Carly Parrott rejoins Carey Olsen as Head of Employment in Guernsey Carly previously served as counsel in Carey Olsen's employment team in Guernsey from 2017 to 2020 and brings with her a wealth of experience and an established reputation as one of the Island's top employment lawyers ...
Carey Olsen advises Pomvom on Business Combination Agreement The proposed transaction would give Pomvom a total equity value of US$125 million and is anticipated to close in Q3 2024. At closing, Pomvom will be listed on the Nasdaq in the United States. Carey Olsen counsel Dylan Wiltermuth and associate Tyler Hawley from the Cayman Islands office advised Pomvom, alongside US counsel Greenberg Traurig LLP and Israeli law firms Goldfarb Gross Seligman & Co. and Barnea Jaffa Lande ...
Guernsey: an ideal domicile for continuation funds Guernsey provides an ideal domicile for continuation funds, with proportionate, principle-based regulation, and a neutral tax environment, facilitating quick-to-market establishments and competitive ongoing costs ...
Carey Olsen's Steven Rees Davies recognised as leading FinTech and blockchain practitioner Who Who's Legal has featured Steven in its 2023 FinTech and Blockchain Report, which recognises leading FinTech and blockchain legal practitioners from across the world. The report showcases lawyers with extensive experience in the FinTech and blockchain space and those that are well practised in assisting clients with implementing blockchain solutions and providing cyber security advice ...
Convening Scheme Meetings: Cayman Islands Court in China Aoyuan confirms the applicable principles Introduction The first stage in any restructuring by way of a scheme of arrangement in the Cayman Islands involves meetings of such classes of creditors or shareholders (as the case may be) to consider, and if thought fit, approve the terms of the scheme. An application to Court is required for orders to be granted for convening such meetings ...
Changes to Stamp Duty, LTT & EPTT in Jersey Increase to the first-time buyer threshold The Law provides a welcome amendment to first time buyer stamp duty rates (and equivalent land taxes such as land transactions tax (LTT) in respect of share transfer properties and enveloped property transactions tax (EPTT)), with the maximum purchase price threshold for first-time buyers increasing from £500,000 to £700,000 ...
Guernsey investment funds update - Q4 2023 Changes to the requirements for individuals acting as a director As noted in our previous update, on 8 July 2023 new regulations to The Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2020 (the “Fiduciaries Law”) came into operation, introducing additional exemptions from the need to obtain a personal licence pursuant to the Fiduciaries Law ...
Jersey investment funds update - Q4 2023 FSJL - Changes to investment business On 31 October 2023, two amendments to the definition of “investment business” (as set out in article 2(2) of the Financial Services (Jersey) Law 1998 (“FSJL”)) came into force. The amendments have been discussed extensively over the last few years via numerous consultations with industry ...
Carey Olsen named Channel Islands Law Firm of the Year at WealthBriefing Awards Independently evaluated by expert panels, these awards celebrate outstanding achievements in the wealth management sector within the Channel Islands. The awards encompass various categories, highlighting excellence among individuals, teams, products, and services catering to wealth managers, clients, and institutions of diverse sizes and types ...
Carey Olsen's FinTech practice ranked Band 1 in Chambers 2024 Guide Carey Olsen Bermuda has advanced two positions to secure its Band 1 ranking, just six years after the office opened. The team has been commended by clients as "really knowledgeable in Bermuda law and very responsive on time-sensitive matters" ...
Channel Island Wills for non-Jersey domiciliaries Do I need a Channel Island Will? It is not essential for you to have a separate Will to cover your Channel Island assets especially if you already have a validly executed Will which covers your entire estate, including Jersey and Guernsey, and which is validly executed. However, there are certain benefits to having a separate Channel Island Will in place ...
1. How do you foresee the evolving regulatory landscape in offshore jurisdictions impacting Asia-based clients in 2024, and what strategies is your firm considering to navigate these changes effectively? Anthony McKenzie (AM): Asia is the world's largest and most populated continent, comprised of many different economies, cultures and laws. The use of Cayman, BVI and Bermuda structures has a long track record throughout Asia and it is this familiarity which has contributed to their popularity ...
