Archive for July, 2016
NWDA on hunt for potential interns
(CNS): The National Workplace Development Agency is looking for people to join in its National Internship Programme. The NWDA said this initiative provides opportunities for unemployed young adults to get practical experience and develop their skills. Launched in 2014, the programme has had a number of successful partnerships with various companies in the community and […]
Travers takes aim at ‘delusional thinking’ on offshore finance
(CNS Business): Anthony Travers, a former Chairman of the Board of Cayman Finance, took aim at critics of low-tax jurisdictions as he joined documentary film maker, Jaques Perretti, on a panel at the IBC Transcontinental Trust Forum in Geneva last month looking at the media portrayal of the offshore industry. Dismissing those critics as “delusional”, Travers […]
UK PM signals tax haven clampdown
(CNS Business): Just as the Cayman Islands government was feeling confident that its relationship with the British government was better than ever and the UK was beginning to understand and accept the role of the offshore financial sector, the new prime minister, Theresa May, is believed to have ordered a clampdown on the use of […]
Commerce ministry signs deal to support small businesses
(CNS Business): Government is aiming to produce an action plan within the next eight months to help make small and micro businesses in Cayman more viable. Following the signing of an MOU with Cayman Islands Small Business Association and the local Chamber of Commerce, Wayne Panton, the minister with responsibility, explained that the goal was […]
DMS expands Dublin operations
(CNS Business): After humble begins with just one staff member, local businessman Don Seymour has expanded his firm’s Irish operations and is planning to hire 50 new staff, doubling the workforce at DMS in Dublin. As well as the Cayman HQ DMS also has offices in New York, São Paulo, London, Luxembourg and Hong Kong […]
Intellectual Property office to help promote new regime
(CNS Business): As the new legal regime around trademarks, copyright, design rights and patents emerges in the Cayman Islands, government has created a new office to serve as a resource for individuals seeking information on how to protect their original works. The Cayman Islands Intellectual Property Office was created to provide information to the local […]
DCI to send T&B licences via email
(CNS): The Department of Commerce and Investment (DCI) said that is has begun issuing business licences electronically to improve the licensing process. Against the backdrop of growing complaints that the new regime, which has more checks and balances in the system, has become extremely bureaucratic, officials said this week that there were more improvements in the pipeline. Commerce […]
New company law will boost business, says Scott
(CNS Business): The CEO of Cayman Finance, Jude Scott, said the Cayman Islands financial services industry has welcomed the new limited liability company (LLC) regime, which came into effect just three weeks ago with the implementation of the law and the publication of underlying related regulations. “This new LLC law will give our industry a […]
Butterfield Bank in black with positive outlook
(CNS Business): The Chief Executive Officer at Butterfield Bank, Michael Collins, said the bank was continuing to see the positive financial impact of acquisitions in trust and wealth management in its offshore markets such as Bermuda, Cayman and Guernsey, as the Bermuda-based bank released its second quarter results. “As we focus on jurisdictions in which […]
Golden Spoons Review: Agave Grill
(CNS Foodie): Located off the Butterfield Roundabout and North Sound Road, you will find a quaint, cozy cantina-sharing Mexican cuisine and techniques, the only Agaveria in the Caribbean and sharp concept cocktails from a New York cocktail expert at the one and only, Agave Grill. Closed on Sundays, Agave shares the love of all things […]
Fugitive’s company closed down over $1.69M debt
(CNS Business): A company owned by a man wanted by local police for a violent crime has been wound up by the Grand Court after a creditor in the British Virgin Islands tried and failed for more than six months to get back almost $1.7 million he had on account with B & C Capital […]
DMS caught up in class action against client
(CNS Business): Cayman-based financial services firm, DMS, has been sucked up into a class action suit against a former BVI company accused of fraud which was once one of its clients. More than 300 investors who collectively had more than $50 million invested in CWM Limited, a foreign exchange trading firm incorporated in BVI and […]
Stay-over visitors in spending bonanza
(CNS Business): Overnight visitors to the Cayman Islands fell by 1.4% in the first half of 2016 when compared to the year before but the slight drop in numbers on 2015, which was a record-breaking year for tourism, is not having an adverse effect on the bottom line. Tourism officials said that visitors are spending […]
CIMA finally fills top insurance post
(CNS Business): After several years without a leader at the helm of the Cayman Islands Monetary Authority’s insurance division, the regulator has finally filled the post. Following an open competitive recruitment process Ruwan Jayasekera has been confirmed as the new head of the department. Given the importance of the growing sector, there had been mounting […]
Flow boss aims to settle regulator issues
(CNS Business): Following recent reports of disputes between Flow and both the Information and Communications Technology Authority (ICTA) and Department of Immigration, the firm’s president, Michele English, was in the Cayman Islands this week meeting with government officials to resolve the issues relating to human resources, technical concerns and the acquisition of the parent company, […]
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