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Caribbean investment promotion agencies visit Nicaragua

March 29, 2014
MANAGUA, Nicaragua -- The Caribbean Export Development Agency (Caribbean Export), in collaboration with the Caribbean Association of Investment Promotion Agencies (CAIPA) and PRONicaragua, organized and executed a study tour to PRONicaragua in Managua, Nicaragua.

Cayman Islands tax system transparent and open for business, says premier

March 28, 2014
Cayman Islands tax system transparent and open for business, says premier LONDON, England -- In a special edition of BBC’s HARDtalk, Stephen Sackur spoke to Cayman Islands Premier Alden McLaughlin to reflect on Cayman’s past, present and future. A tax rate of zero has turned the Cayman Islands into one of the most scrutinised offshore financial domiciles in the world.

Cayman Islands conference calls for anti-corruption state agency

March 26, 2014
GEORGE TOWN, Cayman Islands -- At the close of the UCCI Caribbean anti-corruption and ethics conference last Friday, a declaration was issued that, amongst other proclamations, called upon Caribbean governments to consider, as a matter of priority, establishing an anti-corruption...

Bahamian motivational speaker conducts seminar for Cayman Islands Monetary Authority

March 26, 2014
Bahamian motivational speaker conducts seminar for Cayman Islands Monetary Authority GEORGE TOWN, Cayman Islands -- Master Motivator Spence Finlayson, Bahamian born, international motivational speaker, corporate trainer and author, recently conducted a motivational seminar for the management and staff of the Cayman Islands Monetary Authority in Grand Cayman, Cayman Islands.

Cayman Islands resort first Caribbean hotel to offer EV charge station

March 24, 2014
Cayman Islands resort first Caribbean hotel to offer EV charge station GEORGE TOWN, Cayman Islands -- The Reef Resort in Grand Cayman is now a part of the electric vehicle (EV) generation, becoming the first hotel in the Caribbean to offer a charge station for their guests and visitors who are driving or renting EVs. The fully automated ChargePro EV charge station...

Three indicted for Cayman Islands money laundering

March 21, 2014
Three indicted for Cayman Islands money laundering ALEXANDRIA, USA -- Two Cayman Islands residents and a Turks and Caicos Islands (TCI) attorney were arrested this week for money laundering under an indictment unsealed in the US District Court for the Eastern District of Virginia. Charged with three counts of money laundering...

Jamaica's opposition leader to speak at regional anti-corruption conference in Cayman Islands

March 11, 2014
GEORGE TOWN, Cayman Islands -- Andrew Holness, the leader of the parliamentary opposition of Jamaica and a former prime minister, will be speaking at the University College of the Cayman Islands (UCCI) Anti-Corruption Conference, which takes place March 19 – 21, 2014.

Cayman Islands government backs reinsurance industry

March 6, 2014
GEORGE TOWN, Cayman Islands -- Representatives from the Cayman Islands reinsurance industry will be in full force at the SIFMA Insurance and Risk Linked Securities conference in New York 4 – 5 March, speaking to delegates about the strength of the Cayman offering for...

Cayman Islands pioneers use of electrical vehicles in the region

February 24, 2014
Cayman Islands pioneers use of electrical vehicles in the region GEORGE TOWN, Cayman Islands -- A new way of using renewable energy sources in the region is being pioneered in the Cayman Islands by way of electric vehicles (EVs), with a view to long term economic and ecological sustainability. Cayman Automotive has reached an agreement with...

Cayman Islands captive insurance industry remains buoyant

February 15, 2014
GEORGE TOWN, Cayman Islands -- The Cayman Islands captive insurance sector remains buoyant in a testing environment, as 2013 maintained a steady pace following on from the phenomenal 2012 year of growth. The Cayman Islands secured a total of 39 licencees issued during the year.

British taxman wants details of Cayman Islands accounts 'within 30 days'

January 28, 2014
GEORGE TOWN, Cayman Islands -- UK taxpayers with undeclared income and capital gains held in the Cayman Islands must provide this information “within 30 days” or face “detailed investigation”, according to letters sent out by the British tax authorities. Cayman Islands banks will soon begin...

Former Cayman governor denies allegations of criminal misconduct

January 25, 2014
Former Cayman governor denies allegations of criminal misconduct GEORGE TOWN, Cayman Islands -- Former Cayman Islands governor, Stuart Jack, has denied allegations that he, along with two other senior officials, committed misconduct in public office, attempted to pervert the course of justice and lied to police. Jack’s denial comes on the heels of a new criminal complaint...

Cayman Islands to research local consumption of sea turtle meat

January 24, 2014
GEORGE TOWN, Cayman Islands -- The Cayman Islands government and the World Society for the Protection of Animals (WSPA) have held discussions on several key issues carried forward from meetings last year. It was agreed that turtle meat has huge cultural significance.

