we are pleased to announce that we have won two awards at the citywealth awards ceremony:

trust company of the year – caribbean (runner-up)
trust company of the year – cyprus (runner-up)

these awards highlight the strength of our teams and the work we deliver for clients across our global network.

the bvi financial services commission has published a new industry update providing clarity on statutory filing requirements under the bvi business companies act and the limited partnership act, particularly in relation to beneficial ownership (bo) and related registers.

set out below is a short summary of the key points, for full details, please refer to the fsc’s industry circular.

key points

• temporary pause on fees and penalties
  existing companies and limited partnerships (formed before 2 january 2025) can file rom, rogp, rolp and bo information without filing fees or late penalties until 31 march 2026.
• important to note
  this doesn’t change the underlying filing obligations, it’s a temporary pause on enforcement. fees and penalties return from 1 april 2026.
• “in penalty” status
  entities that haven’t filed yet may show as “in penalty”, but no penalties will be charged during the concession period. status will update once filings are completed. certificates of good standing and incumbencies may not be available during this period.
• entities already in penalty
  existing entities already marked as in penalty can now submit outstanding filings (with or without paying annual fees) up to 31 march 2026.
• what happens next
  from 1 april 2026, the fsc will move to full enforcement, including penalties where applicable.

if you have any questions, please do not hesitate to reach out to your usual key contact.

the european union has announced that the british virgin islands has been added to its list of high-risk third-country jurisdictions for anti-money laundering purposes. this follows the bvi’s placement on the fatf grey list earlier this year and reflects an automatic alignment of eu rules with fatf decisions, rather than a new or independent eu assessment of the bvi. eu monitoring is part of a standard process for jurisdictions that are committed to strengthening their compliance frameworks, and listing is not permanent.

the bvi has continued to make strong progress in strengthening its aml/cft framework. in its most recent technical assessment, the cfatf rated the jurisdiction compliant or largely compliant with all 40 fatf recommendations, and the eu acknowledged the bvi’s high-level political commitment and ongoing reforms. the territory is actively working with fatf and cfatf on its action plan and aims for swift removal from the grey list within the next two years.

the updated list will take effect unless the eu parliament or council objects within the next month and will formally enter into force 20 days after publication in the official journal.

at this time, clients with bvi companies or structures do not need to do anything. harneys fiduciary is closely monitoring developments and will continue to provide updates as the situation evolves. we also continue to support the government and competent authorities in the bvi through our active participation with various industry bodies.

if you have any questions, please do not hesitate to reach out to your usual harneys fiduciary contact.

english version: 英文版

simplified chinese translation: 简体中文版

ascentium 集團旗下公司衡力斯企業服務（harneys fiduciary）欣然宣佈正式在新加坡提供信託服務。隨著獲得新加坡金融管理局（monetary authority of singapore）頒發的信託業務牌照後，本公司現已成為少數獲授權於新加坡開展信託業務的機構之一，進一步拓展本公司於亞洲的業務版圖，以更全面的方式支援高淨值及超高淨值人士、其家族與企業。

新加坡信託服務團隊將提供全面的信託解決方案，協助客戶妥善規劃資產保障及跨世代財富傳承規劃。此項服務專為擁有全球資產及跨境收益的家族度身訂造，旨在協助客戶保障並延續家族財富與傳承。此舉充份體現了本公司對於服務全球主要市場客戶的長遠承諾，亦反映亞洲地區高淨值人士及家族對高端跨境財富架構方案需求持續上升的市場趨勢。

新加坡信託服務團隊由信託服務部總監 keith ng（黃德維） 領導。他擁有超過 20 年的信託架構管理經驗，具備處理跨境信託方案、信託架構重組及信託爭議事宜的專業能力。於新加坡任職期間，keith長期為亞洲私人客戶提供專業服務，並對亞太區客戶的財富規劃及文化價值、與家族關係結構有着充份理解。

衡力斯企業服務行政總裁 ross munro 表示：

「新加坡是亞洲私人財富的重要樞紐，我們非常高興能在當地拓展信託服務。此次擴展充分體現了本公司長遠致力於服務全球主要金融中心客戶的承諾。憑藉新加坡信託服務團隊的專業實力，我們具備優越條件為客戶提供度身訂造的信託方案, 並秉持一貫卓越的服務標準，協助客戶妥善規劃。」

keith 補充：

「在新加坡開展信託業務，讓我們能更切合客戶文化背景而理解客戶需求，提供全面優質的服務。我們旨在於協助家族有系統地規劃、保障及傳承跨世代財富。我們期待與亞太區的客戶及專業顧問建立長遠穩固的合作關係。」

新加坡的新業務進一步完善了衡力斯企業服務於英屬維京群島、開曼群島、塞浦路斯及香港特別行政區的全球信託服務佈局。客戶將受惠於衡力斯企業服務深厚的專業知識、全球網絡及對卓越服務的堅定承諾。

關於衡力斯企業服務

衡力斯企業服務成立於 1974 年，是一家全球領先的離岸商業服務提供商，為企業、基金及私人客戶提供公司管理、信託及受託服務。公司業務遍及英屬維京群島、開曼群島、塞浦路斯、香港特別行政區及新加坡等主要司法管轄區。

關於ascentium

ascentium 是一家領先的全球商業服務平台，致力於協助企業實現卓越成長。集團總部設於新加坡，透過專業知識及涵蓋企業服務、財務與會計、人力資源，以及信託與受託服務等領域的一站式綜合解決方案，助力企業於全球範圍內擴展。

ascentium 擁有超過 2,300 名專業人員，業務遍及 23 個市場、45 個城市，服務超過 50,000 家客戶實體，涵蓋多個行業。憑藉創新的技術驅動方案與協作式服務理念，ascentium 持續推動客戶的變革性成長，協助他們在複雜多變的全球環境中穩健前行。

english version: 英文版

traditional chinese translation: 繁体中文版

ascentium集团旗下公司衡力斯企业服务 (harneys fiduciary), 欣然宣布其正式在新加坡推出信托服务。继获得新加坡金融管理局 (monetary authority of singapore) 颁发的信托业务牌照后, 我们现已成为少数获授权在新加坡开展信托业务的机构之一，这进一步扩大了我们在亚洲的业务版图, 以更好地支持高净值及超高净值人士的家族与企业。

新加坡信托服务团队将提供全面的信托解决方案，协助客户实现资产保障及跨世代传承规划。该服务专为拥有全球资产与跨国利益的家族设计，旨在帮助他们保护并延续家族财富与传承。此举体现了本公司持续致力于服务全球主要市场客户的承诺，也反映了亚洲地区高净值客户及家族对高端跨境财富架构方案日益增长的需求。

新加坡信托服务团队由信托服务部总监keith ng (黄德维) 领导，他于今年早些时候加入公司。keith拥有超过20年的复杂信托架构管理经验，擅长跨境信托方案、重组及争议性事务。在新加坡任职期间，他长期服务亚洲私人客户，对本地区财富及传承规划中的文化价值观与家族动态有着深刻理解。

衡力斯企业服务首席执行官ross munro表示：

“新加坡是亚洲私人财富的重要枢纽，我们非常高兴能在此拓展信托服务。此次扩展体现了我们在全球主要金融中心支持客户的长远愿景。借助新加坡信托服务团队的专业实力，我们有能力为客户提供符合全球标准的定制化信托解决方案。”

keith补充道：

“在新加坡推出信托服务，使我们以更高的文化契合度贴近客户, 从而提供优质服务。我们的方案旨在帮助家族从容清晰地规划、保护并传承跨世代财富。我们期待与本地区的客户及顾问建立稳固而长久的合作关系。”

