Cayman National http://www.caymannational.com/ Cayman National Mon, 25 Sep 2017 02:41:26 +0000 en-us Restructuring of Isle of Man operations http://www.caymannational.com/news-detail.php?Restructuring-of-Isle-of-Man-operations-111 Activities in the Isle of Man are to be split into two companies following a strategic review. Tue, 12 Sep 2017 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Restructuring-of-Isle-of-Man-operations-111 Colin Peters appointed as Banking Manager - Article in Business 365 magazine http://www.caymannational.com/news-detail.php?Colin-Peters-appointed-as-Banking-Manager---Article-in-Business-365-magazine-110 Cayman National’s banking services has strengthened its management team with the appointment of Colin Peters as Banking Manager. Colin has been charged with the responsibility for oversight of banking and lending operations and for general business development. Tue, 15 Nov 2016 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Colin-Peters-appointed-as-Banking-Manager---Article-in-Business-365-magazine-110 Local charities benefit from Cayman National’s presentation at Crypto Currency Seminar http://www.caymannational.com/news-detail.php?Local-charities-benefit-from-Cayman-National-s-presentation-at-Crypto-Currency-Seminar-108 On 24th October, Lee Penrose, Cayman National’s Senior Fiduciary Executive was asked to present the Crypto-Currencies 101 seminar organised by Hamblin Employment Group. Over the last four months Lee has been researching and evaluating the potential of crypto-currencies on behalf of Cayman National and he has attended the Bitcoin 2014 (Amsterdam) and BitFin (Dublin) conferences as well as the recent Crypto Valley Summit organised by the Isle of Man Government. Tue, 04 Nov 2014 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Local-charities-benefit-from-Cayman-National-s-presentation-at-Crypto-Currency-Seminar-108 Tax Agreement with Indonesia now ratified http://www.caymannational.com/news-detail.php?Tax-Agreement-with-Indonesia-now-ratified-105 The Isle of Man’s Agreement for the Exchange of Information Relating to Tax Matters with the Republic of Indonesia came into force on 22 September 2014. The agreement is part of the Isle of Man Government’s programme of developing closer economic and taxation co-operation with other countries around the world. Thu, 23 Oct 2014 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Tax-Agreement-with-Indonesia-now-ratified-105 Tax Agreement with Switzerland http://www.caymannational.com/news-detail.php?Tax-Agreement-with-Switzerland-106 The Isle of Man’s Agreement for the Exchange of Information Relating to Tax Matters with the Swiss Confederation entered into force on 14 October 2014. Thu, 23 Oct 2014 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Tax-Agreement-with-Switzerland-106 Appointment of Andrew Hardman as Custodian Manager at Cayman National http://www.caymannational.com/news-detail.php?Appointment-of-Andrew-Hardman-as-Custodian-Manager-at-Cayman-National-104 The Cayman National Group are pleased to announce the appointment of Andrew Hardman as Manager of Custodian Services at Cayman National Bank and Trust Company (Isle of Man) Limited. Fri, 10 Oct 2014 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Appointment-of-Andrew-Hardman-as-Custodian-Manager-at-Cayman-National-104 Digital Currency - An Opportunity for the Isle of Man by Lee Penrose http://www.caymannational.com/news-detail.php?Digital-Currency---An-Opportunity-for-the-Isle-of-Man-by-Lee-Penrose-103 In this article, Lee has provided an in-depth overview of the concept, players, issues and opportunities in this emerging industry, recognising at the same time an opportunity for the Isle of Man to be a key player in this field. Sat, 23 Aug 2014 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Digital-Currency---An-Opportunity-for-the-Isle-of-Man-by-Lee-Penrose-103 Isle of Man signs Tax Co-operation Agreement with Swaziland http://www.caymannational.com/news-detail.php?Isle-of-Man-signs-Tax-Co-operation-Agreement-with-Swaziland-107 The Isle of Man has signed a Tax Information Exchange Agreement (TIEA) with the Kingdom of Swaziland. Thu, 07 Aug 2014 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Isle-of-Man-signs-Tax-Co-operation-Agreement-with-Swaziland-107 The World of Virtual Currencies by Ian Bancroft, Managing Director http://www.caymannational.com/news-detail.php?The-World-of-Virtual-Currencies-by-Ian-Bancroft-Managing-Director-99 Virtual or digital currencies are electronic currencies that are stored, exchanged and used entirely through computer media. They are not legal tender, but provided a sufficiently large user communicate are prepared to place trust in them, they can be used for the settlement of transactions and for savings purposes. Although such digital currencies have been in existence for quite some time, there has been a significant surge in interest over the past year in crypto currencies, which are a subset of the virtual currency universe, and in particular in 'Bitcoin', which was the first crypto-currency, launched in 2009. Wed, 30 Jul 2014 00:00:00 +0000 http://www.caymannational.com/news-detail.php?The-World-of-Virtual-Currencies-by-Ian-Bancroft-Managing-Director-99 Update on information exchange by Ian Bancroft, Managing Director http://www.caymannational.com/news-detail.php?Update-on-information-exchange-by-Ian-Bancroft-Managing-Director-100 After some delays and with no small measure of confusion and complication for the entire financial services community, FATCA (the Foreign Accounts Tax Compliance Act) has finally arrived. Although FATCA was originally a US initiative, the UK introduced a comparable regime for the British territories, which follows a very similar path to the US regime, even to the extent of referring in the UK regulations to 'checking accounts', a spelling previously unfamiliar to banking on this side of the Atlantic! Consequently, in relation to our US and UK clients, the FATCA regime commenced on 1 July. Mon, 28 Jul 2014 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Update-on-information-exchange-by-Ian-Bancroft-Managing-Director-100 New Director of Civil Aviation for the Isle of Man http://www.caymannational.com/news-detail.php?New-Director-of-Civil-Aviation-for-the-Isle-of-Man-98 The Department of Economic Development has announced that Simon Williams will take over the role as the Isle of Man’s new Director of Civil Aviation on October 1st 2014 replacing Hartley Elder who retired earlier this year. Thu, 24 Jul 2014 00:00:00 +0000 http://www.caymannational.com/news-detail.php?New-Director-of-Civil-Aviation-for-the-Isle-of-Man-98 High Commendation for Isle of Man Financial Services Sector http://www.caymannational.com/news-detail.php?High-Commendation-for-Isle-of-Man-Financial-Services-Sector-101 The Isle of Man's Financial Services sector was the big winner at this year's International Fund and Product Awards with virtually all categories being won by Isle of Man-based firms and a number of others being 'Highly Commended'. Mon, 21 Jul 2014 00:00:00 +0000 http://www.caymannational.com/news-detail.php?High-Commendation-for-Isle-of-Man-Financial-Services-Sector-101 New Milestone for Isle of Man Aircraft Registry http://www.caymannational.com/news-detail.php?New-Milestone-for-Isle-of-Man-Aircraft-Registry-102 The Isle of Man's Aircraft Registry has announced the registration of its 700th aircraft since its establishment in May 2007. The aircraft was a Bombardier Challenger business jet, surveyed and registered in Hong Kong. Sun, 06 Jul 2014 00:00:00 +0000 http://www.caymannational.com/news-detail.php?New-Milestone-for-Isle-of-Man-Aircraft-Registry-102 Isle of Man Maritime Group hailed as a great success at the International Festival for Business http://www.caymannational.com/news-detail.php?Isle-of-Man-Maritime-Group-hailed-as-a-great-success-at-the-International-Festival-for-Business-95 