Following the signing of its 12th Tax Information Exchange Agreement (TIEA) with New Zealand on Thursday, 13 August, the Cayman Islands was promoted to the “white list” by the Organisation for Economic Cooperation and Development (OECD).
Cayman is now added to the Paris-based OECD’s “white list” of jurisdictions that substantially implement international tax standards after being on the “grey list” for a number of months.
“For over four decades the Cayman Islands has steadily earned its place as a world-class international financial services centre,” said Leader of Government Business/Premier Designate, Hon McKeeva Bush.
“The Cayman Islands Government sees the OECD’s recognition as a natural outcome of the country’s substantial commitment to uphold an equally world-class international cooperation regime in the exchange of tax information.”
Jeffrey Owens, Director of the OECD’s Centre for Tax Policy and Administration, welcomed the signing, which puts the Cayman Islands “alongside other countries that have substantially implemented the internationally agreed tax standard”.
“The Cayman Islands Government is looking forward to working in partnership with competent authorities in implementing agreements it has signed, concluding additional agreements with Cayman’s important trading partners in financial services and continuing its active role in the OECD Global Forum, to which it committed in 2000,” Mr Bush said.
Chairman of the Cayman Islands Financial Services Association (CIFSA) Anthony Travers said the organisation welcomed the OECD’s latest decision.
“We are pleased to see that Cayman’s position on tax transparency has now been recognized by the OECD. It is clear that the results achieved by CIG in completing the TIEAs and the ongoing initiative remove any basis on which legitimate criticism can now be levelled at the Cayman Islands on the subject of tax transparency. That should also exclude any further inappropriate reference to and mischaracterization of the Cayman Islands as a ‘tax haven’.”
“Historically on each occasion on which Cayman has improved tax and all crimes transparency we have experienced increased transactional flow and we have no reason now to doubt a similar positive outcome .We are pleased that CIFSA’s lobbying efforts on this subject caused sufficient resources to be brought to bear by the new administration which have achieved the right result.”
Mr Travers added: “We also believe that this issue will shortly be regarded as an historical footnote. There are now rather more significant issues on which the financial industry is focused.”
The Leader of Government Business said that this move to advance the country’s various global commitments in the area of international cooperation and regulation is part of the recently-elected United Democratic Party’s manifesto pledge to enhance and protect the industry.
Mr Bush on Thursday signed Cayman’s 12th tax information exchange agreement (TIEA) with New Zealand at that country’s embassy in Washington DC, United States.
“The Government has met an important objective of entering into several bilateral tax arrangements to support our commitment to upholding international standards in the exchange of tax information,” he said.
“We would like to express our thanks to the technical teams from both Cayman and New Zealand for their diligence in ensuring a swift and productive negotiating process.”
Signing on behalf of New Zealand was its US Ambassador Roy Ferguson. The Cayman Islands delegation included George McCarthy, Chairman of the Cayman Islands Monetary Authority; Richard Parchment, Senior Political Assistant; and Michelle Bahadur, Senior Assistant Secretary in the Office of the Financial Secretary.
“Today’s signing is also significant in helping to ensure the Cayman Islands remains a favourable, world class, transparent financial services centre; a position which we are committed to maintaining in the long term,” added Mr Bush. Cayman tax arrangements
The Cayman Islands’ competent authority for tax cooperation arrangements is the Tax Information Authority, established in 2005 under the Tax Information Authority Law (2005), introduced to provide for effective international cooperation in tax matters.
The Cayman Islands maintains 12 bilateral tax information arrangements with the following countries: Denmark, Faroe Islands, Finland, Greenland, Iceland, Ireland, Netherlands, New Zealand, Norway, Sweden, United Kingdom, United States.
In addition to arrangements under the OECD initiative, the Cayman Islands has bilateral tax treaties with the 27 EU member states under which it reports savings income information, pursuant to measures equivalent to the European Union Savings Directive.
The Cayman Islands’ unilateral arrangement for tax information assistance currently covers 12 countries, namely Austria, Belgium, Czech Republic, Germany, Ireland, Japan, Luxembourg, the Netherlands, Slovak Republic, South Africa, the United Kingdom and Switzerland.
The Cayman Islands has been an active participant in the OECD Global Forum on Taxation. In May 2000, the Cayman Islands was one of the first non-OECD jurisdictions to adopt the principles of transparency and exchange of information in tax matters, based on a level playing field. As an early adopter, the Cayman Islands has been involved in the development of the OECD’s standards for effective exchange of information in tax matters and is a member of the Global Forum’s level playing field sub-group, along with other OECD and non-OECD colleagues.

