Archive for November, 2024
Cayman moves toward more beneficial owner access
(CNS) The Cayman Islands Government is moving towards expanding who can access beneficial ownership information about financial entities registered here, beyond law enforcement agencies. Cabinet is expected to consider the Beneficial Ownership (Legitimate Interest Access) Regulations, 2024 shortly, which poses the question of what legitimate interest is and who has it.
UPM needs opposition to back 21 bills when parliament meets
(CNS): The beleaguered UPM minority government will be looking to the official opposition and the independent members across the aisle for support to steer through a raft of important laws next month, now that the next parliament meeting has been set. There are 21 pieces of legislation listed for the meeting, which will start on […]
OAG: Lack of overall economic plan puts Cayman at risk
(CNS): The failure of successive governments to develop an overall strategic economic plan to finish the much overdue National Development Plan or to manage the country’s population surge is putting its future at risk, the Office of the Auditor General found in a report published Thursday. Even though Cayman’s economy is strong, largely due to […]
Sun chair rental business pops up on Boggy Sand Beach
(CNS): Rows of sun loungers and beach umbrellas for visitors to rent reappeared on Boggy Sand Beach this week. The spot located on Mary Mollie Hydes Road, behind the West Bay Four Winds gas station, is private land and was the site of a controversial pop-up beach rental business in the past. When chairs appeared […]
Hotel construction site under investigation by WORC
(CNS): Following what is understood to be the robbery of cash to pay workers at a hotel construction site on the West Bay Road on Monday and the subsequent protest by workers on the site on Tuesday, officials have confirmed that the site is now part of a WORC and labour department investigation. CNS understands […]
Lawyer says 30 years is punishment enough for double killer
(CNS): Wayne Alphanso Bellafonte Jr appeared in court via video link on Wednesday before Justice Cheryll Richards for consideration of the life sentence tariff the court should pass following his conviction of a double murder in September. Sallie Bennett-Jenkins KC, who represented him, said 30 years was already a “very severe penalty” as she argued […]
Compendium reveals myth of development struggle
(CNS): The persistent complaint from the development lobby and their political supporters was exposed as a myth in the latest edition of the Compendium of Statistics published by the Economics and Statistics Office. The idea that developers are struggling to get things done because of the National Conservation Act was revealed to be totally false […]
Cayman GDP increased to 3.6% in first quarter of 2024
(CNS): Economic activity in the Cayman Islands, as measured by the gross domestic product (GDP) in real terms, is estimated to have increased by 3.6% in the first three months of 2024 as the country continued its road to recovery after the 2020 pandemic which decimated the tourism sector for over two years.
Hotel construction site $300k payroll robbed at gunpoint
(CNS): Dozens of workers employed at the Grand Hyatt construction site in George Town protested on Tuesday because the contractor was unable to pay them after robbers allegedly stole $300,000 in an armed heist of the payroll on Monday. However, the construction workers, many of whom are permit holders, were complaining about problems getting paid […]
Offshore bills raising fees open for last public input
(CNS): A dozen amendment bills to implement the UPM government’s additional revenue-raising measures from the offshore sector and a bill to implement Phase 2 of the regulatory framework for virtual asset services in the Cayman Islands have now been published in the Gazette. These bills are now open for the last round of public consultation […]
Saunders calls for tax on foreign-owned property
(CNS): Chris Saunders, the independent opposition MP for Bodden Town West, has filed a private member’s motion asking the government to create a Healthcare Protection Fund through an annual fee of 2% on real estate properties owned by foreigners. In a video message on social media, Saunders and UPM backbench MP McKeeva Bush, who is […]
