The COVID-19 pandemic has raised immediate issues for many wealthy families, notably around tax residency and immigration, but on the flip side it has given wealthy families the opportunity to take stock and consider how they want to be structured and, fundamentally, where they want their family office to be located. This article considers the features which make Jersey attractive for family offices.
At the beginning of each year, the minimum wage, severance payments and administrative fines prescribed by the Labour Act are revised. On 1 January 2021 the changes for 2021 came into effect. Among other changes, the monthly minimum wage rate has increased from TL2,943 (gross) to TL3,577.50 (gross).
In an October 2020 judgment the Civil and Criminal Section of the Superior Court of Justice of Madrid largely dismissed the brief of appeal filed by the defendant against the convictional judgment, by which the Provincial Court of Madrid had sentenced him to a two-year prison sentence, a fine and payment of the damage compensation and legal costs of private prosecution for the commercialisation of products that infringed Adidas's Community trademarks and designs.
Introduction
Canada is a thriving market for Cayman private wealth services, with the Cayman Islands full package of wealth structuring and lifestyle factors attracting growing numbers of high-value residents from the north.
With direct flights from Toronto, the Cayman Islands are historically known to be a first-class destination for Canadian high-net-worth individuals (HNWIs), who have some familiarity with the Cayman Islands as a British overseas territory and fellow member of the British Commonwealth.
The COVID-19 pandemic has also led many to fundamentally rethink how and where they want to live, with a better work-life balance and a healthier lifestyle topping people s list of priorities. The Cayman Islands has proved itself to be a safe haven amid the crisis, virtually eliminating cases by strict border control and enabling life to return to normal after lockdown – a stark contrast to many other places. The global shift in work patterns spurred by the pandemic has also s
The new General Import and Export Duties Law (LIGIE) recently entered into force, updating the General Import and Export Tariff Code by removing more than 4,000 obsolete tariff items, consolidating the existing tariff items and introducing new tariff items for newly created goods. The new LIGIE also implements the Sixth Amendment to the Harmonised System established by the World Customs Organisation and introduces a commercial identification number.