Cayman News
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DCI prepares to call time on booze licencees
(CNS Business): The Department of Commerce and Investment (DCI) is urging liquor licence holders to submit their applications ahead of Friday’s deadline, otherwise they will have to apply again from scratch. Officials are concerned that, based on the number of applications they have received so far, most licencees are leaving things until the last minute […]
Airport retail space up for grabs
(CNS Business): As the Cayman Islands Airports Authority (CIAA) continues work on the redevelopment of Owen Roberts International Airport (ORIA), it is about to begin an open tender for all the retail spaces at the new facility, which is set to open in 2018. A total of seventeen potentially lucrative spaces will be up for […]
Ex CIMA compliance boss moves to FRA
(CNS Business): Robert James Berry, the former head of compliance at the Cayman Islands Monetary Authority, has been appointed as the director of the Financial Reporting Authority (FRA). Berry, an anti-money laundering expert who worked in private banking before he joined CIMA, has move to the government unit responsible for investigating suspicious activity in the […]
Tech zone makes deal for conference series
(CNS Business): Cayman Enterprise City (CEC) has announced a five-year deal with the Internet Marketing Association to host annual Impact Cayman conferences on the islands over the next five years, and is expected to attract overseas delegates and boost visitor numbers. The first conference was held in April after Premier Alden McLaughlin attended the IMA’s […]
CUC earnings boosted by hot weather
(CNS Business): Sales were up by 7% for CUC during the second quarter of 2016, the firm has reported. While this was partly due to a slight increase in customer numbers, the main factor was the warmer weather, as the average temperature for the period was up by almost a full degree and people turned […]
Deputy takes over as compliance boss at CIMA
(CNS Business): After ten years as deputy, Audrey Roe has been promoted to head of the Compliance Division at the Cayman Islands Monetary Authority. Now leading one of CIMA’s most important divisions, she has also assumed the role of money laundering reporting officer for the authority. With some thirty years financial sector experience, Roe will be […]
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 […]
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 […]
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