On the 11th and 12th June 2014, the Isle of Man Maritime Group hosted two days of maritime themed events for the International Festival for Business ('IFB') in Liverpool, as part of the Maritime, Logistics and Energy week.The Festival, which was opened by Prime Minister David Cameron on Monday 9th June, is a six week long business programme aimed at promoting business in the North West and globally, to accelerate economic growth. Mon, 23 Jun 2014 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Isle-of-Man-Maritime-Group-hailed-as-a-great-success-at-the-International-Festival-for-Business-95 Launch of new 92 Day Notice Account -Helping local customers make the most of their savings http://www.caymannational.com/news-detail.php?Launch-of-new-92-Day-Notice-Account--Helping-local-customers-make-the-most-of-their-savings-94 Cayman National Group is celebrating 40 years of delivering bespoke financial solutions to their valued customers, including being established in the Isle of Man for almost 30 years. Cayman National takes individual banking customer needs very seriously. That is why, as part of their celebrations, their local office is proud to reveal the launch of a new 92 day notice bank account. This competitive offering, with an attractive interest rate of 1.01% p.a., provides an effective and flexible solution for their customer’s savings, without the need for the cash to be tied up for long periods. Fri, 23 May 2014 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Launch-of-new-92-Day-Notice-Account--Helping-local-customers-make-the-most-of-their-savings-94 Cayman National 'on track' for continued success after celebrating 40th anniversary http://www.caymannational.com/news-detail.php?Cayman-National-on-track-for-continued-success-after-celebrating-40th-anniversary-96 The Cayman National Group chose the Isle of Man and the Steam Railway's Pullman Dining Experience for its 40th anniversary celebrations. On an unseasonably warm evening in late April more than 60 guests, among whom were group board members from the Cayman Islands , directors and management , introducers and clients from the Isle of Man office, boarded the train in Douglas to enjoy an evening of celebrations to mark the founding in 1974 of the group which has its headquarters in the Cayman Islands and offices in the Isle of Man and Dubai. Wed, 30 Apr 2014 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Cayman-National-on-track-for-continued-success-after-celebrating-40th-anniversary-96 Dubai - Phoenix rising from the ashes? by Peter Robinson (Senior Executive Officer,Cayman National Dubai) http://www.caymannational.com/news-detail.php?Dubai---Phoenix-rising-from-the-ashes-by-Peter-Robinson-Senior-Executive-Officer-Cayman-National-Dubai-93 When I arrived in Dubai in early 2007 the economic boom was in full swing – they said that you were a fool if you couldn’t make money, and indeed many people became rich on the back of a huge government growth programme, as Dubai demanded to be recognised on the world stage. Thu, 13 Mar 2014 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Dubai---Phoenix-rising-from-the-ashes-by-Peter-Robinson-Senior-Executive-Officer-Cayman-National-Dubai-93 Holding a website offshore to reduce UK tax by Lee Hadnum (Guest Author and Tax Specialist) http://www.caymannational.com/news-detail.php?Holding-a-website-offshore-to-reduce-UK-tax-by-Lee-Hadnum-Guest-Author-and-Tax-Specialist-90 If you're looking to set up a website and want to reduce UK tax on the profits generated by that site, one option to avoid tax on the profits is by operating the site from overseas. Wed, 05 Mar 2014 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Holding-a-website-offshore-to-reduce-UK-tax-by-Lee-Hadnum-Guest-Author-and-Tax-Specialist-90 Latest Changes to Dual Contracts for Non-Doms by Lee Hadnum (Guest Author and Tax Specialist) http://www.caymannational.com/news-detail.php?Latest-Changes-to-Dual-Contracts-for-Non-Doms-by-Lee-Hadnum-Guest-Author-and-Tax-Specialist-89 The UK Government announced in December 2013 that it would be clamping down on the artificial use of 'dual contracts' for longer-term UK residents. It has now published drafted legislation which makes offshore employment income in a dual contract arrangement taxable in the UK when certain conditions are met. Thu, 27 Feb 2014 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Latest-Changes-to-Dual-Contracts-for-Non-Doms-by-Lee-Hadnum-Guest-Author-and-Tax-Specialist-89 Cayman National joins the Isle of Man Maritime Group http://www.caymannational.com/news-detail.php?Cayman-National-joins-the-Isle-of-Man-Maritime-Group-91 Organisations from the Isle of Man maritime sector have come together, ahead of the International Festival of Business 2014 (“IFB2014”) ,to form the ‘Isle of Man Maritime’ group. The aim of the IFB2014 is to accelerate economic growth with an ambitious programme of over 100 themed global business events with a target audience of 250,000 business professionals and advisors from over 125 countries. The eventual target is to assist in doubling the UK's exports by 2020. Thu, 20 Feb 2014 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Cayman-National-joins-the-Isle-of-Man-Maritime-Group-91 The OECD releases Common Reporting Standard (CRS) http://www.caymannational.com/news-detail.php?The-OECD-releases-Common-Reporting-Standard-CRS-92 The Organisation for Economic Co-operation and Development (OECD) have released their common reporting standard (CRS) document setting out a framework for exchange of information on financial accounts globally as well as recommended common due diligence procedures. Thu, 20 Feb 2014 00:00:00 +0000 http://www.caymannational.com/news-detail.php?The-OECD-releases-Common-Reporting-Standard-CRS-92 Information Exchange Update by Ian Bancroft (Managing Director, Isle of Man Office) http://www.caymannational.com/news-detail.php?Information-Exchange-Update-by-Ian-Bancroft-Managing-Director-Isle-of-Man-Office-88 The FATCA/Information Exchange journey continues, and there may yet be a few unexpected twists on the road ahead. Read on for a quick history. Mon, 17 Feb 2014 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Information-Exchange-Update-by-Ian-Bancroft-Managing-Director-Isle-of-Man-Office-88 Our Managing Director , Ian Bancroft reflects on 2013 and the year ahead http://www.caymannational.com/news-detail.php?Our-Managing-Director-Ian-Bancroft-reflects-on-2013-and-the-year-ahead-87 The world of international wealth management is changing fast. We support the work done by the Government of the Isle of Man in meeting the multi-faceted challenges and in positioning the Island to benefit in the years ahead. We have seen, over the past eighteen months, a gathering Global momentum towards the automatic exchange of information. Unlike some territories, the Isle of Man has never enacted bank secrecy legislation, although naturally we seek to uphold the highest levels of personal and business confidentiality. We expect our clients' financial arrangements to be properly and professionally structured, and we have not built our business on a model of helping clients to hide their assets. Consequently, we do not expect any adverse impact from these measures other than a further compliance cost burden. Thu, 19 Dec 2013 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Our-Managing-Director-Ian-Bancroft-reflects-on-2013-and-the-year-ahead-87 Isle of Man signs intergovernmental agreement with United States http://www.caymannational.com/news-detail.php?Isle-of-Man-signs-intergovernmental-agreement-with-United-States-85 Isle of Man Chief Minister, Allan Bell MHK has signed an intergovernmental agreement with the United States to improve international tax compliance and to implement the Foreign Account Tax Compliance Act (FATCA). FATCA is a US initiative