Topic: fees

Finance Minister Rolston Anglin has defended government’s multi-million dollar package of fee increases and insisted they will not significantly impact the cost of living in Cayman.

A new pay-scale has been introduced for HSA board directors after they racked up almost half-a-million dollars in stipends in 18 months.

Minister for Finance and Economic Development, Rolston Anglin, revealed significant increases to a wide-range of fees paid by foreign individuals and companies.

Perhaps Cayman should, in the current good years, run a surplus of cash from financial services taxation, invest this surplus wisely, and use the accumulated wealth to support itself if or when the geopolitical winds change.

Financial Services Minister André Ebanks has come to the defence of the ongoing consultation process and proposed increased fee regime saying that his ministry was supporting Government’s budget policy statement.

In a recent US court decision, real estate associations were found to be conspiring to fix commission rates, limiting consumer choice in a competitive market. This ruling may significantly impact the way homes are bought and sold in the United States and could also have consequences for the real estate market in the Cayman Islands, where similar rules are in place.

Government is reducing the registration fees for exempted limited partnerships that are registered with the Registrar of ELPs within General Registry and regulated by the Cayman Islands Monetary Authority. The Exempted Limited Partnership (Amendment) Regulations, 2020 were gazetted on Friday, 22 May and took immediate effect.