Legal Insight March 2020: Indonesia Legal Framework on the Transnational Electronic Wallet (E-Wallet) Transaction

The electronic money and wallets trends are currently emerging in Indonesia. We note that 40 e-wallet applications have been registered at Indonesia Central Bank/Bank Indonesia (“BI”) as of 10 February 2020. Please find our commentary on the main keys of the transnational e-wallet transactions. To read the full article, please click here

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Legal Insight February 2020: Indonesia New Regulation on the Mandatory Disclosure of Beneficial Owner

The new implementing regulations on the Know-Your-Beneficial Owner has been enacted, specifically Ministry of Law and Human Rights of Republic of Indonesia (“MoLHR”) Regulation No. 21 of 2019 concerning Procedures for the Supervision of the Implementation of the Know-Your-Beneficial-Owner (“KYBO”) Principles by Corporations (“MoLHR Regulation 21/2019”). The ultimate objective of KYBO Laws and Regulations are […]

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Anguilla Announces World’s First Blockchain Token Offering Registration Process for Utility Token Offerings: Enacts the Anguilla Utility Token Offering Act (“the AUTO Act”)

By Carlyle K Rogers, Barrister/Solicitor – CARLYLEROGERS (ANGUILLA)/CARLYLE ROGERS LEGAL CONSULTANTS FZE (DUBAI, UAE) On the 4th May 2018, the Anguilla House of Assembly enacted the Anguilla Utility Token Offering Act (“the AUTO Act”) which received assent and thus became effective on the 7th May 2018.  The Act provides for the registration of issuers of […]

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Substance over form: the sine qua non of international tax planning in the age of transparency and BEPS

By Carlyle K Rogers October 18, 2017 Share on Facebook   In October 2015, the Organisation for Economic Co-operation and Development (OECD) issued its report on its BEPS Project titled: OECD/G20 Base Erosion and Profit Shifting Project 2015 Reports. This was accepted by the G20 (Group of 20 largest economies in the world) at its November […]

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Friar Tuck Ltd, Quiver Inc and International Tax Authority: A British Virgin Islands’ decision with far-reaching consequences in defense of the rule of law

For several years now, some of us in the financial services industry have lamented the plethora of legislation which has been foisted on jurisdictions, especially the British Overseas Territories like Anguilla and the BVI, by international bodies and foreign countries. We have argued in public and in private to government officials that some of this […]

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Substance over form:

How international financial centers can survive in the age of automatic exchange of information and transparency   This year marked a turning point for international financial centers (IFCs), especially those that are British Overseas Territories (BOTs) and Crown Dependencies (CDs), in terms of the future landscape on which they will compete, cooperate and provide their […]

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Titan International Securities Inc v The Attorney General of Belize: a decision at first instance that should be read across Caribbean International Financial Centres (IFCs)

On Jan. 15, 2016, Justice Courtney Abel of the Supreme Court of Belize handed down a decision which should be read across Caribbean IFCs, especially by regulators and law enforcement agencies from common law jurisdictions. The court found that the manner of the execution of a search warrant on the private offices of a licensed […]

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British Overseas Territories in the Caribbean agree to central registries of beneficial ownership information – the first step on the slippery slope to full disclosure has been taken

  At the recently concluded Dec. 1-2, 2015 Joint Ministerial Council (JMC) in London, held with the UK Minister for the Overseas Territories, James Duddridge MP, the British Overseas Territories (BOTS) agreed to “hold beneficial ownership information in our respective jurisdictions via central registers or similarly effective systems.”  The communique issued by the BOTS and […]

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