Mr. Anthony Travers, the Chairman of Cayman Finance, said, “The Premier clearly recognizes the shift in the competitive global environment and what Cayman must now do to attract and retain business investment and support and enhance its revenue base for the benefit of the Islands .The Premier’s initiatives are appropriate and timely . The historical partnership between the Cayman Islands Government and the Financial Services firms that allowed our jurisdiction to build and grow this industry into a respected global leader has been renewed under this Premier’s leadership.”
We belive it is helpful that Premier Bush has arranged one on one meetings with firms that contribute, directly and indirectly, almost 20% of all Government revenues and employ over 3,000 residents. It is also clearly the case that the Premier has taken note of the way certain jurisdictions are aggressively marketing to our existing firms to attract their physical operations and their willingness to accommodate firms staffing needs.
Cayman Finance believes that the immigration proposals introduced by the Cayman Islands Government should be well received by existing firms and will also help to attract new physical operations to develop the financial services industry in new directions . Mr Travers who has been an outspoken critic of the application of the rollover policy in relation to the financial services industry says that he is particularly pleased about the Premier’s announcement that the rollover policy will be revised by the Government this year.