新加坡的新业务进一步完善了衡力斯企业服务在英属维尔京群岛、开曼群岛、塞浦路斯及香港特别行政区的全球信托服务布局，客户将受益于衡力斯企业服务深厚的专业知识、全球网络及对卓越服务的坚定承诺。

关于衡力斯企业服务

衡力斯企业服务成立于1974年，是一家全球领先的离岸商业服务提供商，为企业、基金及私人客户提供公司管理、信托及受托服务。公司业务遍及英属维尔京群岛、开曼群岛、塞浦路斯、香港特别行政区及新加坡等主要司法辖区。

关于 ascentium

ascentium是一家领先的全球商业服务平台，致力于帮助企业实现卓越成长。集团总部位于新加坡，通过专业知识及涵盖企业服务、财务与会计、人力资源、以及信托与受托服务等领域的一站式综合解决方案，助力企业在全球范围内扩展。

ascentium拥有超过2,300名专业人员，业务遍及23个市场、45个城市，服务超过50,000家客户实体，涵盖多个行业。凭借创新的技术驱动方案与协作式服务理念，ascentium持续推动客户的变革性增长，助力他们在复杂多变的全球环境中稳健前行。

simplified chinese translation: 简体中文版

traditional chinese translation: 繁体中文版

harneys fiduciary, an ascentium company is pleased to announce the launch of its trust services in singapore. following the grant of a trust business license by the monetary authority of singapore, we are now listed as one of select few firms authorised to carry out trust business in singapore, further expanding our footprint across asia to better support high-net-worth and ultra-high-net-worth individuals, their families, and their businesses.

the singapore trust services team will offer a comprehensive suite of trust solutions, guiding clients through their asset protection, and multi-generational succession planning needs. designed with families who have global assets and interests in mind, services are tailored to safeguard their legacy. the move is part of the firm’s continued commitment to supporting clients in key international markets, and reflects growing demand from high-net-worth individuals and families in the region for sophisticated, cross-border wealth structuring solutions.

the singapore trust services team will be led by keith ng, director, head of trust services who joined the firm earlier this year. keith brings over 20 years of experience in administering complex trust structures, with particular expertise in cross-border trust solutions, restructuring, and contentious matters. based in singapore, he has worked extensively with asian private clients and has a deep understanding of the cultural values and family dynamics that shape wealth and succession planning in the region.

ross munro, ceo of harneys fiduciary said: "singapore is a pivotal hub for private wealth in asia, and we are really pleased to expand our trust capabilities there. our presence there underscores our long term vision to support clients in key financial centers globally. supported by our singapore trust services team, we are well-positioned to deliver bespoke trust solutions that align with our global standards of excellence.”

keith added: ”launching trust services in singapore allows us to serve clients with greater proximity and cultural alignment. our offering is designed to empower families to structure, safeguard, and transition their wealth across generations, with confidence and clarity. we look forward to building strong, enduring relationships with clients and advisors in the region.”

the new offering in singapore complements harneys fiduciary’s established trust services presence in the british virgin islands, cayman islands, cyprus and hong kong sar. clients will benefit from harneys fiduciary’s global network, deep technical knowledge, and commitment to excellence.

about harneys fiduciary

established in 1974, harneys fiduciary is a global offshore business services provider to corporate, fund, and private clients, specialising in the provision of corporate administration, trust, and fiduciary services in the british virgin islands, the cayman islands, cyprus, hong kong, and singapore, among other key jurisdictions.

about ascentium

ascentium is a leading global business services platform dedicated to helping businesses scale greater heights. headquartered in singapore, we empower extraordinary growth through specialised expertise and comprehensive one-stop solutions in corporate services, finance and accounting, hr services, and fiduciary and trust services. our team of 2,300+ professionals spans 45 cities across 23 markets in asia-pacific, the middle east, the americas, and europe, serving 50,000+ client entities across diverse industries. through innovative, technology-enabled solutions and a collaborative approach, ascentium drives transformative growth, helping clients navigate complex global environments.

harneys fiduciary, an ascentium company, is pleased to announce the addition of nevis as its seventh jurisdiction, reinforcing its commitment to delivering best-in-class fiduciary services to a global clientele.

nevis is an increasingly sought-after jurisdiction. formation of business entities, is streamlined and straightforward, supported by nevis’s regulated yet progressive legal landscape. these features position nevis as an ideal jurisdiction for clients seeking legal clarity, well-established confidentiality standards and operational efficiency.

from its new nevis offering, harneys fiduciary provides a comprehensive suite of corporate and fiduciary services, including the formation and management of companies and llcs, registered agent and registered office facilities. clients also benefit from expert support in compliance, corporate governance, and regulatory matters.

“our expansion into nevis reflects both client demand and our strategic growth strategy. nevis complements our existing network perfectly, giving clients greater choice, flexibility, and confidence when structuring their affairs in an increasingly complex global environment,” says ross munro, ceo of harneys fiduciary. “clients will receive the same seamless, high-quality service whether they are working with us in nevis, the british virgin islands, the cayman islands, or beyond.”

established in 1974, harneys fiduciary, is a leading offshore business services provider. the firm supports corporate, fund, and private clients with comprehensive solutions in corporate administration, trust, and fiduciary services across key jurisdictions, including the british virgin islands, the cayman islands, cyprus, hong kong sar, nevis, singapore, and united kingdom. as part of ascentium, a global business services platform dedicated to helping businesses scale greater heights, harneys fiduciary combines deep local expertise with international reach to deliver trusted, seamless, and client-focussed service worldwide.

industry circular 37 of 2025. publication of financial services (prudential and statistical returns) (amendment) order, 2025
13 october 2025

the british virgin islands financial services commission (fsc) has issued an important update to the financial services (prudential and statistical returns) order, 2009, replacing the existing schedule 3 prudential return for fiduciary services with a new, enhanced reporting framework.

the amendment strengthens the fsc’s ability to assess and monitor risks across the trust and corporate services sector and introduces a revised trust and corporate services provider annual return.

what has changed

• the previous prudential return form has been revoked and replaced with a new version, effective for reporting periods ending 31 december 2025.
• the new annual return template must be used for all submissions due by 31 january 2026.
• from january 2026, the fsc will no longer accept the old form.
• the new electronic form and guidance are available on the fsc’s website under the ‘annual returns’ tab.

what tcsps need to do now

to ensure compliance and avoid filing issues ahead of the deadline, all licensed trust and corporate services providers (tcsps) should:

1. download and review the new annual return template – available electronically on the fsc’s website.
2. assess existing data collection systems to ensure the required information is available for the new format.
3. familiarise internal teams with the revised reporting fields and structure.
4. prepare early – begin collecting the necessary prudential and statistical data to meet the 31 january 2026 filing deadline.
5. verify submission process – confirm access to the fsc’s electronic filing system and ensure compatibility with the new form.

our recommendation

licensees are encouraged to begin preparations now, as the new template introduces expanded data points and enhanced disclosure requirements designed to improve sector-wide risk analysis. early readiness will help ensure timely submission and maintain regulatory good standing.

