What Britain expects of Mr Carney

It is fortunate that Mark Carney, who moves from the governorship of the Bank of Canada to that of the Bank of England in July 2013, is no stranger to political minefields.   


The biggest friction in the modern economy

A key component of modern economic theory is production theory. Production theory is the study of the economic process of converting inputs into outputs. Production uses resources to create goods or services that are then sold in the market, explained by the supply and demand theory.


Cayman Finance: The way forward

  The appointment of Richard Coles in April as the chairman of Cayman Finance marked not only a new chapter in the organisation but also a renewed commitment to developing a closer working relationship with the Cayman Islands government.

Cayman’s captives continue impressive growth

Cayman Finance Read our article in the Cayman Financial Review Magazine, eversion Since 2000 the number of captives in the Cayman Islands grew by over 43...

Efficient capital flows

Economists, of which I confess to be one, always create models based on a number of assumptions to explain behaviours of the markets. So far so good right? But the problem is more often than not these assumptions are beyond the realm of the possible, and due to a failure to create better models, we end up accepting the only available models and forget the assumptions on which it was built.


New OECD review praises Cayman, but misconceptions continue

In a further affirmation of the Cayman Islands’ compliance with international standards of transparency and tax information exchange, a new report points to the jurisdiction’s continuing improvements. 

The arrival of FATCA

On 15 March, 2013, the Cayman Islands government announced its intention to sign an agreement with the United States authorities to adopt a Model 1 Intergovernmental Agreement (IGA) in response to the US Foreign Account Tax Compliance Act.   


Cayman Finance Update

Having achieved White List status in August 2009 after signing its 12th Tax Information Exchange Agreement with New Zealand, the Cayman Islands has since signed its 14th bilateral TIEA in October, this one with the Netherlands, in an attempt to stay ahead of the OECD’s shifting goalposts.

IFCs – governance, regulation and compliance

International Financial Centers have been in the spotlight for quite some time now. The media’s often negative focus tends to be on those that...


Politicians in the U.S. have brought their campaigns to a new low by calling each other unpatriotic for using the Cayman Islands. Few of them remain fully insulated from the “Cayman benefits” - even those insulting other candidates without doing their homework.


What does Cayman Finance actually do?

The boom years in Cayman perhaps made it too easy to ignore rumblings from uninformed pro-high tax journalists and politicians. The flow of business during those times turned to a flood as Cayman took a dominant position as a domicile for offshore funds, debt structures, corporate structures and trusts.

What the US elections mean for taxes

Now that the US election is over, the focus in Washington has moved to the US’s budget deficit and its “fiscal cliff”. At press time, it’s uncertain whether the US will jump off of the cliff, or find a solution which involves restructuring taxes and spending.   


Trim the sails, hold a steady course

The word of the day is regulation. How could it not be? The formidable PR machines of the EU and US governments tell us so. Basel III, we are told by a triumvirate of US regulators, provides a “more stable banking system less prone to excessive risk”.
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