Cayman Enterprise City to Partner with US Firm to Reach Out to Biotech Companies at Boston Conference

Partnership exemplifies outreach programme initiated to market Cayman’s Special
Economic Zone to the world

Grand Cayman, Cayman Islands 10th April 2015 – Cayman Enterprise City is teaming up with US channel partner Intellectual Resources Corp. (IRC), a leading provider of strategic intellectual property advisory services, to target the biotechnology industry at the 2015 Bio-IT World Conference & Expo in Boston, MA on April 21 – 23, 2015. The expo brings together more than
3,000 life sciences, pharmaceutical, clinical, healthcare, and IT professionals from 32 countries and gives them the opportunity to share information and discuss enabling technologies driving biomedical research and drug development. CEC’s Rachelle Peterson, a global business development manager, will travel to Boston where she will be joined by Ben Taylor, an executive with channel partner (IRC) from the firm’s Boston office. They will work together to promote the benefits of Cayman’s award-winning special economic zone and as a team try to attract businesses to the Cayman Islands.

“We are looking to expand CEC’s biotechnology & IT parks at the conference, and Boston is the perfect city because it is one of the top biotech hubs in the U.S. This will provide us with the opportunity to network and tap into that region/market outside of the conference as well,” said Ms. Peterson.

Peterson and Taylor will staff an exhibit booth to distribute zone information and promote Cayman’s jurisdiction as the perfect near-shore solution for biotechnology companies looking to expand globally. A leading international financial center with a robust legal system under British Common Law, Cayman is a stable British Overseas Territory with a pro-business government. Cayman Enterprise City offers a fast-track business licensing and work/residency visa process with a number of licensing packages − from affordable one-person startups, to packages for larger companies needing to relocate several staff.

CEC’s corporate relocation team facilitates the set up process so companies can quickly and
cost-effectively establish mind and management in Cayman. Zone clients take advantage of the jurisdiction’s tax-free environment, allowing them to be more competitive in the global marketplace. CEC clients can generate tax-exempt active business income in the Cayman Islands, and they also enjoy 100% exemption from corporate, capital gains and sales taxes, and their intellectual property being housed offshore.

The combination of the zone’s unique structure and the processes and expertise of Intellectual Resources Corp. enables companies to fully realize value from active IP management. Peterson and Taylor have also scheduled a series of private meetings with potential clients and law firms in the Boston area in the days surrounding the biotech conference. Plans are also being made for a private Cayman Islands reception to be hosted by CEC and IRC. Peterson is excited about the prospect of working with CEC’s channel partner in the region.

“Given that most Biotech and IT companies either already have their own IP, or are considering developing it, IRC has generously offered to collaborate with us for business development in the Boston area,” she said. “Establishing a strategy for a company’s offshore IP is fundamental in relocation and growth, so with the help of IRC we hope to be able to offer prospective clients a complete service offering.”

Cayman Enterprise City has established a vast worldwide network of channel partners, like Intellectual Resources Corp, in its aggressive marketing effort to expand the zone’s reach in vital markets. The Cayman government granted the zone concessions to draw international companies from five high-tech sectors; internet and technology, media and marketing, biotechnology, commodities and derivatives, and academia.

Among the benefits offered by Cayman Enterprise City is proximity to the US – Cayman is an hour’s flight from Miami and 3 ½ hours from New York City. Cayman is a safe, upscale destination that offers a great lifestyle with excellent schools, world-class restaurants and medical facilities. The islands are also in the Eastern Time Zone making it an excellent near-shore destination for doing business.

Companies planning to be at the Bio-IT conference or located in and around Boston are invited by CEC to schedule a meeting or join their private reception. To schedule a meeting or to get more information about their services, please email [email protected].

About Cayman Enterprise City
Cayman Enterprise City is an award-winning Special Economic Zone located in the Cayman Islands, focused on knowledge-based industries, technology companies and specialized services businesses. With a dedicated Government Authority and guaranteed fast-track processes, international companies can quickly and efficiently establish a genuine physical presence in the Cayman Islands. This enables businesses take advantage of Cayman’s jurisdictional benefits which include exemption from corporate tax, income tax and capital gains tax, along with a raft of special zone concessions and incentives. These concessions were designed to attract international companies from five specific high-tech sectors; internet and technology, media and new-media ventures, biotechnology, commodities and derivatives, and academia.