What are the key trends shaping corporate services globally?

• Regulatory compliance and governance are increasingly impacting operational flexibility and demanding greater on-the-ground expertise.
• Data security, AML practices and reputational management are top priorities as regulators enforcing stricter controls some turning to public penalties.
• Innovation hubs and internationalisation are driving growth in Asia and the UAE with structures that attract global investors.

In a global environment of macroeconomic uncertainty and evolving regulatory demands, we spoke with several of our leaders across Walkers Professional Services (WPS) to see how these are affecting corporate services.

Our leaders broke down the one defining trend that is shaping financial services in each of our core jurisdictions and what to look out for as we near the end of 2025.

Asia: Internationalisation driving growth

As regulatory compliance becomes a marker of credibility, clients are increasingly moving towards strong governance and independent AML oversight.

While regulatory developments in Hong Kong and Singapore have increased their appeal as mature domiciles, particularly for domestic LPs, Cayman Island fund structures are still viewed as the unquestionable 'gold standard' in the region for international investors.

Against a backdrop of regional uncertainty, from US-China tensions to uncertainty in Taiwan, the South China Sea and the Korean Peninsula, investor caution may temper short-term growth. Over the medium term as Japanese, Korean and Southeast Asian funds grow and internationalise, demand for strong, well-regulated structures will continue to expand. The region is poised to become a vital bridge between global capital and local opportunity. 

Bermuda: Balancing regulation and innovation

In Bermuda, the defining theme is the shift from speed and flexibility toward a heavier compliance and governance burden. For clients, this tension between speed and regulation can be the biggest frustration and often a learning point.

The insurance and reinsurance sector remains the island's anchor, with a sustained growth in the insurance-linked securities ILS sector, especially with the issuance of Catastrophe bonds, which has led to an increase in the formation of ILS-focused entities throughout 2025. This largely being driven by its proven track record as a hub for risk transfer and rising investor appetite for uncorrelated returns amid heightened climate and catastrophe risks.

Growth is also coming from the digital assets and fintech sectors as the industry continues to mature as well as shipping and domiciliation into Bermuda as firms look for stability and a well-regulated environment.

The first wave of corporate income tax filings will be a major test, both for the government and service providers, for Bermuda’s adaptability. Despite higher fees than competitors such as Cayman Islands and BVI, Bermuda’s strength lies in its depth of expertise and its well-developed ecosystem, which should keep it positioned as a trusted hub for complex, high-value structures.

British Virgin Islands: Data security and reputation matters

In the BVI, regulatory change and reputational management are the key themes shaping the market. The jurisdiction has been placed on the FATF's grey list. However, the BVI regulator is confident that the jurisdiction will exit this list in due course and clients have taken comfort from the regulator's approach. We continue to monitor developments in relation to this.

Globally, both businesses and individuals are becoming more sensitive to the accessibility and privacy of their data. As individuals and sponsors get adjusted to beneficial ownership disclosures in different jurisdictions, this has also become a bigger theme in the BVI. Market consensus, however, is that the BVI Financial Services Commission (FSC) has responded well to these concerns, tightening system access and introducing clear processes for legitimate interest requests.

Separately, the BVI regulator has adopted a more public enforcement posture, publishing administrative penalties for AML and other regulatory breaches with increasing frequency in the recent years, reinforcing the jurisdictions' commitment to robust compliance and deterrence.

Cayman Islands: Demonstrating compliance

The Cayman Islands continue to lead in outsourced anti-money laundering (AML) services. What began as a regulatory requirement has since evolved into a distinct industry, with clients increasingly valuing continuity, independence and global reach from their AML service providers. Larger managers want experienced, well-connected teams that operate as an extension of their business, while still providing independent oversight.

In a similar vein to the BVI, the key trend will be a continued focus on evidencing strong AML practices to avoid any reputational setbacks. As more jurisdictions continue to grow in popularity, the Cayman Islands Monetary Authority (CIMA) is continuing to work to make sure it remains the global 'gold standard' fund domicile, but with a sharper regulatory edge than in the past. While no major legislative changes are expected, the pressure will be on firms to show consistency, independence and proactive oversight.

Ireland: The gateway to European capital

The European CLO market has grown and matured in recent years. We continue to see US managers setting up new European CLO structures. This is in tandem with the growth of the captive CLO equity fund sector. Ireland remains the gateway for asset managers looking to European markets - with the well-established Section 110 regime and the robust legal and regulatory framework in Ireland, Ireland is set to maintain its standing as the domicile of choice for European CLOs.

Shifts in global tax frameworks under the expansion of the OECD's Pillar Two rules and continued geopolitical instability will have a significant impact on the wider fortunes of the sector, risk appetite and operating models.  However, a long-anticipated package of European regulatory reforms aimed at reviving the European securitisation market should have a positive effect in reducing and harmonising the risk-based capital requirements for insurers' and banks' investing in securitisations.

United Arab Emirates: Consolidating growth

The UAE continues to strengthen its position as a hub for corporate and financial services. The rapid development of the Abu Dhabi Global Market (ADGM) and the Dubai International Financial Centre (DIFC) has been central to this momentum. A key trend is the surge in the use of Special Purpose Vehicles (SPVs), particularly in ADGM and DIFC, which offer flexible, tax-efficient and globally aligned structures. These vehicles are increasingly used by asset managers, family offices and corporates seeking sophisticated solutions tailored to regional and international needs.

The influence of sovereign wealth funds is also a major factor driving growth. Their strategic investments and partnerships not only signal confidence in the UAE’s long-term trajectory but also act as anchors, attracting global firms and fostering innovation across sectors. Complementing this is the rise of innovation ecosystems like Hub71 in Abu Dhabi and the DIFC Innovation Hub which are cultivating a new generation of fintechs, asset managers and advisory firms.

Together, these developments are transforming the UAE from a jurisdiction of choice into a fully-fledged financial marketplace, supported by political stability, lifestyle appeal and progressive regulation.

How can we help?

We offer a fully integrated, flexible and efficient service backed by deep regulatory expertise. With a focus on understanding each individual client and delivering the tailored service they need, you can depend on us to help reduce costs and minimise complexity.

Our geographic footprint allows us to take a genuinely global approach, helping clients manage changing regulations and identify the most suitable home for their business.

Get in touch with our team to see how we can help you with your fund formation, maintenance and compliance challenges.