Non-profits will avoid company fees in Cayman Islands under new law
As of Tuesday, 1 August, businesses that operate as charities can be categorised as non-profit organisations (NPOs), which will allow them to avoid substantial fees. The new Non-Profit Organisation Law, 2016, also forms part of Cayman’s preparations for the December…
Cayman Islands Attorney General issues update on Mutual Evaluation Preparations
The Attorney General’s Chambers today (Wednesday, 26 April 2017) released findings from the Cayman Islands first National Money Laundering and Terrorist Financing Risk Assessment (NRA). The main results of the assessment were released to the financial industry just ahead of…
The Cayman Islands: A very convenient truth in financial oversight
By Mary Barzee-Flores and Read McCaffrey, From Daily Business Review The Cayman Islands suffers from an undeserved bum rap. Many people automatically associate the Caymans with a haven for tax cheats and financial scams. However, the notion that the Cayman…
Caymanian lawyer supports Cayman Islands proposed Legal Practitioners Bill
Letter on behalf David Collins, Partner at Walkers I am writing to express my support for the passing of the Legal Practitioners Bill. As a Caymanian partner at a local law firm, I am concerned to ensure that we pass…
Cayman Finance urge movers of Private Member’s Motion to withdraw the motion
Cayman Finance statement in relation to the recent Private Member’s motion by Mr. Arden McLean and Mr. Winston Connolly In the context of the Private Member’s Motion, Cayman Finance strongly urges the movers of the motion and the other members…
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Cayman Islands Ministry of Financial Services, Commerce and Environment to present 11 bills
The Ministry of Financial Services, Commerce and Environment has prepared 11 bills to strengthen Cayman’s regulatory framework, introduce new financial services vehicles, and improve the local business environment. The bills will be heard at the next meeting of the Legislative…
Constructive dialogue on banking
By Sally Yearwood From Caribbean News Now On Monday, August 29, 2016, Caribbean News Now ran an article by Kenneth Rijock, entitled “US tells Haiti it will cut off money transfers in November if no reforms undertaken”. While one could…
Guyana poised for exit of CFAT, FATF monitoring
From GIS Guyana Guyana is set to be removed from the list of countries to be monitored by the Caribbean Financial Action Task Force (CFATF) and the Financial Action Task Force (FATF). According to Minister of Legal Affairs and Attorney…
Who rules from financial services rules?
By Sir Ronald Sanders From Caribbean360 FROM JULY 1 THE US FOREIGN ACCOUNTS TAX COMPLIANCE ACT (FATCA) WILL COMPEL FINANCIAL AND NON-FINANCIAL ENTITIES IN FOREIGN JURISDICTIONS, INCLUDING IN THE CARIBBEAN, TO SHARE INFORMATION WITH THE AMERICAN INLAND REVENUE SERVICE (IRS)…
Guyana disappointed at being “blacklisted” again
From Caribbean360 GEORGETOWN, Guyana, CMC – The Guyana government Thursday (May 29) night expressed its disappointment that the country had been placed on a list that urged the international community to take measures to protect their financial system from the…
