Updates To The Beneficial Ownership Reporting Regime

Whilst both will give rise to a finding that a trust is invalid, sham trusts and illusory trusts are two very different beasts, as noted by the New Zealand Supreme Court:

Global M&A activity surged to a five-year high in the first half of 2026 while IPO markets remained highly selective, with Bermuda companies demonstrating continued strength through strategic redomiciliations, major acquisitions, and sustained capital markets activity across shipping, financial services, and energy sectors.

M&A activity in India and ASEAN countries accelerated from Q3 2025 into early 2026, driven by domestic consolidation, financial services, energy transition and technology sectors. Deal volumes remained high with a deep mid-market pipeline, while private equity dominated as the primary buyer class, increasingly seeking majority stakes as sellers accepted lower valuations than peak market periods.

A key feature of both a segregated accounts company (SAC) and an incorporated segregated accounts company (ISAC) is that the assets of each individual segregated account, or cell, will not ...

We are pleased to provide this twice-annual report summarising notable mergers and acquisitions activity in South and Southeast Asia, highlighting transactions over US$100 million in aggregate value.

There are different types of instruments on the BSX that include 145 listed Insurance Linked Securities (ILS) vehicles in Bermuda with an aggregate value of 18.3 billion USD.

In relation to the Economic Substance Act 2018 (the "Act") and the related Guidance Notes issued by the Minister of Finance on 24 December 2019 (the "Guidance Notes")

Bermuda's Beneficial Ownership Amendment Act 2026 introduces significant changes to transparency requirements for legal entities. The new Exemption Order provides relief from central filing obligations for certain qualifying entities, including those held by licensed trustees and investment funds. Understanding eligibility criteria and compliance conditions is essential for affected legal persons operating in Bermuda's regulatory framework.

This edition of the Bermuda Public Companies Update summarises significant transactions involving Bermuda companies listed on the New York Stock Exchange and Nasdaq during the first half of 2023.

The Incorporated Segregated Accounts Companies Act 2019 (ISAC Act) was tabled in Bermuda's House of Assembly on 27 September 2019. The ISAC Act allows for the creation of segregated accounts, or cells, with separate legal status.

China has introduced a comprehensive Individual Income Tax regime for offshore trusts, imposing a 20% flat tax on settlors and beneficiaries with Chinese connections. With a 90-day transition window now in effect, affected individuals must urgently assess their disclosure obligations and consider whether existing trust structures remain viable under the new rules.

Ireland's Budget 2027 introduces significant tax reforms aimed at boosting competitiveness and encouraging investment, including reductions in capital gains tax, simplified interest relief provisions, and a new Personal Investment Account with favorable tax treatment. The budget package totals €8.5 billion with measures focused on rewarding work, promoting entrepreneurship, and addressing housing supply challenges.

Islamic finance is experiencing rapid global expansion, with assets approaching US$6tn and record sukuk issuance attracting non-traditional investors. The convergence of Shariah-compliant and sustainable investing is creating new opportunities, while AAOIFI Standard No. 62 and tokenisation developments are reshaping how Islamic finance structures are designed and implemented across international markets.

Important changes have been made to the BVI Business Companies Act, Revised Edition 2020 (the "Companies Act").

The CRS is the global standard developed by the OECD for the automatic exchange of financial account information between participating jurisdictions for tax purposes.

Liquidity concerns are all too familiar to most private equity fund managers these days, and investors in their funds have not been immune.

Further to our recent update, the DITC has issued an updated CRS Entity Self-Certification Form and Individual Self-Certification Form to reflect the recent amendments to the CRS as implemented in the Cayman Islands.

The decision as to where to establish an offshore trust can only be made based on the specific requirements of the client.

The Cayman Islands Department for International Tax Cooperation has made the following announcements regarding the AEOI regimes.

The Grand Court of the Cayman Islands recently delivered a judgment in In the matter of Pinnacle Global Partners Fund I LTD.