🌏 Cayman Islands Government opens new office in Singapore

Deputy Premier and Financial Services Minister André Ebanks is set to travel to Singapore next week to formally open a new Cayman Islands office. The move is part of an effort to "establish and deepen strong public- and private-sector relations" across Asia. The Cayman Islands Government will host a reception to celebrate the opening, led by its representative for Asia, Gene DaCosta. 🎉

While in Singapore, Ebanks will also attend the Financial Action Task Force Plenary, where he will participate in sessions and side events relevant to the Cayman Islands, such as beneficial ownership. Additionally, the delegation will engage with stakeholders on financial services developments at a Cayman Finance industry roundtable. The new Asia office is one of three overseas offices under the ministry's remit, with others in Europe and Washington DC. 🌐

Despite some controversy surrounding the plans to open the Asia and US offices in early 2022, the government sees the move as an opportunity to strengthen the Cayman Islands' financial services position while maintaining a strong regulatory partnership globally. During Ebanks' absence, Heather Bodden MP will act for him across his portfolios. 🏛️