which requires financial institutions to report information on accounts held by US taxpayers. The agreement, signed at the US Embassy in London, follows the ground breadking agreement the Isle of Man signed with the UK just over a month ago. Tue, 17 Dec 2013 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Isle-of-Man-signs-intergovernmental-agreement-with-United-States-85 UK Capital Gains Tax to apply on sale of residential properties held by non-residents http://www.caymannational.com/news-detail.php?UK-Capital-Gains-Tax-to-apply-on-sale-of-residential-properties-held-by-non-residents-84 In the recent Chancellor's Autumn statement, it was announced that a new tax charge would be applied against disposals of UK residential property by non-UK residents from April 2015. Tue, 10 Dec 2013 00:00:00 +0000 http://www.caymannational.com/news-detail.php?UK-Capital-Gains-Tax-to-apply-on-sale-of-residential-properties-held-by-non-residents-84 United Kingdom and Cayman Islands Agreement to improve international tax compliance http://www.caymannational.com/news-detail.php?United-Kingdom-and-Cayman-Islands-Agreement-to-improve-international-tax-compliance-80 On 5 November, 2013 the Government's of the United Kingdom and Cayman Islands signed the first intergovernmental agreement (IGA) between the UK and an Overseas Territory. Thu, 21 Nov 2013 00:00:00 +0000 http://www.caymannational.com/news-detail.php?United-Kingdom-and-Cayman-Islands-Agreement-to-improve-international-tax-compliance-80 Cayman National acquires book of clients from HL Fiduciaries Limited http://www.caymannational.com/news-detail.php?Cayman-National-acquires-book-of-clients-from-HL-Fiduciaries-Limited-83 Cayman National Bank and Trust Company, based in Hope Street, Douglas, has completed the acquisition of the clients of specialist fiduciary service provider HL Fiduciaries Limited, from the shareholders of local Chartered Accountants, Harding Lewis Limited. Sun, 17 Nov 2013 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Cayman-National-acquires-book-of-clients-from-HL-Fiduciaries-Limited-83 Yacht club sponsorship marks new tack for Cayman National http://www.caymannational.com/news-detail.php?Yacht-club-sponsorship-marks-new-tack-for-Cayman-National-82 Douglas Bay Yacht Club is on course to develop its training programme after it received sponsorship of £1000 from Cayman National Bank and Trust Company (Isle of Man) Limited. Sun, 10 Nov 2013 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Yacht-club-sponsorship-marks-new-tack-for-Cayman-National-82 The Isle of Man wins Best International Finance Centre Award http://www.caymannational.com/news-detail.php?The-Isle-of-Man-wins-Best-International-Finance-Centre-Award-73 The Isle of Man has been named 'Best International Finance Centre' in the Professional Advisor International Fund and Product Awards 2013 beating last year's winners, Jersey, into second place. In addition, businesses based in the Isle of Man won over half of this year's awards. Sat, 02 Nov 2013 00:00:00 +0000 http://www.caymannational.com/news-detail.php?The-Isle-of-Man-wins-Best-International-Finance-Centre-Award-73 Isle of Man Gambling Duty Act 2012 Due To Come Into Force http://www.caymannational.com/news-detail.php?Isle-of-Man-Gambling-Duty-Act-2012-Due-To-Come-Into-Force-81 The Isle of Man's Gambling Durty Act received Royal Assent in October 2012 and will come into operation on 1st January, 2014 if approved by local parliament, Tynwald. It replaces the former general betting duty, pool betting duty and online gambling duty with a single duty of excise called 'gambling duty'. The Act repeals and replaces various provisions currently contained in the Pool Betting (Isle of Man) Act 1961, Betting Act 1970 and the Online Gambling Regulation Act 2001. It will not deal with machine games duty, lottery duty on National Lottery games, or land based casino gaming. Mon, 21 Oct 2013 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Isle-of-Man-Gambling-Duty-Act-2012-Due-To-Come-Into-Force-81 The Isle of Man - The Jurisdiction of Choice for E-Gaming (by Ray Davies, Head of E-Garming , Isle of Man Department of Economic Development) http://www.caymannational.com/news-detail.php?The-Isle-of-Man---The-Jurisdiction-of-Choice-for-E-Gaming-by-Ray-Davies-Head-of-E-Garming-Isle-of-Man-Department-of-Economic-Development-78 The Isle of Man has established itself as the jurisdiction of choice for e-Gaming operators to base their global operations and is home to well over 50 e-Gaming licensees. The gaming sector now accounts for 8% of the Island's Gross Domestic Product (GDP) and spend within the local economy of £175M with taxes paid to the Islands economy of over £16M. Fri, 18 Oct 2013 00:00:00 +0000 http://www.caymannational.com/news-detail.php?The-Isle-of-Man---The-Jurisdiction-of-Choice-for-E-Gaming-by-Ray-Davies-Head-of-E-Garming-Isle-of-Man-Department-of-Economic-Development-78 First British dependency to sign agreement with UK on automatic sharing of tax information http://www.caymannational.com/news-detail.php?First-British-dependency-to-sign-agreement-with-UK-on-automatic-sharing-of-tax-information-79 The Isle of Man has become the first British dependency to sign an agreement with the United Kingdom extending the automatic disclosure of tax information. The intergovernmental agreement was signed in London on 11th October 2013 by Chief Minister Allan Bell MHK and HM Treasury Exchequer Secretary David Gauke MP. Fri, 11 Oct 2013 00:00:00 +0000 http://www.caymannational.com/news-detail.php?First-British-dependency-to-sign-agreement-with-UK-on-automatic-sharing-of-tax-information-79 Isle of Man Signs Tax Co-Operation Agreement with Italy and Lesotho http://www.caymannational.com/news-detail.php?Isle-of-Man-Signs-Tax-Co-Operation-Agreement-with-Italy-and-Lesotho-77 As part of the Isle of Man Government's ongoing programme of signing Double Taxation Agreements and Tax Information Exchange Agreement (TIEAs), Treasury Minister Eddie Teare MHK signed TIEAs with Italy and Lesotho on 16th September 2014 in London. Tue, 17 Sep 2013 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Isle-of-Man-Signs-Tax-Co-Operation-Agreement-with-Italy-and-Lesotho-77 Isle of Man signs Tax Information Exchange Agreement with Botswana. http://www.caymannational.com/news-detail.php?Isle-of-Man-signs-Tax-Information-Exchange-Agreement-with-Botswana.-74 The Isle of Man has signed a Tax Information Exchange Agreement (TIEA) with Botswana. The TIEA was signed by Botswana’s High Commissioner to the United Kingdom, His Excellency Mr Roy W Blackbeard, and by Manx Treasury Minister, Eddie Teare MHK, at a ceremony held in London on 14 June 2013. Fri, 21 Jun 2013 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Isle-of-Man-signs-Tax-Information-Exchange-Agreement-with-Botswana.