The issue of confidentiality in offshore financial centres is high on the agenda in the financial press. Whether it is banking secrecy or the disclosure requirements governing the establishment of offshore companies and trusts; legislation seeking to obtain information is at odds with the long established common law duty of confidentiality.
There are entirely legitimate reasons for confidentiality when establishing BVI and Cayman Trusts structures. In this article, first published in Private Investor magazine in 2011, Lawrie Kearns of Harneys’ Trusts Department reviews disclosure requirements on the establishment of BVI and Cayman Companies and Trust structures together with the rights of Trust beneficiaries to obtain information.
Please see full article below for more information.
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