NEWS

Photo By: Shanghai Pix July 20th, offshore legal, fiduciary and administration service provider Appleby has announced 'the management buyout of its fiduciary business (AFB) for an undisclosed sum, backed by private equity firm Bridge-point'.  AFB provides trust and corporate services (TCS) administering over 10,000 structures for almost 6,000 clients from nine locations. It has a strong position in niche markets such as employee benefit trusts in Jersey, the insurance market in Bermuda, and collateralized loan obligations in the Cayman Islands, according to Bridgepoint. As well as TCS services, the business provides fund services, advising in the launch and incorporation of...

NEWS 2020

Photo By: X-Images A delegation from Gibraltar recently visited Singapore and Hong Kong to explore areas of mutual cooperation and to promote the island's financial services offerings. The delegation included representatives from Gibraltar Finance - the territory's financial services promotional agency, the Financial Services Commission, and a contingent from the private sector including lawyers, accountants, fund administrators, insurance professionals, and representatives from the Gibraltar Stock Exchange. During the visit from July 6-9, 2015, the Gibraltar delegation held technical sessions, including presentations, for professionals in the fund and asset management sectors. The sessions focused on marketing funds in the EU, fund...

NEWS 2020

Photo By: Getty The Securities and Futures Commission (SFC) has released its annual survey, which showed the combined fund management business in Hong Kong sustaining another year-on-year increase to reach a record high at the end of 2014 of almost HKD17.7 trillion (USD2.3 trillion), up 10.5 percent. The survey's findings indicate that Hong Kong remained a preferred platform for international investors, who contributed an historic high of HKD12.4 trillion and accounted for 71 percent of the fund management business. Assets managed in Hong Kong increased by nearly 18 percent to a record level of HKD6.85 trillion. "The latest survey underscored...

NEWS 2020

Photo By: GettyImage According to conventional wisdom, wars are easy to start and difficult to end. Similarly Beijing’s devaluation, the biggest one-day currency move since 1993, represents the latest skirmish in an emerging battle which, analysts warn, may be hard to reverse. The move marks a shift in China’s historical policy during times of economic stress. In the late 1990s, the country was widely credited with containing the destruction from the Asian financial crisis because it held fast to the renminbi exchange rate in the midst of competitive devaluations throughout the region. In the global financial crisis of 2008, Beijing...

NEWS 2020

Photo By: Isle of Man The Isle of Man Government has welcomed a decision from a Shanghai-based multimedia group to establish operations in the Isle of Man, describing it as the latest in a succession of Chinese companies to set up in the Isle of Man following a campaign by the Department of Economic Development over the past three years to attract business from the region.  Gush Multimedia Arts (GMA) Ltd is part of the Gush Multimedia Group of companies. The company is significant in that the parent company and management have decades of experience in documentary and educational film...

NEWS 2020

Photo By: BVI The British Virgin Islands' new intellectual property regime will come into force on September 1, 2015. Previously any person could register a trademark, both from within and outside the BVI. Under the new regime people wishing to register trademarks must first be approved as a Trade Marks Agent by the Financial Supervision Commission. The change will be effective immediately upon the enactment of the new legislation but any applications submitted before that date will be processed under the old system. The new legislation also clarifies a number of key issues including: the entitlement for registration of a...

NEWS 2020

Photo By: Over Hong Kong A new one-stop web portal was launched on August 11 to provide information to people considering relocating to Hong Kong, as part of ongoing initiatives to attract talent and entrepreneurs to the city. The Chief Executive announced in his Policy Address in January this year that Hong Kong would be "more proactive in attracting talent to help tackle the demographic challenges of an ageing society, a shrinking workforce, and a declining birth rate." The portal, "Hong Kong Welcomes U," brings together a wide range of information on employment, education, investment, and immigration matters as well...

NEWS 2020

Photo By: GettyImage Just fewer than 16,000 new businesses were formed in Singapore in the second quarter of 2015, marking a nine percent increase over the number of companies formed in the first quarter of the year. According to the latest company registration statistics published quarterly by corporate services provider Hawksford Singapore, there were 15,964 new business formations in Q2 2015 against 14,641 registrations in the first three months of the year. More than half of these new companies (54.7 percent) were private limited companies. Of the total number of private limited companies formed in the second quarter of 2015,...

NEWS 2020