how harneys fiduciary can assist

our team supports licensed fiduciary service providers with all aspects of prudential and regulatory reporting. we can:

• review your data collection process to ensure alignment with the new return format.
• assist with preparing or completing the revised annual prudential return.
• provide guidance on compliance, governance, and recordkeeping best practices.
• liaise with the fsc where clarification or submission support is required.

if you require assistance preparing for the 31 january 2026 deadline or would like to discuss how this amendment may affect your fiduciary operations, please contact your usual harneys fiduciary representative or reach out to our team.

all bvi companies (unless exempt) are required to submit a financial annual return (far) to their registered agent. this requirement, introduced under the bvi business companies (amendment) act, 2022, has become a key part of annual compliance obligations for bvi companies.

for companies with a standard financial year ending 31 december 2024, the far must be filed no later than 30 september 2025.

what is the financial annual return?

the far is a simplified summary of a company's financial activity for the relevant financial year. it must include:

• a basic balance sheet
• an income (profit and loss) statement

the far is not audited, and it does not need to comply with specific international accounting standards.

however, the information provided must accurately reflect the financial position and performance of the company.

please note: the far is not publicly filed. it is submitted directly to the company’s registered agent and retained in their records. the ra is responsible for sharing the information with valid requests from the bvi competent authorities.

who must file?

all bvi companies must file an far unless they qualify under one of the following exemption categories:

• companies listed on a recognised stock exchange
• companies regulated under bvi financial services legislation that submit financial statements to the financial services commission in accordance with applicable regulations
• companies that file an annual tax return with the bvi inland revenue department, accompanied by financial statements
• companies in liquidation at the time the far becomes due (i.e. where liquidation documents are submitted to the registrar before the end of the financial year)

if you believe your company may qualify for an exemption, we recommend reviewing the detailed criteria or consulting our team for tailored guidance.

when is the deadline?

the far must be submitted within nine months of the end of a company’s financial year.

• for companies with a financial year ending 31 december 2024, the filing deadline is 30 september 2025.
• companies with alternative year-ends will have a corresponding deadline nine months after the close of their financial year.

next steps for compliance

to ensure compliance and avoid potential penalties, companies should:

1. confirm the company’s financial year-end.
2. prepare the far, including the required balance sheet and income statement.
3. submit the far to your registered agent before the filing deadline.
4. determine if the company qualifies for an exemption and maintain appropriate supporting documentation.

penalties for non-compliance

failure to file the far by the required deadline may result in:

• administrative penalties
• strike-off from the bvi register of companies
• loss of good standing
• regulatory enforcement actions

if a company fails to file its far on time, the registered agent is obligated to notify the registrar of corporate affairs within 30 days of the missed deadline.

current late filing penalties can be as follows:

• a company that fails to file the far with its registered agent within the specified period may incur administrative penalties of up to usd 50,000
• the registrar may also strike the defaulting company off the register
• non-compliance is also reflected on the company’s certificate of good standing

how harneys fiduciary can assist

at harneys fiduciary, our dedicated accounting services team provides end-to-end support to ensure your bvi company remains compliant with its far obligations. our services include:

• preparation of the financial annual return
• assistance with the preparation of underlying accounting records or financial statements
• timely submission of the far to the registered agent
• guidance on exemption eligibility and qualification
• ongoing consultation and compliance monitoring

whether your company requires full accounting support or simply needs assistance with far filing and compliance review, we are here to help.

stay ahead of the 30 september 2025 deadline. please ensure timely submission to avoid any penalties and regulatory risks.

the government of the british virgin islands has published its policy on how persons with a legitimate interest can access beneficial ownership information held on bvi companies and limited partnerships. this follows the enactment of the bvi business companies and limited partnerships (beneficial ownership) (amendment) regulations, 2025, which came into force on 1 july 2025, and forms part of the bvi government’s continued commitment to implement international best practices for corporate transparency and to combat financial crime.

while the legislation is now in force, it will not take full effect until 1 april 2026, after a nine-month transition period. during this time, no requests for information will be processed, but the framework for implementation is in place. the registry will begin accepting exemption applications on 2 january 2026.

we are currently awaiting further guidance from the bvi registry on how the new regime will operate in practice. the official government update is available here.

key aspects of the policy

who can access information and what can they see?
those applying must demonstrate a legitimate interest connected to anti-money laundering, counter-terrorist financing, or counter-proliferation financing. if approved, they will be provided with the beneficial owner's name, month and year of birth, nationality, and the nature of their interest—where that individual owns or controls 25% or more of a bvi company or partnership.

exemptions
beneficial owners may apply to withhold their information in limited cases, such as where disclosure could:

• be against the public interest or national security
• expose the person to serious risk (e.g. fraud, extortion, violence), or
• involve a minor or someone lacking legal capacity

exemption applications must include supporting evidence and can be submitted from 2 january 2026, before the registry starts processing requests on 1 april 2026.

notification of request
where a valid request is received, the registrar will notify the relevant legal entity that a request has been made.

objections and appeals
legal entities will have an opportunity to object to the disclosure. if an objection is overruled, the entity may appeal. no information will be shared while an appeal is ongoing.

penalties
misuse of information will attract penalties, including administrative fines for unauthorised use.

how can we help?

our team is actively monitoring the situation and remain ready to support you through every step of the process. if you have any questions, are unsure whether an exemption may apply to you, or would like more information on how this may affect your bvi structure, please don’t hesitate to reach out to your usual harneys fiduciary contact or speak directly with the key contacts listed.

on 13 june 2025, the financial action task force placed the british virgin islands under increased monitoring as part of its ongoing efforts to help its members in strengthening their systems to combat money laundering, terrorist financing, and proliferation financing. fatf monitoring is part of a standard process for jurisdictions that are committed to strengthening their compliance frameworks, and listing is not permanent.

the listing reflects the bvi’s active engagement with the fatf and its commitment to enhance its regulatory and enforcement framework. the fatf commended the bvi for having made significant progress since the adoption of its mutual evaluation report in november 2023.

the bvi government has reaffirmed its commitment to implementing the necessary measures within the agreed timeframes. the bvi has consistently demonstrated its commitment to meeting its international obligations as a leading international financial centre, and remains committed to combatting financial crime in all its forms. regular review and enhancement of its regulatory systems are integral to this commitment.

at this time, clients with bvi companies or structures do not need to do anything. harneys fiduciary is closely monitoring developments and will continue to provide updates as the situation evolves. we also continue to support the government and competent authorities in the bvi through our active participation with various industry bodies.

if you have any questions, please do not hesitate to reach out to your usual harneys fiduciary contact.

the bvi registrar of corporate affairs has announced a six-month extension to the current filing period. bvi business companies and limited partnerships now have until 1 january 2026 (previously 1 july 2025) to comply with the requirements to file its register of members, and beneficial ownership information.

here’s what you need to know:

• bvi foreign regulated trustees: we’re expecting confirmation of proposed changes that would make foreign regulated trustees treated in the same way as with bvi-regulated trustees. if implemented, this would mean that foreign regulated trustees would file their regulatory details at the registry instead of settlor, protector, and beneficial owner information.
• bvi beneficial ownership: we’re still waiting on further details from the public consultation about access to beneficial ownership information. we’ll share updates as soon as they’re available.

the official update from the fsc can be found here.

