News

Pros and cons of an iconic tower for Cayman
News, Opinion

Pros and cons of an iconic tower for Cayman

I know I promised an article on volumetrics this month, but following recent discussions on Dart’s proposal to build a skyscraper tower, I thought I would look at this subject (in the meantime we are busy gathering information for an article on volumetrics next month). The tower proposed will be similar perhaps to the 160-storey Burj Khalifa in Dubai or the former 104-storey World Trade Centre in New York. Plans to create a new skyline for Grand Cayman recognisable the world over were first unveiled by Premier McLaughlin at this year’s Cayman Economic Outlook conference, and have been the subject of a lot of discussion ever since, including at the Chamber of Commerce’s Economic Outlook event.

News

Cayman-sponsored driver wins British F3 race

Josh Mason, who spent much of his childhood in the Cayman Islands, won his first race of the year in his RE/MAX Bovell Team-sponsored F3 race car at the second British F3 Race at Donington Park in the United Kingdom on 23 June.

Stick with one agent when buying a property at Cayman Islands
Featured, News

Changes in Stamp Duty – what it means for buyers

By the end of this year the Government will close the loophole in the law that allows buyers to only pay Stamp Duty on the cost of the land on which their property will be built, should construction not yet have started and not again later on once the property has been completed (the so-called two-contract transaction).

Economic substance rules can be great for Cayman Islands
News

Economic substance rules can be great for Cayman Islands

In March the Cayman Islands avoided being placed on the European Union’s blacklist of countries which are, what they term, uncooperative when it comes to their tax practices; however, we have been placed on a grey list which means we must pass laws to ensure that companies in Cayman meet the EU’s economic substance rules. This means companies domiciled in the Cayman Islands must show a physical presence here, in terms of staff and offices.

Population growth means growth for our islands
News, Opinion

Cayman already geared up to take on board new economic substance rules

The issue of economic substance is not a new one for the Cayman Islands, as the subject was much talked about some years ago and this was a motivating factor in the development of the Cayman Enterprise City project. As a result, Cayman passed its Cayman’s Special Economic Zones Law in 2011. Businesses located within CEC have been growing steadily in numbers since it first opened its doors to the likes of technology, media, intellectual property, shipping, aviation, commodities and derivatives trading businesses that wanted to establish a physical presence in a tax-neutral jurisdiction such as ours while meeting globally recognised economic substance requirements.