Singapore has been accelerating its tightening of various investment regimes since March after at least one of the defendants in a recent SGD3 billion (USD2.2 billion) money laundering case was involved a family office that received tax exemptions, Bloomberg reported, citing people with the knowledge of the matter. Singapore asked family offices and hedge funds to provide more information and further close down inactive business entities.
Family offices that were reportedly granted tax exemptions received new forms in May requesting more detailed information, and the forms need to be submitted by the end of June. Meanwhile, the Monetary Authority of Singapore (MAS) confirmed that it would abolish the licensing regime for hedge funds with assets of up to USD250 million by 1 August and replace it with a more stringent reporting mechanism.
Advocacy group the Tax Justice Network has ranked the British Virgin Islands, followed by the Cayman Islands and Bermuda as “most complicit” in helping multinational corporations underpay corporate
Press Release from Carey Olsen, Friday 7 March, 2025. Carey Olsen has been shortlisted for Offshore Law Firm of the Year at the Chambers Europe Awards 2025, having won the award in 2023 and 2022. The
Budget Prioritizes Financial Inclusion Through Crypto InnovationSouth Africa has unveiled plans in its 2024 budget to incorporate stablecoins and blockchain technology as part of a strategic shift towards
The Caribbean countries that offer Citizenship by Investment Programmes (CIP/CBI) have taken a practical step towards the establishment of a regional regulator by appointing an Interim Regulatory Commission