update (24/06/2025): the fsc has announced that it will begin enforcing the financial annual return (far) regime from 1 july 2025. any entity that has not yet filed its first far, particularly those with a financial year end of 31 december 2023, should do so as a matter of urgency to avoid regulatory action.

have questions? feel free to reach out to us.

harneys fiduciary, a global provider of corporate, funds and trust services, has joined forces with ascentium, a global business services platform headquartered in singapore. this step reflects harneys fiduciary’s long-term growth strategy, strengthening its ability to deliver innovative solutions and expanding its reach to better serve clients across a broader range of jurisdictions.

the harneys fiduciary and ascentium partnership represents a significant milestone in its commitment to delivering comprehensive business solutions on a global scale. it brings an expansion of the firm’s offshore service offerings, focusing on corporate administration, trust, and fiduciary services leveraging ascentium’s international network of 1,800 professionals operating in 37 cities in 14 markets. this added scale and connectivity will enable harneys fiduciary to enhance the agility and flexibility of its service offering, empowering clients with greater access and efficiency.

ross munro, ceo of harneys fiduciary, states: “joining forces with ascentium amplifies our vision and reaffirms our commitment to delivering market-leading client services. this presents an incredible opportunity to take our offering to the next level in our 50th year of operations. we have gotten to know the ascentium team well and are confident that this development will enhance our capabilities, enabling us to provide tailored solutions to our clients worldwide.”

lennard yong, founding management & group ceo of ascentium added: “we are delighted to welcome ross and the harneys fiduciary team. their offshore expertise aligns perfectly with our mission to provide comprehensive business solutions globally. it strengthens our ability to serve clients across multiple jurisdictions, further reinforcing ascentium’s position as a leader in the industry."

leadership visiting harneys fiduciary's bvi office. from left to right: lennard yong, founding management and group ceo of ascentium, amy roost, maria pia buchi, macia payne, claire abrehart, sarah lynch, emma bailey, wendy wang, founding management and group president of ascentium, ross munro.

about ascentium

ascentium is a leading global business services platform dedicated to helping businesses scale greater heights. headquartered in singapore, we empower extraordinary growth through specialised expertise across corporate, hr, accounting, tax, private client/family offices, advisory, cross-border/fdi, risk assurance, and audit services. our team of 2,000+ professionals spans 37 cities across 14 markets in the asia-pacific region and the middle east, serving over 30,000 active clients across diverse industries. through innovative, technology-enabled solutions and a collaborative approach, ascentium drives transformative growth, helping clients navigate complex global environments.

for more information, visit: ascentium.com

about harneys fiduciary

established in 1974, harneys fiduciary is a global offshore business services provider to corporate, fund, and private clients, specialising in the provision of corporate administration, trust, and fiduciary services in the british virgin islands, the cayman islands, cyprus, hong kong, and singapore, among other key jurisdictions.

media contacts

• nancy so – associate director, group marketing, ascentium
  nancy.so@ascentium.com

• kate mullan – director, marketing & communications, harneys fiduciary
  kate.mullan@harneysfiduciary.com

全球领先的企业、基金与信托服务提供商衡力斯企业服务(harneys fiduciary)宣布与总部位于新加坡的全球商业服务平台 ascentium 建立合作关系。这一重要举措体现了衡力斯企业服务的长期发展战略，进一步强化其创新解决方案的实行能力，并拓展其服务覆盖范围来更好地服务全球客户。

衡力斯企业服务与 ascentium 的战略合作，标志着其在全球提供一体化商业解决方案方面的重要里程碑。此次合作拓展了本公司在离岸服务领域的业务版图，深耕于公司管理、信托及委托服务，并结合ascentium 遍及14个市场、37个城市、由1800名专业人士组成的国际网络，进一步提升全球服务能力。这一规模与网络优势的加持，将助力衡力斯企业服务提升服务的灵活性与响应速度，为客户带来更广泛的资源和更高效的体验。

衡力斯企业服务 首席执行官 ross munro 表示:「与 ascentium 携手合作，不仅深化了我们对卓越客户服务的承诺，也进一步彰显了我们的战略愿景。在公司成立五十周年之际，这一合作为我们迈向更高层次的发展提供了宝贵机遇。我们与 ascentium 团队建立了良好的互信关系，深信此次整合将显著提升我们的综合能力，使我们能够为全球客户提供更加契合需求的定制化解决方案。」

ascentium创始管理层成员及集团首席执行官lennard yong 补充：「我们非常高兴ross与衡力斯企业服务团队的加入。他们在离岸领域的专业知识与我们致力于为全球提供全面商业解决方案的使命高度契合。此次合作将进一步增强我们在多个司法管辖区为客户提供服务的能力，巩固 ascentium 在行业中的领导地位。」

领导团队访问衡力斯企业服务的英属维尔京群岛办公室。从左到右依次为：ascentium创始管理层成员及集团首席执行官 lennard yong, amy roost, maria pia buchi, macia payne, claire abrehart, sarah lynch, emma bailey, ascentium创始管理层成员及集团集团总裁 wendy wang, 以及ross munro。

关于ascentium

ascentium是一家领先的全球商业服务平台，致力于协助企业攀登更高峰。其总部位于新加坡，凭借在企业服务、人力资源管理、会计、税务、私人客户与家族办公室、咨询、跨境投资/外商直接投资、风险保障与审计等领域的专业能力，持续赋能客户成长。ascentium拥有由 2,000 名专业人士组成的团队，业务遍及亚太及中东地区 14 个市场的 37 个城市，服务超过 30,000 家来自各行各业的活跃客户。凭借创新的科技解决方案和协作服务模式，ascentium 致力于推动企业转型成长，帮助客户在复杂多变的全球商业环境中把握先机。

欲了解更多资讯，请浏览：ascentium.com

关于衡力斯企业服务

衡力斯企业服务成立于 1974 年，是全球领先的离岸商业服务提供商，为企业、基金及私人客户提供专业服务，专注于企业管理、信托及受托服务。我们的业务覆盖英属维尔京群岛、开曼群岛、塞浦路斯、香港、新加坡等多个关键司法辖区。

欲了解更多资讯，请浏览：harneysfiduciary.com

媒体联系人

• nancy so – ascentium集团市场副总监
  nancy.so@ascentium.com
• kate mullan – 衡力斯企业服务市场与传讯总监
  kate.mullan@harneysfiduciary.com

a harneys fiduciary, provedora global de serviços corporativos, para fundos e trusts, uniu-se à ascentium, uma plataforma global de serviços empresariais com sede em singapura. este passo reflete a estratégia de crescimento de longo prazo da harneys fiduciary, reforçando sua capacidade de oferecer soluções inovadoras e expandindo sua presença para atender melhor seus clientes em mais jurisdições.

a parceria entre harneys fiduciary e ascentium representa um marco importante no compromisso com soluções empresariais abrangentes em escala global. traz consigo a ampliação dos serviços offshore da empresa, com foco em administração corporativa, trusts e serviços fiduciários, aproveitando a rede internacional da ascentium, composta por 1.800 profissionais atuando em 37 cidades de 14 mercados. esse aumento de escala e conectividade permitirá à harneys fiduciary oferecer serviços com mais agilidade e flexibilidade, proporcionando aos clientes maior acesso e eficiência.

