News/Legal Updates

January 2021ECONOMIC SUBSTANCE: NO PENALTIES FOR LATE REPORTING IF FILED BY JANUARY 31, 2021The Ministry of Finance of the Government of The Bahamas has announced that it will not penalize entities for not reporting by the December 31, 2020 deadline under the Commercial Entities Substance Requirements Act, 2018 (“CESRA”), if reports are received by...

December 2020ECONOMIC SUBSTANCE REPORTING DEADLINE APPROACHINGThe Bahamas passed the Commercial Entities (Economic Substance) Requirements Act, 2018 (“CESRA”) on December 20th, 2018 to comply with OECD BEPS requirements. In summary, entities organized under certain enactments which are tax resident...

October 2020GT PARTNER CAMPBELL ELECTED TO WSG BOARD OF DIRECTORSGrahamThompson is pleased to announce that Partner Anastasia Campbell has been elected to the World Services Group (WSG) 2020-2021 Board of Directors. Anastasia will serve a four-year term, working collaboratively with WSG leadership...

September 2020COVID 19 Emergency Documents - Everything in One PlaceTo help you navigate through all of the documentation related to COVID 19 Emergency Powers, we compiled in one place, access to published documents. Documents are listed in chronological order and includes links to PDF copies...

January 202115 FAQs ON THE DIGITAL ASSETS AND REGISTERED EXCHANGES (‘DARE’) ACT, 2020In the first issue of GT's News & Insights Volume 3, GrahamThompson Partner Aliya Allen and Associate Sean McWeeney Jr. 15 FAQs on the Digital Assets and Registered Exchanges ('DARE') Act, 2020...

January 2021WILSON, GRUCHOT, MCAVINCHEY AUTHOR CHAMBERS LITIGATION GUIDE, TCIStephen Wilson QC, the GrahamThompson Partner who heads the firm’s litigation practice in the Turks and Caicos Islands, authored the 2021 Chambers Global Practice Guide on Litigation in The Turks and Caicos Islands along with Partner, Tony Gruchot and Professional Support Executive, Claire McAvinchey...

September 2020International Arbitration: Wilson QC Answers Important QuestionsStephen Wilson, QC, head of GrahamThompson’s Litigation and Dispute Resolution practice in Providenciales, the Turks and Caicos Islands is the featured author for the jurisdiction in International Arbitration 2020, the seventeenth edition...

August 2020SUMMARY AND HIGHLIGHTS: BANKS AND TRUST COMPANIES REGULATION BILL, 2020The primary aims of the Banks and Trust Companies Regulation Bill, 2020 (“the Bill”), are to: (i) repeal and supersede the Banks and Trust Companies Regulation Act, 2000 (Ch. 316) (“the Principal Act”)...