Business
Premier heads to Paris for FATF meeting
(CNS): Premier André Ebanks, who is also the financial services minister, is making his first overseas trip as the country’s leader this week, leading a delegation to the Financial Action Task Force (FATF) Plenary in France today and tomorrow (12-13 June), according to a press release from the Ministry of Financial Services and Commerce.
BSP board cracks down on bosses’ obligations
(CNS): The Business Staffing Plan (BSP) Board has adopted a zero-tolerance stance on non-compliance and will not approve work permit applications from employers that fail to meet their obligations. A government press release stated that employers must adhere to the conditions of their plan, as it is a mandatory requirement, and they must submit their […]
Cayman air arrivals soar as cruise numbers sink
(CNS): April 2025 proved to be another great month for overnight guests, with 42,757 people taking a vacation here, a 15% increase over April 2024. However, the number of cruise visitors was one of the worst Aprils on record, with a 26.6% decrease compared to last year. But the decline isn’t unique to Cayman. Jamaica […]
CUC claims it was kept in dark over FOI appeal
(CNS): In a judicial review hearing, in which CUC is challenging a decision by the Office of the Ombudsman (OMB) ordering the release of two of its industry reports held by OfReg, the power company argued that it was treated unfairly when it wasn’t invited to take part in a hearing that led to the […]
Temp permit applications now need medicals
(CNS): Workforce Opportunities & Residency Cayman (WORC) has said that from 1 July, it will require the submission of a Medical Declaration Cover Letter for all Temporary Work Permit applications. The medicals must be completed by practitioners fully registered as a medical doctor from the Cayman Islands, the United Kingdom, the United States or Canada.
CICA quashes Hill’s online bullying conviction
(CNS): Sandra Hill, the owner of Cayman Marl Road, scored another point in her ongoing legal battles with prosecutors this week when the Cayman Islands Court of Appeal overturned a 2020 conviction for online bullying and harassment. The ruling is not only significant for Hill, who should get back the $3,000 fine she was forced […]
CIG tightens virtual asset regime ahead of FATF review
(CNS): The Cayman Islands Government has now published two of the bills approved by Cabinet earlier this month, designed to further modernise the jurisdiction’s virtual asset regime ahead of the upcoming Financial Action Task Force (FATF) 5th Round Mutual Evaluation of the jurisdiction’s anti-money laundering, counter-financing of terrorism and counter-proliferation financing (AML/CFT/CPF) framework.
Cabinet begins work revising offshore legislation
(CNS): At its first Cabinet meeting held on 21 May, the new coalition government approved drafting instructions for a long list of amendments to laws and regulations, according to a summary of the meeting released by government officials on Wednesday. The bulk of the changes relate to financial services, though amendments were also approved for […]
RFHL makes bid for full takeover of CNB
(CNS): Republic Bank Trinidad & Tobago (Barbados) Limited (RBTTBL), which is owned by Republic Financial Holdings Limited (RFHL), is making a bid for ownership of the whole of Cayman National Bank. Last week, RFHL announced its intention to make an all-cash conditional offer to acquire all of the outstanding ordinary shares of Cayman National and […]
OfReg’s ‘solar bid’ was meant to replace CON
(CNS): CUC delayed submitting a certificate of need (CON) for more fixed generating power because OfReg had planned to solicit bids for an additional 22.5 MW of solar as an alternative in 2021. CUC told CNS that OfReg had accepted the alternative proposal and agreed it was more appropriate than a traditional CON. However, CUC […]
Cayman Islands could be future hub for AI business
(CNS): Recent research published by PwC found that, aside from transforming the world we live in, artificial intelligence could significantly boost global economic output and annual growth rates by at least a percentage point over the next decade, comparable to that of the 19th-century industrial revolution. And the firm’s team in Cayman believes this jurisdiction […]