-74 Isle of Man Tax Agreement with Guernsey comes into force http://www.caymannational.com/news-detail.php?Isle-of-Man-Tax-Agreement-with-Guernsey-comes-into-force-75 The Isle of Man’s Agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income with Guernsey will enter into force on 5 July 2013. Mon, 10 Jun 2013 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Isle-of-Man-Tax-Agreement-with-Guernsey-comes-into-force-75 Middle East Corporate Aviation Summit http://www.caymannational.com/news-detail.php?Middle-East-Corporate-Aviation-Summit-72 We are pleased to advise that our colleague, Peter Robinson will be attending the 2nd Annual Middle East Corporate Aviation Summit (MECAS) on the 13th June 2013. It is being held at the Sofitel Dubai Jumeirah Beach in Dubai. Should you wish to meet with Peter Robinson at this event, please email peter.robinson@cnifs.com to arrange an appointment. Tue, 04 Jun 2013 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Middle-East-Corporate-Aviation-Summit-72 Appointment of Non-Executive Director to Cayman National http://www.caymannational.com/news-detail.php?Appointment-of-Non-Executive-Director-to-Cayman-National-76 The Cayman National Group are pleased to announce the appointment of Ken Watterson as a non-executive director to the boards of both Cayman National Bank and Trust Company (Isle of Man) Limited and Cayman National Fund Services (Isle of Man) Limited. Tue, 28 May 2013 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Appointment-of-Non-Executive-Director-to-Cayman-National-76 Cayman National Representative at EBACE, Geneva http://www.caymannational.com/news-detail.php?Cayman-National-Representative-at-EBACE-Geneva-71 THE EUROPEAN BUSINESS AVIATION CONVENTION & EXHIBITION (EBACE2013) EVENT to be held between 21st and 23rd May, Geneva, Switzerland Fri, 10 May 2013 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Cayman-National-Representative-at-EBACE-Geneva-71 Isle of Man Tax Agreement with Singapore comes into force http://www.caymannational.com/news-detail.php?Isle-of-Man-Tax-Agreement-with-Singapore-comes-into-force-68 The Isle of Man's Double Taxation Agreement with the Republic of Singapore came into force on 2nd May, 2013. Fri, 03 May 2013 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Isle-of-Man-Tax-Agreement-with-Singapore-comes-into-force-68 Developments in International Taxation welcomed by Isle of Man http://www.caymannational.com/news-detail.php?Developments-in-International-Taxation-welcomed-by-Isle-of-Man-69 The Isle of Man Government has given an update on a number of taxation and regulatory matters in the light of international developments which are progressing ahead of the forthcoming G8 Summit. The UK Prime Minister David Cameron will be hosting this year's meeting of world leaders on 17 and 18 June which will be held in Northern Ireland. Among the topics expected to be on the Summit agenda is the initiative announced by the United Kingdom, France, Germany, Italy and Spain on 9 April 2013 for developing and piloting a form of multilateral tax information exchange based on the model FATCA intergovernmental agreement which they developed with the USA. Further European Union member countries have said that they will join the pilot. Wed, 01 May 2013 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Developments-in-International-Taxation-welcomed-by-Isle-of-Man-69 The Isle of Man adds Monaco and Switzerland for yacht ownership http://www.caymannational.com/news-detail.php?The-Isle-of-Man-adds-Monaco-and-Switzerland-for-yacht-ownership-64 Legislation changes have been approved by the Isle of Man Government allowing the Isle of Man Ship Registry to register vessels with ownership structures in Monaco or Switzerland Mon, 22 Apr 2013 00:00:00 +0000 http://www.caymannational.com/news-detail.php?The-Isle-of-Man-adds-Monaco-and-Switzerland-for-yacht-ownership-64 Isle of Man signs Tax Agreement with Argentina http://www.caymannational.com/news-detail.php?Isle-of-Man-signs-Tax-Agreement-with-Argentina-62 The Isle of Man Government signed a Tax Information Exchange Agreement (TIEA) with Argentina during a ceremony held in London on 14 December 2012. . Thu, 18 Apr 2013 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Isle-of-Man-signs-Tax-Agreement-with-Argentina-62 Cayman National Presence at the Baltic Business Aviation Summit http://www.caymannational.com/news-detail.php?Cayman-National-Presence-at-the-Baltic-Business-Aviation-Summit-60 Cayman National was proud to be one of the sponsors for the event which was held on 11th April 2013, at Tallinn Airport in Estonia. It was attended by Graham Sowrey, Senior Aviation and Yaching Officer, and Anita Gould-Davies , Business Development Manager from the Cayman National office. Thu, 11 Apr 2013 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Cayman-National-Presence-at-the-Baltic-Business-Aviation-Summit-60 Isle of Man Signs Double Taxation Agreement with Luxembourg http://www.caymannational.com/news-detail.php?Isle-of-Man-Signs-Double-Taxation-Agreement-with-Luxembourg-61 On the 8th April, 2013, the Isle of Man Government signed a comprehensive DTA with Luxembourg. Mon, 08 Apr 2013 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Isle-of-Man-Signs-Double-Taxation-Agreement-with-Luxembourg-61 Isle of Man Continues To Support Diversification Strategy http://www.caymannational.com/news-detail.php?Isle-of-Man-Continues-To-Support-Diversification-Strategy-65 The Department of Economic Development has outlined Government's strategy to further develop and diversify the Isle of Man's economy over the coming year. Details of the Department's key objectives and priorities have been published in a new 17 page document entitled 'Discover the Agenda for Change in Our Economy'. Thu, 28 Mar 2013 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Isle-of-Man-Continues-To-Support-Diversification-Strategy-65 Ambitious plans for 'intellectual property' in the Isle of Man http://www.caymannational.com/news-detail.php?Ambitious-plans-for-intellectual-property-in-the-Isle-of-Man-66 The Isle of Man Department of Economic Development has brought forward the first item in an ambitious programme of intellectual property legislation to Tynwald. Wed, 20 Mar 2013 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Ambitious-plans-for-intellectual-property-in-the-Isle-of-Man-66 The Isle of Man Disclosure Facility http://www.caymannational.com/news-detail.php?The-Isle-of-Man-Disclosure-Facility-67 H M Revenue and Customs(HMRC) recently agreed on a landmark agreement with the Isle of Man Government referred to as the 'Isle of Man disclosure facility' (IOMDF) designed to identify persons with undisclosed UK tax liabilities. Thu, 28 Feb 2013 00:00:00 +0000 http://www.caymannational.com/news-detail.php?The-Isle-of-Man-Disclosure-Facility-67 Isle of Man Personal allowances and thresholds remain unchanged http://www.caymannational.com/news-detail.php?Isle-of-Man-Personal-allowances-and-thresholds-remain-unchanged-59 Treasury Minister, Eddie Teare MHK, has revealed that there were no plans to change the current personal allowances and thresholds. This move was also extended to the maximum income tax liability, the 'annual tax cap' which is to remain at £120,000 for the tax year 2013/14. Thu, 21 Feb 2013 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Isle-of-Man-Personal-allowances-and-thresholds-remain-unchanged-59 Isle of Man Budget reveals developments on FATCA negotiations http://www.caymannational.com/news-detail.php?Isle-of-Man-Budget-reveals-developments-on-FATCA-negotiations-58 The Isle of Man continues to be at the forefront of developments in international tax compliance, transparency and exchange of information. In furtherance of this strategy, the Isle of Man has confirmed its intention to enter into an Inter Governmental Agreement with the United States, under which the Island’s compliance with the US FATCA regulations will be achieved and regulated. This agreement expected to be in place before the IRS commences its registration process for foreign financial intermediaries during the autumn of 2013. Wed, 20 Feb 2013 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Isle-of-Man-Budget-reveals-developments-on-FATCA-negotiations-58 Isle of Man signs Tax Co-operation Agreements with Jersey and Guernsey http://www.caymannational.com/news-detail.php?Isle-of-Man-signs-Tax-Co-operation-Agreements-with-Jersey-and-Guernsey-63 As part of the Isle of Man Government's ongoing programme of signing Double Taxation Agreements (DTAs) and Tax Information Exchange Agreements (TIEAs), Treasury Minister Eddie Teare MHK signed DTAs with Jersey and Guernsey on 24th January 2013. Thu, 24 Jan 2013 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Isle-of-Man-signs-Tax-Co-operation-Agreements-with-Jersey-and-Guernsey-63 Manx Business Jets Spared From APD http://www.caymannational.com/news-detail.php?Manx-Business-Jets-Spared-From-APD-56 The Isle of