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News and Articles

July 2011

Isle of Man signs tax co-operation agreement with the Czech Republic

26.07.11

On 18th July, 2011, the Isle of Man Government continued with its programme of developing closer economic and taxation co-operation with other countries by signing a Tax Information Exchange Agreement (TIEA) and a Joint Declaration with the Czech Republic.

The TIEA is the Isle of Man’s 25th TIEA and its 29th agreement that meets the OECD international standard on tax co-operation and transparency. The signing ceremony took place at the Czech Embassy in London between Anne Craine MHK, the Isle of Man’s Treasury Minister, and His Excellency Mr Michael Zantovsky, the Czech Ambassador.


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June 2011

Isle of Man Signs Tax Co-operation Agreements With Slovenia

28.06.11

Two tax agreements between the Isle of Man and the Republic of Slovenia were signed on the 27th June by His Excellency Iztok Jarc, the Slovenian Ambassador , and by Isle of Man Treasury Minister, Anne Craine MHK.

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The Isle of Man Means Business

28.06.11

The Department of Economic Development (the Department) has recently announced a number of significant changes to the way the Isle of Man approaches the promotion of Financial Services and related industries in the Isle of Man. The Department is embarking on a radical shake-up which will mean a more collaborative approach with industry and the creation of a new Public Private Sector promotional model allowing the sharing of resource and funding between all parties.

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Cayman National Appoints Nigel Wardle to Board of Directors

Cayman National Appoints Nigel Wardle to Board of Directors

24.06.11

Cayman National Corporation Ltd.is pleased to announce the appointment of Nigel Wardle to the Board of Directors.

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Phil O'Shea appointed to key role within UK National Charity

15.06.11

Phil O’Shea has been appointed Deputy Chair of the National Advisory Board for Crimestoppers, the independent charity dedicated to the fight against Crime.

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OECD praise for Isle of Man

08.06.11

The OECD (Organisation for Economic Co-operation and Development) has praised the Isle of Man for the way that it exchanges information with other countries.

The peer review assessment was carried out by a team of experts on behalf of the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes, which involves over 90 countries including the Isle of Man.

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A Foundation For The Future, Guest article by Kevin O'Loughlin, Simcocks Advocates

06.06.11

The Foundations Bill 2010 has made its way through Tynwald in the Isle of Man, and is expected to be law in late-2011. Kevin O’Loughlin of Simcocks Advocates summarises what will be the main characteristics of an Isle of Man foundation.

Foundations have long existed in the law of continental jurisdictions, but common law jurisdictions are increasingly legislating to introduce the concept. The purpose of the Bill is to allow for the establishment of foundations in the Isle of Man; foundations will add to the number and range of products available to the financial services sector in the Isle of Man; and foundations will provide a new vehicle which may permit entry by the Isle of Man into new markets in an increasingly competitive environment.

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How To Prevent Bribery and Corruption? Guest article by Adam Kelly, Simcocks Advocates

06.06.11

Now that the final guidance has been published for the UK Bribery Act 2010 which will come into force on 1 July 2011 it is important to check how the Act will impact Manx companies doing business in UK. Adam Kelly from the Corporate and Commercial department of Simcocks Advocates explains the implications.

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May 2011

How Can Clients Have Confidence That Their Chosen Financial Institution Remains Sound? Guest Article by Phil O'Shea , Non-Executive Director of Cayman National Isle of Man

16.05.11

In many ways the huge turmoil which affected the global financial sector in 2008 has abated, with more frequent references to financial institutions returning to profitable operations and with the press highlighting examples of attractive products on offer.

However, closer review highlights that systemic improvements have not been completed, that national economies such as Greece, Ireland and Portugal have been destabilized to a high degree and require external support to pay their debts and that huge amounts of potentially toxic debts remain live, albeit segregated into a controlled “pot”.

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Isle of Man Signs Tax Co-operation Agreement with Mexico

10.05.11

The Isle of Man has signed a Tax Information Exchange Agreement (TIEA) with Mexico.

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March 2011

Isle of Man Signs Tax Co-operation Agreement with Poland

08.03.11

The Isle of Man signed three agreements with the Republic of Poland on 7th March 2010. The signing ceremony took place at the Polish Embassy in London between Her Excellency, Barbara Tuge-Erecinska, Ambassador of the Republic of Poland, and the Isle of Man Treasury Minister Anne Craine MHK.


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Why Litigate When You Can Mediate? Guest article by Laurence Vaughan Williams

01.03.11

Litigation costs money. If you or your company or bank are involved in litigation you know that already.
There is an answer.

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