Financial Services
CIG still waiting on blacklist decision after EU trip
(CNS): After around 13 meetings with various European Union leaders and technocrats, as well as officials from direct member states, the Cayman Islands delegation led by the premier is still waiting to hear whether this jurisdiction has “passed muster” to prevent any more blacklisting. Premier Alden McLaughlin, accompanied by Financial Services Minister Tara Rivers, Attorney […]
New professional body still hoping for lawyers law
(CNS): The Cayman Islands Legal Practitioners Association, the new professional body created from the merger of the Cayman Bar Association and the Law Society that now represents all practising attorneys in Cayman, is still hoping that the long-awaited and much disputed Legal Practitioners Bill can be steered through the Legislative Assembly. Attorney Erik Bodden made the […]
Premier’s delegation begins Brussels meetings
(CNS): Premier Alden McLaughlin and the Cayman delegation he is leading to Europe began discussions on Monday with staffers from various EU commissions in Brussels about the blacklisting threats. The delegation began by meeting David Boublil, a member of the Cabinet of Pierre Moscovici, the Commissioner for Economic and Financial Affairs, Taxation and Customs; Gints […]
Industry rejects Dutch blacklist over low tax rate
(CNS): The decision by the Dutch government to publish its own subjective “blacklist”, which included the Cayman Islands because tax rates are lower than in the Netherlands, is unusual and ignores the facts, especially as Cayman has had a tax information exchange agreement (TIEA) in place with the Netherlands since 2009, according to the financial services industry […]
Premier back on the road in offshore fight
(CNS): Premier Alden McLaughlin left the Cayman Islands Wednesday, heading off on another UK-Euro-US trip to continue the work of keeping the jurisdiction from appearing on any more black-lists, as the fight to protect the financial sector here intensifies. McLaughlin, who has increasingly taken on the lead role in defending the offshore industry, despite having […]
OECD reps appear to give thumbs up to Cayman
(CNS): Government has revealed that two high-ranking representatives from the OECD Centre for Tax Policy and Administration were in the Cayman Islands last week, and they appear to have given the jurisdiction a thumbs up over its cooperation and new legislation regarding global tax issues. In a release from the financial services ministry, the centre’s […]
Cayman lands on Dutch tax haven blacklist
(CNS): As the Cayman Islands waits on confirmation that it has escaped blacklisting by the wider European Union, following the passage of new legislation just before Christmas, it has found itself on a new blacklist. Cayman is one of 21 jurisdictions on a list of low-tax jurisdictions released over the weekend by the Government of the […]
Minister seeks to reassure local traders
(CNS): Commerce Minister Joey Hew has said that amendments to the Local Companies Control Law, which were made to comply with the latest regulatory developments in the financial world and to keep Cayman from a European blacklist, will not undermine local traders. The amendments will remove the ban on exempted offshore companies from doing business […]
Premier agrees new offshore regime will boost population
(CNS): The offshore legislation that government steered through the Legislative Assembly on Monday to avoid being placed on the latest European Union blacklist will likely fuel population growth in the Cayman Islands, Premier Alden McLaughlin has told the Legislative Assembly, echoing recent statements by opposition MLA Chris Saunders. As he defended the eleventh hour bills, McLaughlin […]
Investment ministry to kick off with CI$3M budget
(CNS): Premier Alden McLaughlin has confirmed that the new ministry he promised at the start of this administration has been given the green light by the UK, and also that work to open the Cayman Islands Hong Kong office associated with the new government department has already begun. Speaking in the Legislative Assembly Monday, he […]
Offshore laws pave way to major population growth
(CNS): Chris Saunders, the opposition spokesperson on financial services, believes that government should have had a much more open and honest conversation with the people of the Cayman Islands about the draft laws coming before Legislative Assembly on Monday, which many say will turn the local financial industry on its head. Saunders told CNS that […]