Man's Treasury Minister, Eddie Teare, has confirmed that the island will not be following the United Kingdom's decision to subject business jets to Air Passenger Duty (APD). This is the first time, since 1994, when APD was first introduced, that the Isle of Man has chosen not to maintain an equivalent regime to that in place in the United Kingdom. Thu, 22 Nov 2012 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Manx-Business-Jets-Spared-From-APD-56 Delegation from Cayman National to Middle East Business Aviation 11-13 December 2012 http://www.caymannational.com/news-detail.php?Delegation-from-Cayman-National-to-Middle-East-Business-Aviation-11-13-December-2012-57 MEBA is firmly established as a key event on the business aviation calendar. The next event will be held at Dubai’s Al Maktoum International Airport – Dubai World Central between the 11-13 December 2012. Thu, 22 Nov 2012 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Delegation-from-Cayman-National-to-Middle-East-Business-Aviation-11-13-December-2012-57 Isle of Man Aircraft Registry voted ‘best in the world’ http://www.caymannational.com/news-detail.php?Isle-of-Man-Aircraft-Registry-voted-best-in-the-world-55 A survey of leading aviation lawyers from around the world, conducted by leading aviation publication ‘Corporate Jet Investor’, has voted the Isle of Man Aircraft Registry the best aircraft registry in the world. Wed, 22 Aug 2012 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Isle-of-Man-Aircraft-Registry-voted-best-in-the-world-55 EU Approval on Zero/Ten http://www.caymannational.com/news-detail.php?EU-Approval-on-Zero-Ten-54 The Isle of Man's corporate tax regime was approved by the EU's Council of Economic and Financial Affairs (ECOFIN) in Brussels on 19 December 2011. Wed, 01 Feb 2012 00:00:00 +0000 http://www.caymannational.com/news-detail.php?EU-Approval-on-Zero-Ten-54 New Horizons for Cayman National http://www.caymannational.com/news-detail.php?New-Horizons-for-Cayman-National-52 Cayman National Isle of Man's new Aircraft and Yachting services are covered in a recent local media publication. Tue, 31 Jan 2012 00:00:00 +0000 http://www.caymannational.com/news-detail.php?New-Horizons-for-Cayman-National-52 Agreement signed with Dubai to boost economic ties http://www.caymannational.com/news-detail.php?Agreement-signed-with-Dubai-to-boost-economic-ties-53 The Isle of Man and Dubai Departments of Economic Development have announced the signing of a Memorandum of Understanding (MoU) aimed at promoting closer business, economic and trade relations between the two countries. Tue, 31 Jan 2012 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Agreement-signed-with-Dubai-to-boost-economic-ties-53 Cayman National attends London Boat Show http://www.caymannational.com/news-detail.php?Cayman-National-attends-London-Boat-Show-51 A team from Cayman National will be attending the 2012 Tullet Prebon London Boat Show. Wed, 11 Jan 2012 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Cayman-National-attends-London-Boat-Show-51 3rd Annual Aviation Asset Management Conference in the Middle East http://www.caymannational.com/news-detail.php?3rd-Annual-Aviation-Asset-Management-Conference-in-the-Middle-East-50 Cayman National are sponsoring the 3rd Annual Aviation Asset Management Conference in the Middle East to be held on the 10th November 2011 at the Novotel World Trade Centre in Dubai Wed, 09 Nov 2011 00:00:00 +0000 http://www.caymannational.com/news-detail.php?3rd-Annual-Aviation-Asset-Management-Conference-in-the-Middle-East-50 Implications for US Tax payers and Foreign Financial Institutions under FATCA http://www.caymannational.com/news-detail.php?Implications-for-US-Tax-payers-and-Foreign-Financial-Institutions-under-FATCA-47 The Foreign Account Tax Compliance Act (FATCA), enacted in 2010 as part of the Hiring Incentives to Restore Employment (HIRE) Act, is an important development in U.S. efforts to combat tax evasion by U.S. persons holding investments in offshore accounts. Under FATCA, certain U.S. taxpayers holding financial assets outside the United States must report those assets to the IRS. In addition, FATCA will require foreign financial institutions to report directly to the IRS certain information about financial accounts held by U.S. taxpayers, or by foreign entities in which U.S. taxpayers hold a substantial ownership interest. Tue, 26 Jul 2011 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Implications-for-US-Tax-payers-and-Foreign-Financial-Institutions-under-FATCA-47 The Irish Income Levy and Its Interaction with the Tax Co-operation Agreements Between the Isle of Man and Ireland http://www.caymannational.com/news-detail.php?The-Irish-Income-Levy-and-Its-Interaction-with-the-Tax-Co-operation-Agreements-Between-the-Isle-of-Man-and-Ireland-48 The governments of the Isle of Man and Ireland have agreed on the interaction between the Irish income levy and the tax co-operation agreements in force between the Isle of Man and Ireland. Both governments have agreed that the income levy is a substantially similar tax, within the meaning of Article 2(2) of the Agreement between the Isle of Man and Ireland for the Exchange of Information Relating to Tax Matters and its Protocol, to the income tax covered in Article 2(1)(b)(i) of the same Agreement. The income levy is therefore a tax covered by the above Agreement from the date of its coming into effect in Ireland on 1 January 2009. It has also been agreed that the income levy exemption which is provided for under the domestic law of Ireland in certain circumstances is extended to residents of the Isle of Man where appropriate with effect from 1 January 2009. Tue, 26 Jul 2011 00:00:00 +0000 http://www.caymannational.com/news-detail.php?The-Irish-Income-Levy-and-Its-Interaction-with-the-Tax-Co-operation-Agreements-Between-the-Isle-of-Man-and-Ireland-48 Isle of Man signs tax co-operation agreement with the Czech Republic http://www.caymannational.com/news-detail.php?Isle-of-Man-signs-tax-co-operation-agreement-with-the-Czech-Republic-49 On 18th July, 2011, the Isle of Man Government continued with its programme of developing closer economic and taxation co-operation with other countries by signing a Tax Information Exchange Agreement (TIEA) and a Joint Declaration with the Czech Republic. The TIEA is the Isle of Man’s 25th TIEA and its 29th agreement that meets the OECD international standard on tax co-operation and transparency. The signing ceremony took place at the Czech Embassy in London between Anne Craine MHK, the Isle of Man’s Treasury Minister, and His Excellency Mr Michael Zantovsky, the Czech Ambassador. Tue, 26 Jul 2011 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Isle-of-Man-signs-tax-co-operation-agreement-with-the-Czech-Republic-49 Isle of Man Signs Tax Co-operation Agreements With Slovenia http://www.caymannational.com/news-detail.php?Isle-of-Man-Signs-Tax-Co-operation-Agreements-With-Slovenia-45 Two tax agreements between the Isle of Man and the Republic of Slovenia were signed on the 27th June by His Excellency Iztok Jarc, the Slovenian Ambassador , and by Isle of Man Treasury Minister, Anne Craine MHK. Tue, 28 Jun 2011 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Isle-of-Man-Signs-Tax-Co-operation-Agreements-With-Slovenia-45 The Isle of Man Means Business http://www.caymannational.com/news-detail.php?The-Isle-of-Man-Means-Business-46 The Department of Economic Development (the Department) has recently announced a number of significant changes to the way the Isle of Man approaches the promotion of Financial Services and related industries in the Isle of Man. The Department is embarking on a radical shake-up which will mean a more collaborative approach with industry and the creation of a new Public Private Sector promotional model allowing the sharing of resource and funding between all parties. Tue, 28 Jun 2011 