Simplicity is the ultimate sophistication

Crystal ball gazing is precarious at the best of times, but especially so in the current world economic environment. This does not stop people predicting the timing of the global economic recovery.

Cayman in the 2000s: Compliance

Long-time banker and former president of the Cayman Islands Bankers Association Eduardo D’Angelo Silva said that historically throughout the world, bankers didn’t feel a need to know their customers before the 90s.   “Bankers felt they weren’t policemen,” he said. “They felt it wasn’t a banker’s role to ask questions.”

The OECD and the increasingly

In light of the readily verifiable standard setting advances made by the Cayman Islands with respect to all crimes anti-money laundering and tax transparency, a recent outburst from Senator Dorgan on the floor of the Senate erroneously describing the Cayman Islands as a...

Long attention span needed

A popular TV show in the early nineties was “Short Attention Span Theater”. The title itself neatly parodied the growing culture of clips and sound bites to convey both news and entertainment and, sadly, this trend has continued. One result is that today many people obtain nearly all their financial information from television and internet sources, which deal with complex economic issues in a thirty second burst or a couple of pithy headlines.

Employment branding: A key factor in hiring and retaining talent

During turbulent economic times, a common and understandable reaction in the workplace is to institute cost-saving measures such as a hiring or pay freeze, reducing benefits or even, in the worst-case scenarios, making redundancies.

Squaring the circle

Although the discussion in Cayman over direct taxation has been put on the back-burner after the Cayman government received permission from the UK Foreign...

The Cayman Islands: A decade of challenges

 Like a long roller coaster ride, the decade of the 2000s brought Cayman’s financial industry ups and downs, thrills and screams, white knuckles and exaltation. 

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.

Night of the Living Dead

In many ways, some of our states are like General Motors before its bankruptcy, suffering from falling revenue, borrowing money to cover operating expenses and operating under crushing legacy health and pension liabilities. 

Regulatory excellence – Civil Aviation Authority of the Cayman Islands

The aviation industry has played a significant role in our islands’ development and will always be viewed as a major infrastructural component supporting our financial and tourism industries.

The more things change… the more they stay the same.

First to clarify the standing of this document in relation to the law. The Immigration Law, currently the 2009 Revision, is the final word on immigration matters in the Cayman Islands. Section 99 of the law authorises the Governor-in-Cabinet...

Cayman by numbers

    

Independent Commission against Corruption (ICAC)

The Independent Commission against Corruption (ICAC) of the Hong Kong Special Administrative Region (HKSAR) entered its 36th anniversary this February. After years of relentless efforts from the Government, graft fighters and the community ...

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.

Cayman’s prestigious ‘red ensign’: The flag flown ’round the world

One of the oldest organisations in these islands is the Cayman Islands Shipping Registry (CISR), established in the port of George Town in 1903. Through an aggressive programme of expansion, coupled with an international pool of skilled professionals who are backed by a state-of-the-art 24/7 technology platform, the Cayman Registry has grown to become the world’s ...

The OECD Anti-Bribery Convention – successes and future challenges

Bribing public officials to obtain advantages in international business raises serious moral and political concerns, undermines good governance and sustainable economic development and distorts international competition.

The best defence is a good offence

Both the US Congress and most of Europe took vacations at the end of the summer, bringing a temporary respite in most of the efforts by the American government, EU, OECD and many European governments; although American efforts to breach Swiss banking secrecy continued despite the August heat. Nonetheless, when congressmen and senators stagger back this fall from their mauling at the hands of constituents angry over soaring deficits and the proposed health care ‘reforms’, the proposed Stop Tax Haven Abuse Act, anti-offshore budget provisions...

Cayman Islands constitutional reform: A time for rebirth amidst the perfect financial storm?

Emerging as one of the leaders in the global financial offshore industry was no accident for the Cayman Islands. In fact, such good fortune was crafted from a very strategic union between private sector innovators and public sector movers and shakers at a time when all the Cayman Islands needed was an opportunity to grow.

CIFSA update

CIFSA has been actively promoting its revamped public affairs and public relations campaigns for what has been an eventful few months. The most notable...

CIMA report on CFATF progress

Main Article:THE FATF: Lower on the horizon but still relevantThe Cayman Islands Government and Monetary Authority updated the Caribbean Financial Action Task Force on...
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