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EU drops Cayman from black-list
EU drops Cayman from black-list
European Union Commission building in Brussels
(CNS): The Cayman Islands Government and the financial services sector was breathing a sigh of relief Tuesday, and not just because the islands dodged the path of a category 4 hurricane. The jurisdiction has been removed from the European Union’s black-list of non-cooperative jurisdictions, as hoped, after meeting the EU’s requirements regarding…
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Offshore laws glide through LA
Offshore laws glide through LA
Financial Services Minister Tara Rivers presenting the bills to the LA
(CNS): Financial Services Minister Tara Rivers has steered another batch of legislation through the parliament with the backing of the opposition as well as the government benches. The changes regarding private funds clarified the rules and are expected to help Cayman get off the EU blacklist. Speaking in the Legislative…
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EU blacklist a 'major worry'
EU blacklist a ‘major worry’
European Union Commission building in Brussels
(CNS): With the COVID-19 pandemic decimating the tourism sector in the Cayman Islands for at least the rest of this year and probably well beyond, financial services will be the main driver for any economic recovery as the country emerges from lockdown. But Premier Alden McLaughlin said that Cayman must be removed from the European Union black…
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Cayman faces long wait to get off EU blacklist
Cayman faces long wait to get off EU blacklist
European Union Commission building in Brussels
(CNS): As expected, following warnings last weekthe Cayman Islands was added to the European Union’s list of non-cooperative jurisdictions regarding tax issues on Tuesday. It seems the jurisdiction will now have to wait until October before it gets off this list, which it has apparently landed on due to the tardiness in passing a crucial piece of…
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Cayman's efforts to avoid blacklist fails
Cayman’s efforts to avoid blacklist fails
(CNS): Despite passing a raft of laws in the Legislative Assembly to avoid being blacklisted by the European Union, it appears that the Cayman Islands will be added to the EU’s list of jurisdictions with lax standards for financial crime. The Financial Timeshas reported that while both Cayman and the British Virgin Islands were both on a ‘grey list’ and up for review this month, Cayman has become…
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Cayman dodges tax list but pressure persists
Cayman dodges tax list but pressure persists
Valdis Dombrovskis, European Commission VP
(CNS): The Cayman Islands government has welcomed the news that this jurisdiction has avoided the latest European Union tax blacklist, but officials have indicated that the pressure is still on as the EU continues to express further concerns about economic substance requirements for collective investment vehicles (CIVs), otherwise known as funds, and one…
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Cayman dodges EU tax list as Bermuda added
Cayman dodges EU tax list as Bermuda added
(CNS): The European Union has added ten more countries to its blacklist of what it considers to be tax havens and the Cayman Islands is not included. Following the passage of legislation at the end of last year to meet the demands of European leaders, the government had been confident that Cayman would avoid the latest list of what the EU deems non-cooperative jurisdiction in terms of…
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CIG still waiting on blacklist decision after EU trip
CIG still waiting on blacklist decision after EU trip
Premier Alden McLaughlin, Minister Tara Rivers, Attorney General Sam Bulgin with Gael Perraud (CLICK TO ENLARGE)
(CNS): After around 13 meetings with various European Union leaders and technocrats, as well as officials from direct member states, the Cayman Islands delegation led by the premier is still waiting to hear whether this jurisdiction has “passed muster” to prevent any more blacklisting.…
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