Cayman Islands links

Links
Research Links
we feel it is important for our customers to take an objective and independent view of buying land from us and the following websites are all excellent resources for researching and assessing the remarkable opportunity which the Cayman Islands represents:
Government Links
www.gov.ky/ - Official Cayman Island government website
http://www.planning.gov.ky/ - The Cayman Islands Planning Department
www.caymanlandinfo.ky/ - The Cayman Islands Land & Survey Department
Maps & Tourism Links
http://www.caymanislands.ky/ - Cayman Islands Tourist Board website
www.CaymanIslands.co.uk/discover - Virtual tour of the Cayman Islands
http://www.gocayman.ky/ - General information about the Caymans
http://www.mapcayman.com/ - Interactive Grand Cayman map
Map of Cayman Islands - Multimap
Google Earth view of Cayman Islands - Requires Google Earth
http://naturecayman.com/ - Guide to the ecology of Cayman Brac and Little Cayman
http://sisterislands.com/ - Cayman Brac and Little Cayman tourist board website
http://www.discovercaymans.com/ - Independent tourist advice about the Cayman Islands
Hotel / Accommodation Links
Cayman Brac
http://www.bracreef.com/ - Brac Reef Caribbean Resort on Cayman Brac
http://www.caribesands.com/ - Carib Sands Beach Resort on Cayman Brac
http://www.crystalazure.com/ - The soon to be completed 5 star Crystal Azure Resort on Cayman Brac
http://www.caymancondosonline.com/ - Cayman Breakers Luxury Seafront Condos on Cayman Brac
http://www.866thebrac.com/ - Brac Caribbean Beach Village on Cayman Brac
Little Cayman
http://www.southerncrossclub.com/ - The Southern Cross Club on Little Cayman
http://paradisevillas.com/ - Paradise Villas on Little Cayman
www.littlecayman.com/resort/beach_resort.php - Little Cayman Beach Resort on Little Cayman
http://www.conchclub.com/ - The Conch Club Condominiums on Little Cayman
http://www.theclubatlittlecayman.com/ - The Club at Little Cayman on Little Cayman
Grand Cayman
www.ritzcarlton.com/grandcayman - The Ritz Carlton on Grand Cayman
http://www.marriott.com/hotels/travel/gcmgc - The Marriott Hotel on Grand Cayman
http://www.grand-cayman-beach-suites.com/ - The Grand Cayman Beach Suites on Grand Cayman
http://www.westincasuarina.com/ - The Westin Casuarina on Grand Cayman
Professional Services Links
http://www.remax.ky/ - Remax - Leading Caymanian real estate agency
http://www.caymanislandsrealty.com/ - Coldwell Banker - Leading Caymanian real estate agency
http://www.csx.com.ky/ - The Cayman Islands Stock Exchange
http://www.myers-alberga.com/ - Cayman Island attorneys able to advise on immigration
Entertainment Links
FREE - Cayman Islands Tourism Podcast - Requires iTunes or similar
http://www.ritzcarlton.com/en/Properties/GrandCayman/Default.htm - The new Ritz Carlton on Grand Cayman
http://www.caymangoodtaste.com/ - Caymans definitive eating guide
http://www.caymanbuzz.com/directory/search/?yp=1&cat=Restaurants - List of Cayman Island restaurants
http://www.caymanbuzz.com/directory/search/?yp=1&typ=ypn&cat=Multiple&catid=273-274-275-276-277-278-361-440-693-723-873-874-875&srchStart=0&srchQty=50 - List of Cayman Island diving related businesses
http://www.cw.ky/internet/media/live-streams/radio-cayman.php - Radio Cayman
http://www.caycompass.com/ - Caymans national newspaper
http://www.caymannetnews.com/weather.htm - Weather forecasts for the Cayman Islands/li>
Construction Links
http://www.caymanbuzz.com/directory/search/?yp=1&typ=ypn&cat=Architects&my=as&srchStart=0&srchQty=50 - List of Cayman Island architects
http://www.caymanbuzz.com/directory/search/?yp=1&typ=ypn&cat=Building%20Contractors&my=as&srchStart=0&srchQty=50 - List of Cayman Island builders
Transport Links
www.cayman.com.ky/visiting/airlines.htm - Airlines Information
http://www.caymanairways.com/ - Caymans national carrier
http://www.british-airways.com/ - British Airways offers service four times weekly using Boeing 767s from London Heathrow to Grand Cayman on Tuesdays, Wednesdays, Fridays and Saturdays with an intermediate stop in Nassau, Bahamas.
http://www.aa.com/ - American Airlines who provide non-stop daily flights from Miami to Grand Cayman.
http://www.continental.com/ - Continental Airlines operates a Boeing 737-700 aircraft equipped with 12 first class and 112 economy class seats and their New York flight departs from Newark International Airport on Saturdays.
http://www.delta.com/ - Delta Airlines operates a 148-seat Boeing 738-800 from Atlanta to Grand Cayman daily with an additional flight on Saturdays.
iair@candw.ky - Island Air has two executive planes for charter that can hold eight passengers each. The airline flies to 12 destinations within the Caribbean and Central America. Popular destinations include Little Cayman and Cayman Brac. Island Air also provides airplane hangar storage, executive rental, sightseeing trips, corporate aircraft, third party maintenance and Texaco fuel.
http://www.nwa.com/ - Northwest operates a 148-seat Airbus 320 from Detroit to Grand Cayman on Saturdays.
http://www.usairways.com/ - US Airways serves Grand Cayman daily from Charlotte, North Carolina.
http://www.aircanada.com/ - Air Canada operates non-stop flights from Toronto to Grand Cayman every week with convenient connections from / to Western and Eastern Canada. They operate 4 flights weekly over the winter season and once weekly over the summer season. Air Canada also offer daily flights to Grand Cayman by connecting with Cayman Airways through their various gateways in the U.S.
http://www.airjamaica.com/ - Air Jamaica offers a regular service to Kingston and Montego Bay, Jamaica from Grand Cayman and also flys regularly from Manchester to Jamaica with easy connections available.
http://www.andys.ky/ - Andy’s Car Rental on Grand Cayman
http://www.caymanislandshelicopters.com/ - Cayman Islands helicopter Hire
http://www.stratosjets.com/jet-charter-airports/Cayman-Islands/Cayman-Islands - Cayman Islands Private jet hire
Commercial Links
we recommend that you take professional advice prior to purchasing land.
The following are a list of independent advisors who fully understand our operation and offer our customers preferential rates. The choice of who to use remains completely yours and we neither recommend nor endorse any of the advisors listed; they are purely provided as a free resource:


Compliance Links
we take compliance very seriously and has made substantial investments to ensure it is a world class business in relation legal, ethical and professional compliance. We are compliant in all of the following areas of compliance and the links below will allow you to download and view the relevant legislation.
http://www1.cimaglobal.com/cps/rde/xbcr/SID-0AE7C4D1-3AA2150B/live/psd_oft_estagency_jan06.pdf - The Estate Agents Act 1979
http://www.opsi.gov.uk/Acts/Acts1998/plain/ukpga_19980029_en - The Data Protection Act 1998
http://www.opsi.gov.uk/si/si2008/pdf/uksi_20081277_en.pdf - Consumer Protection From Unfair Trading Regulations 2008
http://www.opsi.gov.uk/si/si2000/20002334.htm - Consumer Protection (Distance Selling) Regulations 1997
http://www.opsi.gov.uk/Acts/acts1968/PDF/ukpga_19680029_en.pdf - The Trade Descriptions Act 1968
http://www.opsi.gov.uk/acts/acts2006/pdf/ukpga_20060014_en.pdf - The Consumer Credit Act 2006
http://fsahandbook.info/FSA/html/handbook/ - FSA Handbook

Cayman Islands holidays
The three islands of Grand Cayman, Little Cayman and Cayman Brac offer holidaymakers a range of memorable Caribbean experiences above and below their crystal blue waters. The largest, Grand Cayman, is home to the elegant capital, where visitors can pick up duty free bargains and learn about the islands' culture, and the famous Seven Mile Beach, a seemingly endless stretch of immaculate white sand.

Cayman Islands highlights

Grand Cayman's fascinating natural attractions, such as the turtle sanctuary, the butterfly farm and the Queen Elizabeth II Botanic Park, where the Blue Iguana Recovery Programme recently proudly announced the birth of 87 baby blue iguanas.
Grand Cayman's sister islands - also a paradise for nature lovers, with eight miles of trails lined with educational information on local flora and fauna on Cayman Brac and the many thousands of feathered travellers attracted to Little Cayman.
The hundreds of dive and snorkel sites, many just a short swim from the shore, where turtles and eagle rays share pristine coral reefs and the wreckage of ill-fated ships with hundreds of species of vibrant and inquisitive fish.

