuda International Conciliation and Arbitration Act 1993 and adopts the UNCITRAL Model Law. The second, under the Arbitration Act 1986, applies to all arbitrations which are not international commercial arbitrations and adopts the law which applied in England before the 1996 reforms. Full story on page.40
CAYMAN CAPTIVE INSURANCE SECTOR CONTINUES GROWTH Cayman's captive insurance sector continued to grow in 2005, with 733 Caymanlicensed captives active at 31 December. This represents a six percent increase from December 2004 when 693 captives were active. Full story on page.42
JERSEY BEGINS TO SEE BENEFITS OF ASIAN VISIT Jersey Finance believes that its Finance Industry can take advantage of opportunities to develop business links with China, particularly in the area of raising capital and supporting inward foreign investment in the country. Full story on page.43
ASSET MANAGEMENT IN LIECHTENSTEIN Liechtenstein will enact the new law on asset management (VVG) as at 1 January 2006. This makes Liechtenstein fully compliant with the EU Directives 2004/39/EG of the European Parliament and European Council dd. 21 April 2004 on markets for financial instruments (to amend earlier EU Directives 85/611/EWG and 93/6/EWG and 2000/12/EG and to cancel the EU Directives 93/22/EWG). Full story on page.44
LABUAN OFFSHORE FINANCIAL SERVICES AUTHORITY (LOFSA) CELEBRATING ITS 10TH ANNIVERSARY (14 Feb 2006) Labuan Offshore Financial Services Authority (LOFSA) celebrates its 10th Anniversary on 15 February 2006. LOFSA was established under the LOFSA Act 1996 on 15 February 1996 as the single regulator for Malaysia's International Offshore Financial Centre (IOFC) in Labuan. The establishment of LOFSA, which commenced operations in March of the same year, has propelled the growth and business development of the IOFC. Full story on page.51
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ISSUE #06 OF "OFFSHORE BUSINESS MAGAZINE" HAS BEEN
