The Perfect Storm |
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| Jens Alers, Managing Director, Bernhard Schulte, Bermuda | |
| Jens Alers contemplates how a collapse in demand for shipping, an inflated newbuilding order book and a lack of financing have combined to create “the perfect storm” for the shipping industry. He reflects upon the overdue structural cleanup which is now inevitable and explores the options for those seeking to invest in the maritime business.
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Shipping Recovery: Is it feasible? |
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| George Economou, G.C. Economou & Associates, Athens, Greece | |
| George Economou provides statistics relating to growth in the supply of ships, he considers the current liquidity crisis and offers some thoughts on the inevitable recovery of the shipping industry.
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Offshore Thrust - Aviation Finance and Leasing |
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| Conyers Dill and Pearman’s Aviation team: Julie McLean, Bermuda, Robert Briant, British Virgin Islands, Kevin Butler, Cayman Islands, Nicolas Richard, Mauritius | |
| An examination of aircraft financing and leasing comparing Bermuda and the Cayman Islands together with the British Virgin Islands and Mauritius.
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The Next Steps in the Attack on Tax Competition |
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| Daniel J. Mitchell, Senior Fellow, Cato Institute, Washington D.C., USA and Hiwa Alaghebandian, Researcher, the College of William and Mary, Washington D.C., USA | |
| Daniel Mitchell and Hiwa Alaghebandian argue that the recent acquiescence of low-tax jurisdictions and international financial centres to submit to international standards of transparency and information exchange, rather than buying them good will, may only serve to whet the hunger of the more powerful high tax nations to extend the boundaries of information exchange thus diluting the value of tax competition among nations.
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Recognised Limited Liability Partnerships: Audits and Inspections of Limited Liability Partnerships |
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| J. Richard Duke, Duke Law Firm, P.C., Alabama, USA | |
| J. Richard Duke continues a series of discussions on the Dubai Limited Liability Partnership Law of 2004.
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Mistakes |
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| Derek Sambrook, FIB(SA) TEP, Managing Director, Trust Services, S.A., Panama | |
| Derek Sambrook explores some interesting anomalies concerning Latin America and touches on the sense of separateness and proud independence felt in Brazil, he reveals the strengthened relations between Brazil and China and argues that the failure of the US to forge closer ties with Brazil has been a big mistake.
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Reporting Foreign Bank and Financial Accounts – the new rules and proposed new regulations |
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| Stephen A. Malley, Law Offices of Stephen A. Malley, California, USA | |
| Stephen A. Malley dissects Foreign Bank Account Reporting in the USA with particular emphasis on the new requirements which have expanded reporting obligations and outlines the new proposed regulations.
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Voluntary Compliance Programme at the IRS |
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| Brian Rowbotham, Rowbotham Co LLP, San Francisco, USA | |
| Brian Rowbotham provides a step by step guide to the voluntary compliance programme provided by the IRS which permits US taxpayers who have unreported or underreported income to come forth with amended returns.
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Ireland’s International Funds Industry – No line on the horizon |
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| Peter O’Dwyer, Managing Director, Hainault Capital Limited, Dublin, Ireland | |
| Peter O’Dwyer reflects upon Ireland’s position at the forefront of the global funds industry twenty years on from the inception of the International Financial Services Centre (IFSC), in Dublin. He voices some concerns over the recently proposed EU Alternative Investment Fund Managers Directive and underlines how the Irish international funds industry can look forward, with renewed confidence, to the next twenty years.
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Cyprus International Trusts: The Augustinian Syntheses |
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| Mark Bruce-Smith, FCCA, TEP, London Trust, Cyprus | |
| Mark Bruce-Smith takes us back in time when he examines the standard of care expected from trustees, specifically when exercising the investment powers of a Cyprus International Trust. He demonstrates how St Augustine of Hippo’s profound synthesis of Greek philosophical thought and Christian belief can assist trustees in bringing an equitable synthesis to the trusts they administer.
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Modernisation of certain provisions of the Cyprus Companies Law, Cap. 113 |
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| Christos Mavrellis, Partner, Chrysses Demetriades & Co., Limassol, Cyprus | |
| Christos Mavrellis considers recent amendments to Cyprus Companies Law which deal with matters such as the abolition of the prohibition of financial assistance for private limited liability companies under certain conditions, the abolition of the requirement to use the company’s seal for the execution of certain documents, the clarification with respect to the requirement for registering as charges pledges of shares in Cyprus companies, the abolition of the requirement for filing of prospectuses in certain cases, the acceptance of prospectuses and information documents in foreign language and the extension of the possibilities to keep registers.
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Cyprus Investment Firms |
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| George Phillipides, Chief Executive, Oneworld Ltd, Cyprus | |
| George Phillipides provides a detailed overview of the Cyprus Investment Firm (CIF), he reveals how this investment entity can operate within the EU and as such benefit from the harmonisation rules prevailing. Furthermore, George details the procedure that must be followed to establish a CIF and provides a critical analysis of the structure.
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Corporate Domiciles Must be Pro-Active Partners in Growth |
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| John Ramage, International Registries Inc., | |
| John Ramage reveals how the Republic of the Marshall Islands, long a domicile of choice for corporate entities, especially those involved in international shipping, has made it easier for publicly traded corporations and those seeking to go public in their efforts to forge mergers and consolidations.
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Malta – the newest investment base for investment funds |
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| Dr. Robert D’Alessandro, Chairman, Credal network, Malta and Alistair Muscat, Senior Financial Consultant, Credal Advisory, Malta | |
| Robert D’Alessandro and Alistair Muscat focus on Malta as the emerging G20 endorsed EU regulated ‘home’ for investment funds and explain the evolution of Malta into the pole position it now occupies. Furthermore, they provide an overview of a Malta Professional Investor Fund and demonstrate what is so interesting about Malta’s UK based Regulator in concert with Luxembourg based legislation.
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Malta an EU company location |
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| Malcolm Becker, Chief Executive Officer and Michelle Sant, Corporate Services Manager, Butterfield Trust (Malta) Limited, St Julian’s, Malta | |
| Malcolm Becker and Michelle Sant look at the corporate structure in Malta and outline the benefits the jurisdiction has to offer as an EU company location.
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