Crownworld

Tag Archive: Finance

Cayman ranks 28th in Global Financial Centers Index

Cayman ranks 28th in the latest Global Financial Centers Index, up from 41 in the previous survey.

Cayman’s index score increased from the previous survey 6 months ago by 35 points to 676.

Jude Scott, CEO of Cayman Finance said, “Our reputation as a center of excellence for international financial services continues to go from strength to strength and this latest ranking is proof of that.”

“The Cayman Islands continues to be recognized for its client-centric focus and for delivering excellence in service. Clients are at the center of our financial services industry. They are at the core of everything we do, and this approach has been central to our success as a leading international financial center,” Mr. Scott added.

“The Cayman Islands is now the highest-ranking mainstream international financial services center.” (more…)

November 28, 2016 Blog, Read more >

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…)

May 17, 2016 Blog, , Read more >