00:00:00 +0000 http://www.caymannational.com/news-detail.php?The-Isle-of-Man-Means-Business-46 Cayman National Appoints Nigel Wardle to Board of Directors http://www.caymannational.com/news-detail.php?Cayman-National-Appoints-Nigel-Wardle-to-Board-of-Directors-44 Cayman National Corporation Ltd.is pleased to announce the appointment of Nigel Wardle to the Board of Directors. Fri, 24 Jun 2011 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Cayman-National-Appoints-Nigel-Wardle-to-Board-of-Directors-44 Phil O'Shea appointed to key role within UK National Charity http://www.caymannational.com/news-detail.php?Phil-O-Shea-appointed-to-key-role-within-UK-National-Charity-43 Phil O’Shea has been appointed Deputy Chair of the National Advisory Board for Crimestoppers, the independent charity dedicated to the fight against Crime. Wed, 15 Jun 2011 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Phil-O-Shea-appointed-to-key-role-within-UK-National-Charity-43 OECD praise for Isle of Man http://www.caymannational.com/news-detail.php?OECD-praise-for-Isle-of-Man-42 The OECD (Organisation for Economic Co-operation and Development) has praised the Isle of Man for the way that it exchanges information with other countries. The peer review assessment was carried out by a team of experts on behalf of the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes, which involves over 90 countries including the Isle of Man. Wed, 08 Jun 2011 00:00:00 +0000 http://www.caymannational.com/news-detail.php?OECD-praise-for-Isle-of-Man-42 A Foundation For The Future, Guest article by Kevin O'Loughlin, Simcocks Advocates http://www.caymannational.com/news-detail.php?A-Foundation-For-The-Future-Guest-article-by-Kevin-O-Loughlin-Simcocks-Advocates-40 The Foundations Bill 2010 has made its way through Tynwald in the Isle of Man, and is expected to be law in late-2011. Kevin O’Loughlin of Simcocks Advocates summarises what will be the main characteristics of an Isle of Man foundation. Foundations have long existed in the law of continental jurisdictions, but common law jurisdictions are increasingly legislating to introduce the concept. The purpose of the Bill is to allow for the establishment of foundations in the Isle of Man; foundations will add to the number and range of products available to the financial services sector in the Isle of Man; and foundations will provide a new vehicle which may permit entry by the Isle of Man into new markets in an increasingly competitive environment. Mon, 06 Jun 2011 00:00:00 +0000 http://www.caymannational.com/news-detail.php?A-Foundation-For-The-Future-Guest-article-by-Kevin-O-Loughlin-Simcocks-Advocates-40 How To Prevent Bribery and Corruption? Guest article by Adam Kelly, Simcocks Advocates http://www.caymannational.com/news-detail.php?How-To-Prevent-Bribery-and-Corruption-Guest-article-by-Adam-Kelly-Simcocks-Advocates-41 Now that the final guidance has been published for the UK Bribery Act 2010 which will come into force on 1 July 2011 it is important to check how the Act will impact Manx companies doing business in UK. Adam Kelly from the Corporate and Commercial department of Simcocks Advocates explains the implications. Mon, 06 Jun 2011 00:00:00 +0000 http://www.caymannational.com/news-detail.php?How-To-Prevent-Bribery-and-Corruption-Guest-article-by-Adam-Kelly-Simcocks-Advocates-41 How Can Clients Have Confidence That Their Chosen Financial Institution Remains Sound? Guest Article by Phil O'Shea , Non-Executive Director of Cayman National Isle of Man http://www.caymannational.com/news-detail.php?How-Can-Clients-Have-Confidence-That-Their-Chosen-Financial-Institution-Remains-Sound-Guest-Article-by-Phil-O-Shea-Non-Executive-Director-of-Cayman-National-Isle-of-Man-39 In many ways the huge turmoil which affected the global financial sector in 2008 has abated, with more frequent references to financial institutions returning to profitable operations and with the press highlighting examples of attractive products on offer. However, closer review highlights that systemic improvements have not been completed, that national economies such as Greece, Ireland and Portugal have been destabilized to a high degree and require external support to pay their debts and that huge amounts of potentially toxic debts remain live, albeit segregated into a controlled “pot”. Mon, 16 May 2011 00:00:00 +0000 http://www.caymannational.com/news-detail.php?How-Can-Clients-Have-Confidence-That-Their-Chosen-Financial-Institution-Remains-Sound-Guest-Article-by-Phil-O-Shea-Non-Executive-Director-of-Cayman-National-Isle-of-Man-39 Isle of Man Signs Tax Co-operation Agreement with Mexico http://www.caymannational.com/news-detail.php?Isle-of-Man-Signs-Tax-Co-operation-Agreement-with-Mexico-38 The Isle of Man has signed a Tax Information Exchange Agreement (TIEA) with Mexico. Tue, 10 May 2011 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Isle-of-Man-Signs-Tax-Co-operation-Agreement-with-Mexico-38 Isle of Man Signs Tax Co-operation Agreement with Poland http://www.caymannational.com/news-detail.php?Isle-of-Man-Signs-Tax-Co-operation-Agreement-with-Poland-37 The Isle of Man signed three agreements with the Republic of Poland on 7th March 2010. The signing ceremony took place at the Polish Embassy in London between Her Excellency, Barbara Tuge-Erecinska, Ambassador of the Republic of Poland, and the Isle of Man Treasury Minister Anne Craine MHK. Tue, 08 Mar 2011 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Isle-of-Man-Signs-Tax-Co-operation-Agreement-with-Poland-37 Why Litigate When You Can Mediate? Guest article by Laurence Vaughan Williams http://www.caymannational.com/news-detail.php?Why-Litigate-When-You-Can-Mediate-Guest-article-by-Laurence-Vaughan-Williams-28 Litigation costs money. If you or your company or bank are involved in litigation you know that already. There is an answer. Tue, 01 Mar 2011 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Why-Litigate-When-You-Can-Mediate-Guest-article-by-Laurence-Vaughan-Williams-28 UK Anti-avoidance Rules Under Threat Guest Article by Paul Hotchkiss http://www.caymannational.com/news-detail.php?UK-Anti-avoidance-Rules-Under-Threat-Guest-Article-by-Paul-Hotchkiss-29 The European Commission has recently issued a press release stating: "The European Commission has formally requested the United Kingdom to amend two discriminatory anti-abuse tax regimes which concern the transfer of assets abroad and attribution of gains to members of non-UK resident companies. The requests take the form of Reasoned Opinions (the second step of an infringement procedure). In the absence of a satisfactory response within two months, the Commission may refer the UK to the European Court of Justice. Tue, 01 Mar 2011 00:00:00 +0000 http://www.caymannational.com/news-detail.php?UK-Anti-avoidance-Rules-Under-Threat-Guest-Article-by-Paul-Hotchkiss-29 European Union Directive on the Taxation of Savings Income - New Reporting Procedures for Paying Agents Guest article by Paul Hotchkiss http://www.caymannational.com/news-detail.php?European-Union-Directive-on-the-Taxation-of-Savings-Income---New-Reporting-Procedures-for-Paying-Agents-Guest-article-by-Paul-Hotchkiss-30 Paying agents have been advised of new reporting obligations which will apply from 1 July 2011 in relation to the application of the Isle of Man’s equivalent to the European Union Directive 2003/48/EEC on the taxation of savings income in the form of interest payments (commonly referred to as the EUSD). Tue, 01 Mar 2011 00:00:00 +0000 http://www.caymannational.com/news-detail.php?European-Union-Directive-on-the-Taxation-of-Savings-Income---New-Reporting-Procedures-for-Paying-Agents-Guest-article-by-Paul-Hotchkiss-30 New Guidelines for registering offshore companies in Dubai Guest article by Poonam Nagi http://www.caymannational.com/news-detail.php?New-Guidelines-for-registering-offshore-companies-in-Dubai-Guest-article-by-Poonam-Nagi-31 