Friday, December 14, 2018

Club advocates for local women in business

For more than 40 years, the Business and Professional Women’s Club of Grand Cayman has been working to create a better environment for local women and future members of the workforce.

Changes give new opportunities for the spouse of a Caymanian

According to documentation recently received from the Department of Immigration, there are approximately 350 expatriates holding Residency and Employment Rights Certificates (RERCs) as the spouse of a Caymanian. We expect this number will increase.

Cayman-based Real Vision looks to conquer financial media world

Real Vision founder Raoul Pal, who owns a house on Little Cayman, has ambitious plans for his firm, aiming for it to “disrupt” the media industry and replace outlets like CNBC as the financial journalism outlet of record.

Legally Speaking: Where justice requires confidentiality

The principle of open justice requires that justice must literally be seen to be done. But there are occasions when openness of court proceedings will be at odds with the requirements of justice.

Electric future: CUC plans radical shake-up of energy sources

Cayman’s energy market will need to see a radical transformation over the next two decades to meet the ambitious goals outlined in the first National Energy Policy passed last year.

Ironshore: Cayman’s nascent pharma giant

Cayman is globally renowned for its tourism and financial services, but is not known for having a pharmaceutical industry.

Offshore M&A deals drop; Cayman remains top center

The Cayman Islands saw more mergers and acquisition transactions than any other offshore jurisdiction in the first half of 2018, as the total value of Cayman deals increased by nearly 50 percent over the second half of 2017.

Immigration: Fewer ‘ghost Caymanians’ in the future?

The Immigration (Amendment) Law, 2018 came into effect on Aug. 13, 2018, and with it, new opportunities potentially present themselves for various categories of people in the Cayman Islands to obtain the Right to be Caymanian. This article explores two such changes.

Crown Dependencies consult industry on substance legislation

The governments of Jersey, Guernsey and the Isle of Man are asking businesses for their views on proposed new legislation that will require certain tax-resident companies to demonstrate they have sufficient substance.

New rules shake up anti-money laundering services

Cayman’s fund industry is facing significant changes under new regulations to fight money laundering and the financing of terrorism.

The changing landscape of litigation funding in Cayman

Businesses that litigate in the Cayman Islands courts have historically had few alternatives to the traditional funding model, i.e., paying a law firm a fixed hourly rate.

Trade tensions – unintended consequences

It is common rhetoric to describe U.S. President Donald Trump as a non-conformist. President Trump came out of the gate swinging, dismantling long-standing trade agreements and partnerships with neighbours, allies and the world’s second largest economy.

Tax problems for dual passport holders and ‘accidental Americans’

Despite all that’s been written about U.S. worldwide income taxation and complex informational reporting requirements, many individuals, particularly those living outside the U.S., remain noncompliant.

Cryptocurrencies no threat to financial stability, yet

Cryptocurrencies are currently not a threat to financial stability, according to the Financial Stability Board, a global regulator that advises the G-20 group of countries.

Gov’t plans public consultation on ‘economic substance’ changes

When late last year, Cayman avoided being placed on an EU tax blacklist by committing to remedy, before the end of 2018, what the EU called a lack of economic substance of Cayman-based entities, few knew what exactly the Cayman Islands government had promised to do.

Disaster Management: Hurricanes put Caribbean newsrooms to the test

A year on from the devastating 2017 hurricane season – one with 17 named storms, 10 hurricanes and six major hurricanes – many Caribbean and Gulf communities continue to recover.

Regulatory: OfReg battles 18 months of challenges

When the Utility Competition and Regulation Office, known as OfReg, was formed in early 2017, it was touted as a “one-stop shop” regulator for telecommunications, electricity, petroleum and water.

Economy: Time to say goodbye to Goldilocks?

It is widely reported that for much of the past decade, U.S. investors have enjoyed strong returns in balanced portfolios. When looked at in historical context, it becomes apparent that “strong returns” is actually an inadequate description. A balanced portfolio of 60 percent U.S. equities/40 percent 10-year U.S. treasuries has now gone just over nine years without a 10 percent drawdown in real terms, which has eclipsed the previous record set in the roaring 1920s. While returns have not been as strong as they were then, at 11 percent per annum versus 19 percent, many investors are now questioning how much longer there is left in this cycle.

Giving back: Driving donations

Island Heritage’s involvement in the community runs a spectrum of activities, but one of its most visible corporate social responsibility initiatives is its annual CharityDrive.

Giving back: Mentoring program inspires youth

The Chamber of Commerce’s youth-development initiative, Mentoring Cayman, has been inspiring Cayman’s youth since 2002 and matches high school participants with successful mentors in fields they are interested in.
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