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EU tells Johnson to decide as time runs out for Brexit deal

British and European Union negotiators made a last-ditch effort on Monday to bridge stubborn differences standing in the way of a post-Brexit trade deal.

EU pushes UK to budge at ‘critical stage’ in Brexit talks

The EU on Tuesday demanded "substantive" movement from Britain on fisheries, dispute settlement and guarantees of fair competition in their post-Brexit trade talks, which Germany said were at a "critical stage".

EU and Britain far apart as key week of Brexit talks begins

The European Union and Britain both said a post-Brexit deal was still some way off and differences persisted on Monday over putting in place their earlier divorce deal as they began a decisive week of talks in Brussels.

Wealthy Britons step up citizenship shopping to thwart Brexit

The number of British entrepreneurs looking to "buy" citizenship from countries offering visa-free access to the European Union has risen sharply, investment migration firms say, as prospects of a post-Brexit trade deal between Britain and the bloc darken.

Premier: EU blacklist remains concern

Premier Alden McLaughlin has said the European Union’s blacklisting of the Cayman Islands remains “a source of major worry and concern” especially with the economy now heavily reliant on the Financial Services industry.

Opposition: Cayman needs to fight blacklist

Opposition lawmakers expressed concern over reports that European Union ambassadors have recommended the Cayman Islands be blacklisted as a non-cooperative tax jurisdiction.

Out in the Open

Cayman Finance supports government’s intention to introduce a public register of beneficial ownership, when such registers become the norm under international standards.

Cayman commits to public beneficial ownership register

The Cayman Islands will make the true owners of companies incorporated in the islands public as soon as European Union countries establish their own public registers. Corresponding legislation is expected to be introduced in 2022.

Boris Johnson wins race to become UK’s next prime minister

Brexit hard-liner Boris Johnson, one of Britain’s most famous and divisive politicians, won the race to lead the governing Conservative Party on Tuesday, and will become the next prime minister on Wednesday.

EU removes Dominica from tax blacklist

The European Union has removed the Caribbean island of Dominica from its list of uncooperative jurisdictions in tax matters.

Bermuda taken off EU tax blacklist

The European Union on Friday removed Bermuda, Aruba and Barbados from its list of uncooperative jurisdictions in tax matters.

Jessop: Repositioning the Caribbean’s relationship with Europe

In just under a week’s time voters from across the whole of the European Union will go to the polls to elect a new European Parliament.

Tharoor: EU’s ethnonationalist surge

Like President Trump and ultranationalists elsewhere, Salvini promises to put ‘Italians first’. And he marshals local resentment towards the policies of the European Union, railing against its cosmopolitan bureaucrats and what he calls rapacious bankers.

Bermuda to be removed from EU blacklist

European Union finance ministers are set to remove Bermuda, Barbados and the Dutch Caribbean island of Aruba from its tax blacklist on Friday, according to an unnamed EU official cited by Reuters and Bloomberg News.
Cayman Compass is the Cayman Islands' most trusted news website. We provide you with the latest breaking news from the Cayman Islands, as well as other parts of the Caribbean.

Jessop: CARIFORUM-UK EPA offers new opportunities

A few days ago, the British government published the text of the CARIFORUM-UK Economic Partnership Agreement (UK EPA) that will govern trade in goods and services with the Caribbean, assuming Britain leaves the European Union sometime later this year.
An aerial view of the business area of downtown George Town, Grand Cayman

EDITORIAL – The true experts in global finance are here at home

Cayman’s exclusion from the latest European Union tax blacklist gives little cause for celebration, coming as it does with significant strings attached.

May Day: UK Parliament rejects prime minister’s Brexit deal

Britain’s Parliament delivered a crushing defeat to Prime Minister Theresa May’s European Union divorce deal Tuesday, plunging the Brexit process into chaos just 17 days before the U.K. is due to leave the bloc.
An aerial view of the business area of downtown George Town, Grand Cayman

Cayman avoids EU blacklist

The European Union has not added the Cayman Islands to an expanded EU tax blacklist, but the council of EU finance ministers said Cayman will have to amend its legislation by the end of this year.

