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November 2010

Pre-nuptial Agreements – A Binding Contract?


Guest Article by Laurence Vaughan Williams

I have no wish to depress my married readers but 45% of marriages are likely to end in divorce. It would appear sensible for the parties to enter into an Agreement either before the marriage, an Ante or Pre-nuptial Agreement, or after the marriage, a Post-nuptial Agreement.

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October 2010

Cayman National Banking Director raises £3500 for local charity


Over £3,500 has been raised for The Children's Centre in Douglas by our Isle of Man Banking Director and 'resident adventurer', Barry Williams.

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Isle of Man Parliament approves of new pension arrangements


The Isle of Man' s parliament, Tynwald has approved an order creating a new type of pension arrangement that will add to the Island's existing local and international pension legislation.

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August 2010

Economic Development - Top Priority


Allan Bell, Minister for Economic Development, has announced a series of changes which will ensure that the Isle of Man focuses on future economic growth in the coming years. As part of the overall Change Programme that the Chief Minister initiated earlier in the year, Minister Bell has responded with a number of significant organizational changes to ensure that the Department maintains its focus on employment, bringing new economic activity to the Island and enhancing the Island’s reputation overseas as well as supporting existing businesses on the Island to flourish.

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Isle of Man Signs Tax Co-Operation Agreement With Portugal


The Isle of Man continues its programme of developing closer economic and taxation co-operation with other countries by signing a Tax Information Exchange Agreement (TIEA) with the Portuguese Republic. This agreement is the 16th TIEA the Isle of Man has signed, and the 19th agreement that meets the OECD international standard on tax co-operation and transparency.

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E-Business Flourishing On The Isle of Man


In the latest of a series of reviews into the Isle of Man’s e-Business sector, a report by business and technology consultancy, Charteris, has acknowledged the Isle of Man’s lead over other competing jurisdictions, thanks to the Island’s internationally competitive infrastructure.

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Isle of Man moves ahead with preparation for EU savings directive changes


The Isle of Man’s parliament, Tynwald, in June of this year endorsed the commitment made a year ago, by the then Treasury Minister, Allan Bell MHK, to a change of policy in relation to the EU Savings Directive (EUSD) that will see the Isle of Man, in its application of the EUSD, move fully to automatic exchange of information from 1 July 2011.

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July 2010

International Banking Group opens its doors


After many months of preparation, the doors were opened to the public on 19th July, 2010 of the newest bank in the Turks & Caicos Islands, International Banking Group.

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Isle of Man introduces treasury share regulations


The Isle of Man has introduced regulations to permit publically traded companies (incorparated under the Companies Act 1931) to purchase and hold a maximum of 10 per cent of their own shares in treasury, making publically traded Isle of Man companies more competitive.

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Dubai Land Department changes Policy for offshore Companies


As of 1st February 2010, Mohammad Sultan Thani, the Director General of the Dubai Land Department issued a Directive instructing the Transactions Department at the Dubai Land Department to prevent the registration of title to freehold properties in the names of offshore companies such as companies registered in the British Virgin Islands, Cayman Islands, Republic of Seychelles, etc.

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June 2010

Chief Minister announces new Ministerial line-up


In March 2010, the Isle of Man Chief Minister Tony Brown MHK announced the new line-up of the Council of Ministers. These appointments came into effect from April 1 to coincide with the major restructuring of Government Departments.

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Outlook for 2010


Over the past two years we have witnessed perhaps the most challenging economic circumstances seen in our lifetimes. 2009 saw some stability in global markets, with consumer confidence starting to return, and stock markets beginning their road to recovery, however fragile it might turn out to be.

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