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Cayman listed as 2nd worst tax haven
(CNS Business): The Cayman Islands has been named as one of the worst corporate tax havens in the world in a new report examining the impact that tax-dodging corporations have on the world’s poorest people. The report, by the international charity Oxfam, lists Cayman in second place behind Bermuda because of the zero-rated corporate income […]
80% of Law Society back new bill
(CNS): As the row over the latest draft version of the Legal Practitioners Bill continues, the Cayman Islands Law Society have released a statement backing to the proposed law and said that over 80% of its 400 plus members are behind it. The profession has been in agreement for years that a new law is […]
Golden Spoons Review: The Hungry Iguana Restaurant & Bar
(CNS Foodie): The Hungry Iguana on Little Cayman is located right by the airport but cannot supply an early supper as you wait for your plane as it doesn’t start serving dinner until 6pm. It is nonetheless a pleasant place to wait with a drink on the terrace overlooking the sea or chatting at the […]
Lawyers’ law delayed as small firms ask for time
(CNS Business): The financial services minister has postponed the debate on the still controversial Legal Practitioners bill until the next meeting of the Legislative Assembly because of a request by some small and sole practitioners who want more time to submit suggestions that specifically impact their sector of the profession. Wayne Panton, who was hoping […]
Ministry refutes water firm’s gripes
(CNS Business): Complaints from Cayman’s private sector water supplier over new legislation designed to properly regulate all utilities on the islands have been address by the planning minister in a very long detailed letter. Consolidated Water Cayman had written to the ministry that has responsibility for water and other utilities complaining that it had not […]
CUC begins to shape future energy plan
(CNS Business): The monopoly power provider on Grand Cayman has brought in consultants to begin drawing up potential future plans for CUC to consider to maintain a safe, reliable and viable electricity supply for the next three decades. Integrated Resource Plan (IRP) will set out a proposal for renewable energy and consider what the technological […]
Consolidated Water executives cash in with share sale
(CNS Business): With its share price closing in on five year highs, two executives at Consolidated Water have cashed in some significant shareholdings in the wake of the water company’s first quarter results. Stock watchers, meanwhile, await news on the firm’s Mexican subsidiary’s proposal for a desalination plant in Rosarito Beach, Baja California, which, if […]
Local lawyers join in the anti-corruption chorus
(CNS Business): With anti-corruption topping the news agenda this week as British Prime Minister David Cameron prepares to host a summit in London Thursday, the local legal profession has added its voice to the growing chorus about the ills of corruption and Cayman’s part in the fight against it. Endorsing a statement from the legal […]
Formal professional training established for judiciary
(CNS): The judiciary is adopting a more formalised process of training for judges and magistrates with the creation of the Judicial Education Committee (JEC) to help maintain a forward-looking approach to the changing legal world. It comes against the backdrop of a change to legislation last week to move magistrates, in terms of their employment […]
EU blacklist of tax havens coming within six months
(CNS Business): A European-wide blacklist of non-cooperative tax jurisdictions is definitely coming and will be announced within six months, according to EU officials. Member of European Parliament (MEP) Jeppe Kofod, who is part of the TAXE2 Committee that a delegation from Cayman recently appeared before, confirmed to CNS Business that an EU blacklist for non-cooperative […]
UK-Cayman sign deal on beneficial ownership
(CNS Business): After almost three years of talks, the UK and Cayman governments have signed a deal on the framework outlining how the information on the beneficial owners of offshore entities will be given to the British authorities. For now, Cayman has avoided the need for a public central register and has persuaded the UK […]
Panton: Mac out of touch with reality
(CNS Business): Following recent comments by Opposition Leader McKeeva Bush on Facebook about new standards for the exchange of information introduced in Cayman, Financial Services Minister Wayne Panton said Bush was “completely out of touch with reality”. The latest Common Reporting Standard is not a UK initiative but the new global standard on automatic exchange of information […]
Bar Association pleads for lawyers law
(CNS Business): Yet another year has passed with no sign of a modernised law dealing with the legal profession and, as the current president of the Caymanian Bar Association, it was Abraham Thoppil’s turn this year to urge government to address the issue. In his speech at the opening of the Grand Court Wednesday, he called it “a […]
Investors ordered to pay back over $8M in fund saga
(CNS Business): In the latest legal ruling in the Weavering Macro Fixed Income Fund saga, the Grand Court of the Cayman Islands has ordered that redemption payments made to an investor of the failed Weavering Macro Fixed Income Fund prior to the commencement of its liquidation are to be repaid, lawyers involved in the case have […]
Cayman captures market share of captives
(CNS Business): The Cayman Islands Monetary Authority revealed that Cayman’s market share in captives, despite greater competition among other domiciles is on the up. Speaking at the 23rd annual Cayman Captive Forum the regulator’s Deputy Managing Director of Operations, Patrick Bodden said that of the 742 international insurers regulated by CIMA as at September 2015, there […]
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