Tag: Cayman Finance

Cayman faces new EU blacklisting

Cayman faces new EU blacklisting

| 04/01/2021 | 106 Comments

(CNS): The European Parliament is planning a new blacklist of tax havens and the Cayman Islands appears to be at the heart of the move. While local political leaders here have made much of the efforts last year to get this jurisdiction removed from the existing blacklist, MEPs believe the removal of Cayman from it […]

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Cayman Finance floats option to contentious bills

Cayman Finance floats option to contentious bills

| 10/11/2020 | 29 Comments

(CNS): Cayman Finance has proposed an alternative approach to the amendments government plans to make to several laws in order to address compliance issues regarding transparency of accounting records for offshore service providers. The list of bills stirred up controversy with stakeholders when they were circulated to industry players, raising alarm that they posed a […]

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Offshore raises $124k for food bank van

Offshore raises $124k for food bank van

| 06/05/2020 | 8 Comments

(CNS): The local food bank was already stretched supporting families here in dire need of food before the COVID-19 pandemic hit. But since then the poverty and vulnerability of many people has been exacerbated by the measures taken to suppress the virus. As a result, Cayman’s Good Samaritan Food Bank welcomed $124,000 raised by the […]

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Cayman Finance says sector keeping economy going

Cayman Finance says sector keeping economy going

| 27/03/2020 | 46 Comments

(CNS): Officials from Cayman Finance are reminding the community of the offshore sector’s importance to the country during the current COVID-19 health crisis. This comes after Premier Alden McLaughlin recently implied that the financial sector had been less than cooperative over efforts to shut down offices here and implement a ‘stay in place’ order rather […]

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Offshore sector scrambles to repair damage

Offshore sector scrambles to repair damage

| 19/02/2020 | 82 Comments

(CNS): Various major law firms have issued advisories and statements to clients over the last two days after a pretty bad day on Tuesday for the Cayman Islands’ reputation on the global financial stage. Cayman was blacklisted by the EU because government missed a deadline it was well aware was approaching, and then topped the […]

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Cayman develops online AML learning platform

Cayman develops online AML learning platform

| 11/02/2020 | 11 Comments

(CNS): As part of continuing efforts by the Cayman Islands to fill gaps in its regime dealing with financial crime identified by the Financial Action Task Force (FATF) and avoid potential black-listing, the government, with support from Cayman Finance, has developed online learning modules relating to anti-money laundering, countering terrorist financing, and countering proliferation financing […]

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Premier makes most of NY trip

Premier makes most of NY trip

| 24/01/2020 | 57 Comments

(CNS): As Grand Cayman’s dump ignited with one of its worst blazes in years and government’s lawyers were in court arguing that the cruise port referendum law was fine, Premier Alden McLaughlin and his delegation were enjoying a visit to New York this week. The trip to Manhattan was to promote the offshore services sector […]

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Cayman fighting tax evasion, Rivers tells New Yorkers

Cayman fighting tax evasion, Rivers tells New Yorkers

| 24/01/2019 | 14 Comments

(CNS): Financial Services Minister Tara Rivers told an audience in New York this week that the Cayman Islands had been doing good work in the fight against tax evasion, money laundering and countering terrorist financing, as she delivered an address at the 6th Annual Cayman Finance New York Breakfast Briefing at the Harvard Club. The Cayman delegation had opted […]

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Governor heads to NY to support offshore

Governor heads to NY to support offshore

| 20/01/2019 | 18 Comments

(CNS): Governor Martyn Roper is travelling to New York Monday to join the delegation led by Premier Alden McLaughlin in an effort to promote the Cayman Islands’ financial services sector in the face of growing pressure and show his support for this important economic pillar, even though some of that pressure is coming from the […]

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Industry rejects Dutch blacklist over low tax rate

Industry rejects Dutch blacklist over low tax rate

| 10/01/2019 | 15 Comments

(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 […]

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New laws to shake up offshore sector

New laws to shake up offshore sector

| 07/12/2018 | 43 Comments

(CNS): Government has unveiled three new bills that will result in fundamental changes to the way some exempted companies do business in the Cayman Islands. Just weeks before the European Union’s deadline for offshore financial centres to address requirements over what it sees as unfair tax practices in order to dodge the latest black-list, Financial […]

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