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Cayman Islands Wooing International Investors

“Leading institutional investors are engaged in a flight to quality, moving away from other jurisdictions and investing in the Cayman Islands in growing numbers because we have a strong, diversified financial services industry supported by high standards, a robust legal system and excellence in service,” stated Cayman Finance CEO Jude Scott in a press release detailing the positive news.

Of course, one reason investors are so attracted to the Cayman Islands is the jurisdiction’s favourable legal and regulatory regimes, which make it an ideal and neutral centre for investors who might otherwise be restricted by unwelcome taxes, regulations and customs.

Those who take advantage of financial services in the Cayman Islands, such as those offered by Blacktower Financial Management, are able to access a whole raft of vehicles and sectors – for example, Cayman Islands-based investment portfolios, insurance, trusts, pension transfer opportunities, banking services and insurance products.

Furthermore, because of its commitment to transparency and international cooperation, investors in the Cayman Islands can be assured of a world-class level of regulation and investor assurance.

Blacktower FM in the Cayman Islands

Blacktower FM’s representatives in George Town can bring benefit to investors in the region. Whether we are providing assistance with portfolios and regular savings, offering SIPPs or QROPS, or help with education and retirement planning.

Our specialist financial advisers and wealth managers across the company can help ensure that you have confidence in your financial future. Contact Blacktower Financial Management in the Cayman Islands today for more information.

This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.

Other News

Safeguarding your Pension and Assets

Many UK expatriates do not realise that even if they have left and are no longer resident in the UK, they remain UK-domiciled and therefore subject to UK Inheritance Tax (IHT) on their worldwide estate at a rate of 40 per cent after allowances. This can come as a major shock. 

Brexit

What can be done about this? There are several options. 

Transfers of wealth on death between husband and wife are exempt from IHT, but only if the spouse is also domiciled in the UK (or both are non-domiciled). This catches out many expatriates who have married a foreign passport holder who is likely to be domiciled elsewhere. Even then, the IHT is only delayed rather than avoided, because on the death of the survivor the tax will be payable on the passing of the family assets to the next generation. 

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Reclaiming the QROPS Transfer Charge – Clarification of Regulations

HM Revenue & Customs has introduced new regulations to make it easier to reclaim the QROPS overseas pension transfer charge. The rules came into effect on April 25, 2019 following a decision by the House of Commons on April 3, 2019.

The Pension Schemes (Information Requirements – Repayment of Overseas Transfer Charge) Regulations 2019* outline the necessary procedures for recovering the charge in cases where it has been incorrectly levied or a change in the member’s situation means that the charge is no longer applicable and a retroactive exemption can be applied.

Read More

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