As of 1st January 2011, the Dubai Land Department issued new guidelines to register property for offshore companies. In a step forward, the Dubai Land Department will permit and accept registration of title to freehold property provided the corporate entities purchasing property are “offshore” entities registered in the “Jebel Ali Free Zone (JAFZ)”. These Guidelines are not retrospective and only apply to new registrations at the Dubai Land Department on or after 1 January 2011. Tue, 01 Mar 2011 00:00:00 +0000 http://www.caymannational.com/news-detail.php?New-Guidelines-for-registering-offshore-companies-in-Dubai-Guest-article-by-Poonam-Nagi-31 Appointment of Phil O'Shea as a Non-Executive Director to Cayman National Isle of Man http://www.caymannational.com/news-detail.php?Appointment-of-Phil-O-Shea-as-a-Non-Executive-Director-to-Cayman-National-Isle-of-Man-32 The Cayman National Group are pleased to announce the appointment of Phil O’Shea as a non executive director to the boards of both Cayman National Bank and Trust Company (Isle of Man) Limited and Cayman National Fund Services (Isle of Man) Limited. Tue, 01 Mar 2011 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Appointment-of-Phil-O-Shea-as-a-Non-Executive-Director-to-Cayman-National-Isle-of-Man-32 Isle of Man Signs Tax Co-operation agreement with Canada http://www.caymannational.com/news-detail.php?Isle-of-Man-Signs-Tax-Co-operation-agreement-with-Canada-33 Continuing with its programme of developing closer economic and taxation co-operation with other countries, the Isle of Man has concluded discussions and signed a Tax Information Exchange Agreement (TIEA) with Canada. This is the 18th TIEA and the Island’s 21st agreement that meets the OECD international standard on tax co-operation and transparency. Tue, 01 Mar 2011 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Isle-of-Man-Signs-Tax-Co-operation-agreement-with-Canada-33 Isle of Man signs Tax Co-operation Agreement with India http://www.caymannational.com/news-detail.php?Isle-of-Man-signs-Tax-Co-operation-Agreement-with-India-34 The Isle of Man Government has signed a Tax Information Exchange Agreement (TIEA) with India. This is the second agreement to be signed by the Island in February 2011, and is the 19th TIEA in place. The Island has now signed 23 agreements that meet the OECD international standard on tax co-operation and transparency. The signing ceremony took place at the Indian High Commission in London between Mr Nalin Surie, High Commissioner of India to the UK, and Manx Treasury Minister Anne Craine MHK. Tue, 01 Mar 2011 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Isle-of-Man-signs-Tax-Co-operation-Agreement-with-India-34 Isle of Man Signs New Double Taxation Agreement with Bahrain http://www.caymannational.com/news-detail.php?Isle-of-Man-Signs-New-Double-Taxation-Agreement-with-Bahrain-35 The Isle of Man has signed a comprehensive double taxation agreement (DTA) and a memorandum of understanding on economic, trade and technical co-operation (MOU) with Bahrain. Tue, 01 Mar 2011 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Isle-of-Man-Signs-New-Double-Taxation-Agreement-with-Bahrain-35 Inheritance Tax ("IHT") Planning Solution by Neil Walker, OneE Tax http://www.caymannational.com/news-detail.php?Inheritance-Tax-IHT-Planning-Solution-by-Neil-Walker-OneE-Tax-36 Over the past few years, Cayman National has worked with and provided fiduciary and banking services to the clients of a leading UK tax consultancy firm called OneE Tax Ltd. Tue, 01 Mar 2011 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Inheritance-Tax-IHT-Planning-Solution-by-Neil-Walker-OneE-Tax-36 EU Savings Directive 2…..on the horizon, but getting any closer? http://www.caymannational.com/news-detail.php?EU-Savings-Directive-2-..on-the-horizon-but-getting-any-closer-23 Council directive 2003/48/EC (EUSD 1) was adopted by the then 25 EU Member States from 1 July 2005. At the same time 15 other ‘third’ countries, including the Isle of Man and the Cayman Islands, also introduced similar measures. EUSD 1 was considered to be effective ‘within the limits set by its scope’. Fri, 26 Nov 2010 00:00:00 +0000 http://www.caymannational.com/news-detail.php?EU-Savings-Directive-2-..on-the-horizon-but-getting-any-closer-23 Isle of Man signs Tax Co-Operation Agreement with China http://www.caymannational.com/news-detail.php?Isle-of-Man-signs-Tax-Co-Operation-Agreement-with-China-24 Signing of TIEA with China creates a powerful new tax co-operation relationship for the Isle of Man. Fri, 26 Nov 2010 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Isle-of-Man-signs-Tax-Co-Operation-Agreement-with-China-24 A winning formula at the Isle of Man Aircraft Registry http://www.caymannational.com/news-detail.php?A-winning-formula-at-the-Isle-of-Man-Aircraft-Registry-25 The Isle of Man Aircraft Registry has announced the achievement of another key milestone with over 300 aircraft now registered since it was established on 1st May 2007. The growth in the register has occurred despite the current global economic climate and at a pace which continues to exceed expectations. The Isle of Man now has the fastest growing offshore aircraft register in the world. Fri, 26 Nov 2010 00:00:00 +0000 http://www.caymannational.com/news-detail.php?A-winning-formula-at-the-Isle-of-Man-Aircraft-Registry-25 Isle of Man Added to List of ‘Approved’ Jurisdictions by Hong Kong Stock Exchange (HKSE) http://www.caymannational.com/news-detail.php?Isle-of-Man-Added-to-List-of-Approved-Jurisdictions-by-Hong-Kong-Stock-Exchange-HKSE-26 The Isle of Man has been accepted by the Stock Exchange of Hong Kong as an ‘approved jurisdiction’ for the purposes of the listing of its companies on that exchange. Fri, 26 Nov 2010 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Isle-of-Man-Added-to-List-of-Approved-Jurisdictions-by-Hong-Kong-Stock-Exchange-HKSE-26 Pre-nuptial Agreements – A Binding Contract? http://www.caymannational.com/news-detail.php?Pre-nuptial-Agreements-A-Binding-Contract-27 Guest Article by Laurence Vaughan Williams I have no wish to depress my married readers but 45% of marriages are likely to end in divorce. It would appear sensible for the parties to enter into an Agreement either before the marriage, an Ante or Pre-nuptial Agreement, or after the marriage, a Post-nuptial Agreement. Fri, 26 Nov 2010 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Pre-nuptial-Agreements-A-Binding-Contract-27 Cayman National Banking Director raises £3500 for local charity http://www.caymannational.com/news-detail.php?Cayman-National-Banking-Director-raises-3500-for-local-charity-21 Over £3,500 has been raised for The Children's Centre in Douglas by our Isle of Man Banking Director and 'resident adventurer', Barry Williams. Mon, 25 Oct 2010 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Cayman-National-Banking-Director-raises-3500-for-local-charity-21 Isle of Man Parliament approves of new pension arrangements http://www.caymannational.com/news-detail.php?Isle-of-Man-Parliament-approves-of-new-pension-arrangements-22 The Isle of Man' s parliament, Tynwald has approved an order creating a new type of pension arrangement that will add to the Island's existing local and international pension legislation. Mon, 25 Oct 2010 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Isle-of-Man-Parliament-approves-of-new-pension-arrangements-22 Economic Development - Top Priority http://www.caymannational.com/news-detail.php?Economic-Development---Top-Priority-19 Allan Bell, Minister for Economic Development, has announced a series of changes which will ensure that the Isle of Man focuses on future economic growth in the coming years. As part of the overall Change Programme that the Chief Minister initiated earlier in the year, Minister Bell has responded with a number of significant