Tag: Featured
Chamber adds voice to police criticisms
(CNS Business): The Cayman Islands Chamber of Commerce is calling for the departing police commissioner to produce and publish a report detailing the difficulties within the Royal Cayman Islands Police Service. In a short statement from the Chamber Council, the members said that the change in leadership with David Baines’ departure presented an opportunity to […]
Developers make golf course planning application
(CNS Business): Plans for an Arnold Palmer golf course, which is meant to be part of a new resort in the Frank Sound area of North Side, have been submitted to the Central Planning Authority but officials have confirmed that it is not a planned area development (PAD) application nor has an environmental impact assessment […]
Law firm seeks to block ex-employees’ new jobs
(CNS Business): Appleby (Cayman) Limited has filed an application for a judicial review of a decision by the chief immigration officer, who granted rival firm Harneys temporary work permits for two of their former employees. Appleby claims that at the time, it still held work permits for Jonathan Bernstein and Ian Gobin, and that, according to […]
CAL queries Mexican airspace fees
(CNS Business): The CEO of Cayman Airways says there are no records to support claims by the Mexican authorities that Cayman owes hundreds of thousands of dollars in fees for flying through its airspace and that talks continue to resolve the problem. Fabian Whorms explained that CAL, like other airlines, has received invoices from Mexico […]
Name change for accountants’ regulator
(CNS Business): The regulating body of Cayman’s accountancy profession has changed its name to to the Cayman Islands Institute of Professional Accountants (CIIPA). Formerly the Cayman Islands Society of Professional Accountants, the organisation says its new name, which was officially changed during a recent Extraordinary General Meeting, more accurately illustrates its critical role as regulator […]
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 […]
Experts warn of fallout from Panama Papers
(CNS Business): Cayman may not have been named yet in the Panama Papers, but the scandal is only just beginning and with many more documents yet to be analysed and released in May, there are no guarantees that the jurisdiction will escape unscathed. But even if it does, the impact of the papers could still […]
Call for direct rule ‘absurd’, says Panton
(CNS Business): Cayman’s financial services minister has dismissed as absurd the suggestion by the UK Leader of the Opposition, Jeremy Corbyn, that the British government should consider imposing direct rule on its overseas territories and dependencies if they do not comply with UK tax law. Corbyn was reacting to a massive leak from Panamanian law firm Mossack Fonseca, which […]
Cayman still hopeful it can avoid central register
(CNS): Senior UK officials who visited the Cayman Islands in February to discuss the issue of beneficial ownership reiterated Britain’s position that it could impose its preferred approach on the islands, which is an open central register, through legal means, the Financial Services Ministry stated in a release. However, even after the damning revelations in […]
Cayman’s compliance vastly superior to Panama’s
(CNS Business): The biggest tax leak in history, which revealed how a law firm in Panama helped thousands of people, including a number of world leaders, evade tax and hide money offshore, has up ramped calls for the UK government to increase the pressure on the British overseas territories (BOTs), including the Cayman Islands, to […]
De-risking threatens US dollar access for Cayman Banks
(CNS Business): De-risking by US banks, which left the overseas money transfer services firms unable to operate in Cayman for some time last year, still threatens to cause a much bigger crisis for the financial services industry, with the practice of closing bank accounts deemed to be too risky focused on Cayman banks that could […]
‘The Donald’ to undergo psych and cash review by watchdog
(CNS Business): Donald Trump, the controversial Republican presidential candidate who may well secure the party’s nomination, will be undergoing detailed scrutiny at the 14th Annual OffshoreAlert Conference in May. The watchdog has announced that the state of Trump’s psychological makeup and his billionaire status will be examined at the upcoming Miami conference.
Carnival first major US cruise line to sail into Cuba
(CNS Business): The world’s largest cruise company will be the first of the major American lines to cruise to the island of Cuba in more than 50 years. According to international reports, the Adonia, one of the cruise line’s Fathom brand, will sail from Miami with 704 passengers for a week-long trip to the island on […]
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