Cayman News
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Travel industry eyes Cuba
(CNS Business): Share prices in the major cruise lines rose following President Barack Obama’s announcement last week that the US plans to re-establish diplomatic ties with Cuba. A ban on commercial tourism from the States remains in effect, with only certain travelers from the United States permitted into Cuba, but the industry giants are eyeing […]
Scott takes up advocacy job for finance sector
(CNS Business): Former Ernst and Young partner Jude Scott is the new Chief Executive Officer of Cayman Finance, the umbrella advocacy group for the local offshore sector. CF Chairman Ian Wight confirmed Scott’s appointment Thursday and said the organisation was fortunate to have such a well-respected member of the community take up this vital role […]
Cayman releases V2 FATCA Guidance Notes
(CNS Business): Just days away from the 22 December deadline for many financial institutions to register with the US tax authorities to obtain their Global Intermediary Identification Number (GIIN) by 1 January 2015, the Cayman Islands Tax Information Authority has issued Version 2 of the FATCA Guidance Notes, which clarified some of the issues raised […]
Reporters to get access to EU ownership register
(CNS Business): Investigative journalists and other concerned citizens with a “legitimate interest”, as well as law enforcement officials and legal authorities, will have access to the ultimate owners of companies listed in central registers in EU countries under a new agreement signed this week. The European Parliament and Council agreed on a draft EU anti-money […]
Welcome mat out for property owners and business
(CNS Business): A number of changes to the immigration regulations are expected to make life easier for wealthy visitors, business people and property owners coming to the Cayman Islands. Policy directives that were recently approved by Cabinet will allow business travelers to remain in the country for up to 10 working days without the need […]
Cruise tourism continues to grow
(CNS Business): As promised by the tourism minister, the dire decline in cruise ship numbers has been reversed with figures suggesting that 2014 could be the best year for the sector for a decade. In October 111,951 passengers arrived in George Town on 37 ships the best numbers for this month since 2003 and 32.44% […]
UK clamps down on tax avoidance
(CNS Business): The British government has published draft legislation for a new Diverted Profits Tax (DPT), dubbed the “Google taxâ€, by which it intends to sidestep Britain’s existing tax treaties with low-tax jurisdictions by levying a charge that would fall outside the corporate tax system. The government hopes to raise £1.4 billion over the next five years […]
Focus remains on governance in fund industry
(CNS Business): Corporate governance remains an important factor for investors in hedge funds, according to a report by offshore law firm Walkers. In their outlook report for 2015 the firm said that the legacy of investor experiences in the wake of the 2008 downturn has led to an inevitable focus on this issue, as well as the […]
New judges appointed to financial court bench
(CNS Business): Two legal experts, one from Cayman and another from the UK, have been appointed as part time judges to the Financial Services Division of the local Grand Court. Nigel Clifford QC and Nicholas Segal will take up their appointments in the New Year and will be adjudicating on many of the complex court […]
CIMA boss notes challenges to regulators
(CNS Business): At a recent regional conference in Panama the managing director of the Cayman Islands Monetary Authority pointed to the mounting challenges faced by regulators in the constantly changing environment of international finance . In her presentation at the Seventh Meeting of the Regional Consultative Group for the Americas of the Financial Stability Board (FSB), […]
New board for student CBA
(CNS Business): The Student Chapter of the Caymanian Bar Association held their annual elections last month and elected Angelique Howell, Alicia Thompson and Farrah Miller to represent them for the next year. The Board of the Student Chapter consists of three student representatives, one Undergraduate/LLB, one at the PPC/LPC/BVC level and one articled clerk. The […]
Cayman picks up inaugural media travel gong
(CNS): The Cayman Islands has been named the ‘Destination of the Year’ by The Caribbean Journal in their inaugural Caribbean Travel Awards. The on-line regional media selected the destination based on criteria that included “the efforts of its tourism sector†and “simply good marketing workâ€. Deputy Premier and Minister of Tourism, Moses Kirkconnell said it […]
Law firm reports boost in company registration
(CNS Business): There were 5,391 new company registrations in the Cayman Islands in the first half of 2014, a 17% increase over those incorporated in the jurisdiction in the preceding six months, a report by offshore law firm, Appleby, revealed. The Cayman Islands experienced the greatest percentage increase in new company incorporations across offshore jurisdictions […]
Experts debate fund industry outlook at seminars
(CNS Business): International law firm Walkers has completed another season of its series of investment funds seminars, which were held this year in New York, San Francisco and London. The Walkers Fundamentals seminars, ‘Everything Offshore – Funds in 2015′, drew over 600 high-calibre delegates, with most of the world’s leading names in the investment management business, joining […]
Expert voted onto Chamber pension board
(CNS Business): Chamber of Commerce Pension Plan members working in the Professional & Finance sectors have elected volunteer Trustee, William (Bill) Gammerdinger to represent them on the board following an extraordinary general meeting recently. A treasury and finance professional, he has over 30 years’ experience in the industry, having become Vice President and Treasurer of […]
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