organizational changes to ensure that the Department maintains its focus on employment, bringing new economic activity to the Island and enhancing the Island’s reputation overseas as well as supporting existing businesses on the Island to flourish. Thu, 19 Aug 2010 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Economic-Development---Top-Priority-19 Isle of Man Signs Tax Co-Operation Agreement With Portugal http://www.caymannational.com/news-detail.php?Isle-of-Man-Signs-Tax-Co-Operation-Agreement-With-Portugal-20 The Isle of Man continues its programme of developing closer economic and taxation co-operation with other countries by signing a Tax Information Exchange Agreement (TIEA) with the Portuguese Republic. This agreement is the 16th TIEA the Isle of Man has signed, and the 19th agreement that meets the OECD international standard on tax co-operation and transparency. Fri, 13 Aug 2010 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Isle-of-Man-Signs-Tax-Co-Operation-Agreement-With-Portugal-20 E-Business Flourishing On The Isle of Man http://www.caymannational.com/news-detail.php?E-Business-Flourishing-On-The-Isle-of-Man-18 In the latest of a series of reviews into the Isle of Man’s e-Business sector, a report by business and technology consultancy, Charteris, has acknowledged the Isle of Man’s lead over other competing jurisdictions, thanks to the Island’s internationally competitive infrastructure. Thu, 05 Aug 2010 00:00:00 +0000 http://www.caymannational.com/news-detail.php?E-Business-Flourishing-On-The-Isle-of-Man-18 Isle of Man moves ahead with preparation for EU savings directive changes http://www.caymannational.com/news-detail.php?Isle-of-Man-moves-ahead-with-preparation-for-EU-savings-directive-changes-17 The Isle of Man’s parliament, Tynwald, in June of this year endorsed the commitment made a year ago, by the then Treasury Minister, Allan Bell MHK, to a change of policy in relation to the EU Savings Directive (EUSD) that will see the Isle of Man, in its application of the EUSD, move fully to automatic exchange of information from 1 July 2011. Sun, 01 Aug 2010 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Isle-of-Man-moves-ahead-with-preparation-for-EU-savings-directive-changes-17 International Banking Group opens its doors http://www.caymannational.com/news-detail.php?International-Banking-Group-opens-its-doors-14 After many months of preparation, the doors were opened to the public on 19th July, 2010 of the newest bank in the Turks & Caicos Islands, International Banking Group. Wed, 21 Jul 2010 00:00:00 +0000 http://www.caymannational.com/news-detail.php?International-Banking-Group-opens-its-doors-14 Isle of Man introduces treasury share regulations http://www.caymannational.com/news-detail.php?Isle-of-Man-introduces-treasury-share-regulations-15 The Isle of Man has introduced regulations to permit publically traded companies (incorparated under the Companies Act 1931) to purchase and hold a maximum of 10 per cent of their own shares in treasury, making publically traded Isle of Man companies more competitive. Mon, 05 Jul 2010 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Isle-of-Man-introduces-treasury-share-regulations-15 Dubai Land Department changes Policy for offshore Companies http://www.caymannational.com/news-detail.php?Dubai-Land-Department-changes-Policy-for-offshore-Companies-13 As of 1st February 2010, Mohammad Sultan Thani, the Director General of the Dubai Land Department issued a Directive instructing the Transactions Department at the Dubai Land Department to prevent the registration of title to freehold properties in the names of offshore companies such as companies registered in the British Virgin Islands, Cayman Islands, Republic of Seychelles, etc. Fri, 02 Jul 2010 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Dubai-Land-Department-changes-Policy-for-offshore-Companies-13 Chief Minister announces new Ministerial line-up http://www.caymannational.com/news-detail.php?Chief-Minister-announces-new-Ministerial-line-up-12 In March 2010, the Isle of Man Chief Minister Tony Brown MHK announced the new line-up of the Council of Ministers. These appointments came into effect from April 1 to coincide with the major restructuring of Government Departments. Thu, 17 Jun 2010 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Chief-Minister-announces-new-Ministerial-line-up-12 Outlook for 2010 http://www.caymannational.com/news-detail.php?Outlook-for-2010-1 Over the past two years we have witnessed perhaps the most challenging economic circumstances seen in our lifetimes. 2009 saw some stability in global markets, with consumer confidence starting to return, and stock markets beginning their road to recovery, however fragile it might turn out to be. Tue, 08 Jun 2010 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Outlook-for-2010-1 When it all goes wrong (and you may not even know...) http://www.caymannational.com/news-detail.php?When-it-all-goes-wrong-and-you-may-not-even-know...-16 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. Sat, 29 May 2010 00:00:00 +0000 http://www.caymannational.com/news-detail.php?When-it-all-goes-wrong-and-you-may-not-even-know...-16 Celebrating 25 Years of Operations http://www.caymannational.com/news-detail.php?Celebrating-25-Years-of-Operations-7 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 ... Mon, 01 Mar 2010 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Celebrating-25-Years-of-Operations-7 The Isle of Man emerges well from UK's Offshore Financial Centres Review http://www.caymannational.com/news-detail.php?The-Isle-of-Man-emerges-well-from-UK-s-Offshore-Financial-Centres-Review-6 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. Mon, 01 Feb 2010 00:00:00 +0000 http://www.caymannational.com/news-detail.php?The-Isle-of-Man-emerges-well-from-UK-s-Offshore-Financial-Centres-Review-6 International Banking Group nearing launch http://www.caymannational.com/news-detail.php?International-Banking-Group-nearing-launch-9 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. Mon, 01 Feb 2010 00:00:00 +0000 http://www.caymannational.com/news-detail.php?International-Banking-Group-nearing-launch-9 Resident or Non-Resident? http://www.caymannational.com/news-detail.php?Resident-or-Non-Resident-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.... Mon, 11 Jan 2010 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Resident-or-Non-Resident-10 Standard & Poor's 'AAA' Credit Rating for Isle of Man http://www.caymannational.com/news-detail.php?Standard-Poor-s-AAA-Credit-Rating-for-Isle-of-Man-8 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. Fri, 01 Jan 2010 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Standard-Poor-s-AAA-Credit-Rating-for-Isle-of-Man-8 Foreclosures as the new wave to hit Dubai's property market? http://www.caymannational.com/news-detail.php?Foreclosures-as-the-new-wave-to-hit-Dubai-s-property-market-11 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”. Fri, 01 Jan 2010 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Foreclosures-as-the-new-wave-to-hit-Dubai-s-property-market-11 Cayman National Opens Representative Office in Panama http://www.caymannational.com/news-detail.php?Cayman-National-Opens-Representative-Office-in-Panama-5 Cayman National's representative office in Panama City is now open for business, having obtained its Representation License in February.The ... Thu, 03 Sep 2009 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Cayman-National-Opens-Representative-Office-in-Panama-5 Front Line Philanthropy - Guest Article by Paul Beckett* http://www.caymannational.com/news-detail.php?Front-Line-Philanthropy---Guest-Article-by-Paul-Beckett-2 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. Wed, 02 Sep 2009 00:00:00 +0000 http://www.caymannational.com/news-detail.php?Front-Line-Philanthropy---Guest-Article-by-Paul-Beckett-2