Eight of the countries included on the European Union list of non-cooperative jurisdictions published in December 2017 have now been removed, less than two months after the list was set up.
The countries removed from the list are Barbados, Grenada, the Republic of Korea, Macao, Mongolia, Panama, Tunisia and the United Arab Emirates. According to a statement issued by the Council of the EU they have been moved to a separate category of jurisdictions subject to close monitoring, "following commitments made at a high political level to remedy EU concerns".
The decision leaves nine jurisdictions on the list. These are American Samoa, Bahrain, Guam, Marshall Islands, Namibia, Palau, Saint Lucia, Samoa and Trinidad and Tobago.
No announcement has been made regarding progress on the evaluation of jurisdictions in the Caribbean area which was not completed because of the natural disaster that affected the region in September 2017, and which is due to resume by February 2018.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.