Tag: European Union
Mangrove education gets €295k cash boost
(CNS): As more and more of the mangrove habitat across the Cayman Islands falls victim to the bulldozer, the Mangrove Education Project received a grant of €295,000 at the end of last year, which will help the long-running project expand and complete its new local school curriculum, the Cayman Islands Coastal Education Guide (CEG), which […]
Cayman receives EU grant to improve energy efficiency
(CNS): The Cayman Islands Government will be using a European Union grant of more than €1.2 million (around CI$1 million) to improve the energy efficiency of government buildings and National Housing Development Trust (NHDT) homes. The funds, awarded by the Resilience, Sustainable Energy and Marine Biodiversity Programme (RESEMBID), will be used by the new Cayman […]
More challenges ahead for offshore sector in EU
(CNS): The financial services industry in the Cayman Islands is bracing itself for another rocky year, as this jurisdiction could be included on the European Union’s list of high-risk third countries for money laundering that pose significant threats to the financial system of the Union.
EU drops Cayman from black-list
(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 […]
EU blacklist a ‘major worry’
(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 […]
Cayman’s efforts to avoid blacklist fails
(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 […]
UK politics in turmoil as MPs debate Brexit delay
(CNS): British politics remained in turmoil Thursday as MPs began debating a delay to leave the European Union on the scheduled date of 29 March after they voted against a ‘no deal’ Brexit in the House of Commons on Wednesday. But the series of votes yesterday led to more resignations and rebellions from Prime Minister […]
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 […]
Rivers heads to Brussels to keep Cayman off blacklist
(CNS): Financial Services Minister Tara Rivers is in Brussels this week with the aim of keeping the Cayman Islands from being blacklisted by the European Union at the end of this year over concerns about unfair tax practices. The Cayman government has been engaging with the financial services sector here and is currently drafting legislation to […]
CIG to meet EU and OECD on ‘economic substance’ issue
(CNS): Officials from the financial services ministry have confirmed that Cayman has been invited to a meeting with the European Union and the OECD, along with five other jurisdictions, on the latest European grey-list. The ministry said the informal voluntary meeting was to discuss the definition of economic substance in the financial services sector here, which […]
Cayman under new EU black-list threat
(CNS): As the UK government moves towards trade talks with the European Union as part of the Brexit negotiations, the British Overseas Territories, including Cayman, could be used as leverage and may be placed on the black-list that they recently avoided, according to a report in the Independent Sunday. Brussels is planning to demand that […]
