The new U.S. administration under President Donald Trump has made its mark by resisting a compromise on trade, the environment and the support of the developing countries at the meeting of the finance ministers of the world’s 20 largest economies in Germany.
Golf champion Simon Hobday, the brother of Cayman HospiceCare’s medical director Dr. Virginia Hobday, passed away at the age of 76 after a battle against cancer on March 2. Mr. Hobday was known as much for his outstanding ball striking as his fun-loving, easygoing attitude.
Following the passage of three legislative amendment bills last week, Cayman will establish a centralized beneficial ownership platform by the June 2017 deadline agreed to with the U.K., government officials said in a media roundtable on Monday.
Butterfield increased net earnings by $38.2 million to $115.9 million in 2016. Core earnings for the full year were $138.6 million, an increase of $24.7 million compared to 2015, the banking group announced last week.
Caribbean Utilities Company, Ltd. posted full year 2016 net earnings of $25.2 million, a $2.4 million increase from 2015. Higher kilowatt-hour sales of 4 percent, lower consumer services expenses and finance charges and a 0.1 percent base rate increase on June 1, 2016 all contributed to the result."
New space tech developed by private companies will bring about transformational change that will influence business and our personal lives. A drop in the cost of space launches will not only make space more accessible for regular people, but also lead to a tremendous increase in space technology applications on Earth.
Ten months after international media reported the leak of 11 million documents related to 200,000 offshore companies set up by Panamanian law firm Mossack Fonseca, two partners of the firm have been arrested and charged with money laundering.
The European Data Protection Supervisor has concluded that proposed amendments to the EU Anti-Money Laundering Directive and efforts to widely share beneficial ownership data are not proportionate in their current form.
European Commissioner Pierre Moscovici at a meeting with Cayman Islands Financial Services Minister Wayne Panton in Brussels last week said he recognized the strength of Cayman’s tax transparency regime and its participation in the OECD’s base erosion and profit shifting inclusive framework, according to a press release from the Cayman Islands Government.
A Cayman Islands company that forms part of a joint venture structure in one of the largest Russian privatizations of state property since the 1990s potentially obscures some of the investors in the deal.
A team of expert assessors from the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes visited the Cayman Islands this month to conduct a peer review of the way Cayman applies the Global Forum’s international standards.
Officials from the Ministry of Financial Services and the Cayman Islands Monetary Authority held a second round of talks in Washington, D.C., in December about the danger of U.S. banks severing their business ties with banks in the Caribbean.
Cainvest Bank and Trust Ltd. has acquired the securities business of Dartley Bank and Trust Ltd. Bank Cainvest now controls 100 percent of Dartley Securities Ltd., a securities company regulated by the Securities Commission of the Bahamas.
Although 2016 was far from a breakout year for hedge funds, performance improved over a lackluster 2015, and managers have a more positive outlook for 2017 as stock markets are boosted by President-elect Donald Trump’s plans to lower taxes, deregulate and spend on infrastructure.
The German government has initiated draft legislation to prevent the use of “letter box companies in tax havens” to avoid tax. The draft bill was prompted by the Panama Papers revelations last year and approved by Cabinet on Dec. 21.
Since the Panama Papers revelations in April, the debate about anonymous shell companies and the importance of access to information about the true owners of companies, trusts and other entities has gained considerable traction.
Government has announced the start of a second public consultation period for the planned exchange of beneficial ownership information with foreign law enforcement and tax authorities through a centralized platform.