Industry insight
Industry insight articles are paid-for content written by or on behalf of sponsors. To find out more, please contact Sylvana Malachias at Wonderly at +44 (0) 208 2674463 or email sylvana.malachias@wonderly.agency
Safeguarding the future: trusts as the next evolution in digital asset management
30 September 2024
As the digital asset ecosystem matures, more high-net-worth individuals (HNWIs) and institutions are turning to professional fiduciary services to manage and safeguard their digital wealth. One of the emerging strategies in this space is holding digital assets within trusts. The Bahamas, with its robust legislation and regulatory framework for digital assets, is seeing the establishment of many such trusts.
Common UK issues arising with cross-border estates
17 September 2024
In a world where global mobility is more common, people are aware of the benefits that can be achieved from tax and estate planning before moving in order to ensure that their assets are passed to their loved ones. However, increasingly little consideration is given to how a global estate is administered or to the interaction of estate tax between the two (or more) jurisdictions.
An update on trust arbitration in the Bahamas
17 September 2024
The Bahamas has amended the Arbitration Act, 2009 (as amended, the Arbitration Act) pursuant to the Arbitration (Amendment) Act, 2023 (the 2023 Amendment) to transpose therein provisions for trust arbitration from the Trustee Act, 1998 (as amended, the Trustee Act). The amendments have consolidated and strengthened the Bahamas’ robust framework for the arbitration of trust disputes, making trust arbitration more attractive to settlors and trustees.
Global arbitration in a post-COVID world
19 July 2024
Inside the preliminary arbitration and alternative dispute resolution (ADR) statistics of the International Chamber of Commerce (ICC) for 2023, we find a clear trajectory indicating that the pre-COVID popularity of commercial arbitration has not only rebounded but also resumed. The ICC remains the world’s leading arbitral institution, exemplified by the sheer volume of cases and the number of countries using ICC arbitration. In 2023, the ICC registered 890 new arbitration cases (third highest in history) and 141 countries respectively. The first and second highest occurred in 2016 (966) and 2020 (946).
Embracing the future: ESG frameworks in the Bahamas
16 July 2024
The Bahamas is approaching sustainable finance with a robust environmental, social and governance (ESG) framework. Its location and culture present a unique opportunity for integrating ESG principles that not only protect its environment but also foster inclusive growth and resilient communities.
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