Tag: Alden McLaughlin
Cayman changes perception of offshore centres
(CNS Business): The narrative that the Cayman Islands and other offshore jurisdictions are to blame for the world’s corruption, financial crime and tax evasion is finally changing, Premier Alden McLaughlin and Financial Services Minister Wayne Panton believe. Having openly agreed to sign up to any new mechanisms for exchange of information on beneficial ownership at […]
Cayman to extend BO info exchange and repeal secrecy law
(CNS Business): After just two days in London, the Cayman Islands Government has announced plans to enter into deals, similar to the one it has with the UK, over the exchange of beneficial ownership information with other jurisdictions and to amend the notorious secrecy law. On the eve of the UK’s anti-corruption summit, Premier Alden […]
CAL to begin phased replacement of fleet
(CNS Business): Government has confirmed its approval of plans by Cayman Airways Limited (CAL) to begin phasing in a brand new fleet of modern aircraft to meet the expected growth in tourism. The national flag carrier is about to begin the tendering process to lease four new 737-8Max aircraft to replace its aging fleet. Despite […]
Corbyn queries Cayman’s celebration over UK deal
(CNS Business): The fact that the Cayman Islands has welcomed the recent agreement with the UK over how it will share beneficial ownership details with British law enforcement and tax authorities was used against Prime Minister David Cameron this week by the opposition leader in the British parliament. Labour party leader Jeremy Corbyn pointed to […]
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 […]
Cayman details alternative to open beneficial owners register
(CNS Business): Financial Services Minister Wayne Panton has been in discussions with UK officials about alternatives to the controversial central public register of beneficial ownership that will still meet the British government’s transparency requirements for its territories. Panton updated representatives from the Foreign and Commonwealth Office (FCO) who visited the Cayman Islands on Tuesday about progress his ministry […]
Premier berates TV show at investment summit
(CNS): The controversies surrounding the recently broadcast BBC documentary about the Cayman Islands was at the heart of a speech delivered by the country’s leader at last week’s Alternative Investment Summit. With Cayman central to the success of alternative investment, Premier Alden McLaughlin said it was a shame “that there are those who wish to shut […]
Chamber and CIG make up over unemployment
(CNS Business): The Cayman Islands Chamber of Commerce and the government have agreed to work together to address the unemployment challenges facing the country. After several weeks of finger pointing between government and the Chamber over the issue of employing local workers, the newly elected Executive Committee said they had agreed to “identify ways to stimulate economic growth which […]
UK wants direct access to Cayman company info
(CNS): The UK’s overseas territories minister has told the Cayman Islands premier that the British government wants direct access to companies registered here for all of their law enforcement agencies, but the Cayman leader has so far refused. As the dispute between the UK and its territories continues, the return of James Duddridge to the OT desk […]
Duddridge to press for open register
(CNS): As the Cayman Islands premier and other leaders of British overseas territories (BOTs) continue to resist the concept of an open beneficial ownership registry to meet the UK’s demands for more transparency regarding the offshore sector, the FCO minister with responsibility for BOTs has said he will be pressing for a commitment to transparency at this […]
Offshore banks face challenges with local banking
(CNS Business): The problem of local retail banks no longer wanting to do business with money transfer firms as a result of perceived regulatory risks is also beginning to impact offshore, or Class B, banks registered in the Cayman Islands, the premier has revealed. Following widely reported concerns over the last few weeks regarding expatriate […]
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 […]
OTs still face UK demands for beneficial ownership access
(CNS): The Cayman Islands premier has said that Britain will be putting its overseas territories under pressure to create some kind of beneficial ownership register when the OT leaders meet in London later this year. Speaking in Bermuda at the end of last week following a meeting with the leaders of other OTs, Alden McLaughlin said that even though the […]
Dart boss shares UK platform with premier
(CNS Business): Cayman’s leader, Premier Alden McLaughlin, was joined by the COO of Dart Enterprises at the House of Lords this week in promoting Cayman when he delivered a key-note address at the Caribbean Council reception. As McLaughlin sold the crowd on the benefits of investing in Cayman and the future projects government has planned, he […]
Revitalization of George Town critical
(CNS Business): Cayman Island Government leaders are emphasizing for the need for partnership with private sectors to work together to improve downtown George Town. On Thursday the Royal Institution of Chartered Surveyors held it’s second RICS Property Conference, with around 200 government officials and industry leaders at the Grand Cayman Marriott Beach Resort.
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