ross munro, ceo da harneys fiduciary, afirma: “unir forças com a ascentium amplia nossa visão e reafirma nosso compromisso com a oferta de serviços de excelência. esta é uma oportunidade extraordinária de levar nossos serviços a um novo patamar em nosso 50º ano de operações. conhecemos bem a equipe da ascentium e estamos confiantes de que este desenvolvimento fortalecerá nossas capacidades, permitindo-nos oferecer soluções sob medida a nossos clientes em todo o mundo.”

lennard yong, fundador e ceo do grupo ascentium, acrescentou: “estamos muito felizes em receber ross e a equipe da harneys fiduciary. a expertise offshore deles está totalmente alinhada com a nossa missão de fornecer soluções empresariais completas em escala global. isso fortalece nossa capacidade de atender clientes em diversas jurisdições, reforçando ainda mais a posição da ascentium como líder do setor.”

leadership visiting harneys fiduciary's bvi office. from left to right: lennard yong, founding management and group ceo of ascentium, amy roost, maria pia buchi, macia payne, claire abrehart, sarah lynch, emma bailey, wendy wang, founding management and group president of ascentium, ross munro.

sobre a ascentium
a ascentium é uma das principais plataformas globais de serviços empresariais, dedicada a ajudar empresas a alcançarem novos patamares de crescimento. com sede em singapura, promovemos um crescimento extraordinário por meio de expertise especializada em áreas como serviços corporativos, recursos humanos, contabilidade, impostos, clientes privados/family offices, consultoria, investimentos estrangeiros diretos (fdi), gestão de riscos e auditoria.

nossa equipe de 2.000 profissionais está presente em 37 cidades de 14 mercados na região ásia-pacífico e no oriente médio, atendendo mais de 30.000 clientes ativos em diversos setores. com soluções inovadoras e baseadas em tecnologia, e uma abordagem colaborativa, a ascentium impulsiona um crescimento transformador, ajudando os clientes a navegar em ambientes globais complexos.
para mais informações, visite: ascentium.com

sobre a harneys fiduciary

fundada em 1974, a harneys fiduciary é uma provedora global de serviços empresariais offshore para clientes corporativos, fundos e clientes privados, especializada em administração corporativa, trusts e serviços fiduciários nas ilhas virgens britânicas, ilhas cayman, chipre, hong kong e singapura, entre outras jurisdições importantes.
para mais informações, visite: harneysfiduciary.com

contatos com a imprensa

• nancy so – associate director, group marketing, ascentium
  nancy.so@ascentium.com

• kate mullan – director, marketing & communications, harneys fiduciary
  kate.mullan@harneysfiduciary.com

harneys fiduciary, proveedor global de servicios corporativos, de fondos y fideicomisos, ha unido fuerzas con ascentium, una plataforma global de servicios empresariales con sede en singapur. este paso refleja la estrategia de crecimiento a largo plazo de harneys fiduciary, fortaleciendo su capacidad para ofrecer soluciones innovadoras y ampliando su alcance para atender mejor a los clientes en una gama más amplia de jurisdicciones.

la alianza entre harneys fiduciary y ascentium representa un hito importante en su compromiso de ofrecer soluciones empresariales integrales a escala global. esta colaboración implica una expansión de los servicios offshore de la firma, con un enfoque en administración corporativa, fideicomisos y servicios fiduciarios, aprovechando la red internacional de ascentium, compuesta por 1.800 profesionales que operan en 37 ciudades y 14 mercados. esta escala y conectividad adicionales permitirán a harneys fiduciary aumentar la agilidad y flexibilidad de su oferta de servicios, brindando a los clientes mayor acceso y eficiencia.

ross munro, ceo de harneys fiduciary, afirma: "unir fuerzas con ascentium amplifica nuestra visión y reafirma nuestro compromiso de ofrecer servicios al cliente líderes en el mercado. esta es una oportunidad extraordinaria para llevar nuestra oferta al siguiente nivel en nuestro 50.º aniversario. hemos llegado a conocer bien al equipo de ascentium y confiamos en que este desarrollo potenciará nuestras capacidades, permitiéndonos ofrecer soluciones personalizadas a nuestros clientes en todo el mundo.”

lennard yong, fundador y ceo del grupo ascentium, añadió: "estamos encantados de dar la bienvenida a ross y al equipo de harneys fiduciary. su experiencia en servicios offshore se alinea perfectamente con nuestra misión de ofrecer soluciones empresariales integrales a nivel mundial. esta alianza refuerza nuestra capacidad para atender a clientes en múltiples jurisdicciones y consolida aún más la posición de liderazgo de ascentium en el sector.”

leadership visiting harneys fiduciary's bvi office. from left to right: lennard yong, founding management and group ceo of ascentium, amy roost, maria pia buchi, macia payne, claire abrehart, sarah lynch, emma bailey, wendy wang, founding management and group president of ascentium, ross munro.

acerca de ascentium
ascentium es una plataforma global líder en servicios empresariales, dedicada a ayudar a las empresas a alcanzar nuevos niveles de crecimiento. con sede en singapur, impulsamos un crecimiento extraordinario mediante experiencia especializada en servicios corporativos, recursos humanos, contabilidad, impuestos, clientes privados/family offices, asesoría, inversiones extranjeras directas/transfronterizas, aseguramiento de riesgos y auditoría. nuestro equipo de 2.000 profesionales opera en 37 ciudades de 14 mercados en la región de asia-pacífico y oriente medio, sirviendo a más de 30.000 clientes activos de diversas industrias. a través de soluciones innovadoras, habilitadas por tecnología, y un enfoque colaborativo, ascentium impulsa un crecimiento transformador, ayudando a los clientes a navegar entornos globales complejos.

más información en: ascentium.com

acerca de harneys fiduciary
fundada en 1974, harneys fiduciary es un proveedor global de servicios empresariales offshore para clientes corporativos, fondos y privados. está especializada en la prestación de servicios de administración corporativa, fideicomisos y servicios fiduciarios en las islas vírgenes británicas, las islas caimán, chipre, hong kong y singapur, entre otras jurisdicciones clave.

contactos de prensa

• nancy so – associate director, group marketing, ascentium
  nancy.so@ascentium.com

• kate mullan – director, marketing & communications, harneys fiduciary
  kate.mullan@harneysfiduciary.com

harneys fiduciary is pleased to share that chief commercial officer maria pia buchi has been recognised with the bronze award in the woman of the year–business growth category at the citywealth powerwomen usa awards 2025. this recognition highlights pia’s leadership, dedication, and contributions to driving business growth at harneys fiduciary.

our ceo, ross munro, was recently featured in acclaim magazine, in which he discussed the key challenges and milestones that have shaped our journey over the years. as we celebrate our 50th anniversary and our recent recognition as independent trust firm of the year, ross highlights the importance of staying ahead of industry changes and building a culture of continuous innovation. his insights offer a behind-the-scenes look at the strategies driving our sustained growth and success.

read the interview here

see the full edition here: acclaim magazine.

harneys fiduciary is pleased to announce it has been named independent trust firm – caribbean at the annual miami family wealth report 2025 awards. this award recognises the team’s commitment to providing exceptional services and trusted solutions to its clients around the globe.

harneys fiduciary is pleased to announce the expansion of our private wealth team with the appointment of david jordine as director in our bvi office.

david brings over 20 years of experience in the financial services sector, with a career spanning trust and corporate services in leading financial centres, including the bahamas, the cayman islands, and bermuda. his professional background includes managing complex and bespoke structures, including charities, foundations, private trust companies, and private equity funds.

bvi managing director of harneys fiduciary, claire abrehart commented:
"i am delighted to welcome david to our team. his expertise in family office advisory and managing complex structures will further enrich our private wealth offering”.

harneys fiduciary’s private wealth team is committed to delivering practical solutions to high-net-worth and ultra-high-net-worth individuals, their families and their businesses, providing a full complement of bvi and cayman islands corporate, wealth and fiduciary services globally.

harneys fiduciary has expanded its service offerings into the united kingdom, strengthening its presence in one of the world’s most prominent international financial hubs. this strategic move broadens harneys fiduciary's reach and reinforces its commitment to providing top-tier fiduciary solutions in key global markets.

from its london office, harneys fiduciary provides a comprehensive range of services to uk companies, including company registration and incorporation in england and wales, assistance with the register of overseas entities, and a full suite of compliance solutions, corporate services, fund services, and private wealth management. the expansion reflects the company’s ongoing dedication to meeting the evolving needs of its clients with the highest level of expertise and service quality.

