Minister Engages EU Stakeholders On Financial Services And Maritime Matters – Financial Services

Grand Cayman, 10 October 2023 – Minister
of Financial Services and Commerce, the Hon. André Ebanks,
engaged with key stakeholders in Spain and Greece on separate
financial services and commerce initiatives last week.

Minister Ebanks met with Mrs Maria José Garde, the
Spanish General Director of Taxation and Chair of the EU Code of
Conduct Group, and other officials in Madrid, Spain on 2 October
2023 to discuss international tax cooperation matters and other
regulatory updates.

From there, Minister Ebanks travelled to Athens, Greece, the
centre of European commercial shipping, to support Maritime
Authority of the Cayman Islands (MACI) CEO Joel Walton and his
staff in their business development meetings with members of the
Greek shipping community.

The Greece trip was part of MACI’s year-long celebrations of
the 120-year anniversary of the Cayman Islands Shipping Registry (a
division of MACI).

The Cayman Islands is in the midst of modernising its maritime
sector and enhancing its legislative framework to attract more
international shipping business.

“These meetings come at an important time, where we are
maintaining our good international standing with regards to tax,
finalising a modernised Merchant Shipping Act to assist with the
enhancement of our maritime-related business, while celebrating the
120th anniversary of our Shipping Registry. I’m optimistic that
the result of these meetings will lead to stronger maritime ties
and new international shipping business opportunities for our
Maritime Authority,” Minister Ebanks said.

At the end of this month, Minister Ebanks along with the
Attorney General, the Hon. Samuel Bulgin, will attend the Financial
Action Task Force (FATF) Plenary in Paris, primarily to represent
the Cayman Islands during proceedings which will determine whether
the Cayman Islands will be removed from the FATF list of
jurisdictions with anti-money laundering and countering the
financing of terrorism deficiencies. In addition, while in the EU,
Minister Ebanks will represent the Cayman Islands at the 2023 EU
Tax Symposium in Brussels.

Photo 1

Caption: From left, MACI CEO Joel Walton, MACI Business
Development Manager Kayla Martin, MACI Chairperson Sherice Arman,
and Minister André Ebanks during business development
meetings in Greece.

Photo 2

Caption: Spanish General Director of Taxation, and Chair of the
EU Code of Conduct Group, Mrs Maria José Garde met with
Minister André Ebanks in Madrid to discuss tax matters.

Photo 3

Caption: Minister André Ebanks (back, fourth from left)
supported the Cayman Islands delegation during their maritime
meetings in Greece.

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