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Cayman Islands Vacations: Grand Cayman

Cayman Islands Vacations: Grand Cayman Hotels & Resorts, Vacation ...
5 Mar 2009 ... Planning a vacation to the Cayman Islands? Find expert tips on hotels, resorts, flights & vacation rentals. Also offers information on ...cayman.com.ky/ - Cached - Similar -

Cayman Islands - CIA

CIA - The World Factbook -- Cayman Islands
Features map and brief descriptions of the geography, people, government, economy, communications, transportation, military and transnational issues.https://www.cia.gov/library/publications/the-world.../geos/CJ.html

Cayman Islands - A Caribbean Adventure

Cayman Islands - Grand Cayman, Cayman Brac and Little Cayman ...
Cayman Islands -A Caribbean vacation adventure for people of all ages. www.caymanislands.ky is an interactive site featuring dynamic Flash maps, ...www.caymanislands.co.uk/ - Cached - Similar -

Cayman Islands' authority

Cayman Islands Government - For Information and Services
The official portal for the Islands' authority. Includes general information, history, links to directories, government agencies, and services.

Cayman Islands investment: Market Overview

www.crownacquisitionsworldwide.com

Little Cayman

In Little Cayman raw land has been the big seller so far this year. It appears more and more people are seeing the appeal and value of owning a piece of this tranquil paradise.

Although condo sales have slowed in Little Cayman, land has shown an increase over previous years with beachfront lots and inland parcels changing hands. Prices are still relatively low compared to other destinations and people are beginning to realize that will not last forever.

There are a number of houses currently under construction on Little Cayman and the local builders are getting new projects going as soon as one is finished.

Cayman Brac

Raw land has also been the top seller in Cayman Brac this year with the double incentives of having the stamp duty waived if you build within two years of purchase and also the duty free building supplies.

The ‘bluff’ on Cayman Brac is still in demand as interest continues to grow in this high elevation stronghold. With direct flights from Miami later in the year – now is the time to buy before this mostly undiscovered gem of an island becomes better known.

Overall

Prices are increasing for land purchasers in the Cayman Islands. We are seeing prices rise as much as 25% per foot on ocean front pieces of raw land and altogether prices are up about 10% from this time last year. Little Cayman is growing in popularity and word is spreading about this relatively untouched paradise. The Cayman Brac market has been experiencing an upswing…interest in ‘bluff’ edge lots and acreage has soured to the point that most ‘bluff’ edge lots have now been sold and now most available edge lots are re-sales. With the increase in ‘bluff’ activity, there has also been notable interest in the still very affordable ocean front property and inland parcels.

Like it simple? Then get yourself to delightfully basic Little Cayman Island.

Why are we stopped?" I wonder aloud to the pilot, right in front of me। The prop plane is at a standstill at the edge of a road, waiting to finish its taxi to Little Cayman Island's understated "air terminal." I just make out an iguana from my window, soaking up rays on the asphalt. A few yards away, a road sign: "Iguanas have the right of way; drive slowly."

There are few places left on Earth where international travel comes to a full stop for a sunning reptile; the squiggle of an island known as Little Cayman, and its 60 or so residents, are determined to stay one of them। Smallest of the three Cayman Islands, Little Cayman lies a half-hour plane hop—and light years of development—away from Grand Cayman, notorious for its good-time resorts and its status as the world's fifth-largest banking center. Like its sister islands, Little Cayman's deservedly famous top attraction is the fringe of unspoiled reefs along the Cayman Trench, the deepest point in the Caribbean Sea—which, combined with truly pellucid waters, add up to some of the most spectacular diving in the world. Barely ten square miles, Little Cayman is, like the iguana, a relic of an earlier Caribbean, when flocks of frigatebirds and boobies roosted in swamps dense with mangroves, when conchs crowded the seafloor like coins crowd the Trevi Fountain. When air terminals did double or triple duty as post offices and tourism centers.

I circle the island's mostly unpaved ring road, the whole circuit taking maybe an hour। Brackish ponds inland—inland is barely a mile wide—including Tarpon Lake, which glints with the large, silver-plated fish. Along the shore, mile after mile of reefs, pooling water the shocking color of verdigris. Almost no trace of human presence the whole way round; shell-paved road, low-lying vegetation, vast sky, and that breath-catching water. Essence of Island.

We boat into some shallows, where conchs still crowd the seafloor thanks to strict marine conservation laws. Slipping into the warm water, we snorkel for the mature conchs, gathering five in fewer than ten minutes. Sitting on the boat, feet in the water, waves lapping the reef, chewing seconds-from-the-water seafood with the sun a gold sand dollar above, it takes me maybe 50 seconds to promise myself I'll be moving here, soon, for the rest of my life.