"our entry into the uk jurisdiction marks a significant milestone in our growth strategy,” said ceo of harneys fiduciary ross munro. “we are excited to bring our trusted fiduciary services to the uk market and continue adding value for our clients around the world.”

harneys fiduciary now operates in six global jurisdictions, offering customised fiduciary and corporate services designed to navigate the unique regulatory landscapes of each region.

the story of harneys fiduciary began in 1974, when the founding partners of the law firm harney westwood & riegels, harold harney, michael riegels, and neville westwood, started the business in the british virgin islands.

the law firm had been founded 14 years earlier and they wanted to additionally provide corporate and administrative support to their clients. demand took off and the business started servicing corporate, fund and private clients across a variety of industries. today, harneys fiduciary has evolved into a global business services provider operating in 10 locations worldwide and employing 300 professionals.

by the early 2000s, harneys fiduciary established its first office outside the caribbean in london, followed in quick succession by offices in the cayman islands, hong kong, montevideo, são paulo, shanghai, cyprus, and most recently, miami and singapore in 2019.

chief executive officer ross munro, who has been with the business for nearly 20 years, reflects: “it is incredible to see how far we have come since our inception in 1974. our journey from a single office in the bvi to an international offshore business services provider would not have been possible without the support of our clients and the commitment of our people.”

macia payne, harneys fiduciary’s longest-standing employee and managing director of corporate service in the bvi, shared her experience over the years: “i joined harneys fiduciary as an office administrator over 35 years ago during the telex era, which transitioned to fax machines, and then fast forward to today’s internet communication platforms. experiencing these developments first-hand, you appreciate how far technology has brought us”. it has not always been smooth sailing over the course of 50 years, macia payne adds: “we have faced both prosperous and challenging times, yet the foundations we have built have allowed us to persevere and continually evolve.”

over the years, harneys fiduciary has navigated significant legislative changes that have shaped their service offering, including the introduction of the bvi international business companies act in 1984 and the bvi business companies act in 2004. the company also collaborated with its strategic alliance partner, harneys law firm, to develop the first-of-its-kind economic substance classification tool. in addition to its focus on innovation, harneys fiduciary is committed to promoting diversity and inclusion within their business. more than half of the company’s directors and the senior leadership team are women.

earlier this month, harneys fiduciary announced the completion of its sale by harneys law firm. “our ability to adapt has been key to our longevity,” says maria pia buchi, chief commercial officer. “our recent change of ownership marks a monumental chapter for us. we have planted our roots and are now branching out into new horizons, all while honouring our heritage.”

in addition to its business endeavours, harneys fiduciary is committed to being an active member of the communities in which it operates and supporting charitable organisations worldwide. ross munro adds, “harneys fiduciary is not just a business; it is a community, and when people come together, remarkable things happen. we look forward to continuing our legacy together”.

to commemorate harneys fiduciary’s golden anniversary, a dedicated history microsite has been added to the website, which will continue to be populated with insights and events over the course of their 50th year. visit www.harneysfiduciary.com/at-a-glance/our-story/

harneys is pleased to announce the completion of the sale of its fiduciary business, harneys fiduciary, to hillhouse investment (“hillhouse”), a leading global private equity firm. the sale will enable harneys to invest in the strategic direction of the law firm by pursuing growth in new jurisdictions, products and services, with a focus on innovation and technology.

harneys fiduciary, working with its new partner hillhouse, will continue to deliver its high standard of service while providing innovative new offerings and agile solutions. the acquisition bolsters harneys fiduciary’s strategic growth plans across its global network with the support of hillhouse’s expertise and resources. the business will continue to be led by chief executive officer ross munro and chief commercial officer pia buchi.

william peake, global managing partner at harneys, commented: “this transaction marks an exciting new chapter for harneys law firm, 64 years after it was formed. in that time we have always remained at the forefront of innovation and we will continue to do so. a unique feature of the sale is the creation of the harneys accelerator fund, which is funded by a proportion of the sale proceeds and will be the foundation of our dynamic ambitions. we look forward to working alongside harneys fiduciary to build on our combined expertise and shared vision for the future.”

ross munro, ceo of harneys fiduciary, added: "partnering with hillhouse presents an incredible opportunity for us to take our business to the next level. as harneys fiduciary approaches its 50th anniversary, it is important to leverage our heritage as we move forward. we have built an enduring legacy with harneys law firm, and we are united in our shared commitment toward putting our clients at the forefront of everything we do as we embark on this new chapter."

hillhouse is focused on building and investing in high-quality companies across business services, healthcare, energy transition, industrials, and consumer sectors to achieve long-term sustainable growth. sean carney, head of global investment at hillhouse, stated: "our investment in harneys fiduciary underscores our confidence in their leadership team and their commitment to providing top-tier services to their global clientele. we look forward to supporting the company’s continued growth and innovation." hillhouse’s closing of the harneys transaction was completed following approval from cfius, within the initial 45-day review period, alongside other applicable regulators.

harneys fiduciary is pleased to announce the appointment of michael hughes as head of security. michael is responsible for overseeing the operational security for the group.

michael brings over 40 years of experience in risk management, security, and information technology to harneys fiduciary. his approach to information security extends beyond technical controls, focusing on fostering a cohesive culture of security measures and ensuring alignment with organisational objectives.

chief governance, risk and compliance officer of harneys fiduciary, sarah lynch said: “i am delighted to welcome michael to our team. his exceptional experience and strategic focus on information technology and security will be instrumental in continuing to enhance our security procedures and advancing our business goals”.

harneys fiduciary is an independent provider of specialised corporate, trust, and fiduciary services operating from key offshore and onshore locations around the world, delivering bespoke solutions for corporate, investment fund and private clients. harneys fiduciary’s integrated service offering is delivered by agile experts who have a deep understanding of client’s needs and unparalleled knowledge of jurisdictional matters.

harneys fiduciary is pleased to announce the expansion of our general counsel team with the appointment of david wilman and kavita maharaj-alexander, who bring a wealth of experience and expertise to our business.

david joins us with over 25 years of professional services legal and operational experience, including more than a decade as a general counsel. david will lead the harneys fiduciary in-house legal function, driving excellence and strategic direction.

kavita has been appointed as deputy general counsel in our cayman islands office. kavita who was recently admitted to the cayman bar, has extensive experience in financial services regulation. she will be delivering legal advice on regulatory, contractual and corporate governance matters.