New criminal complaint filed against Cayman Islands officials

January 23, 2014
New criminal complaint filed against Cayman Islands officials GEORGE TOWN, Cayman Islands -- A former senior detective with London’s Metropolitan Police, who led a high-level corruption investigation in the Cayman Islands between 2007 and 2009, has filed a new criminal complaint against the territory’s current Attorney General Samuel Bulgin.

Head of global anti-corruption rating agency to open Cayman Islands ethics conference

January 21, 2014
GEORGE TOWN, Cayman Islands -- At least two Caribbean prime ministers are scheduled to attend the University College of the Cayman Islands’ Caribbean ethics and values conference in March. The head of the organisation that rates governments worldwide on anti-corruption...

Cayman Islands high financial rating and stable outlook maintained

January 17, 2014
GEORGE TOWN, Cayman Islands (GIS) -- Moody’s, one of the world’s foremost financial rating agencies, has maintained its very high rating of Aa3 for the Cayman Islands. The Cayman Islands has retained the Aa3 rating, and its accompanying stable outlook, continuously since 2000.

Cayman Islands launches public consultation on beneficial ownership of companies

January 16, 2014
GEORGE TOWN, Cayman Islands -- The government of the Cayman Islands is asking industry, clients and the general public for their input regarding the beneficial ownership of locally-registered companies. According to the Financial Services Secretariat, the purpose of the consultation...

Cayman Islands trade in services continues to be sole net foreign exchange earner

December 24, 2013
GEORGE TOWN, Cayman Islands -- Trade in services continued to be the Cayman Islands’ sole net foreign exchange earner in 2012. The Cayman Islands' Balance of Payments (Current Account) Report 2012 which summarizes the territory’s economic and financial transactions on...

Cayman Islands law firms to merge

December 20, 2013
GEORGE TOWN, Cayman Islands -- Two of the leading law firms in the Cayman Islands have agreed to merge early in the New Year. Travers Thorp Alberga and Paget-Brown will continue as Travers Thorp Alberga with Ian Paget-Brown QC assuming the role of counsel in the new company.

Facebook exports billion-dollar earnings to Cayman Islands

December 7, 2013
Facebook exports billion-dollar earnings to Cayman Islands GEORGE TOWN, Cayman Islands -- Social networking giant Facebook is facing criticism over its tax payments after filings revealed the company exported an estimated US$ 1 billion earned in the UK and other overseas markets to the Cayman Islands last year. According to the Guardian newspaper, Facebook uses...

Overseas territories set up high level troika

December 7, 2013
BRUSSELS, Belgium -- The Overseas Countries and Territories Association (OCTA) held its 12th ministerial conference in Brussels, Belgium, this week, where all 22 OCT political leaders gathered to support and approve the creation of a three-member board of chairs.

Cayman Islands and US sign FATCA agreement

November 30, 2013
GEORGE TOWN, Cayman Islands -- Building on more than a decade of cooperation in tax matters, the Cayman Islands and the US on Friday signed an agreement that paves the way for automatic exchange of tax information under US FATCA. The two governments also signed a new tax information...

Promoting jobs, economic growth and diversification in Britain's overseas territories

November 28, 2013
LONDON, England -- On Tuesday, UK ministers and overseas territory leaders met at the annual Overseas Territories Joint Ministerial Council in London and agreed an ambitious communiqué setting out steps to promote further opportunities for business, trade and investment in the territories.

British territories join OECD multilateral convention

November 28, 2013
JAKARTA, Indonesia -- At the recent annual meeting of the Global Forum in Jakarta, Indonesia, the Organisation for Economic Co-operation and Development (OECD) Multilateral Convention on Mutual Assistance on Tax and Administrative Matters was extended to seven British Territories.

Cayman Islands confirmed to key Global Forum position

November 27, 2013
GEORGE TOWN, Cayman Islands -- In addition to receiving a high ranking for its legislative and regulatory framework, the Cayman Islands has been confirmed as one of the vice chairs of the Peer Review Group, and retained its position on the Steering Group, of the Global Forum on...

FBI complaint names 12 Caribbean persons in alleged multi-million dollar fraud

November 14, 2013
BRIDGETOWN, Barbados -- A report by the Barbados Free Press on November 4, 2013, published the full text of what purports to be a complaint filed with the FBI by Sherene Mongroo in relation to the alleged theft of US$4 million from her late father’s estate, and names 12 Caribbean individuals and other entities...

IRS targets US taxpayers with offshore bank accounts in the Caribbean

November 14, 2013
NEW YORK, USA -- US District Judge Richard M. Berman of the Southern District of New York entered an order on Tuesday authorising the Internal Revenue Service (IRS) to issue summonses requiring five US banks -- Bank of New York Mellon, Citibank, Chase, HSBC and Bank of America...

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