This memo from Erika Kellerhals to Jeffrey E. Epstein discusses the International Banking Center Regulatory Act, signed into law by Governor John P. deJongh, Jr. The Act replaces Exempt International Banking Facilities with International Banking Entities (IBE) and outlines the requirements and processes for establishing an IBE. The memo details the organizational structure, application process, allowable and prohibited activities, tax benefits, and conditions for modification, transfer, and revocation of an IBE license.
documents/EFTA01145740.pdf
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