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Small Business Association ready to lobby government
(CNS Business): Having finally, after seven years, obtained ‘non-profit organisation’ status, the Cayman Islands Small Business Association (CISBA) is now ready to re-energise its membership and to lobby government on behalf of small and micro businesses and the 17,000 or so people they employ. Among the items on its agenda is to advocate for tiered work […]
Micro business fee waiver extended for another year
(CNS Business): Owners of micro business or would-be entrepreneurs planning to start one can look forward to another year of reduced fees now that Cabinet has extended the waiver for very small businesses across all three islands, as well as the 50-75% reduction for small businesses. Commerce Minister Wayne Panton recently lauded the success of the […]
Swiss bank with CI link strikes US deal to reveal secret accounts
(CNS Business): The US Department of Justice has struck a non-prosecution deal with Schroder Bank AG that will see the Swiss-based bank and its Cayman subsidiary cooperate in any criminal or civil proceedings and pay a $10m penalty to avoid criminal charges relating to secret accounts. The DoJ also said that the Cayman arm and a Swiss […]
UK and Cayman agree on beneficial ownership principle
(CNS Business): The stand-in overseas territories minister has indicated that the UK and the Cayman Islands are in agreement over beneficial ownership, despite indications that the British government is still pushing for a central register. On a short visit to Cayman last week, Grant Shapps said he believed the two governments were in agreement over […]
Local trade website hack hits 1,000s of users
(CNS Business): The Cayman-based web directory and trading site, Ecay Business, has been hacked, impacting what the local regulator has said is thousands of user accounts, passwords and email addresses. Users are being urged to change their passwords and any other passwords they use on other sites similar to the ones used on Ecay.
Cayman’s internet domain set to go global
(CNS Business): The Information & Communications Technology Authority (ICTA) will be opening up access to the .KY domain on the global market Wednesday, allowing anyone in the world to register a local Cayman domain on a first-come, first-served basis. Managing Director Alee Fa’amoe said that the ICTA has identified interest on the international stage for […]
Rivers urges tourism sector to give locals jobs
(CNS): The employment minister is urging employers in the tourism industry to offer real job opportunities for local people and remove any artificial barriers preventing them from being employed. Speaking at a recent networking drive organised by CITA and the NWDA, Tara Rivers also told would-be workers in the sector to embrace, promote and display great customer […]
Companies get two month waiver to abide by new law
(CNS Business): The Companies (Amendment) Law 2015 will commence on Monday 2 November and requires companies to notify the registrar of any changes to their directors and officers within 60 days of the change. It establishes a CI$500 penalty per company for a breach of that obligation, up to a CI$2,500 fine for five or […]
LIME promotes young Caymanian to HR manager
(CNS) Local telecommunications firm LIME has appointed Matthew Seales as its new human resources manager for the Cayman business. Seales has worked for LIME Cayman Islands for the last seven years, having started as a retail sales associate and worked his way up to retail sales manager, looking after several stores. Now, officials said, he will […]
Cayman based compliance course certifies first graduates
(CNS Business): Two senior compliance experts working in the Cayman Islands financial services sector have become the first graduates of a specialist course created by the International Association of Certified Compliance Specialists (IACCS), which is based in Cayman. Marco Capelli and Crystal Hennings have acquired the designation of Certified Compliance Specialist (CCS) after completing the […]
LA passes laws for financial services sector
(CNS Business): Several bills relating to the Cayman Islands’ offshore financial services sector were passed in the Legislative Assembly last week, when parliament members convened for the second meeting of the budget year. Minister of Financial Services Wayne Panton highlighted four bills he said were critical for the financial future and the investment firms of this country.
Half year figures confirm tourist sector growth
(CNS): The number of visitors to the Cayman Islands on overnight trips and on cruise ships is still rising, according to the half-year figures recently released by the Department of Tourism. As Cayman faces the controversial decision about cruise piers in George Town, figures for cruise arrivals this year show that, despite a lack of […]
Cash transfer firms stay open using US currency
(CNS): Three of Cayman’s money transfer businesses have entered into new arrangements that will deal with US currency transactions only, which will enable them to continue providing cash remittance services after a number of local banks pulled out of partnerships with them. Increased concerns over the risks of these kind of financial transactions and pressure […]
Private sector development boom fails to materialize
(CNS Business): Progress on the private sector construction projects government is depending on to boost the local economy is thin on the ground as the PPM administration passes its halfway mark. From Frank Sound to George Town, government has touted a number of proposed developments by private sector investors that it is hoping will create […]
Ministry wraps up pensions public meetings
(CNS Business): Community members gathered one last time on Thursday night at the George Town Town Hall to discuss the proposed changes the Ministry of Employment and the Department of Labour and Pensions have suggested in the National Pensions Law 2015. Minister of Employment Tara Rivers said the ministry set out to gain public input […]
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