Baxian Private and Investment Bank has secured a full digital bank licence in Labuan. Read the exclusive interview with Founder and President Mr. David Chong on DigFin to learn more about this milestone achievement.

On 3 June 2021, the Cayman Islands DITC issued updates on Economic Substance Practice Points. Stay informed on key clarifications and compliance expectations for relevant entities. Read the full details via the official DITC circular.

Effective 12 May 2021, the Seychelles FSA has implemented remote procedures for IBC registry services due to COVID-19. Transactions such as incorporations, M&A stamping, and certificate issuance will be processed via email to minimize face-to-face contact.

Cayman Financial Institutions must appoint a Principal Point of Contact and Authorising Person for CRS/FATCA reporting via the DITC Portal. Compliance reviews begin April 2021. Review classification and obligations to avoid penalties.

Reminder: The deadline for submitting your Cayman ES Annual Return is approaching. Avoid late penalties of CI$5,000 plus CI$500 per day. Portcullis offers a filing service to assist with timely submission.

The Cayman Islands enforces new Private Funds Regulations requiring annual returns and notifications for non-capitalised funds. Filing deadlines are extended until forms are finalised. Learn more about compliance requirements and filing fees.

Entities in the Cayman Islands conducting relevant activities must submit Economic Substance Returns via the DITC Portal. Portcullis offers filing services and outlines how to appoint secondary users, submission requirements, and penalties for non-compliance.

Cayman’s Registrar of Companies is now enforcing the Beneficial Ownership Regime, issuing penalties and warnings to companies that fail to maintain accurate records of their ultimate beneficial owners.

The DITC announces key Cayman updates: 2019 CRS Compliance Form deadline extension, new Economic Substance functions on the portal, OSP registration, and first-year ES filing timelines.

The DITC announces updates to Economic Substance reporting, including new portal availability and extended deadlines for the first reporting year. Read the full advisory here.

The DITC has updated Economic Substance return samples and clarified filing requirements for tax-resident entities. Access the latest forms and industry advisory here.

Cayman entities conducting Relevant Activities must file an Economic Substance Annual Return via the DITC Portal. Learn about requirements, deadlines, and support options.

Seychelles enforces new Beneficial Ownership Regulations from 28 August 2020, requiring legal entities to maintain and submit a register of beneficial owners. Learn about compliance obligations, definitions, and penalties.

Explore how Singapore’s Variable Capital Company (VCC) structure is reshaping its asset management landscape. Allard de Jong of Portcullis discusses its benefits, challenges, and future impact on fund managers in Asia.

Portcullis outlines new Cayman Islands regulatory fees, including a USD183 CIMA management license and a USD350 compliance support fee for economic substance and beneficial ownership filings from 2021.

The Cayman Islands Government supports the UK’s move towards public registers of company beneficial ownership, reinforcing global transparency and efforts to combat illicit finance.

The Cayman Islands’ Companies (Amendment) (No. 2) Law, 2020 introduces new obligations on CSPs, administrative fines, and enforcement powers concerning beneficial ownership registers and non-compliance penalties.

The Cayman Islands has introduced new legislation to regulate virtual asset service providers, enhancing its fintech framework and requiring licensing or registration for crypto-related businesses.

Seychelles companies must comply with statutory record-keeping and filing obligations, including updated rules on registers, meeting minutes, and accounting records. Government fee revisions apply from 1 April 2020.

Reminder for Cayman companies to meet extended deadlines for Annual Return, Economic Substance Notification, and updates to Beneficial Ownership and Members Registers by 30 June 2020. Penalties apply from 1 July.

Cayman Islands updates the definition of “beneficial owner” from “more than 25%” to “25% or more” of shares or voting rights. Ensure your registers are updated accordingly.

The Cayman Islands extended deadlines for annual fees, annual returns, Economic Substance Notifications, and beneficial ownership filings due to COVID-19. Learn more and access official circulars.

Singapore’s VCC framework offers fund managers flexibility across fund types and access to tax exemptions. Learn how Portcullis supports VCC setup, administration, and compliance end-to-end.

BVI issues a second revision of its Economic Substance Rules with clarifications on compliance plans, tax residency, IP holding, outsourcing, and more. View the full update published on 10 February 2020.

This circular from Portcullis explains how financial periods are determined under BVI Economic Substance law and outlines key reporting deadlines for entities conducting or not conducting relevant activities.