Cayman Enterprise City (CEC), the Cayman Islands’ award-winning special economic zone, today announces 2014 plans for a focus on global commodities companies seeking to curb escalating operational costs in order to become more profitable. CEC began the outreach in Canada this month by sending business development team members to the Prospectors and Developers Association Convention (PDAC) in Toronto, the mineral industry’s premier annual convention. CEC’s Global Business Development Manager Sheridan Robinson accompanied Ramesh Maharaj, a Partner with Walkers a leading Cayman Islands law firm.

“As a Canadian I am well aware of the significant impact of the mining industry to the Canadian economy,” she says, “Canada ranks first among producing countries, and is the largest exporter of minerals with more than 20% of production shipped to world markets. The opportunity to network at PDAC with so many leaders in the industry and ancillary businesses was invaluable to the development of our Commodities and Derivatives Park here in Cayman.”

In addition to networking and direct presentations at the convention, Robinson and Marharaj conducted a series of face-to-face meetings with mining companies and commodities companies, touting the jurisdiction’s and zone’s business advantages to international businesses looking to expand and become more competitive in the global arena. As other jurisdictions consider regulating physical trade, the Cayman Islands maintain an appropriately regulated environment, and through unprecedented concessions, the Cayman Government has empowered companies that establish in CEC to enjoy a more favourable bottom line.

It’s not just mining and commodity companies that can set up within CEC, but traders and trading houses as well and the encouraging news for traders operating from CEC is that they can be supported by Bloomberg, just as if they were trading back home in Toronto, New York, Chicago or wherever their home city may be.

Tim Crawford is the Caribbean Business Development/Relationship Manager at Bloomberg LP services clients within CEC and here’s what he has to say:

“Bloomberg provides specialized commodity data, analytics, news, and research to those who have a financial interest in the commodities market. We have a team of research analyst who can work with our clients to help identify trends in the market and provide direct client support with our frequent trips to The Cayman Islands. Companies setting up in CEC can now subscribe to our services”

Companies within CEC are given a zero-tax guarantee: no corporation tax, no sales tax, no capital gains tax and no import duties. Companies can retain 100% ownership, and because they can set up a genuine physical presence in Cayman they can generate tax-neutral active business income in this jurisdiction. Cayman Enterprise City offers a number of licensing packages that allow a company to quickly and efficiently set up and operate. The zone’s Client Relocation Team streamlines the licensing process through a dedicated government authority within 10 working days.

PHOTO: www.export-nigeria.com