business Archives - Crownworld

Limited Liability Company Arrangement for the Cayman Islands

A limited liability company arrangement has been approved by lawmakers as a new type of business vehicle for the local financial services industry in the Cayman Islands.

The bill will make Cayman the first Caribbean overseas territory to implement a limited liability company, or LLC, arrangement.

“It is certainly a very exciting development for the financial services industry,” Financial Services Minister Wayne Panton told Legislative Assembly. “In five years, this legislation … will be viewed as an iconic product in the Cayman Islands.”

The Limited Liability Companies Law will “complement,” not replace, existing Cayman Islands business vehicles, he said. The designation allows the LLC firm to use the quicker, “more flexible” accounting rules of a partnership but provide a legal designation of an entity as a corporation. It is essentially a mix of Cayman’s current rules for an exempted company and an exempted limited partnership. (more…)

Robert McCrimmon May 17, 2016 Blogbusiness, Cayman Islands, Finance Read more >

Cayman Enterprise City Campus Gets Zoning Approval.

A 70-acre site in South Sound has received approved zoning for Cayman Enterprise City proposed campus.

The Planned Area Development approval provides general permission for Enterprise City’s envisaged overall master plan that was supplied during a meeting of the Central Planning Authority on Thursday 10th December.

Enterprise City will still need to apply for separate planning approval for each phase of the project, which when completed will see a cluster of office buildings, homes, restaurants and a hotel surrounding a man-made lake.

The first phase of the project will see an application for two five-story “gateway” office buildings early next year.

Chief development officer for the zone, Cindy O’Hara, has said that there are already enough businesses to fill the first building. (more…)

Robert McCrimmon December 14, 2015 Blogbusiness, Cayman Enterprise City, Cayman Islands, Central Planning Authority, Cindy O'Hara, Grand Cayman, homes, office, South Sound, zone Read more >

Cayman Brac Twenty Percent Rise in Air Arrivals

Cayman Brac has seen a twenty percent rise in air arrivals from this time last year.

The increased numbers are the outcome of the upgrades Charles Kirkconnel International Airport underwent during the past year, which were only officially opened in February 2015.

The upgrades included the construction of a Hold Baggage Screening (HBS) Room, which is a necessity for international travel to the United States, an In-transit lounge, and an arrivals hall. The run way also has the capability to accommodate all of the aircraft that can land at the Owen Roberts International airport, on Grand Cayman, apart from the British Airways Boeing 767. (more…)

Jason Pickthall August 7, 2015 Blogair arrivals, arrival growth, arrivals hall, business, Cayman Brac, Cayman Brac Businesses, Cayman Government, Cayman Island, Charles Kirkconnell International Airport, development, economy, entrepreneurs, Hold Baggage Screening, In-transit lounge, investors, land, Owen Roberts International Airport, property, real estate, tourism Read more >

5 Year Multiple Entry Visa for the Cayman Islands

Regular business people and tourists can now apply for a new multiple-entry visa that lasts for five years. The previous visa only lasted three years, by adding an extra two years officials are confident that the new visa would encourage successful applicants to travel to the Cayman Islands more often. To be considered for the new long-term visa you must submit your application through the Cayman Island Visa Offices in Honduras and Jamaica. (more…)

Robert McCrimmon June 10, 2015 Blogbusiness, Cayman Islands, Department of Immigration, multiple-entry, tourism, travel, Visa Read more >

Global Business Leaders Gather in Cayman

Cayman Enterprise City (CEC) welcomed high-level delegations of the tech industry, in conjunction with the Internet Marketing Association (IMA) to Grand Cayman on April 9th 2015. The trip was part of Cayman’s initiative to bring leading tech companies to the Cayman, and to develop the partnership between CEC and IMA.

The Cayman delegation met with business leaders from leading technology brands including Google, Microsoft, and Adobe. Despite business relations being at an early stage all parties seemed delighted with at the prospect and expect big things in the future. A co-hosted annual conference is in Cayman is in the pipeline, starting with a 300 attendee next year.

It has also been reported that the IMA has taken steps to become part of the Special Economic Zone, according to Chairman of the IMA Sinan Kanatsiz

Sinan Kanatsiz went on to say “We are excited that our partnership with CEC has been taken to the next level by bringing leadership from American business interests to the Cayman Islands. This event materialises a vision created in September 2014 during IMA’s flagship event, IMPACT14 in Las Vegas. The IMA looks forward to creating more economic investment opportunities for CEC and appreciates all of CEC’s contributions to date. This trip has been so successful that we plan to co-host with CEC a much larger annual event in Cayman starting next year.”

Jason Pickthall April 16, 2015 BlogAdobe, business, Cayman, Cayman Enterprise City, CEC, Google, Grand Cayman, IMA, IMPACT 14, Internet Marketing Association, Microsoft, SEZ, Sinan Kanatsiz, Special Economic Zone, tech Read more >

Tag Archive: business