Offshore

Proposals to introduce a new regulatory structure for investment funds in Guernsey have received support from both fund sponsors and promoters.

The Isle of Man Financial Supervision Commission will hold a draw to see which company will be the first to be set up under the new Manx corporate vehicle.

Offshore centres such as Luxembourg and Ireland are more attractive to fund investors than the UK.

In the last submission we touched on how there are many advisers who have recommended onshore bonds when the offshore alternative may have proved more effective.

A-Day changes have produced a number of inconsistencies between the UK and Isle of Man pensions tax systems.

In the recent past, the to-ing and fro-ing in the pensions world has given us lots of opportunities to talk about offshore.

Jersey is intending to introduce a streamlined authorisation procedure for closed ended investment funds already listed on other stock exchanges.

The Isle of Man Treasury has appointed a new financial controller, with effect from next Monday

"Revealed: how Jersey woos tax avoiders" - this was the headline that screamed from the front page of the business section of the Observer newspaper on Sunday 17 September.

Anglo Irish Bank has transferred its investment business to MAC Financial, a corporate IFA based in the Isle of Man.