Archive for March, 2015
Boss fined $8,500 for not insuring workers
(CNS Business): A local employer has been fined $8,500 for failing to pay the necessary health insurance for a worker. Caytech Electronics and its owner, Marcelo Franca, admitted the infraction and pleaded guilty to not insuring the staff member and his family for almost two years. On 10 March Magistrate Angelyn Hernandez imposed the fine, […]
George Town bars battle over hours
(CNS Business): An application by the owner of the Roof Top Lounge on Mary Street to change the licence from a bar to a nightclub faced objections from other bar owners in the capital and allegations were flying back and forth at the liquor licensing board meeting Friday. Donna Myrie, who owns the cocktail-style bar, […]
Walkers announces 3 new attorneys
(CNS Business): Walkers Cayman Finance Group has announced three new Caymanian attorneys. Having successfully completed the firm’s Articled Clerk Training Programme, Patrick McConvey, Arikka Ebanks and Nane Erb were admitted as attorneys-at-law before Justice Charles Quin. The admissions were moved on 17, 18 and 19 March by Walkers Partner, Colette Wilkins, at the Grand Court of the […]
Cayman AEOI Portal now live
(CNS Business): On Friday 20 March at 4:15pm the Cayman Islands officially opened the doors to the Automatic Exchange of Information (AEOI) Portal to report tax information to other jurisdictions. The Financial Services Ministry has announced the AEOI Portal is now available for financial institutions to register and report customer data to the Tax Information Authority […]
Tourism booming as ministry looks ahead
(CNS Business): Tourism Minister Moses Kirkconnell said 2015 has potential to be the best year yet for tourism in the Cayman Islands. Cruise passenger arrivals for the month of January already show a 7% growth over the number of passengers Grand Cayman greeted last year.
Cayman Finance open to engage Labour on ownership issue
(CNS Business): As the May election period for the UK approaches, the opposition Labour party remains adamant about enforcing a centralized and public beneficial ownership register on British territories if it forms the next government. CEO of Cayman Finance, Jude Scott, told CNS Business that everyone needs to be cognizant about the elections and said he welcomes discussions […]
Cayman restaurants to get taste test
(CNS Business): The Best Dressed Chicken and Jamaica Observer have announced the Cayman Islands edition of the Table Talk Food Awards. On Thursday residents of the Cayman Islands and Jamaica gathered to launch the event that will showcase our islands’ culinary excellence.
Chief Justice to speak at INSOL
(CNS Business): The head of Cayman’s judiciary is stepping away from the judge’s bench and heading to California to speak at a multinational judicial colloquium on cross-border insolvency this Sunday. Chief Justice Anthony Smellie will be addressing the Eleventh Joint Multinational Judicial Colloquium on handling cross-insolvency cases where there are assets in more than one […]
CUC sells off shares to raise $30M
(CNS Business): Shareholders in Caribbean Utilities Company (CUC) are being invited to buy more shares in the local power provider as it seeks to raise around US$31 million to help fund extra generating capacity. The rights offering to existing shareholders only, for Class A ordinary shares, opens on 27 March and will close on 30 […]
Schroders closing Cayman branch
(CNS Business): An asset management company is closing its branch in the Cayman Islands. Schroders Cayman Bank & Trust Company Ltd is a global investment company that opened its doors for business in the Cayman Islands in 1972, officials confirmed with CNS Business Wednesday.
New board member for Chamber Pension Plan
(CNS Business): A new trustee has been appointed to the Chamber Pension Plan Board of Trustees. Financial services professional Rhonda Anderson will now join the board, following the term fulfillment of a previous trustee. Anderson has nineteen years of experience in the offshore financial services industry, with over fifteen of those as a financial controller.
Chamber calls for mandatory listing of job-seekers
(CNS Business): The president of the Chamber of Commerce has called on government to introduce some kind of mandatory registering of the unemployed and better statistics relating to genuine job seekers. Barry Bodden said that the Cayman economy was improving and poised for growth, which he said would “outpace the local labour pool”, but the […]
FSD judge to commute to work in Cayman
(CNS Business): A non-resident judge has begun sitting in the financial services division of the Cayman Islands Grand Court but he will be presiding over cases by commuting and through video link and conference calls as he lives in the UK. Justice Nigel Clifford QC, a former Cayman resident, was a leading attorney in the […]
Cayman’s tax exchange portal ready to run
(CNS Business): After months of preparation, the exchange of tax information from the Cayman Islands to other jurisdictions will become more efficient with the launch of a new online system. The Automatic Exchange of Information (AEOI) Portal will be launched this month and will be used by Cayman’s financial institutions to comply with their reporting obligations under intergovernmental […]
There’s no hiding from Uncle Sam
(CNS Business): Even if you’re living in the Cayman Islands, the US tax authorities can come knocking on your door if you are not in compliance with the Foreign Account Tax Compliance Act (FATCA), US taxpayers residing in the Cayman Islands learned at a free seminar on Wednesday at the Caribbean Club. The free informational meeting, […]
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