What is a JPUT? A Jersey Property Unit Trust (JPUT) is a legal structure whereby legal ownership of assets (primarily non-Jersey real estate) is vested in one or more trustees who hold the assets on trust for the benefit of unitholders upon the terms of a written trust instrument. What are the benefits of a JPUT? JPUTs have many plus points: Familiarity: JPUTs are generally recognised and accepted by investors, lenders, advisers, regulators and tax authorities in the UK and elsewhere ...
Jersey fast-track procedure to obtain Jersey grant In order to obtain a Jersey Grant, we will require the following: The original or a Court sealed and certified copy of the British Grant and Will (if the deceased left a Will). If sending copy documents, please do ensure that both the Will and Grant are separately certified by the Court that issued the original and that each page bears the Court’s seal. A certified copy of the death certificate ...
Probate and estate administration for non-Jersey domiciliaries Why do I need a Jersey grant of representation? Jersey is an independent legal jurisdiction for estate administration purposes ...
Wills for Jersey residents What is a Will? Jersey law treats movable and immovable assets differently for succession purposes, therefore we need to consider them separately when looking at your estate planning needs. Movable assets include things such as bank accounts, jewellery, furniture, cars, life insurance proceeds and shares (including shares in a property holding company entitling the owner to occupy a share transfer apartment) ...
Content Legal and enforcement framework Definitions Virtual currencies market Crossover with banking Technology Data security and cybersecurity Financial crime Consumer protection Competition Taxation Trends and predictions Tips and traps Legal and enforcement framework In broad terms, which legislative and regulatory provisions govern virtual currencies in your jurisdiction? Bermuda has a digital asset sector with a specific legal and regulatory regime that governs both the i
Carey Olsen advises Channel Islands Co-op on purchase of seven Lloyds Pharmacy branches The Co-op has bought four stores in Jersey (The Parade, Red Houses, Quennevais and Gorey Village), and three in Guernsey (St Sampson's, L'Aumone and Longfrie). The purchase of the stores will enable the Co-op to grow and develop its pharmacy business, whilst providing Co-op customers across the Channel Islands with greater access to its community pharmacy services ...
The Probate (Amendment) (Jersey) Law 2023 came into force on 27 October 2023 and has introduced some flexibility for the management of a deceased person's movable (personal) property. Small estates exemption The main change is to the exception for small estates. Under the previous regime it was necessary for someone to apply a grant of probate/letters of administration (a "grant") if a deceased person died leaving any movable property in Jersey of any value whatsoever ...
This briefing summarises the types of company available under Jersey law, the main steps involved in incorporating a Jersey company and some related points. We would be pleased to provide further information on company incorporations and on the purposes for which Jersey companies can be used. There is a range of briefing notes on our website. Types of Jersey company The key governing legislation in Jersey is the Companies (Jersey) Law 1991, as amended (the “CJL”) ...
One solution to this issue is for pension funds to transfer longevity risk to the reinsurance market. Such a transfer can be attractive for both parties. From the pension fund’s perspective, a life reinsurer is often an attractive counterparty, both because of its deep understanding of the nature of the risk being transferred, and because it can provide a balance sheet big enough to assume a meaningful amount of risk from the fund ...
Carey Olsen advises Fission Gamma IC Limited on MMC UK Pension Fund's £2 billion longevity risk transfer Fission Gamma, a new Guernsey-based incorporated cell, was created to insure the longevity risk of the Fund and to reinsure this risk with leading global re-insurer Munich Re. Insuring longevity risk in this way will enable the Fund to protect itself financially against longevity risk ...
Carey Olsen advises Lightspeed Faction on launch of blockchain venture capital fund The fund is a collaboration between Lightspeed Venture Partners (Lightspeed) and the Faction partnership through the newly formed cryptocurrency firm, Lightspeed Faction ...
Carey Olsen in Bermuda advises Hamilton Insurance Group on its Initial Public Offering on the New York Stock Exchange Bermuda-headquartered Hamilton Insurance underwrites specialty insurance and reinsurance risks on a global basis through its wholly owned subsidiaries. Enhanced by data and technology, the firm is focused on producing sustainable underwriting profitability to deliver shareholder value ...
Carey Olsen's James Noble achieves Full (TEP) Membership with STEP By attaining the highest level of membership with STEP, James has earned international recognition as an expert in trusts and estates ...
