Offshore jurisdictions have historically been popular places to
incorporate investment holding vehicles. The corporate law of
offshore jurisdictions is typically flexible and free from the
requirement to prepare audited financial accounts. Offshore
jurisdictions are also well served by professional service
providers such as lawyers, accountants and corporate secretarial
providers.
Offshore holding companies forming part of a private wealth
structure have typically been unregulated. Historically it has only
been mutual funds which have needed to register with the local
authorities and comply with ongoing reporting requirements. This
has potentially changed with the introduction of private funds laws
in many offshore jurisdictions, including the Cayman Islands,
British Virgin Islands (‘BVI'), the
Bahamas and Bermuda. These new regulations potentially impact upon
offshore entities which are managed by single family offices. This
includes Singapore based family office
