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CaribbeanYou are here: Destinations > International > Caribbean
The CaribbeanThe popularity of the British Virgin Islands (“BVI”) and Cayman Islands (“Cayman”) for Australian lawyers seeking an overseas opportunity increased in recent times.
Mahlab has long standing relationships with the premier law firms in the BVI and Cayman, and has been instrumental in assisting Australian lawyers achieve their island dreams in both transactional areas of practice (corporate, banking & finance and funds) and also in commercial litigation and insolvency.
The volume and complexity of the corporate transactions carried out in the BVI and Cayman, together with the sophisticated professional services in the financial and legal sectors, makes the Caribbean an excellent option for lawyers looking for a first class international career.
About the British Virgin IslandsSituated in the Caribbean Sea, the BVI is an overseas territory of the United Kingdom. English is the official language in the BVI. The BVI comprises a cluster of over 50 islands, 16 of which are inhabited by a population of approximately 22,000. Tortola, being the largest island, is host to some of the world’s best legal corporate practices and largest accounting firms.
The BVI is renowned globally for the quality and volume of its activity in the offshore financial sector. Attractive tax breaks and a modern regulatory system have resulted in over 40% of the world’s offshore companies being registered in the BVI, as well as consistent growth in the mutual funds sector. Recent changes to trust legislation have further boosted corporate activity in the BVI, creating an increase in opportunities for lawyers from common law jurisdictions and US qualified lawyers.
Current areas of demand include banking & finance (capital markets, securitisation, structured finance), corporate law and funds management.
Mahab has strong relationships with most international firms in the Caribbean, both in the Cayman Islands and the British Virgin Islands. A Mahlab consultant can answer further questions or give you an outline of the necessary steps to secure your ideal position in the Caribbean.
About the Cayman IslandsLocated in the western Caribbean Sea, Cayman is an overseas territory of the United Kingdom and comprises three islands. Grand Cayman is the largest and most densely inhabited. The population estimate across the islands is 40,000 and the official language is English. Cayman is a common law jurisdiction and its system bears a close resemblance to the UK legal system.
Cayman is the hub of the Caribbean financial services sector and the undisputed leading offshore investment funds centre. The majority of the world’s offshore hedge funds are based on Cayman. There is a large presence of financial institutions and trust companies and business activity predominantly spans funds management, banking, structured finance, trusts and captive insurance.
Tax exemptions and a modern regulatory system have resulted in a significant increase in the number and complexity of corporate transactions on Cayman. This has opened doors for lawyers from common law jurisdictions in areas such as funds management, banking & finance (capital markets, securitisation, structured finance), corporate law, commercial litigation and insolvency. In more recent years there has been a heightened focus on anti- money laundering.
Click here to have your Frequently Asked Questions about working in the Caribbean answered. |