EU countries reject commission’s blacklist

European Union governments are set to block the European Commission’s draft dirty money blacklist after all 28 EU member states objected to the way countries were selected for their alleged anti-money laundering deficiencies.
Cayman Compass is the Cayman Islands' most trusted news website. We provide you with the latest breaking news from the Cayman Islands, as well as other parts of the Caribbean.

Government issues economic substance guidance

Government has published a guidance booklet to help companies comply with the territory’s economic substance legislation, which was passed by legislators last year in an attempt to avoid European Union tax blacklisting.

UK lawmakers vote for Brexit changes

The European Union says that the current agreement with the U.K. remains the “best and only way” to ensure an orderly Brexit, after British Prime Minister Theresa May vowed to try to overhaul the deal.

UK Parliament overwhelmingly rejects May’s Brexit deal

British lawmakers on Tuesday overwhelmingly rejected Prime Minister Theresa May’s divorce deal with the European Union, plunging the Brexit process into chaos.

Cayman delegation meets with EU finance officials

Cayman politicians are meeting with officials in Brussels this week regarding Cayman’s future status in terms of how its tax laws are seen by the European Union.

EU and UK pile pressure on financial services industry

The year 2018 came to a close just like the previous year ended: with Cayman attempting to stave off a blacklisting by the European Union.
An aerial view of the business area of downtown George Town, Grand Cayman

Letter: Dutch blacklist and Cayman’s policy of EU ‘appeasement’

The difficulty of attempting to deal with the EU and the OECD in relation to their ridiculously entitled ”harmful” tax practices initiative, whether through the introduction of economic substance legislation or howsoever, is well illustrated today by that paragon of tax avoidance techniques The Netherlands which, when I last looked, was a member of the EU, now introducing its independent “black list” including the Cayman Islands.

EDITORIAL – Unwrapping government’s ‘Christmas gifts’

On a per-minute basis, this week’s sitting of the Legislative Assembly could be the most impactful gathering of lawmakers in Cayman Islands history. For better or worse.

Legislators approve new economic substance rules

Government pushed through new economic substance rules and other bills during a marathon Legislative Assembly session on Monday in a bid to avoid a European Union tax blacklisting.

EDITORIAL – 11th-hour scramble to push through ‘blacklist bills’

We draw no comfort from the ministry’s claims that the bills have been subjected to in-depth consultation with Cayman’s financial services industry, local regulators, the EU and OECD. Assuming those discussions took place, they took place behind closed doors – out of sight, and earshot, from either Cayman’s public or stakeholders who were not selected by the government for consultation.

May survives vote of no confidence

British Prime Minister Theresa May survived a brush with political mortality Wednesday, winning a no-confidence vote by Conservative lawmakers that would have ended her leadership of party and country.

Legislative Assembly to debate economic substance bills on Monday

The Legislative Assembly is set to reconvene on Monday to pass three separate bills caused by the threat of a European Union tax blacklisting and global regulatory pressure.

Eric Bush to leave Cayman’s London office

Eric Bush, the Cayman Islands government representative in London, plans to leave the foreign post and return home this summer.
An aerial view of the business area of downtown George Town, Grand Cayman

Government proposes substance tests for offshore businesses

Government has released draft legislation that will have far-reaching consequences for parts of the offshore finance industry in the Cayman Islands.

London talks end on financial services, disaster management

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.

EU seals Brexit deal; May faces hard sell at home

After months of hesitation, stop-and-start negotiations and resignations, Britain and the European Union on Sunday finally sealed an agreement governing the U.K.’s departure from the bloc next year.

Golden visa programs the latest target of regulators

Citizenship by investment and residency by investment schemes are the latest targets of regulators and advocacy groups, as three reports by Transparency International, the OECD and the Green Party in the European Parliament all highlighted abuses of the programs in both Europe and the Caribbean.

Britain, EU decide to take additional time to get Brexit right

Leaders from the European Union and Britain shrugged off a weekend negotiating debacle and previous deadlines Wednesday, giving themselves several more weeks to clinch a friendly divorce deal ahead of their separation.

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