Featured Bermuda

EU updates tax haven blacklist, adds UAE, Bermuda

The European Union has published its updated list of non-cooperative jurisdictions for tax purposes, dubbed the tax haven blacklist, adding ten jurisdictions to the existing five states. The new additions include Bermuda and the UAE. “Those jurisdictions did not implement the commitments they had made to the EU by… Read More

BVI warns of economic harm over new UK public registers plan

The British Virgin Islands has hit out at the United Kingdom’s plans for its Overseas Territories to publish publicly accessible registers naming the beneficial – or real – owners of firms, saying it already provides the UK with such information and the scheme could have a negative impact on its… Read More

UK territories ordered to open up about secretive companies

Britain’s government agreed on Tuesday to order its overseas territories to make secretive company ownership information public to try to tackle corruption and tax avoidance. Overseas territories and crown dependencies have come under increasing pressure to reveal who is behind anonymously owned companies, with campaign groups saying such secrecy aids… Read More
13th March 2018
The European Council has added three states to the Annex 1 list of non-cooperative jurisdictions, dubbed the EU tax blacklist, saying they have failed to make commitments at ‘a high political level’ to address issues raised. The Bahamas, Saint Kitts and Nevis and the US Virgin Islands were added on… Read More
13th February 2018
A quarter of property in England and Wales owned by overseas firms is held by entities registered in the British Virgin Islands, BBC analysis has found. The Caribbean archipelago is the official home of companies that own 23,000 properties – more than any other country. They are owned by 11,700… Read More
10th January 2018
An accountant, his wife and their financial adviser are due to stand trial for their alleged roles in laundering nearly $2.5m (£1.84m) from the Government of Bermuda. Jeffrey Bevan, 50, from Cwmbran, his wife Samantha Bevan, their friend, Joel Ismail, and financial adviser Paul Charity deny all the charges against… Read More
29th November 2017
KYC360 News European Union parliamentarians (MEPs) have called for a special inquiry into details of aggressive tax planning uncovered by the Paradise Papers. MEPs belonging to the Special Inquiry into Money Laundering, Tax Evasion and Tax Avoidance (PANA) have called for the creation of a permanent standing committee to probe… Read More
15th November 2017
By Sam Strangeways, Royal Gazette A lack of regulation for betting shops could raise red flags when the island’s anti-money laundering measures are investigated by overseas experts next year. Correspondence shared with The Royal Gazette reveals that warnings about the absence of controls to prevent dirty-money transactions within the betting… Read More
13th November 2017
By Scilla Alecci, ICIJ From film stars to famous manga artists, journalists working on the Paradise Papers investigation have followed the money to cities where the streets do have names – and where local authorities, in at least one case, were asking questions. Files from the Maltese corporate registry revealed… Read More
6th November 2017
By Francesco Guarascio, REUTERS European Union states will on Tuesday discuss plans for a tax havens’ blacklist, officials said, in a bid to tackle offshore tax avoidance after leaked documents revealed investments by wealthy individuals and institutions around the globe. The subject’s inclusion on the monthly meeting’s agenda of EU… Read More
25th July 2017
We know there are tax havens. We just can’t agree on where they are. Although many countries recognise that major corporations divert tax revenue—there’s a reason, after all, why US multinationals hold more than $2 trillion overseas—collective action is tough. Read More
25th May 2017
The Bermuda Police Service has completed training for detectives in the Organised and Economic Crime Department. Partnering with the British National Crime Agency and the Metropolitan Police National Counter Terrorism Command, 11 officers travelled to Britain to complete training in anti-money laundering, confiscating criminal proceeds, and terrorism finance investigations, according… Read More
23rd May 2016
A major overhaul of Bermuda’s laws on bribery, corruption and fraud has been unveiled by Attorney-General Trevor Moniz. Read More