Tag: duty concessions

Angry Beach Bay residents rail against developers

Angry Beach Bay residents rail against developers

| 09/06/2022 | 135 Comments

(CNS): Residents in the Beach Bay area expressed their anger and frustration over a proposed major resort development in their quiet residential community when they came face to face with a representative for the overseas developers at a meeting Tuesday evening. The ever-changing hotel project by SJP Development first received planning permission in 2017 but […]

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PACT preparing new policy on duty waivers

PACT preparing new policy on duty waivers

| 30/05/2022 | 117 Comments

(CNS) The Cayman Islands Government is working on a new policy that is likely to upend the traditional approach to duty waivers and other concessions. Premier Wayne Panton told CNS that past administrations had given up revenue in exchange for jobs or to boost economic activity. But Cayman’s priorities have changed, he said, and PACT […]

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QC argues hospital case has no business in court

QC argues hospital case has no business in court

| 22/04/2022 | 50 Comments

(CNS): Doctors Hospital has brought an academic question to the court challenging the government’s deals with two medical tourism facilities but it has no standing to bring any legal case, Tom Hickman QC argued on Wednesday. The British lawyer has been hired by the Attorney General’s Chambers to respond to the judicial review brought by […]

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IT millionaire seeks winding up of 7MB resort

IT millionaire seeks winding up of 7MB resort

| 18/01/2022 | 145 Comments

(CNS): IT millionaire Jerry Beck, who successfully sued the developers of the Margaritaville Resort (now Palmar) on the West Bay Road, is seeking the winding up of MV Cayman Ltd, which owns the resort. Known as HHG Cayman Ltd when it redeveloped the Old Treasure Island Resort, MV Cayman Ltd is owned by Hugh Hart, […]

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Pageant Beach Hotel got CI$10M duty waiver

Pageant Beach Hotel got CI$10M duty waiver

| 21/10/2021 | 151 Comments

(CNS): Documents released by the finance ministry have revealed that the developers behind the proposed hotel on the Pageant Beach site in George Town were given a 100% duty waiver on the project for up to $10 million worth of goods. CNS has been battling for a year to get access, via a freedom of […]

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Environment fund lost $$$ on Beach Bay coastal works

Environment fund lost $$$ on Beach Bay coastal works

| 18/05/2021 | 44 Comments

(CNS): The Environmental Protection Fund is missing tens of thousands of dollars because the relevant coastal works fees for a proposed hotel were waived due to a concession deal between the developers and the Cayman Islands Government. The controversial Beach Bay project in the Lower Valley area, which has advanced very little over the six […]

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Dart gets waivers on decade old Ryan deal

Dart gets waivers on decade old Ryan deal

| 18/02/2021 | 67 Comments

(CNS): Fujigmo, a company once owned by Michael Ryan, the developer of the Ritz-Carlton, Grand Cayman, was still receiving duty concessions on golf carts and materials for the North Sound Golf Club a decade after the deal was signed with government relating to the SafeHaven development. Dart now owns the club, and although the original […]

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Local boutique B&B struggled for concessions

Local boutique B&B struggled for concessions

| 19/01/2021 | 63 Comments

(CNS): The local owner of The Cottages, a small boutique style B&B resort in East End, battled to get modest duty concessions for her development, even as some of Cayman’s wealthiest developers were getting concessions worth millions of dollars. During the course of Cayman News Services’s efforts to get government to release all of the […]

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Millionaire condo tower gets $8.2M waiver deal

Millionaire condo tower gets $8.2M waiver deal

| 05/01/2021 | 124 Comments

(CNS): The developer behind the WaterMark condo tower on Seven Mile Beach currently under construction, where units sell for close to US$10 million, has been granted CI$8.2 million in import duty waivers on all construction materials and equipment for its development until February 2023. Fraser Wellon is the developer behind this latest luxury development, which […]

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Closed resort was granted bundle of waivers

Closed resort was granted bundle of waivers

| 04/01/2021 | 79 Comments

(CNS): Developers behind the remodeling of the old Treasure Island resort into Margaritaville on the West Bay Road were granted a bundle of waivers, according to documents obtained by CNS in an ongoing freedom of information battle. HHG Cayman Ltd was granted over CI$1.7 million in duty concessions for building materials, furniture, fixtures, operating equipment […]

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Minister has no data on impact of concessions

Minister has no data on impact of concessions

| 21/12/2020 | 43 Comments

(CNS): The finance minister has admitted that no research has been done or data collected justifying the continued duty concessions on building materials in Grand Cayman and a host of other waivers on Cayman Brac. After delivering a statement in Parliament last week renewing various import and stamp duty cuts due to expire on 31 […]

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