Cayman Finance News

Cayman’s financial services industry began broadening its reach internationally years ago with firms opening offices in other offshore jurisdictions as a pace, appreciating the need to physically outreach to clients and ensure that their business benefitted from the cross border flows that are part and parcel of international finance. 

Cayman Finance Chairman, Richard Coles, discussing the new Cayman Islands budget on Cayman 27.  Click here to view the video

The Offshore Alert conference in Miami in May presented once again the whole spectrum of opinions with regard to offshore financial centres, describing their function as anything from “parasitic” to “greasing the wheels of the global financial system”. Onshore jurisdictions, however, also received their fair share of criticism for ineffective tax policy, lack of compliance and corporate services that facilitate crime. 

Richard Coles, Chairman of Cayman Finance, speaks on Radio Cayman about the proposed payroll tax.  Click here to listen to the news broadcast.

The Financial Services Group says government never consulted with it as to the impact direct taxation on income will have in the Cayman Islands. Cayman Finance Chair, Richard Coles, says his group has received no details on the payroll tax other than what’s been reported in the media.  View the video here http://www.cayman27.com.ky/2012/07/26/financial-services-not-consulted