News

Cayman to Regulate, Tax Hedge Funds

By: Caribbean Journal Staff - June 14, 2011 - 1:37 am

Premier McKeeva Bush

By the Caribbean Journal staff

Premier McKeeva Bush announced that Cayman’s government would tax and regulate hedge funds for the first time, with the announcement coming in his budget address. “The Government will introduce a single revenue measure during the course of the 2011/2012 fiscal year,” according to the text of his address. “The hedge funds sector, certain ‘master funds’ will be regulated by the Cayman Islands Monetary Authority, just as they are regulated in other jurisdictions.” Funds meeting that criterion will be required to pay a fee of approximately $1,825 per year. Hedge funds are not currently regulated in Cayman. Bush said his government had received representations from local financial leaders that the fee could be introduced without an adverse effect.

25 Perfect Caribbean Beaches to Add to Your Summer Bucket List

There’s nothing like a Caribbean beach in summer. The crowds thin out, the winds relax, and the islands start breathing in a different way. The beaches you thought you knew feel new again— stretches of sand once packed with winter […]

The 15 Best Hotels in Trinidad and Tobago, From Hidden Eco-Retreats to Luxury Towers

trinidad and tobago hotels where to stay

From Port of Spain to Tobago’s quiet coasts, these are the places to check in now No two Caribbean islands are quite like Trinidad and Tobago—and no two hotels here feel the same. This is a destination of contrast: Carnival […]

This Marriott All-Inclusive Resort Is Coming to Barbados — And You Can Book It With Points

Barbados has long been a haven for adults in search of refinement — the kind of place where luxury and culture blend in quiet, confident harmony. Now, that ethos is becoming the foundation of a new resort concept that aims […]

How Passenger Taxes Are Hurting Caribbean Aviation

By By Cdr. Bud Slabbaert Op-Ed Contributor What the Caribbean needs is so simple: rapid, reliable mobility at reasonable rates. What makes it so difficult? It is almost as short and simple to explain. There are two players; the aviation […]

Antigua and Barbuda Is Abolishing Its Personal Income Tax

Another Caribbean island will soon be without a personal income tax. Antigua and Barbuda will be abolishing its personal income tax beginning in April, the government announced this week. The personal income tax, which had been introduced in 2004, had […]

US Virgin Islands Braces for Increased Hotel Room Tax

Hoteliers in the US Virgin Islands are bracing for the introduction of an increased hotel tax on the island. The new hotel room tax will rise from 10 percent to 12.5 percent beginning Jan. 1, 2016. The tax rate will […]