Tag: EU black-list

Cayman faces new EU blacklisting

Cayman faces new EU blacklisting

| 04/01/2021 | 107 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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Consultation on financial sector bills ‘a charade’

Consultation on financial sector bills ‘a charade’

| 14/10/2020 | 55 Comments

(CNS): The financial services community is raising concerns that continuing changes to laws governing the sector are making Cayman less competitive. Industry experts are also accusing government of “a charade” and not fully engaging with them about the impact. Government has recently released a swathe of bills aimed at increasing oversight of records held by […]

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EU drops Cayman from black-list

EU drops Cayman from black-list

| 06/10/2020 | 40 Comments

(CNS): The Cayman Islands Government and the financial services sector were both breathing a sigh of relief, Tuesday, and not just because the islands dodged the path of a category 4 hurricane. The jurisdiction has been removed from the European Union’s black-list of non-cooperative jurisdictions, as hoped, after meeting the EU’s requirements regarding the supervision […]

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Offshore laws glide through LA

Offshore laws glide through LA

| 13/07/2020 | 11 Comments

(CNS): Financial Services Minister Tara Rivers has steered another batch of legislation through the parliament with the backing of the opposition as well as the government benches. The changes regarding private funds clarified the rules and are expected to help Cayman get off the EU blacklist. Speaking in the Legislative Assembly, Rivers said government had […]

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EU blacklist a ‘major worry’

EU blacklist a ‘major worry’

| 12/05/2020 | 78 Comments

(CNS): With the COVID-19 pandemic decimating the tourism sector in the Cayman Islands for at least the rest of this year and probably well beyond, financial services will be the main driver for any economic recovery as the country emerges from lockdown. But Premier Alden McLaughlin said that Cayman must be removed from the European […]

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Cayman faces long wait to get off EU blacklist

Cayman faces long wait to get off EU blacklist

| 18/02/2020 | 128 Comments

(CNS): As expected, following warnings last week the Cayman Islands was added to the European Union’s list of non-cooperative jurisdictions regarding tax issues on Tuesday. It seems the jurisdiction will now have to wait until October before it gets off this list, which it has apparently landed on due to the tardiness in passing a […]

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Cayman’s efforts to avoid blacklist fails

Cayman’s efforts to avoid blacklist fails

| 12/02/2020 | 177 Comments

(CNS): Despite passing a raft of laws in the Legislative Assembly to avoid being blacklisted by the European Union, it appears that the Cayman Islands will be added to the EU’s list of jurisdictions with lax standards for financial crime. The Financial Times has reported that while both Cayman and the British Virgin Islands were […]

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Cayman dodges tax list but pressure persists

Cayman dodges tax list but pressure persists

| 12/03/2019 | 13 Comments

(CNS): The Cayman Islands government has welcomed the news that this jurisdiction has avoided the latest European Union tax blacklist, but officials have indicated that the pressure is still on as the EU continues to express further concerns about economic substance requirements for collective investment vehicles (CIVs), otherwise known as funds, and one of the […]

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Cayman dodges EU tax list as Bermuda added

Cayman dodges EU tax list as Bermuda added

| 12/03/2019 | 31 Comments

(CNS): The European Union has added ten more countries to its blacklist of what it considers to be tax havens and the Cayman Islands is not included. Following the passage of legislation at the end of last year to meet the demands of European leaders, the government had been confident that Cayman would avoid the […]

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CIG still waiting on blacklist decision after EU trip

CIG still waiting on blacklist decision after EU trip

| 18/01/2019 | 8 Comments

(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 […]

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Premier’s delegation begins Brussels meetings

Premier’s delegation begins Brussels meetings

| 14/01/2019 | 15 Comments

(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 […]

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