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New Governor Brings Confidence to Financial Management Industry

Although he will hold the post on an interim basis, it is anticipated that Mr Roper will bring the kind of authority, stability and innovation to the role that is likely to see him significantly outlast the initial 6-9 months trial period – news sources report that he would like to have the job for the long-term.

“I am delighted to be appointed to the role by Her Majesty The Queen. It is a great privilege and honour. I take great pride in being part of the Cayman Islands and having an opportunity to serve its people,” Mr Roper told press.

“I will work in a spirit of collaboration and partnership with the Premier, elected politicians and all sectors of society.”

It will be interesting to see how Mr. Roper adjusts from working in Beijing – one of the world’s most densely populated and polluted cities – to being situated in the Cayman Islands, a relatively small and thinly populated island paradise. However, there will be some similarities. For example, in Beijing Mr. Roper regularly worked with cross-border investment professionals; this is likely to continue in the Cayman Islands, as the British Overseas Territory’s prosperity largely depends on the health of the financial management industry.

Financial Management in the Cayman Islands

The Cayman Islands is an important global financial jurisdiction, particularly for UK expats and for those who are committed to the development of offshore businesses.

Blacktower FM has an office in George Town, and our specialists can help you ensure your money works for you. From pension planning and pension transfer schemes to savings, investments and tax planning.

Whether you wish to discuss your general wealth management needs, require SIPPs or QROPS advice, or perhaps you would like to plan overseas asset management, speak with us today.

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

Private Pension – Options Explained by Keith Littlewood, International Financial Adviser Costa Blanca

Many people have pension pots just sitting, not really doing anything, but at every stage in life it is very important that you should keep track of your retirement provision.

If you are in your 30s or 40s look closely to what provision you have and what you might need in the future. State Benefits are not going to kick in for you until you are 67.

If you are in your 50s then this is a very critical period. One bad investment year can affect the income you receive for the rest of your life, so make sure you are looking at setting your investments up in a balanced way so that no unforeseen disasters can hurt you – this is called ‘Life Styling your Pension Pot’.

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Do you hold substantial cash in Spain? If so read on….

IceHere in Spain, I hear no end of horror stories regarding the country’s financial institutions and laws. Unfortunately, I too have been on the receiving end of unscrupulous and downright unfair treatment, but last week a client of mine of over four years called me in distress. For the avoidance of doubt, this is a true story.

My client is 86 years old and, sadly, her husband died eight months ago. Over four years ago she followed our recommendation of investing in a purpose-built Spanish portfolio bond with both her husband and her as lives assured. This meant that should either partner die before the other, the bond would continue as if nothing had happened, thereby not triggering a Spanish Inheritance Tax calculation. In Spain unlike the UK, there is Inheritance Tax between spouses, however, because this particular bond is held outside Spain it avoids inheritance tax. This is a tool that we often use for clients in Spain.

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