the general counsel team will continue to be supported by our existing members. nyssa-kaye darby, based in our british virgin islands office, serves as deputy general counsel and advises on a range of areas concerning corporate governance, regulatory and compliance. kelly ho, our deputy counsel for asia, based in our hong kong office, advises on a range of regulatory, contractual and corporate governance matters, supporting our fiduciary offices and their respective teams. finally, marios koutsios, our compliance officer for cyprus plays a valuable part-time role in supporting the team, drawing on his vast transactional experience.

each individual forms the cornerstone of the harneys fiduciary general counsel team, delivering unparalleled legal expertise and knowledge across our business.

chief governance risk and compliance officer of harneys fiduciary sarah lynch said:

“i am thrilled to welcome david and kavita to the general counsel team. their skillset serves to enhance and strengthen the team’s offering across all timezones that we operate in.”

harneys fiduciary is an independent provider of specialised corporate, trust and fiduciary services operating from key offshore and onshore locations around the world, delivering bespoke solutions for corporate, investment fund and private clients. harneys fiduciary’s integrated service offering is delivered by agile experts who have a deep understanding of client’s needs and unparalleled knowledge of jurisdictional matters.

harneys has promoted 34 people globally across all areas of the business, with promotions effective 1 march 2024.

ceo ross munro shared his congratulations: “each promotion is a reflection of the hard work, growth, and success of each person; i wish them the best of luck in their new roles. at harneys fiduciary, we continuously strive to create opportunities and career pathways for our people within the many facets of our business.”

the promotions took place in the following teams and locations:

compliance solutions

cayman: natalie lazenby | director*, trisha meyerhoff | regulatory reporting assistant manager

business development and marketing

são paulo: renan lopez | associate director

cyprus: andrea charambolous | marketing manager

hong kong: derek tai | client services executive

finance

cyprus: hara demetriou | head of finance – cayman & asia, gregory kourra | head of finance – bvi & europe, despoina konstantinou | accounts assistant

human resources

london: ellie vaughan | senior learning and development manager, sophia glenister | hr manager

cayman: allison fernandez | hr manager

fiduciary support services and it

london: john robinson | senior developer, fiduciary process improvement

bvi: saran persaud | assistant manager - fiduciary support services, kiefer slater | it support engineer

directors & trusts

bvi: kezia gomez | trust manager, tonya guishard and jennifer louis | corporate governance assistant manager

cayman: tanya dube | senior trust officer

corporate services

cayman: mary dixon | corporate services manager, agnes tsang | corporate services assistant manager

cyprus: laoura assia | senior corporate administrator, elena evagorou | senior corporate administrator

singapore: alicious goh | senior corporate administrator

hong kong: hebe choi, regina kwong, mia loo, and kutar pang | corporate services senior administrator, christy li | corporate services administrator

bvi: daisha donovan | corporate services administrator

accountancy services

cyprus: aliki karekla | client accounting specialist

governance, risk & compliance

bvi: reba thomas | assistant compliance manager, nakisha jones | senior compliance analyst, shakillia christopher and abigale simmons | compliance analyst

harneys fiduciary is pleased to announce a significant addition to its leadership team with the appointment of chief human resources officer emma bailey.

based in the british virgin islands office, emma is responsible for developing and executing human resource strategy in support of the company’s overall business plan and strategic direction. emma previously held a number of hr lead positions and has a range of experience across a variety of business areas and teams, delivering practical and collaborative hr support. she has over 17 years of experience in hr, policy, project management, law enforcement, disaster management, and business continuity. originally from the united kingdom, emma has spent the majority of her career working between the bvi, guernsey, and indonesia.

chief executive officer of harneys fiduciary ross munro said, “emma’s extensive experience and proven leadership skills will undoubtedly help us as we continue to grow, evolve, and strive to be the best in our industry. she will be dedicated to developing strategies that promote organisational effectiveness, enhance our culture, and drive our mission forward.”

harneys fiduciary is an independent provider of specialised corporate, trust and fiduciary services operating from key offshore and onshore locations around the world, delivering bespoke solutions for corporate, investment fund and private clients. harneys fiduciary’s integrated service offering is delivered by agile experts who have a deep understanding of client’s needs and unparalleled knowledge of jurisdictional matters. they work closely with the lawyers in their associated law firm, providing our clients with bespoke and integrated legal and administrative services.

harneys fiduciary is pleased to announce the appointment of joe cheung as the managing director of its hong kong office. before joining harneys fiduciary, joe managed the hong kong office of a global private client trust company growing their greater china uhnw client and esop business.

with almost 20 years’ of leadership experience in the trust and corporate services industry, joe is an expert in corporate governance, company, fund, and trust formation as well as the management and administration of company, fund, and trust structures. joe’s clients include mncs, smes, entrepreneurs, unhw families, and fund managers.

ross munro, ceo of harneys fiduciary, commented: “it is with great enthusiasm that we welcome joe on board. joe will be leading the hong kong relationship management, fiduciary and service delivery teams, and will be working closely with his counterparts in the british virgin islands and cayman islands to ensure clients enjoy an excellent and seamless customer experience.”

established in 1974, harneys fiduciary is a leading global offshore corporate services provider specialising in the provision of corporate administration, trust and fiduciary services in the british virgin islands, the cayman islands, hong kong, and singapore, among other key offshore and onshore locations around the world. they provide an integrated, flexible, and personalised end-to-end service to a client base of corporates (international businesses and financial institutions), investment funds, high-net-worth individuals and intermediaries.

harneys has announced the signing of definitive agreements for the sale of its fiduciary business, harneys fiduciary, in a transaction backed by global private equity firm hillhouse. the final closing of the transaction is subject to the completion of the separation of the fiduciary business from harneys’ law firm business, certain business restructurings, and other customary closing conditions.

established in 1974, harneys fiduciary is a leading global offshore corporate services provider specialising in the provision of corporate administration, trust and fiduciary services in the british virgin islands, the cayman islands, hong kong, and singapore, among others. upon the closing of the transaction, the business will be led by existing harneys fiduciary ceo ross munro and chief commercial officer pia buchi.

ross munro, ceo of harneys fiduciary, said: “we are excited to partner with hillhouse as they share our values and vision for the business. their support and long-term investment will enable us to take the business to the next level and provides us with the capital and strategic resources to fulfil our ambitious growth plans.”

the sale will provide harneys with the means to invest in the strategic growth of the law firm, with a focus on innovation, including the development of new products, services, and investment in technology to enhance client service and delivery.

william peake, global managing partner of harneys, commented: “this transaction creates two people-focused, dynamic, and forward-looking businesses. it opens an exciting new chapter for the harneys law firm. after carefully reviewing our strategy as a firm, we fully believe that this step will mean we are better positioned to target growth and offer our clients even more innovative services and solutions. a unique element of this decision is that a significant portion of the sale proceeds will be reinvested back into the business through the creation of a harneys accelerator fund. this will enable us to invest in new technologies and products, explore new markets and generally optimise our business operations.”

hillhouse partner sean carney added: “we are impressed by the leadership team led by ross munro who have built a leading offshore corporate services provider. we look forward to a close strategic partnership with the harneys law firm following the closing.”

