Tag: UK

UK chancellor backs Cayman’s position on beneficial ownership

UK chancellor backs Cayman’s position on beneficial ownership

| 19/05/2016 | 7 Comments

(CNS Business): The government has released the response it received from Britain’s Chancellor of the Exchequer, George Osborne, to the letter sent to him by Financial Services Minister Wayne Panton about the Cayman government’s position on the sharing of beneficial ownership informa [...]

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Cayman changes perception of offshore centres

Cayman changes perception of offshore centres

| 18/05/2016 | 0 Comments

(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 [...]

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UK-Cayman beneficial ownership deal more secure than register

UK-Cayman beneficial ownership deal more secure than register

| 02/05/2016 | 1 Comment

(CNS Business): The system agreed by the UK and the Cayman Islands over how beneficial ownership information will be shared with the relevant authorities is safer than a centralised public register because the new platform for access will not require information to be aggregated in one place, wh [...]

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Corbyn queries Cayman’s celebration over UK deal

Corbyn queries Cayman’s celebration over UK deal

| 13/04/2016 | 8 Comments

(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 parl [...]

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UK-Cayman sign deal on beneficial ownership

UK-Cayman sign deal on beneficial ownership

| 11/04/2016 | 0 Comments

(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 regi [...]

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Cayman details alternative to open beneficial owners register

Cayman details alternative to open beneficial owners register

| 26/02/2016 | 4 Comments

(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 [...]

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Panton battles latest blacklist

Panton battles latest blacklist

| 24/12/2015 | 5 Comments

(CNS Business): Financial Services Minister Wayne Panton is still battling to get the Cayman Islands taken off the latest blacklist, maintaining that the inclusion of Cayman on the European blacklist of financial centres was completely inappropriate and misinformed. However, he said that stigma [...]

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Duddridge to press for open register

Duddridge to press for open register

| 20/11/2015 | 5 Comments

(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 ha [...]

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UK continues to press for beneficial ownership registry

UK continues to press for beneficial ownership registry

| 01/10/2015 | 0 Comments

(ukukCNS): The British Prime Minister has stated that not enough is being done to tackle tax evasion by the UK’s overseas territories. Speaking during a trade mission to Jamaica, David Cameron said he is not happy with the way some British overseas territories are resisting financial transpar [...]

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Tory peer’s costly advice off the mark

Tory peer’s costly advice off the mark

| 23/04/2015 | 0 Comments

(CNS Business): The Conservative peer who was employed by the Cayman Islands Government to advise and lobby for its offshore sector in the UK appears to have been giving some poor advice. David McLean, known as Lord Blencathra, reportedly told CIG last year that the UK Prime Minister’s goal t [...]

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UK demands ownership registry

UK demands ownership registry

| 30/03/2015 | 3 Comments

(CNS Business): UK leaders have been battling with British overseas territories and crown dependencies to “open their books” and comply with the demands to create a beneficial ownership registry, which would affect around 2.5 million companies. Now, offshore financial centres, including the [...]

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Dart boss shares UK platform with premier

Dart boss shares UK platform with premier

| 26/03/2015 | 9 Comments

(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 [...]

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Cayman Finance open to engage Labour on ownership issue

Cayman Finance open to engage Labour on ownership issue

| 21/03/2015 | 0 Comments

(CNS Business): As the May election period for the UK approaches, the opposition Labour party remains adamant about enforcing a centralized and public beneficial ownership register on British territories if it forms the next government. CEO of Cayman Finance, Jude Scott, told CNS Business that [...]

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Labour will demand public register for UK’s territories

Labour will demand public register for UK’s territories

| 09/02/2015 | 9 Comments

(CNS): If the Labour party wins the UK general election in May, the Cayman Islands and other British overseas territories will be required to introduce publicly accessible beneficial ownership registries or face blacklisting. Ed Miliband has reportedly written to all of the UK’s overseas t [...]

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UK clamps down on tax avoidance

UK clamps down on tax avoidance

| 17/12/2014 | 0 Comments

(CNS Business): The British government has published draft legislation for a new Diverted Profits Tax (DPT), dubbed the “Google tax”, by which it intends to sidestep Britain’s existing tax treaties with low-tax jurisdictions by levying a charge that would fall outside the [...]

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