Legislative changes proposed by the government in response to EU demands and other regulatory pressures will bring what appear to be significant changes for offshore companies that are tax resident in Cayman.
Better measurement of the economy and of people’s well-being could have led governments to respond more strongly to mitigate the damage caused by the 2008 financial crisis and reduce people’s continuing loss of trust in public institutions, according to a new report released by the Organisation for Economic Cooperation and Development.
Beneficial ownership, tax transparency and disaster management dominated the second and last day of the Joint Ministerial Council meeting between overseas territories officials and the U.K. government in London.
The two-day Joint Ministerial Council meeting between British Overseas Territories and the U.K. government began Tuesday at Lancaster House in London with welcome remarks from Cayman Islands Premier Alden McLaughlin, as president of the United Kingdom Overseas Territories Association.
Officials from the General Registry and the Ministry of Financial Services have met with local banks to address concerns over onerous banking requirements for charitable organizations, specifically in relation to problems experienced by nonprofit organizations to open bank accounts.
The Law Reform Commission has published a discussion paper on the foreclosure regime in the Cayman Islands, concluding that existing laws should be updated. In publishing the report, the commission is inviting comments from stakeholders and the general public on the issue.
The Cayman Captive Forum, Cayman’s largest conference with 1,485 registered delegates, and the largest captive insurance event in the world, kicked off Wednesday with the opening of its two-day main forum.
Republic Financial Holdings Ltd., the Trinidad-based company that is in the process of becoming the majority shareholder of Cayman National, announced that it has entered into an agreement to acquire Scotiabank’s banking operations in Guyana, St. Maarten and seven Eastern Caribbean territories.