founded in 2005, hillhouse is a leading global private equity firm focused on building and investing in high quality companies across business services, healthcare, energy transition, industrials, and consumer to achieve long-term sustainable growth. hillhouse partners with exceptional entrepreneurs and management teams to create value from its offices in singapore, hong kong, beijing, london, and new york.

harneys were advised by pwc corporate finance and linklaters.

harneys is pleased to announce the appointment of theodoros assiotis and theodoros zafiropoulos to the board of directors for harneys fiduciary cyprus. the pair will co-head the firm’s cyprus fiduciary offering.

theodoros assiotis is head of the fiduciary accounting services team, specialising in the provision of accounting and preparation of financial statements for bvi, cayman and cyprus companies and trusts. he has more than 13 years of extensive experience working across various industries. prior to joining harneys fiduciary, he served as a manager and subsequently a senior manager at a big four firm, where he specialised in assurance, accounting and compliance services.

theodoros zafiropoulos is a partner in the banking and finance team in cyprus. he has more than 20 years of experience in international finance and corporate transactions, regularly acting for multilateral financial institutions, international and domestic banks, private equity funds and corporate borrowers in banking and corporate finance matters.

global head of harneys fiduciary, ross munro, commented: “i would like to congratulate my colleagues on their appointments. cyprus is the premier hub for international business opportunities in the mediterranean and one of the top venues for the incorporation and establishment of businesses across europe. i look forward to fully leveraging our position and offering in cyprus, under their joint leadership.”

harneys fiduciary cyprus offers a wide range of services to assist clients with the setup and maintenance of companies, funds and trusts in cyprus such as incorporation and setup, directorships, board support, accounting, and tax. the cyprus offering is broken into four main areas of expertise: corporate services, fund services, private wealth, and compliance solutions.

harneys fiduciary is pleased to announce the recent hire of judy chu as director of hong kong company services, bolstering the firm’s capabilities in the region.

judy joins harneys fiduciary from tmf hong kong where she served as director, head of accounting & tax services. she is a chartered secretary, chartered accountant and certified tax adviser with over 30 years of professional accounting, tax and corporate administration experience, having also held positions at deloitte and ey. judy specialises in providing corporate services to hong kong and offshore companies, including directorships, company formation, company administration, accounting, payroll, tax calculation and filing, and liquidation services.

ross munro, global head of harneys fiduciary, commented: “we are delighted to welcome judy to our team in hong kong. she brings a wealth of experience that is unparalleled and her addition to the firm further emphasis our commitment to providing first-class client service across the board. i wish her every success in her new role.”

harneys fiduciary is an independent provider of specialised corporate, trust and fiduciary services operating from key offshore and onshore locations around the world. working in tandem with its associated law firm, harneys fiduciary provides clients with an integrated, flexible and personalised end-to-end service globally, delivered by experts with unparalleled jurisdictional insight and the ability to create bespoke solutions for corporate, investment fund and private clients.

the government of the bvi has confirmed that it will join the other overseas territories and crown dependencies in introducing publicly accessible registers of beneficial ownership within a timeframe that aligns with uk government and eu policy, whilst maintaining a position which is appropriate for the bvi and those who use its services.

the eu will be conducting a review in 2022 to consider the impact that these public registers will have on the privacy and rights of its member states. the establishment of an international standard will be dependent on the outcome of this review. this provides the government of the bvi with sufficient time to refine its approach and to implement a system which meets the principles of the fifth anti money laundering directive, while avoiding the potential disruption that would be caused by a more immediate implementation. this is far from a one-way direction of travel and it is clear from the uk’s programme for reform of its own companies house (published this month) that availability to the public is not a sufficient replacement for professional verification.

while it is likely that there will be no material changes to the uk government’s position on publicly accessible beneficial ownership registers until 2023, there may be a requirement to introduce an order of council before then, which is a procedural step imposed by parliament.

the view at harneys is that the eu and the uk will recognise the significant contribution that the overseas territories have made to developing global standards of accessibility and transparency and that they will take time to consider carefully the impact that further regulations might have on each of the eu members ahead of the introduction of an international standard in 2023.

of utmost importance to harneys is protecting the interests of its clients and the firm does not believe that the solution to the introduction of publicly accessible registers is simply to make private data available to all. during the consultations, which will likely be held next year, harneys will make the case strongly that whilst bosss has proved a useful system for both analysis of beneficial ownership information and the collation of economic substance data, the very depth and nuance of information contained within it makes it inappropriate for any more publicly accessible information. harneys believes that this view is likely to be shared by other sophisticated market participants and that the bvi government will understand those concerns. many principles of bosss, such as the threshold of 25 per cent or more for beneficial ownership, are aligned with the developing international standard and are expected to remain.

until details of the consultations begin to emerge, the potential impact on individual clients and the consequent advice on compliance will continue to evolve. in the meantime, harneys will of course use its insight into developments in this area to continue to keep clients updated and informed and to guide them through the best course of action according to their situation.

harneys is pleased to announce that its online economic substance classification solution is available in three languages. in addition to english, the solution has simplified chinese and spanish language capabilities.

the solution provides a cost-effective way for bvi companies and limited partnerships with legal personalities to demonstrate formally that they have considered their position under the economic substance legislation and produce robust evidence of classification.

offering a multilingual solution is part of the firm’s commitment to delivering an outstanding and inclusive service to its clients. the automated classification solution offers tailored real-time legal advice, providing clients with a better understanding of the requirements under the new legislation.

global head of harneys regulatory, philip graham, commented: “we are pleased to have helped over 5,000 clients fulfil their economic substance requirements via the english language version of the solution. however, given the vast international reach of bvi entities, we are now very excited to be able to expand our offering and help our global clients.”

find out more about the economic substance classification solution.

as the novel coronavirus (covid-19) continues to spread across the globe, we are taking the necessary steps to prepare and safeguard our staff, maintain our seamless service to clients, and minimise disruption to our business. we are following best practices established by relevant governmental bodies and the world health organisation.

harneys has a comprehensive and robust business continuity incident management process to ensure that in the event of an incident, any impact is minimised and managed in a controlled way.

in order to maintain a safe workplace and to adapt swiftly to the rapidly developing situation, we have implemented the following preventative measures:

• our incident response team, made up of key contacts from each region, has been activated with full global representation to act in the best interest of the firm and its staff. the team is tasked with the allocation of appropriate resources to prepare employees and mitigate the impact of the virus in all offices.
• the team is dedicated to keeping employees informed and updated on our policies and procedures as it relates to good hygiene, safety and precaution, working remotely and business travel.
• we have increased cleaning of our offices; frequently touched surfaces, such as door handles, elevator buttons, phones, keyboards, workstations and countertops are routinely disinfected.
• self-isolation and remote working policies are in place for employees who may have been at risk of exposure to the virus or if they are exhibiting symptoms.
• we have suspended all non-business critical travel and have put into place measures to reduce the need for face to face interaction with third parties.
• employees are able to work remotely, using the firm’s existing audio and video conferencing facilities to safeguard continued and seamless communication both internally and externally.
• information security is extremely important to us, whether in the office or working remotely. all employees working remotely and accessing the harneys network externally do so through a dual authentication process, supported by the use of rsa sign-on tokens as well as using their harneys network credentials. this process of two factor authentication is then supported by the standard harneys security infrastructure which holds global iso 27001 certification.

if you have any questions or concerns, please reach out to your usual harneys contact or you can email our established response team at covid19@harneysfiduciary.com.