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News and Articles

May 2010

When it all goes wrong (and you may not even know...)

29.05.10

On advice, a settlor establishes a discretionary trust and the trustees manage the trust fund in accordance with the settlor’s letter of wishes. None of the beneficiaries or the settlor has anything to do with the UK. The trust is established to invest in a particular investment (e.g. a commercial property), and subsequently a profit is made on its disposal.

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March 2010

Celebrating 25 Years of Operations

Celebrating 25 Years of Operations

01.03.10

To commemorate the 25th anniversary of Cayman National Bank and Trust Company (Isle of Man) and in recognition of the relationship which has endured over this entire period, Victoria McEneaney, Island Director of ...

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February 2010

The Isle of Man emerges well from UK's Offshore Financial Centres Review

The Isle of Man emerges well from UK's Offshore Financial Centres Review

01.02.10

The strongest recognition yet of the Isle of Man's role in attracting foreign investment into the City of London is contained in the findings of the UK Government's review of its offshore financial centres.

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International Banking Group nearing launch

International Banking Group nearing launch

01.02.10

Cayman National’s subsidiary in the Turks & Caicos Islands, International Banking Group, is nearing its launch. The new bank will be providing retail and commercial banking services to the Turks & Caicos Islands. International Banking Group aims to replicate the success of Cayman National and become a substantial player in the retail and commercial banking sector.

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January 2010

Resident or Non-Resident?

11.01.10

Why does Residence matter? Because if you are resident in the UK you will always pay tax on your UK income. The terms “residence” and “ordinary residence”, however are not defined in the taxes acts....

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Standard & Poor's 'AAA' Credit Rating for Isle of Man

01.01.10

The Isle of Man has once again been accorded with a 'AAA' credit rating by Standard & Poor's. In reaching this decision, they have considered the implications of future reduced revenues from the Customs & Excise Agreement, and concluded that the Isle of Man's financial position remains robust and will be able to deal with ongoing budgetary pressures.

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Foreclosures as the new wave to hit Dubai's property market?

01.01.10

The British bank Barclays recently succeeded in taking their first repossession cases through the Dubai courts. Few details were given about the rulings, but the bank said it showed the property market was “evolving and is poised to come at par with other mature markets of the world”.

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September 2009

Cayman National Opens Representative Office in Panama

Cayman National Opens Representative Office in Panama

03.09.09

Cayman National's representative office in Panama City is now open for business, having obtained its Representation License in February.The ...

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 Front Line Philanthropy - Guest Article by Paul Beckett*

Front Line Philanthropy - Guest Article by Paul Beckett*

02.09.09

Twenty-first century entrepreneurs who have acquired personal fortunes are used to directing their own lives and to making their own decisions. Many of them want to put something back into the societies which have supported their own rise to fame and fortune.

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